Rockville, Nov. 28, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a provider of market research and competitive intelligence, the global Mineral Supplement Market is estimated at US$ 19.21 billion in 2024 and is predicted to expand at a CAGR of 4.4% between 2024 and 2034. The mineral supplement business is at the forefront of the growing global interest in health and wellness. The market for mineral supplements is expected to grow significantly since holistic wellness and preventive healthcare are becoming more and more relevant.
The market for mineral supplements encompasses a wide range of products that are designed to offer the vital minerals required by the body for specific bodily activities. They come in a variety of forms, including capsules, tablets, powders, and liquids. Mineral supplement efficacy and bioavailability are being improved by advancements in formulation techniques and delivery systems.
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Key Segments of Mineral Supplement Industry Research Report
| By Application | By Product Type | By Formulation | By End User | By Sales Channel |
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Heightened awareness regarding the benefits of natural and organic supplements is driving consumer preference towards clean-label mineral supplements. Consumers increasingly prioritize clean-label supplements made from natural and organic sources. Brands are responding by offering products free from artificial additives, appealing to health-conscious consumers.
Key Takeaways from Market Study
- The global market for mineral supplements is estimated at US$ 19.21 billion by the end of 2024.
- Worldwide sales of mineral supplements are predicted to rise at 4.4% CAGR between 2024 and 2034.
- The market is projected to reach US$ 29.56 billion by the end of 2034.
- North America is estimated to account for 21.2% share of the global mineral supplement market in 2024.
- Based on product type, the calcium segment is forecasted to advance at a CAGR of 4.6% through 2034.
- The pharmacies & drugstores segment is projected to hold 32.4% of the global market share by 2034.
- Demand for iron supplements is predicted to advance at 4% CAGR over the next 10 years.
“The mineral supplement market is experiencing substantial growth and transformation owing to shifting consumer preferences, technological advancements, and a deeper understanding of the role that minerals play in maintaining optimal health,” says a Fact.MR analyst.
Surge in Global Health Consciousness Driving Demand for Mineral Supplements
Individuals from all demographics are becoming increasingly aware of the significant relationship between their lifestyle choices and overall well-being. This increased awareness has sparked an evolutionary change in consumer behavior, directing consumers toward a more proactive approach to health management. People are actively pursuing preventative measures to improve their health and vitality rather than simply looking for solutions to issues. An increasing number of people recognize the importance of minerals in maintaining optimal physiological functioning, as part of this holistic approach.
Consumers are becoming increasingly aware of the important minerals such as calcium, magnesium, iron, and zinc in supporting a wide range of physiological functions such as bone health and immune system function. This intentional effort toward well-being has pushed the demand for mineral supplements as people attempt to address nutritional gaps and ensure adequate consumption of these key micronutrients. This tendency is not limited to a single demographic; it crosses generations, acknowledging both the younger, health-conscious demographic willing to implement preventative measures early on and the older population wanting to retain vitality and treat age-related health concerns.
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| Report Attribute | Details |
| Value Projection (2034) | USD 29.56 Billion |
| Growth Rate (2024-2034) | 4.4% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 30 Tables |
| No. of Figures | 127 Figures |
Competitive Landscape
Leading companies in the mineral supplement market, such as Amway, Bayer AG, and Herbalife, navigate a dynamic competitive arena where established players vie for market dominance, innovative start-ups disrupt with specialized offerings, and evolving consumer preferences continuously shape strategies and product offerings in the quest for an expanded market share.
- In February 2022, Amway India introduced vitamins and minerals in gummies and jelly strip shapes under the Nutrilite brand, supporting overall well-being, including bone health and the immune system.
- NOW Foods launched Magnesium Bisglycinate Powder in May 2022, a highly absorbable form of magnesium that enhances the functioning of muscles and nerves.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the mineral supplement market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on application (pharmaceuticals, food & beverages, others), product type (calcium, magnesium, iron, potassium, zinc, chromium, selenium, others), formulation (capsules, tablets, powder, liquid/gel), end user (adults, geriatric, children, others), and sales channel (pharmacies & drugstores, supermarkets & hypermarkets, online channels, convenience stores, direct sales), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
Checkout More Related Studies Published by Fact.MR Research:
Green Food Supplements Market: Green food supplements market is expected to grow at a high pace owing to the rising population, rising incidence of health problems, and growing consumer awareness.
Nutraceutical Supplements Market: The global nutraceutical supplements market reached US$ 87.41 billion in 2022, according to a recently published study by Fact.MR. The market is projected to advance faster going ahead at a CAGR of 7.9% and reach a value of US$ 201.75 billion by the end of 2033.
Algae Supplements Market: Across the study period (2023 to 2033), the global algae supplements market is projected to expand at a healthy 6.5% CAGR. Worldwide demand for algae supplements accounts for a market value of US$ 1.1 billion in 2023 and is forecasted to reach US$ 2.07 billion by the end of 2033.
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