The global mineral supplements market size was valued at USD 11.75 billion in 2020 and is anticipated to expand at a CAGR of 5% during the forecast period, 2021-2028. The growth of the market is attributed to the increasing prevalence of chronic and lethal diseases such as anemia, diabetes, cancer, and osteoporosis. Mineral supplements are regularly used for the diagnosis of these conditions.
A mineral and vitamin supplement delivers a large variety of nutrients which can be found in food generally. They are also called multivitamins. Supplements come in different forms according to the preference of the consumer, be it chewable tablets, powders, liquids, or pills. A standardized multivitamin tablet normally consists of water-soluble vitamins, fat-soluble vitamins, and minerals. Water-soluble vitamins can pass through the consumer body with ease and mostly consists of Vitamin B, Vitamin C, thiamine, riboflavin, pantothenic acid, B6, biotin acid, niacin, folic acid & B12. Fat-soluble vitamins include vitamin A, D, E & K which do not pass through the body like the water-soluble vitamins and are stored in the cells of the consumer body. There are also multivitamin pills that do not contain minerals or vitamins, but include other substances including the antioxidants such as lutein and lycopene.
The National Diabetes Statistics conducted a survey in 2020 and their report was cross-referenced by the WHO report to conclude that there were over 34 million people of all age groups in the United States of America who were diabetic, which is approximately 10.4% of their entire population. These stats show that the importance of mineral supplements was not only increasing but have reached to a point of necessity. The COVID-19 pandemic has reduced the growth of the global mineral supplements market initially. However, upon further studies, researchers and scientists found out that the coronavirus has the viral gene of accelerating illness of the hosts. Basically, a patient was more susceptible to the COVID-19 virus than that of a healthy person. This steered to hospitals, clinics, and healthcare laboratories to focus more on the development of mineral supplements for the prevention and treatment of diseases and this led to its market growth.
The report on the global mineral supplements market size includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Mineral Supplements Market Size - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Products (Calcium, Magnesium, Iron, Potassium, Zinc, Chromium, Selenium, and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Trends, and Revenue Forecast |
Key Players Covered in the Report |
Unilever; Abbott; Nestle SA; Amway; Herbalife International of America Inc; and Glanbia plc |
Based on products, the global mineral supplements market is segmented into calcium, magnesium, iron, potassium, zinc, chromium, selenium, and others. The calcium segment is expected to constitute the major share of 32% the market in 2019 due to the increasing incidences of osteoporosis. There is also an increase in the cases of lethal diseases such as breast cancer for which calcium mineral supplements are doctor’s prescription for consumption of these patients.
Meanwhile the magnesium segment is anticipated to grow with a significant CAGR of 7% during the forecast period, 2021-2028. The major reason attributing to this market growth is the increased applications found in multiple health conditions such as migraine, bone health, hypertension, and others.
On the basis of regions, the global mineral supplements market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to constitute the largest share in 2020. This regional market growth can be attributed to the growing research & development expenditure along with the rising in adoption of the latest technology. The presence of the largest manufacturing hubs in countries such as China and India also fuel the regional market growth.
However, Middle East & Africa is expected to exhibit a rapid CAGR of 5.9% during the forecast period 2021-2028, due to the increasing awareness of the benefits of mineral supplements. The governments of these countries along with private investors have started funding in the supply chain and distribution of mineral supplements to reach the entire public.
The global mineral supplements market size has been segmented in terms of
Major players competing in the global mineral supplements market are Unilever; Abbott; Nestle SA; Amway; Herbalife International of America Inc; and Glanbia plc. These market players are involved in several business strategies such as mergers, acquisitions partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. Unilever announced the deal on the acquisition of a provider of mineral, supplements and multivitamins category called OLLY Nutrition in October 2019.
The global mineral supplements market size has been segmented in terms of
Major players competing in the global mineral supplements market are Unilever; Abbott; Nestle SA; Amway; Herbalife International of America Inc; and Glanbia plc. These market players are involved in several business strategies such as mergers, acquisitions partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. Unilever announced the deal on the acquisition of a provider of mineral, supplements and multivitamins category called OLLY Nutrition in October 2019.
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