The global mineral supplements market is projected to generate $21 billion revenue by 2030, advancing at a CAGR of 5.3% during 2021–2030. This will be on account of the surging adoption of these nutrients for lowering the risk of various chronic diseases, such as anemia, osteoporosis, and cancer. In addition, the increase in the number of people with a sedentary lifestyle is propelling the demand for these nutrients.
The hectic and busy schedules of individuals have shifted their preference from physical shopping to online shopping. Through online shopping platforms, consumers have access to reviews and all the information about the products. E-commerce websites, such as Amazon.com and Vitacost.com, have grown in popularity in recent years. This trend is expected to augment the sale of high-quality nutritional products in the future. Additionally, these channels also serve as important marketing tools for the players.
The calcium category held the largest revenue share, of more than 26%, in 2021, attributed to the increasing demand for calcium supplements by senior citizens and the growing trend of veganism in developed countries. In addition, calcium is important for various bodily functions, such as the maintenance of enamel, bones, blood, and muscles and a reduction in the risk of hypertension and CVDs prevalence.
Furthermore, there has been a rapid surge in the number of people suffering from obesity in countries such as the U.S., Germany, and the U.K., which is leading to a consumer shift toward natural calcium products.
The demand for potassium is set to record the highest CAGR, in the forecast period, due to the high consumption of potassium as it helps in seamless nerve impulse transmission, fluid balance regulation, and smooth muscle contraction.
Adult women held the largest share of the mineral supplements market, in 2021, propelled by the high requirement for essential nutrients, including zinc, iron, calcium, and potassium, in women during pregnancy. Moreover, the rising deficiency of minerals such as calcium, zinc, and iron and mounting awareness about the health benefits of these products are driving the growth of the adult women category.
APAC dominated the market with more than 50% share in 2021. The rising burden of chronic disorders and the rising need for the management of stress, anxiety, aging, and longevity are driving the regional market expansion. Additionally, the demand for these products in the region would be driven by the escalating education level and growing awareness of sound health in countries such as China, India, and Japan. The snowballing preference for minerals is attributed, in part, to the surging purchasing power of the population.
In North America, the U.S has emerged as the leading market, due to the higher spending capacity of consumers, growing interest in preventive healthcare, increasing elderly population, and mounting awareness of achieving the essential nutrients through diet. Moreover, the increasing number of health clubs, gyms, and fitness centers, coupled with the ascending fitness awareness among youngsters, is set to raise the demand for these supplements.
The major players operating in the global mineral supplements market are Glanbia plc, Abbott Laboratories, Nestlé S.A., Biovea, Herbalife International of America Inc., Sanofi, Amway, Bayer AG, Omega Protein Corporation, and Bio Botanica Inc.