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Mineral Supplements Market

Global Market Study on Mineral Supplements: Rising Preventive Healthcare Trend to Bode Well for Market Growth

Minerals Supplements Market Segmented By Multivitamin and Mineral Supplements, Dietary Supplements, Liquid Feed Supplements, Brain Health Supplements, Online Vitamin and Supplement

Mineral Supplements Market Outlook (2023-2033)

The market for mineral supplements can be expected to expand at a value based CAGR of 7.9% and show an increase in revenue from US$ 1,706.5 Mn to around US$ 3,849.8 Mn by 2033.

Mineral Supplements Market Size (2023E)

US$ 1,706.5 Mn

Projected Sales of Mineral Supplements (2033F)

US$ 3,849.8 Mn

Value CAGR (2023-2033)

7.9%

Value Share of Top 4 Countries (2022E)

39%

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Mineral Supplements Consumption Analysis (2018-2022) Vs. Market Estimations (2023-2033)

The global mineral supplements market has witnessed significant growth in the historical period registering a CAGR of 5.5% in the historical period and was valued at US$ 1,706.5 Mn in 2023. The market is expected to grow steadily with increasing awareness about applications of mineral supplements.

A growing number of customers are turning to healthy eating, and supplements, including mineral supplements, are emerging as a major source of nutrition. Mineral supplement demand is increasing significantly in the global market, owing to increased consumer awareness of their health benefits. Mineral Supplements contain a variety of vitamins and minerals in a single serving, which contributes significantly to its nutritional composition.

Vitamins and minerals are organic compounds and essential nutrients that must be consumed in specific amounts. A customised formulation of vitamins and minerals in liquid or powder form takes into account process conditions and the shelf life of the finished product. Mineral supplements are a blend of macro minerals and ultra-trace minerals, with salts chosen for their minimal impact on final formulations. In the fortification of food and beverages, a customised blend of vitamins and minerals is used.

As the health and nutrition factor would continue to dominate consumer food preferences, rising mineral supplements consumption is expected to drive the market over the coming years. The global market for mineral supplements is estimated to reach an approximate valuation of US$ 3,849.8 Mn in the forecast period.

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What are the Key Trends in the Market for Mineral Supplements?

Acquisitions and Expansions Fueling Industry Growth

Nutritional imbalance has been increasing as people are eating more and more junk food, coupled with sedentary lifestyle, and this is becoming a major issue and leading to early onset of many diseases and disorders, and even untimely death. Deficiency is being met by various mineral and vitamin supplements, and their popularity seems to be rising as the healthy lifestyle trend paces itself.

  • Nestlé Health Science, in August 2021, completed its acquisition of the Bountiful Co.’s core brands, including Nature’s Bounty. This acquisition will help Nestlé solidify its position in the nutritional supplements market. Nestlé aims to strengthen its mineral, vitamin, and herbal product range through various acquisitions.
  • Vitamin Shoppe, a wellness lifestyle company, recently announced its expansion in South Korea with the launch of its direct e-commerce business. South Korean customers can now easily access a wide array of wellness products delivered by the company. This new venture in the Asian market is the firm’s second foray in the region after opening two stores in Vietnam.

Expansion and mergers of such brands hints toward increase in demand for wellness products such as mineral and vitamin supplements.

“Adoption of Mineral Supplementation to Augment Everyday Diet”

Increasing urbanization, rising geriatric population, and burgeoning awareness about preventive healthcare together drive the growth of the global mineral supplements market. A remarkable number of consumers are turning to mineral supplements against allopathic medicines in order to adopt a healthier and safer option. As mineral supplements provide calcium, phosphorus, chromium, magnesium, sulfur, iron, zinc, folic acid, silicon, copper, and cobalt, which help to deal with and prevent mineral deficiency diseases. Moreover, these supplements can be consumed in form of pills, tablets, capsules, granules, gel capsules, powder, and liquid.

