Mineral Supplements Market Size, Share, Opportunities, And Trends By Product (Calcium, Magnesium, Iron, Potassium, Zinc, Chromium, Selenium, Others), By Formulation (Capsule, Tablet, Powder, Liquid/Gel, Others), By Application (General Health, Bone & Joint Health, Gastrointestinal Health, Immunity, Others), By End-Use (Adults, Geriatric, Pregnant Women, Children, Infants), And By Geography - Forecasts From 2023 To 2028

The mineral supplements market was valued at US$10.081 billion in 2021.

Mineral supplements are dietary products that contain essential minerals needed by the human body. Minerals are inorganic elements that play crucial roles in various physiological functions. Increasing demand for dietary supplements and expanding sports and fitness industry is a major growth driver of the mineral supplements market. Moreover, the rising micronutrient deficiencies and osteoporosis cases worldwide along with increasing health awareness are further expected to boost the mineral supplements market.

Increasing Demand for Immunity Boosting and Dietary Supplements

The increasing demand for immunity-boosting and dietary supplements is one of the major growth drivers of the mineral supplements market. For instance, The All India Organization of Chemists and Druggists estimates that the demand for dietary supplements increased by 15% to 20% after the Covid-19 pandemic. Moreover, the China Chamber of Commerce published figures on the import and export of dietary supplements, which showed that as of June 2020, exports of dietary supplements were close to $ 990 million which is an increase of 10.4% from 2019.

Sports Nutrition and Fitness Trends

The fitness and sports nutrition industries have been experiencing significant growth. Athletes and physically active individuals often require higher mineral intake to support their increased energy expenditure and recovery needs, leading to a higher demand for mineral supplements. Therefore, the expanding sports industry and physically active people are anticipated to propel the mineral supplements market. For instance, the Sports Authority of India has created 67 SAI Training Centers and 23 National Centers of Excellence to carry out sports marketing programs across the nation. Moreover, the inclusion of more sports is further expanding the sports industry. For instance, the Paris 2024 Summer Olympics is including four new sports namely skateboarding, surfing, breaking, and sport climbing.

Rising Prevalence of Anemia and Osteoporosis

Anemia is related to iron deficiency and the huge number of affected populations with this is a significant growth driver of the mineral supplements market. For instance, according to the WHO statistics, anemia presently affects 40% of infants aged between 6 and 59 months, 37% of expectant mothers, and 30% of women aged between 15 and 49 years. Moreover, the rising cases of osteoporosis (related to calcium and minerals) are further expected to boost the mineral supplements market. For instance, around 32 million Europeans aged 50 years or above were affected by osteoporosis in 2019 as per the International Osteoporosis Foundation.

Increasing Health Awareness and Consciousness

People are becoming more health-conscious and proactive about their well-being. There is an increased interest in preventive healthcare measures which is contemplated to augment the mineral supplements market. For instance, the IPSOS survey of US people in December 2021 revealed that around 62% of Americans agree that their health is more important to them than before the Covid-19 pandemic. Moreover, the study conducted by Nutrisystem and OnePoll in 2022 revealed that 7 out of 10 Americans are more health aware and approximately 61% realize that a healthy diet and lifestyle can protect their long-term health.

Rising Prevalence of Micronutrient Deficiencies

Micronutrient deficiencies, including mineral deficiencies, are a significant public health concern in some regions which is driving the need for fortified foods and mineral supplements thereby boosting the mineral supplements market. The worldwide burden of malnutrition has substantial and long-lasting effects on people and their families, as well as on communities, nations, and the economy. For instance, 7.7% of children were severely wasted, 19.3% were wasted, and 35.5% were stunted, according to the National Family Health Survey (NFHS) 2019–21 by the Indian Ministry of Health and Family Welfare. Moreover, nearly 45% of deaths among children under the age of 5 years were linked to undernutrition as per the WHO 2020 report.

Restraints in the Market

The mineral supplements market has experienced growth and development however some restraints or challenges can impact its expansion. For example, the dietary supplement industry, including mineral supplements, is subject to regulatory oversight to ensure product safety and efficacy. For instance, products marketed as dietary supplements cannot claim that they may treat, prevent, or cure any particular illness or condition in the United States as per the FDA guidelines. Moreover, the use of fortified foods and drinks has grown in popularity as a way to receive critical nutrients, including minerals. Fortified food alternatives may be chosen by consumers, which may reduce the necessity for independent mineral supplements.

