PUBLISHER: KBV Research | PRODUCT CODE: 1450407
PUBLISHER: KBV Research | PRODUCT CODE: 1450407
The Global Mineral Supplements Market size is expected to reach $23.7 billion by 2030, rising at a market growth of 5.4% CAGR during the forecast period.
Iron supplements are frequently sought to prevent and treat iron deficiency anemia, especially among individuals with inadequate dietary iron intake, pregnant women, and those with increased iron requirements. Therefore, the iron segment attained 12.45% revenue share in 2022. Pregnant women require additional iron to support the growing fetus and prevent iron deficiency anemia.
With rising healthcare costs and a focus on disease prevention, there is a growing recognition of diet and nutrition's role in maintaining health and preventing chronic diseases. Nutraceuticals are seen as a proactive and preventive approach to health management, supplementing dietary deficiencies and supporting overall wellness.
Additionally, Modern dietary patterns, including processed and convenience foods, often result in nutritional gaps and imbalances. Many individuals may not obtain sufficient minerals from their diets, increasing their risk of deficiencies. Therefore, the rising prevalence of mineral deficiencies drives the market's growth.
However, Excessive intake of certain minerals, such as iron and calcium, can lead to toxicity and adverse health effects. Consumers may be unaware of the recommended daily allowances and exceed safe limits, posing a risk of overdose. Some supplements can interact with medications, affecting their absorption or efficacy. This lack of clarity can contribute to misuse or overuse, raising safety concerns. Therefore, adverse effects and safety concerns are hampering the market's growth.
By Sales Channel Analysis
Based on sales channel, the market is divided into pharmacies & drug stores, supermarkets & hypermarkets, and online channels. The pharmacies & drug stores segment attained 53.14% revenue share in the mineral supplement market in 2022. Pharmacies and drug stores are staffed by trained healthcare professionals, including pharmacists.
By Formulation Analysis
On the basis of formulation, the market is segmented into capsules, tablet, powder, liquid/gel, and others. In 2022, the liquid/gel segment attained 16.56% revenue share in the market. Liquid and gel forms of this are often touted for faster absorption rates than solid forms like tablets or capsules.
By Application Analysis
Based on application, the market is categorized into general health, bone & joint health, gastrointestinal health, immunity, and others. In 2022, the general health segment registered 42.20% revenue share in the market. The growing interest in proactive health management and preventive care is the prime reason for the segment's growth.
By End Use Analysis
By end-use, the market is divided into adults, geriatric, pregnant women, children, and infants. The geriatric segment procured a 20.56% revenue share in the market in 2022. Geriatric individuals often face challenges related to bone health, including a higher risk of osteoporosis and fractures. Calcium, magnesium, and vitamin D supplements are sought after to support bone density and reduce the risk of bone-related issues.
By Product Analysis
Based on product, the market is divided into calcium, magnesium, iron, potassium, zinc, chromium, selenium, and others. In 2022, the calcium segment garnered 39.86% revenue share in the market. Calcium is a critical mineral for developing and maintaining strong and healthy bones.
By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region captured 27.26% revenue share in the market. Despite diverse food options, some individuals in North America may have dietary gaps and nutrient deficiencies.
Recent Strategies Deployed in the Market
List of Key Companies Profiled
Global Mineral Supplements Market Report Segmentation
By Sales Channel
By Formulation
By Application
By End-use
By Product
By Geography