According to Acumen Research and Consulting, the global mineral supplements market size is expected to reach around US$ 19.2 billion by 2026 and growing at noteworthy CAGR around 7.5 % over forecast period 2019 to 2026.
The supplements industry has been constantly expanding since the previous few years, with increasing customer preference for preventive health care. Mineral supplements assist individuals of all ages to live a good life, avoiding disorders of dietary deficit.
The report provides analysis of global Mineral Supplements market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
The worldwide market for mineral supplements is driven by an increase in urbanisation, an increasing geriatric population and growing awareness of preventive health care. In order to make a healthier and safer choice, a significant amount of customers use mineral supplements against allopathic drugs. Calcium, nitrogen, chromium, magnesium, sulphur, iron, zinc, follic acid, silicon, copper and cobalt are mineral supplements that are important for the treatment and prevention of maladies of mineral deficiency. In addition, pills, tablets, capsules, granules, gel capsules, powder and fluid can be eaten in the form of these additives. This is a convenient solution to other standard medicines because of their busy lifestyles. The use of iron and calcium throughout the pregnancy is suggested for pregnant females. This also causes a steadily increasing demand for pregnant females. Moreover, the aging population is often affected by bone problems, weakness, appetite loss, weak digestive tract, bad eyesight and mineral deficiency. Another important factor driving the demand for mineral supplements globally is the increased importance of lifestyle disorders. Recently, the use of supplements has increased. However, insufficient regulatory norms discourage any regulating body from interfering and leave producers with the validity of the mineral supplements. This can hinder market growth during the forecast period by failing a quality control. Another factor restricting market penetration is incorrect labeling.
The increased demand for products has boosted health issues and altering lifestyles and diets. The main market drivers include a positive perspective for sports nutrition. Growth in the amount of sports worldwide events such as Big Bash and the Indian Premium League have compelled athletes to concentrate on their strength. Moreover, the development is anticipated to be driving increase in the amount of sports complexes and gyms.
In the course of the next seven years, rapid urbanization and increasing disposable income, as well as increasing consumer knowledge about health problems, are anticipated to boost market development. Because of the elevated incidence of cardiovascular illnesses and of weight management programmes, the favorable prospects for medical nutrition are anticipated to boost product demand.
The consumption of nutritional supplements with additional health and wellness advantages is very positive. Rising geriatric population, growing medical costs, changing lifestyle, food innovation, medical findings, and greater pricing expectations have all contributed to general market growth and product demand.
Increasing demand for organic products in the U.S., Argentina and Australia compelled regulatory institutions to develop policies supporting an increased manufacturing output for organic food, which in the next few years will lead to a reduction in the use of dietary supplements. The second-largest industry in the Asia Pacific region represented more than 30 percent of its share in 2018. With growing demand for natural products the demand for nutritional supplements in Japan is anticipated to boost, with growing sales of royal jelly, green juice, blueberry, black and chlorela vinegar. Athletes are anticipated to have access to new product launches by Amway and GSK to weight management in the next few years. In the near future, however, increasing demand for organic food will continue to hamper market development.
The worldwide mineral supplements market is divided into pharmaceuticals, foods and drinks, and other products based on the implementation. The pharmaceutical sector consumes bigger quantities of mineral supplements compared with meat and drinks. The latter recorded the largest market share of the peak usage in 2018 and will remain the dominant application segment. This segment will increase its revenue in 2013 by approximately US$ 7 million, with the CAGR expected to rose by approximately 7.5% over 2019-2026. The adult female segment will stay predominantly compared with adult males and seniors among the end-user sections classified by end-use. The adult females segment was the biggest share on the market in 2013; during the forecast period, this segment will increase by 7.5 percent to CAGR. This increase is caused by a range of medium-aged women's health and weight problems.
The increasing demand for sport nutrition is anticipated to play a decisive role in encouraging product use in North America, owing to the increased significance of active lifestyle and knowledge about the advantages of protein consumption. In addition, increasing awareness of protein use in developing countries, including USA and Canada, is anticipated to raise demand for the maintenance of muscle mass and the maintenance of optimal nutrition levels among middle-aged adult people.
Increased awareness of dietary enrichment is anticipated to be a positive factor for Asia Pacific in China and India. Regulatory assistance to encourage investment together with public projects is anticipated to increase the national demand in developing areas, such as India, Indonesia, China and Malaysia. In advanced areas such as Germany and the UK, the increased consumption of protein in Europe is growing. The use of amino acids in dietary supplement manufacturing is anticipated to be promoted over the predicted period. Furthermore, growing sales of multivitamin products, especially vitamin B and C, are anticipated to impact strongly on the developed markets in the near future in view of their increased acceptance among professional employers and body builders.
Global Mineral Supplements Market, By Application
Global Mineral Supplements Market, By End Use
Global Mineral Supplements Market, By Geography
The market research study on “Mineral Supplements Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Mineral Supplements market segments with market dynamics and their impact. The report also covers basic technology development policies.
It offers an assessment of the recent industry trends for each sub-segment between 2015 and 2026, and anticipates income development at worldwide, regional and nation levels. For this research, on the grounds of the application, end use and region ARC segmenteted the worldwide mineral supplement market report:
Key Players & Strategies
Some of the leading companies in the global market for mineral supplements, include Koninklijke DSM N.V., E. I. du Pont de Nemours and Company, BASF SE, Glanbia Plc., Nu Skin Enterprises, Inc., and Bayer AG. A few other notable players are Amway, Atrium Innovations Inc., and Herbalife, Ltd.