Need for Mineral Supplements for Sustaining Healthy Pregnancies”

A large number of consumers, due to their busy lifestyle, are adopting this convenient alternative over other conventional medicine methods. Pregnant women are recommended iron and calcium consumption throughout the pregnancy period. As a result, the demand from pregnant women is also continuously on the rise. In addition, aging population often faces bone related issues, weakness, loss of appetite, weakening digestive system, poor eyesight, and mineral deficiency. Growing prominence of lifestyle disorders is another key factor propelling the demand for mineral supplements on a global level.

“Use of Micro-Encapsulation Technology for Production”

Microencapsulation is a process used to apply a protective coating called a matrix around a particle called as core. The matrix helps in locking core ingredients and stabilizing it until release. The purpose of microencapsulation is to improve solubility and enhance functionality in various vitamin & mineral premix products. Many manufacturing companies producing gummy vitamin products such as tablets and capsules (primarily used in dietary supplements) use microencapsulation to stabilize the core material of the gummy vitamins used in a tablet form.

“Growing Production of Fortified Foods”

Fortification of foods has been witnessing significant increase over the recent past. Various manufacturers are adding beneficial ingredients such as essential micronutrients including calcium, vitamins, minerals, amino acids and inulin to premixes and food products respectively. By pairing various ingredients such as inulin with vitamins or minerals, the premix helps to prevent coronary heart disease. An increasing number of manufacturers are fortifying staple food on a large scale in developing countries in order to leverage potential opportunities arising from growing health awareness among consumers in countries across the globe.

“Lack of Oversight & Increasing Instances of Adulteration during Processing of Supplements”

The recent past has seen an upsurge in the use of supplements. However, inadequate regulatory standards prevent the interference of any regulatory body and leave the validity period of mineral supplements to manufacturers. Thus, lack of quality check may hamper the market growth during the forecast period. Improper labelling is another factor that will continue to restrict the market penetration.

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Country-wise Insights

What does the global mineral supplements market look like?

By geographical analysis, the global mineral supplements market is segmented into six key regions – North America, Europe, East Asia, South Asia & Pacific, Latin America and Middle East and Africa. While North America is predicted to maintain the largest market for mineral supplements, Asia Pacific will witness the fastest growing mineral supplements market. Although the Asia Pacific market is cost-sensitive and volatile, mineral supplements manufacturers are increasingly capitalizing on ample untapped opportunities in this region. Europe also witnesses a swift market for dietary supplements, and will be a major market for mineral supplements during the forecast period.

Why is the Pharmaceutical Sector in the Middle East Experiencing Rapid Growth?

The change in socio-economic factors such as the increase in income, rising affluence and better access to modern facilities have led to various lifestyle changes, incidence of diseases such as cancer, diabetes and cardiovascular diseases, which induce mineral deficiencies such as hypocalcaemia. Growing wealth is becoming a strong driver for health spending in developing markets such as Saudi Arabia, Iran, Israel, and Oman. Also, it creates demand for quality healthcare treatment and services driven by spending power.

Middle East economy is witnessing a shift from being a largely oil-revenue dependent economy to generating revenues from other sectors such as pharmaceuticals. This is actively supported due to larger government budgetary spending on development of pharmaceutical sector.

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Category-wise Insights

What is the Segmental Breakdown of the Mineral Supplements Market?

On the basis of application, the global market for mineral supplements is segmented into pharmaceuticals, food and beverages, and others. Compared to food and beverages, the pharmaceuticals segment consumes larger amounts mineral supplements.

The latter registered the maximum consumption in 2023 with the highest market share, and will continue to be the dominant application-based segment. Among the end-user segments categorized by end-use, the adult women segment will remain predominant against adult men, senior citizens, and others. The growth in adult women segment is attributed to a range of health and weight related problems among middle-aged women.

What is the need for Mineral Supplements in the Pharmaceutical Sector?