Asia-Pacific is Expected to Grow Significantly

Asia-Pacific region is expected to hold a significant share of the mineral supplements market during the forecast period. The factors attributed to such a share are increasing mineral deficiency, increasing health awareness, and expanding the sports and fitness industry. For instance, according to the EAT-Lancet Committee on healthy diets from sustainable food systems, adult Indians are not achieving recommended dietary targets for important food categories. Moreover, the prevalence of osteoporosis in the region is further boosting the mineral supplements market. For instance, around one-third population of China aged 50 years or above is affected with osteoporosis as per the NCBI study.

Major Market Players

• Glanbia plc is a global nutrition company based in Ireland. It operates across various segments of the nutrition industry, including performance nutrition, nutrition solutions, and dairy ingredients. Glanbia Performance Nutrition division focuses on sports nutrition products and supplements, targeting athletes, fitness enthusiasts, and active individuals. Some well-known brands under this segment include Optimum Nutrition, BSN, Isopure, and ABB.
• Biovea offers a wide range of health-related items from various brands to customers worldwide through its e-commerce platform. Their product categories include vitamins, minerals, herbal supplements, sports nutrition, beauty and skincare products, and pet health supplements. MAGNESIUM MALATE tablets, MAGNESIUM BIS-GLYCINATE capsules, and TRIPLE BORON capsules are a few products offered by the company as mineral supplements.

Key Market Developments

• In March 2023, under the trademark Vestige Prime, Vestige released the Concentrated Mineral Drops (CMD). An all-natural marine mineral supplement, it is a first of its type in India.
• In May 2022, Vaneeghen launched FutureCeuticals’ mineral complex for joint health named FruiteX-B in the European market. The product is clinically shown to relieve back pain.

Segmentation:

• By Product
  • Calcium
  • Magnesium
  • Iron
  • Potassium
  • Zinc
  • Chromium
  • Selenium
  • Others
• By Formulation
  • Capsule
  • Tablet
  • Powder
  • Liquid/Gel
  • Others
• By Application
  • General Health
  • Bone & Joint Health
  • Gastrointestinal Health
  • Immunity
  • Others
• By End-Use
  • Adults
  • Geriatric
  • Pregnant Women
  • Children
  • Infants
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others

1.  INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. MINERAL SUPPLEMENTS MARKET, BY PRODUCT

5.1. Introduction

5.2. Calcium

5.3. Magnesium

5.4. Iron

5.5. Potassium

5.6. Zinc

5.7. Chromium

5.8. Selenium

5.9. Others

6. MINERAL SUPPLEMENTS MARKET, BY FORMULATION

6.1. Introduction

6.2. Capsule

6.3. Tablet

6.4. Powder

6.5. Liquid/Gel

6.6. Others

7. MINERAL SUPPLEMENTS MARKET, BY APPLICATION

7.1. Introduction

7.2. General Health

7.3. Bone & Joint Health

7.4. Gastrointestinal Health

7.5. Immunity

7.6. Others

8. MINERAL SUPPLEMENTS MARKET, BY END-USE

8.1. Introduction

8.2. Adults

8.3. Geriatric

8.4. Pregnant Women

8.5. Children

8.6. Infants

9. MINERAL SUPPLEMENTS MARKET, BY GEOGRAPHY

9.1. Introduction

9.2. North America

9.2.1. United States

9.2.2. Canada

9.2.3. Mexico

9.3. South America

9.3.1. Brazil

9.3.2. Argentina

9.3.3. Others

9.4. Europe

9.4.1. United Kingdom

9.4.2. Germany

9.4.3. France

9.4.4. Spain

9.4.5. Others

9.5. The Middle East and Africa

9.5.1. Saudi Arabia

9.5.2. UAE

9.5.3. Israel

9.5.4. Others

9.6. Asia Pacific

9.6.1. Japan

9.6.2. China

9.6.3. India

9.6.4. South Korea

9.6.5. Indonesia

9.6.6. Thailand

9.6.7. Others

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

10.1. Major Players and Strategy Analysis

10.2. Emerging Players and Market Lucrativeness

10.3. Mergers, Acquisitions, Agreements, and Collaborations

10.4. Vendor Competitiveness Matrix

11. COMPANY PROFILES

11.1. Glanbia, plc.

11.2. Abbott

11.3. Nestle

11.4. Biovea

11.5. Herbalife International of America, Inc.

11.6. Sanofi

11.7. Amway

11.8. Bayer AG

11.9. Omega Protein Corporation

11.10. Bio Botanica, Inc.

Glanbia, plc.

Abbott

Nestle

Biovea

Herbalife International of America, Inc.

Sanofi

Amway

Bayer AG

Omega Protein Corporation

 

Bio Botanica, Inc.