Roughly equating the valuation of US$20 Bn in 2021, global mineral supplements market will continue its noteworthy growth in the near future. The report is an attempt to uncover the key factors associated with climbing sales of mineral supplements, as well as the major categories that hold notable business opportunity.
Mineral Supplements Market Sustains in Line with Widespread Prevalence of Nutritional Deficiencies, and Mass Lifestyle Shifts
Increasing nutritional deficiencies among general population owing to sedentary lifestyle and consumption of unhealthy diet and irregular meals have been witnessed worldwide. For appropriate functioning of human body, different proportions of vitamins and minerals are essential, absence of which can lead to long-term health issues. This has triggered the use of mineral supplements backed by rising awareness of complications such as weak bones, low immunity and fatigue caused by mineral deficiencies. Furthermore, ability of mineral supplements to stop progression of fatty liver disease is expected to fuel their demand. Significant prevalence of non-alcoholic fatty liver disease (NAFLD) has become a subject of concern among individuals. According to the National Centre for Biotechnology Information (NCBI), prevalence of NAFLD worldwide is around 25% and is likely to increase. This disorder is being addressed by emphasising on lifestyle changes and consumption of nutritional diet to prevent development of fats in liver. This factor is likely to pave potential opportunities of growth for the mineral supplements market in the coming years.
Calcium to Account for a Significant Revenue Share in Mineral Supplements Market
Calcium as a mineral supplement has gained significant traction since past several years and is expected to maintain status quo as a widely used element worldwide. This can be attributed towards increasing prevalence of osteoporosis and arthritis among geriatric and women population. For instance, according to analysis carried out by CDC (Centres for Disease Control and Prevention), around 24% of the population in the US alone suffers from arthritis and its aftereffect. As per International Osteoporosis Foundation, more than 8 million bones undergo fracture owing to osteoporosis each year. This has resulted in an increase in the demand for calcium to cope up with its deficiency and avoid arthritis or similar conditions, thus reducing burden of bone related disorders. This factor is expected to fuel sales of calcium supplements, in turn contributing towards the value growth of the mineral supplements market on the global front.
Alternatively, the mineral supplements market is also influence by growing demand for potassium. This is mainly owing to rising awareness apropos to consumption of potassium and its associated benefits. Potassium supplements facilitate fluid balance regulation, smooth muscle contraction and seamless transmission of nerve impulses. In addition, it also supports in reducing blood pressure, thus preventing risks from strokes and cardiovascular disorders. Other functional benefits such as prevention of kidney stones have fuelled demand for potassium supplements, consequently aiding market growth.
Asia Pacific Poised to Spearhead Global Mineral Supplements Market
Rising occurrences of chronic ailments across emerging nations in Asia Pacific continue to influence the demand for mineral supplements. Moreover, increasing geriatric population coupled with growing awareness apropos to inclusion of supplements in diet by millennials remains instrumental in driving the growth of the mineral supplements market in Asia Pacific region. In addition, rising incidences of mineral deficiency across Asian countries is expected to fuel sales of mineral supplements. For instance, according to World Health Organization (WHO), intake of mineral supplements such as copper and zinc was significantly less in Southeast Asian countries. This can result in retardation of growth, impaired immune functioning, and appetite loss.
Zinc deficiency can also cause diarrhoea, hair loss, impotence, and skin lesions. This triggered awareness regarding inclusion of such supplements in regular diet plans, in turn complementing market growth. Moreover, other macro factors such as increasing consumer pool backed by rising population, favourable business environment and increasing urbanisation, and economic growth have attracted several businesses across industries such as food and beverages, pharmaceuticals, and chemicals. These factors are poised to boost the market growth in Asia Pacific, offering an optimistic scenario for manufacturers in the coming years.
Mineral Supplements Market: Competitive Landscape
Development of new products and formulations, collaborations, acquisitions, and capacity expansions has been observed in the mineral supplements market. For instance, in August 2021, Nestle Health Science concluded the acquisition of core brands of Bountiful Co., including its Nature’s Bounty. With this acquisition, Nestle eyes to strengthen its position in the supplement and nutrition space and aims to expand its vitamin, herbal and mineral supplements product range. In February 2022, Amway India, under its Nutrilite Brand, launched mineral supplements in different formats such as jelly strips, and gummies.
A few of the major players in mineral supplements market include Abbot, Sanofi, Glanbia Plc., Nestle Health Science, Herbalife International, Bayer AG, Koninklijke DSM N.V., Amway, Omega Protein Corporation, Nu Skin, Bio Botanica Inc., and Biovea.
The Global Mineral Supplements Market Is Segmented As Below:
By End User
Key Elements Included In The Study: Global Mineral Supplements Market
Post Sale Support, Research Updates & Offerings
We value the trust shown by our customers in Fairfield Market Research. We support our clients through our post sale support, research updates and offerings.
Under uncertainty, traditional approaches to strategic planning can be downright dangerous. True ambiguity is no basis to forecast the future – degree of risk, the magnitude of circumstances, conditions and consequences are not known or unpredictable. To avoid dangerous binary views of uncertainty; strategic posture, moves and actions through market research is the best bet.Read more