Mineral Supplements Market Size, Share & Trends Analysis Report By Product (Calcium, Magnesium, Iron, Potassium, Zinc, Chromium, Selenium), By End-use, By Formulation, By Application, By Sales Channel, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global mineral supplements market size was valued at USD 15.08 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 3.3% from 2023 to 2030. Growing adoption of mineral supplements to manage chronic conditions due to the large percentage of the population suffering from chronic diseases such as cancer, osteoporosis, anemia, and osteoporosis is anticipated to drive the market. Major pharmaceutical companies are carrying our social campaigns to promote healthy lifestyle and supplement consumption. For instance, in February 2023 Torrent Pharmaceuticals Ltd revealed its television campaign named as #BeShelcalStrong. The program focuses on increasing awareness regarding calcium deficiencies and its effects on daily life.

According to the International Osteoporosis Foundation statistics, in Canada, about 2 million people were suffering from osteoporosis in 2017. Furthermore, the growing trend of adopting preventive health management practices due to the increasing prevalence of lifestyle diseases fuels the market growth. For instance, as per the data released by the WHO, diabetes caused 1.5 million deaths in 2019, out of which 48% of deaths occurred before the age of 70. The rising number of fitness clubs, along with growing awareness about healthy lifestyles, further propels the market growth.

Growing adoption of a sedentary lifestyle, along with the increased intake of an unhealthy diet, has led to a rise in the number of people dealing with nutritional deficiencies. Different proportions of minerals are required for the proper functioning of the body. These mineral deficiencies can lead to different types of health issues such as fatigue, weak bones, and decreased immune system. As per the data of NutraIngredients-USA, iron deficiency is the most common among the population of the U.S. Furthermore, growing government initiatives to promote a healthy lifestyle further fuel the market growth.

According to UNICEF, in Latin America, 3 out of 10 individuals are overweight. As per various studies, minerals like iron, magnesium, zinc, and calcium help in managing weight and curbing obesity. Such factors are expected to positively impact market growth.

In addition to the growing awareness regarding the benefits of mineral supplements, key market players are focusing on innovative product development and research of exotic ingredients. The growing trend of plant-based products further brings growth opportunities for the market. Moreover, in order to manage metabolic disorders, consumers are opting for personalized preventive products and services rather than opting for curative health management practices, thus positively impacting the market growth.

Unlike other industries, the onset of the COVID-19 pandemic led to a rise in the demand for mineral supplements. According to a report published by the National Center for Biotechnology Information, the infection had a negative impact on people who had a mineral deficiency. Recent research suggests that giving higher doses of mineral supplements than suggested could assist COVID-19 patients to reduce viral load and hospitalization. Thus, it led to a surge in the launch of new products to cater to the growing demand among consumers. However, the sale of counterfeit products is expected to hamper the market growth. Economic crisis and political conflicts disrupt the supply chain, which leads to a rise in the production of locally made, cheap products. Growing demand and easy accessibility of mineral supplements have further led to a rise in the availability of counterfeit products.

Formulation Insights

In 2022, tablet dominated the market and accounted for a revenue share of over 36.0%. Availability of majority of products in the form of tablets is the major reason for the segment dominance. Furthermore, high acceptance rate of mineral tablets is also expected to be the major reason for segment growth over the forecast period.

On the other hand, liquid/gel segment is expected to emerge as the most lucrative segment. Increasing number of product launches of mineral liquids along with ease of administration of liquid forms in children is expected to drive the segment growth in coming years. For instance, in March 2023, Vestige launched Concentrated Mineral Drops which is a sea mineral supplement. The product has been approved by American Vegetarian Association for consumption.

Sales Channel Insights

In 2022, pharmacies & drug stores segment dominated the market and accounted for a revenue share of 52.2%. Well established supply chain and store presence across emerging economies has resulted in major revenue generation of mineral supplements from pharmacies & drug stores.

Online Channels segment is expected to grow at a fastest CAGR of 4.4% over the forecast period. Advent of online pharmacies, along with increasing number of mobile platforms supplying OTC supplements is the major reason for the segment growth. Online platforms provide access to a wide range of supplement brands and products, often more extensive than what is available in local stores. This allows customers to find specific supplements or explore new options that may not be readily accessible offline. Over time, consumers have become more comfortable with online shopping and have developed trust in reputable online retailers. Secure payment gateways, reliable customer reviews, and return policies have helped build confidence in purchasing supplements online.

Application Insights

In 2022, bone & joint health segment dominated the market and accounted for a revenue share of over 27.2%. Rising calcium deficiencies amongst teenagers and women is the major reason for increased consumption of mineral supplements for bone & joint health. As the global population ages, there is an increased focus on maintaining good bone and joint health. Older individuals are more prone to conditions like osteoporosis and arthritis, which can lead to weakened bones and joint discomfort. Supplements that support bone density and joint function become sought after to address these concerns. Also, many people engage in physical activities such as sports, exercise, and fitness routines that put stress on their bones and joints. This can lead to wear and tear, injuries, or general discomfort. Bone and joint health supplements are seen as a way to support recovery, reduce inflammation, and promote overall joint flexibility and strength.

