Global Mineral Supplements Market Size, Share, Growth Analysis, By Product(Calcium, Magnesium), By End-user(Adults, Geriatric), By Formulation(Capsule, Tablet) - Industry Forecast 2024-2031

Global Mineral Supplements Market size was valued at USD 15.5 billion in 2022 and is poised to grow from USD 16.12 billion in 2023 to USD 22.06 billion by 2031, growing at a CAGR of 4.00% during the forecast period (2024-2031).

The market is experiencing a surge driven by the growing adoption of mineral supplements to address chronic conditions prevalent among a significant portion of the population, such as cancer, osteoporosis, anemia, and more. Major pharmaceutical companies are actively engaging in social campaigns to promote healthier lifestyles and encourage the use of supplements. For instance, in February 2023, Torrent Pharmaceuticals Ltd launched the #BeShelcalStrong TV campaign to raise awareness about calcium deficiency and its impact on daily life. The rise in sedentary lifestyles and unhealthy diets has led to an increased incidence of nutritional deficiencies, affecting proper body functioning and causing issues like fatigue, weak bones, and compromised immune systems. Government initiatives promoting healthier lifestyles are contributing to market growth, along with a focus on innovative product development and exploration of exotic ingredients by key market players. The growing popularity of plant-based products and the preference for personalized preventive products and services over solely curative health practices are also creating opportunities for market expansion.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Mineral Supplements Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Mineral Supplements Market Segmental Analysis

The global mineral supplements market is segmented on the basis of product, end - user, formulation, application, sales channel, region. By product, the market is segmented calcium, Magnesium, Iron, Potassium, zinc, chromium, selenium, others. By end - user, the market is segmented into adults, geriatric, pregnant women, children, infants. By formulation, the market is segmented into capsule, tablet, powder, liquid/gel, others. By application, the market is segmented into general health, bone & joint health, gastrointestinal health, immunity, others. By sales channel, the market is segmented into pharmacies & drug stores, supermarkets & hypermarkets, online channels. By region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.

Drivers of the Global Mineral Supplements Market

The trend towards proactive healthcare is motivating people to adopt preventive measures for maintaining their well-being. Mineral supplements are increasingly recognized as a convenient method to support overall health and preempt potential health concerns.

Restraints in the Global Mineral Supplements Market

The presence of counterfeit mineral supplements in the market, which may lack efficacy or even pose health risks, is a pervasive issue. This not only erodes consumer confidence but also presents a significant hurdle for authentic manufacturers striving to uphold their esteemed reputation.

Market Trends of the Global Mineral Supplements Market

The increasing fascination with plant-based diets has expanded to include supplements, with a rising popularity of plant-based mineral supplements designed to meet the preferences of vegan and vegetarian consumers.