“Global Mineral Supplements Market to reach a market value of USD 23.7 Billion by 2030 growing at a CAGR of 5.4%”
The Global Mineral Supplements Market size is expected to reach $23.7 billion by 2030, rising at a market growth of 5.4% CAGR during the forecast period.
Iron supplements are frequently sought to prevent and treat iron deficiency anemia, especially among individuals with inadequate dietary iron intake, pregnant women, and those with increased iron requirements. Therefore, the iron segment attained 12.45% revenue share in 2022. Pregnant women require additional iron to support the growing fetus and prevent iron deficiency anemia.
With rising healthcare costs and a focus on disease prevention, there is a growing recognition of diet and nutrition's role in maintaining health and preventing chronic diseases. Nutraceuticals are seen as a proactive and preventive approach to health management, supplementing dietary deficiencies and supporting overall wellness.
Additionally, Modern dietary patterns, including processed and convenience foods, often result in nutritional gaps and imbalances. Many individuals may not obtain sufficient minerals from their diets, increasing their risk of deficiencies. Therefore, the rising prevalence of mineral deficiencies drives the market's growth.
However, Excessive intake of certain minerals, such as iron and calcium, can lead to toxicity and adverse health effects. Consumers may be unaware of the recommended daily allowances and exceed safe limits, posing a risk of overdose. Some supplements can interact with medications, affecting their absorption or efficacy. This lack of clarity can contribute to misuse or overuse, raising safety concerns. Therefore, adverse effects and safety concerns are hampering the market's growth.
Based on sales channel, the market is divided into pharmacies & drug stores, supermarkets & hypermarkets, and online channels. The pharmacies & drug stores segment attained 53.14% revenue share in the mineral supplement market in 2022. Pharmacies and drug stores are staffed by trained healthcare professionals, including pharmacists.
On the basis of formulation, the market is segmented into capsules, tablet, powder, liquid/gel, and others. In 2022, the liquid/gel segment attained 16.56% revenue share in the market. Liquid and gel forms of this are often touted for faster absorption rates than solid forms like tablets or capsules.
Based on application, the market is categorized into general health, bone & joint health, gastrointestinal health, immunity, and others. In 2022, the general health segment registered 42.20% revenue share in the market. The growing interest in proactive health management and preventive care is the prime reason for the segment's growth.
By end-use, the market is divided into adults, geriatric, pregnant women, children, and infants. The geriatric segment procured a 20.56% revenue share in the market in 2022. Geriatric individuals often face challenges related to bone health, including a higher risk of osteoporosis and fractures. Calcium, magnesium, and vitamin D supplements are sought after to support bone density and reduce the risk of bone-related issues.
Based on product, the market is divided into calcium, magnesium, iron, potassium, zinc, chromium, selenium, and others. In 2022, the calcium segment garnered 39.86% revenue share in the market. Calcium is a critical mineral for developing and maintaining strong and healthy bones.
Free Valuable Insights: Global Mineral Supplements Market size to reach USD 23.7 billion by 2030
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region captured 27.26% revenue share in the market. Despite diverse food options, some individuals in North America may have dietary gaps and nutrient deficiencies.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 15.7 Billion |
| Market size forecast in 2030 | USD 23.7 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.4% from 2023 to 2030 |
| Number of Pages | 380 |
| Number of Tables | 630 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, Sales Channel, Formulation, Application, End-Use, Region |
| Country scope |
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| Companies Included | Glanbia PLC, Nestle S.A., Herbalife nutrition Ltd., Sanofi S.A., Amway Corporation, Bayer Ag, Omega Protein Corporation (Cooke, Inc.), Pharmavite LLC, Koninklijke DSM N.V., Nu Skin Enterprises, Inc. |
By Sales Channel
By Formulation
By Application
By End-use
By Product
By Geography
This Market size is expected to reach $23.7 billion by 2030.
Expansion of the nutraceutical industry are driving the Market in coming years, however, Adverse effects and safety concerns restraints the growth of the Market.
Glanbia PLC, Nestle S.A., Herbalife nutrition Ltd., Sanofi S.A., Amway Corporation, Bayer Ag, Omega Protein Corporation (Cooke, Inc.), Pharmavite LLC, Koninklijke DSM N.V., Nu Skin Enterprises, Inc.
The expected CAGR of this Market is 5.4% from 2023 to 2030.
The Tablet segment is leading the Market by Formulation in 2022; there by, achieving a market value of $8.4 billion by 2030.
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $9.3 billion by 2030.
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