Over the span of last decade, the number of disorders related to deficiency or improper functioning of minerals has increased substantially. Anemia, osteoporosis, cystitis, hypophosphatemia, bipolar disorders etc., as some of the common examples of body conditions that are cured with drugs that are formulated with APIs containing varied of minerals salts. Lack of mineral in human body is subjected to body’s exposure to stress, sports, pregnancy, prolonged illness, and patient suffering from these conditions are often recommended with drugs that contain mineral salts as active pharmaceutical ingredients (API).

Competitive Dashboard

The global mineral supplements market is dominated by a large number of multinational corporations. Companies with a global presence account for 40-45% of the market. Due to the rising demand for mineral supplements in non-traditional regions, players in the mineral supplements market are focusing their product offerings specifically on international food manufacturers.

  • In March, Royal DSM and Evonik decided to form a joint venture to produce omega-3 fatty acid products for animal nutrition from natural sea algae whereas in July, DSM and Aerie Pharmaceuticals agreed to collaborate on the delivery of Aerie Compounds for the treatment of retinal illnesses.
  • In February, Glanbia Co-op and the business decided to form a joint venture, Glanbia Ireland, for a consumer products and agribusiness, with 60% and 40% stakes, respectively. For $217 million, the company paid thinkThin, a US company that specialised in protein bars, to be purchased in December 2015. ThinkThin, according to Glanbia, fits strategically into its portfolio of other market-leading performance nutrition brands.
  • A novel product was added to Herbalife Nutrition Ltd.'s inventory specifically for busy Americans who want to maintain a healthy lifestyle. EpiCor, which functions similarly to multivitamins in the immune system, was part of the newly developed vital immunity lineup. EpiCor was developed for its advantages in boosting consumers' immune systems as well as its advantages in vitamin D, zinc, and antioxidants.
  • In 2019, Nu Skin Enterprises, Inc. announced its expansion into the Peru market with Latin American operations witnessing high growth. With growth accelerating in the Peru market, the company positioned its products for growth through the direct sales model.

Mineral Supplements Industry Report Scope

Attribute

Details

Forecast period

2023-2033

Historical data available for

2018-2022

Market analysis

USD million for value

Key regions covered

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

Key countries covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC countries
  • Turkey
  • Northern Africa
  • South Africa

Key market segments covered

  • Application
  • End Users
  • Region

Key companies profiled

  • Glanbia Plc
  • Nu Skin Enterprises, Inc.
  • E. I. du Pont de Nemours and Company
  • NBTY, Inc.
  • Koninklijke DSM N.V.
  • BASF SE (Badische Anilin- und Soda-Fabrik)
  • Bayer AG
  • Atrium Innovations, Inc.
  • Amway
  • Herbalife, Ltd.

Report coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & pricing

Available upon request

Mineral Supplements Industry Research by Category

By Application:

  • Food and beverages
  • Pharmaceutical
  • Others

By End User:

  • Adult Women
  • Adult Men
  • Senior Citizens
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

- Companies Covered in This Report -

  • Herbalife, Ltd
  • Glanbia Plc
  • Nu Skin Enterprises, Inc.
  • E. I. du Pont de Nemours and Company
  • NBTY, Inc.
  • Koninklijke DSM N.V.
  • BASF SE (Badische Anilin- und Soda-Fabrik)
  • Bayer AG
  • Atrium Innovations, Inc.
  • Amway
  • Others

- Frequently Asked Questions -

The global market for mineral supplements has a value of US$ 1,706.5 Mn in 2023.

The global market for mineral supplements has a value CAGR of 5.5% from 2018-2022.

The global market for mineral supplements has a value of US$ 3,849.8 Mn in 2033.

The global market for mineral supplements has a value CAGR of 7.9% from 2023-2033.

The top players hold more than 50-55% of the market share. They include Glanbia Plc, Koninklijke DSM N.V., BASF SE (Badische Anilin- und Soda-Fabrik), Bayer AG, and Amway.

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