by The global mineral supplements market, which was valued at approximately US$20 billion in 2021, is anticipated to maintain its remarkable growth trajectory in the foreseeable future. This report delves into the key drivers behind the rising sales of mineral supplements and highlights the major categories offering substantial business opportunities within this thriving industry.
Mineral Supplements Address Nutritional Deficiencies and Changing Lifestyles
The prevalence of nutritional deficiencies, driven by sedentary lifestyles and unhealthy dietary habits, has become a global concern. Essential vitamins and minerals are vital for the proper functioning of the human body, and their absence can lead to long-term health issues. This has led to an increased awareness of the importance of mineral supplements in preventing complications such as weak bones, low immunity, and fatigue caused by mineral deficiencies. Moreover, mineral supplements are being recognized for their potential to halt the progression of fatty liver disease, a condition of growing concern. Non-alcoholic fatty liver disease (NAFLD) affects about 25% of the global population and is expected to rise. Lifestyle changes and a focus on a nutritious diet are recommended to prevent the development of liver fat, creating significant growth opportunities for the mineral supplements market.
Calcium Dominates the Mineral Supplements Market
Calcium is one of the most widely used mineral supplements globally, with a substantial and enduring demand. This can be attributed to the increasing prevalence of conditions like osteoporosis and arthritis, particularly among the elderly and women. In the United States alone, approximately 24% of the population suffers from arthritis, according to the Centers for Disease Control and Prevention (CDC). Osteoporosis, which results in more than 8 million bone fractures annually, has driven the demand for calcium supplements to combat deficiencies and reduce the burden of bone-related disorders. This is expected to bolster the sales of calcium supplements and contribute to the overall growth of the mineral supplements market worldwide.
Growing Demand for Potassium Supplements
The mineral supplements market is also witnessing a surge in demand for potassium supplements due to increased awareness of their benefits. Potassium supplements aid in regulating fluid balance, smooth muscle contraction, and nerve impulse transmission. Additionally, they help lower blood pressure, reducing the risk of strokes and cardiovascular disorders. The prevention of kidney stones is another functional benefit driving demand for potassium supplements, further fueling market growth.
Asia Pacific Leads the Global Mineral Supplements Market
The Asia Pacific region is at the forefront of the global mineral supplements market, driven by the rising incidence of chronic illnesses in emerging nations. The increasing geriatric population and growing awareness, especially among millennials, regarding the inclusion of supplements in their diets, are instrumental in driving market growth. Mineral deficiencies are also prevalent in many Asian countries, prompting individuals to consider supplementing their diets with minerals like copper and zinc. This awareness has led to a surge in demand for mineral supplements, helping to address issues such as growth retardation, impaired immune function, and appetite loss. Factors like a growing consumer base, urbanization, economic growth, and a favorable business environment are further propelling the market in the Asia Pacific region, offering an optimistic outlook for manufacturers in the coming years.
Competitive Landscape
The mineral supplements market is witnessing significant developments, including the introduction of new products and formulations, collaborations, acquisitions, and capacity expansions. For instance, Nestle Health Sciences acquisition of core brands from Bountiful Co., including Nature’s Bounty, in August 2021, aims to strengthen its position in the supplement and nutrition space. Amway India, under its Nutrilite Brand, launched mineral supplements in various formats such as jelly strips and gummies in February 2022. Key players in the mineral supplements market include Abbot, Sanofi, Glanbia Plc., Herbalife International, Bayer AG, Koninklijke DSM N.V., Omega Protein Corporation, Nu Skin, Bio Botanica Inc., and Biovea, among others.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/mineral-supplements-market
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This press release first seen on Brilad
COMTEX_442127141/2840/2023-10-19T11:38:11
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.