Mineral Supplements Market Size and Share Analysis by Product Type (Calcium, Magnesium, Iron, Potassium, Zinc, Chromium, Selenium), Formulation (Tablets, Capsules, Soft Gels, Powders, Gummies, Liquids), Application (Food and Beverage, Pharmaceutical), End-User (Adult Women, Adult Men, Senior Citizen) - Global Industry Demand forecast to 2030

Market Overview

The global mineral supplements market size stood at $13.19 billion in 2021, which is expected to reach $21.0 billion by 2030, advancing at a CAGR of 5.3% during 2021–2030. This will predominantly be due to the surging adoption of these products for decreasing the likelihood of various chronic diseases, including anemia, osteoporosis, and cancer. In addition, the growing implementation of preventive healthcare practices, coupled with the spurring incidence of lifestyle-associated disorders, is expected to propel the sector growth in the forecast period.

The growing network of sports complexes and gymnasiums, the strengthening of the focus on a balanced diet, and the rapid increase in obese population will also drive the domain growth. Additionally, the snowballing use of safe, organic, and clean-label ingredients in nutrition additives will boost the demand for these products. Since certain minerals are essential but cannot be synthesized in the human body, they are required to be obtained via diet.

The requirement for various minerals by a growing number of athletes across the globe is expected to pose an opportunity for the market outlook enhancement. Several research studies are being conducted regarding the benefits of functional foods comprising calcium, zinc, iron, and potassium. These nutrients are known for their ability to fight inflammation, thereby diminishing the joint pain and tenderness associated with arthritis.

Furthermore, the mounting awareness amongst people regarding the benefits associated with healthy lifestyles is leading to the elevating requirement for mineral boosters in both developed as well as developing countries. In recent times, prominent players have actively engaged themselves in the launch of innovative supplements possessing a high efficacy and long shelf life. For instance, in February 2022, Amway launched mineral supplements in the form of jelly strips and gummies, to improve bone health and the immune system.

The rising adoption of plant-derived nutritional products is predicted to create lucrative opportunities for the sector. Additionally, the consumer preference for personalized supplements for the prevention of metabolic disorders is enhancing the domain outlook.

Moreover, the dynamic expansion in the volume of online sales and count of brick-and-mortar stores provide significant prospects for the sector growth. Companies are financing R&D activities and making sales via new channels to reach a diverse set of customers. Presently, mass merchandisers, such as supermarkets/hypermarkets and certain specialty retailers, account for the majority of the sales of such products.

Further, disease-specific customized offerings are being sold via traditional stores, such as convenience stores and pharmacies. The supplements are created after considering the age, gender, medical history, and other details about customers. The personalization of these ingredients and their efficient delivery though various sales channels are projected to propel the mineral supplements market revenue during the forecast period.

Calcium Leads Market

The calcium category accounted for the largest revenue share, of more than 26%, in 2021. This is because of the rising incidence of osteoporosis worldwide, mainly in the geriatric population and women. In addition, the launch of innovative calcium-based tablets by pharmaceutical companies is leading to the augmenting demand for them all over the world.

Potassium is set to record the highest CAGR, in the forecast period, owing to the increasing awareness regarding the benefits of this nutrient, such as the creation of a balance of fluids in the body, smooth muscle contraction, and uninterrupted transmission of nerve impulses.

In addition, balanced potassium levels in the body help in the prevention of water retention and reduction of blood pressure, thus lowering the risk of CVDs (such as stroke). Furthermore, due to the ability of potassium to reduce the risk of osteoporosis and kidney stones, the requirement for it is projected to augment in the forthcoming period too.

Liquid Category To Witness Fastest Revenue Growth

In 2021, the tablets category accounted for the largest revenue share, in the market, based on formulation. This is because tablets are an ideal dosage form, cost-effective, and easily available and have a longer shelf life.

The liquid category is expected to witness the fastest growth during the forecast period, This would be because of the cumulative demand for liquid supplements, which are easily absorbed in the body and have superior bioavailability.

Pharmaceutical Category Generated Highest Revenue

The pharmaceutical category accounted for the largest revenue share, in 2021, propelled by the surging investments by the pharmaceutical industry to boost the introduction of highly efficient supplements. The pharmaceutical industry has witnessed a rapid increase in the sale of minerals in the past five years, with growing evidence supporting their role in preventing CVDs, rheumatoid arthritis, depression, and asthma and in slowing cognitive decline.

Adult Women Mainly Consume Mineral Supplements

Adult women held the largest mineral supplements market share, in 2021, due to the strong requirement for nutrients such as zinc, potassium, and calcium amongst women during the prenatal and postnatal phases. In addition, to reduce the risk of any deformity in newborns, the intake of these products is necessary for expecting mothers.

Moreover, the hectic work schedules and changing lifestyles of working adult women are leading to an imbalance of nutrients, which is projected to surge the consumption of additional minerals by them. In addition, the expanding prevalence of obesity, diabetes, and CVDs among adult women around the globe is driving the category size.

Explore more about this report - Request free sample

APAC Is Leader in Market

APAC dominated the market in 2021 with more than 50% share, primarily ascribed to the growing prevalence of chronic diseases and the existence of a number of prominent players in the region. Furthermore, the emergence of contract manufacturing firms in several countries, including India, the Philippines, and China, is expected to provide significant prospects for domain advancement.

Moreover, the swiftly rising disposable income and strengthening focus on a healthy lifestyle in the region are leading to an increase in the market size. Additionally, the growing number of health clubs, fitness centers, and gyms, along with the surging awareness about fitness among youngsters in the region, is set to drive the demand for these products.

India and Southeast Asian countries are attracting pharmaceutical companies for their business expansion, due to the high demand for Ayurvedic and herbal-extract-based products in these countries.

North America held the second-largest share in 2021, owing to the increasing healthcare expenditure, elevating intake of supplements, and the significant health awareness. Furthermore, in the region, the U.S. accounted for the larger share, in 2021, driven by the snowballing sales of dietary supplements in the country. The U.S. accounted for around $55.7 billion in sales of dietary supplements in 2021, out of which $21.2 billion came from minerals.

Europe held the third-largest market share, in 2021, owing to the healthy living trend among European people. Amongst the regional countries, Germany holds the strongest position, due to the increase in the demand for minerals supported by the mounting popularity of veganism and vegetarianism among consumers. In addition, a greater consciousness of the prevention of gastrointestinal problems and obesity in the country is leading to the high demand for these products.

The MEA is set to register the highest CAGR, in the forecast period, mainly due to the initiatives being taken by both governments as well as non-government organizations to spread awareness regarding the benefits associated with minerals. For instance, the Big O campaign, launched by iNova Pharmaceuticals in South Africa, has led to a surge in the awareness on osteoporosis and the importance of calcium for the improvement of bone health.

Top Players in Mineral Supplements Market Are:

• Glanbia plc
• Abbott Laboratories
• Nestlé S.A.
• Biovea
• Herbalife International of America Inc.
• Sanofi
• Amway
• Bayer AG
• Omega Protein Corporation
• Bio Botanica Inc.

Mineral Supplements Market Size Breakdown by Segment

The study offers a comprehensive market segmentation analysis along with market estimation for the period 2017-2030.

Based on Product

• Calcium
• Magnesium
• Iron
• Potassium
• Zinc
• Chromium
• Selenium

  Based on Formulation

• Tablets
• Capsules
• Soft Gels
• Powders
• Gummies
• Liquids

Based on Application

• Food and Beverage
• Pharmaceutical

Based on End-User

• Adult Women
• Adult Men
• Senior Citizen

Geographical analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa