The global mineral supplements market size is projected to reach USD 14.53 billion by 2025 expanding at a CAGR 5.1% from 2019 to 2025, according to a new report by Grand View Research, Inc. Rising cases of mineral deficiencies, particularly calcium and iron, and consumer willingness to spend more on mineral supplements are the key factors augmenting the market growth. In addition, increasing disposable income and rapidly growing e-commerce sector are anticipated to propel the market over the forecast period.
Increasing prevalence of diseases, such as cancer and diabetes, further boost the demand for mineral supplements as these products are used for the management of associated conditions. Growing consumer interest towards preventive healthcare and increasing ageing population are also significantly contributing toward the industry growth. For instance, a nationwide study published in Cambridge Core journal in 2017 reported that prevention of nutrient deficiencies is the motive for supplement use for around 62.4% of the Germans.
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Emerging local companies, rise in mergers & acquisition and partnerships & collaborations activities, and new product launches are further anticipated to boost the demand for mineral supplements in the market. For instance, in April 2019, Unilever announced the acquisition of OLLY Nutrition, which is a provider of vitamin, mineral, and supplements category. However, recent amendments in the regulatory scenario governing the overall nutrition & dietary supplements in many countries, including U.S., Australia, China, and Brazil, is a key challenge impeding market growth.
Key suggestions from the report:
- In 2018, calcium supplements accounted for the highest revenue share owing to high prevalence of osteoporosis and large commercial availability of calcium supplements in the market
- Magnesium supplements segment is expected to register the fastest CAGR of 7.1% over the forecast period
- Asia Pacific is among the prominent regions, in terms of revenue share, whereas Middle East & Africa is anticipated to witness the fastest growth from 2019 to 2025
- The global mineral supplements market is fragmented in nature. Abbott Nutrition; Nestle SA; Amway; Herbalife International of America, Inc.; and Glanbia plc are some of the key companies in the market
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Grand View Research has segmented the global mineral supplements market on the basis of product and region:
Mineral Supplements Product Outlook (Revenue, USD Million, 2014 – 2025)
Mineral Supplements Regional Outlook (Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- South Korea
- Latin America
- Saudi Arabia
- South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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