General Health segment is expected to grow with a CAGR of 3.5% over the forecast period. Growing interest in proactive health management and preventive care is the prime reason for the segment growth. People are seeking ways to support their overall well-being and are becoming more conscious of their nutrient intake. Mineral supplements are seen as a convenient way to complement a balanced diet and address potential nutrient deficiencies.

End-Use Insights

In 2022, Adults segment dominated the market and accounted for a revenue share of over 45.6%. Increasing mineral deficiencies along with high prevalence of calcium deficiency in working women is the major reason for the segment growth. Adults may follow specific dietary patterns such as veganism, vegetarianism, or gluten-free diets, which can pose challenges in meeting certain mineral requirements. For example, iron and zinc are more commonly found in animal-based foods, and individuals following plant-based diets may have higher needs for these minerals. In such cases, mineral supplements can help ensure an adequate intake.

Children segment is anticipated to grow with a steady CAGR of 3.6% over the forecast period. Children experience rapid growth and development, and minerals are essential for various physiological processes during this period. Minerals like calcium, iron, zinc, and magnesium are crucial for bone development, cognitive function, immune support, and overall growth. Supplementing with minerals can help support these critical processes. Furthermore, increased social programs promoting bone health in children is a major factor for rising consumption of mineral supplements among children.

Product Insights

In 2022, calcium dominated the market and accounted for a revenue share of over 27.7%. This is attributed to the growing incidence rate of osteoporosis throughout the world, especially among the women and geriatric population. As per the statistics released by the International Osteoporosis Foundation, annually, about 8.9 million bones are fractured due to osteoporosis. Besides, the launch of new innovative products contributed to the market growth. For instance, in December 2018, Nanova Tech, Inc. introduced Nano-Cal, a next-generation supplement, on its e-commerce website.

Potassium is expected to register the fastest growth rate over the forecast period and is anticipated to grow lucratively over the forthcoming years. Rising awareness about the benefits of potassium consumption will have a positive impact on the market growth. Some of the benefits associated with the consumption of potassium supplements are regulation of fluid balance, seamless nerve impulse transmission, and smooth muscle contraction. Furthermore, potassium helps prevent water retention and reduces blood pressure, thereby preventing individuals from risks arising from stroke and other cardiovascular diseases. In addition, potassium supplements help in preventing kidney stones and osteoporosis. Companies are focusing on making potassium ingredients suitable for a variety of formulations.

Regional Insights

In 2022, Asia Pacific held the largest revenue share of 52.5%. The key factors that contributed to the growth are the high prevalence of chronic diseases, the growing geriatric population, the presence of a large number of market players, and emerging contract manufacturing hubs, in countries like the Philippines, India, and China. Moreover, rapidly growing disposable income and growing adoption of a healthy lifestyle impacted the market growth positively. For instance, India’s discretionary spending and per capita income are projected to reach 45% and 10.2% by 2025. The Asia Pacific market is expected to hold significant potential for investment, particularly for herbal and Ayurveda extract-based products. This is due to the easy availability and high abundance of raw materials in India and Southeast Asia.

The Middle East and Africa region is expected to be one of the fastest growing with CAGR of

3.5% over the forecast period. The growing number of manufacturers and initiatives for increasing knowledge about the benefits of minerals are expected to boost the market growth in the forecast period. For instance, in 2018, the Big O campaign was established by iNova Pharmaceuticals to increase awareness about osteoporosis and the importance of calcium for bone health. The company sells the B-Cal calcium supplement line, which is one of the most popular calcium supplement products in South Africa.

Key Companies & Market Share Insights

Growing investments in the research & development sector, collaborations with other companies, and mergers & acquisitions are expected to drive the market. Innovations, product approvals, product portfolio expansions, and expanding business footprint are the key strategies adopted by the market players for gaining a competitive edge. For instance, in February 2022, Under the Nutrilite brand, Amway India introduced mineral supplements in gummies and jelly strips format. These products help maintain the body's immune system, bone health, and overall well-being. Some prominent players in the global mineral supplements market include: Some of the key players in the global mineral supplements market include:

• Glanbia, plc.

• Abbott

• Nestle

• Biovea

• Herbalife International of America, Inc.

• Sanofi

• Amway

• Bayer AG

• Omega Protein Corporation

• Bio Botanica, Inc.

• Pharmavite LLC

• DSM

• Nu Skin

Mineral Supplements Market Report Scope

Global Mineral Supplements Market Report Segmentation

This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For the purpose of this report, Grand View Research has segmented the global mineral supplements on the basis of product, end-use, formulation, application, sales channel and region

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Calcium

  • Magnesium

  • Iron

  • Potassium

  • Zinc

  • Chromium

  • Selenium

  • Others

• Formulation Outlook (Revenue, USD Million, 2018 - 2030)

  • Capsule

  • Tablet

  • Powder

  • Liquid/Gel

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • General Health

  • Bone & Joint Health

  • Gastrointestinal Health

  • Immunity

  • Others

• Sales Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Pharmacies & Drug Stores

  • Supermarkets & Hypermarkets

  • Online Channels

• End-Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Adults

  • Geriatric

  • Pregnant Women

  • Children

  • Infants

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait