Therapeutic Nutrients and Minerals Global Market Report 2024

The therapeutic nutrients & minerals market size has grown strongly in recent years. It will grow from $67.64 billion in 2023 to $73.08 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth observed in the historical period can be attributed to several factors, including the increasing awareness of health and preventive healthcare practices, concerns related to wellness and the aging population, a surge in lifestyle-related diseases, recommendations from healthcare professionals, and the prevalence of nutritional deficiencies and dietary gaps among individuals.

The therapeutic nutrients & minerals market size is expected to see strong growth in the next few years. It will grow to $99.22 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The anticipated expansion in the upcoming period is driven by tailored nutrition and individualized supplements, bolstered by increased emphasis on wellness, immune system reinforcement, and the growing prevalence of e-commerce and direct-to-consumer avenues. Additionally, preferences shifting towards plant-based and natural ingredients, alongside heightened regulatory focus on health claims and labeling, contribute to this growth trajectory. Notable trends projected in this period encompass heightened collaborations within the pharmaceutical sector, amplified demand for trace minerals and micronutrients, heightened attention to mental health and cognitive well-being, a surge in the adoption of sustainable and ethical sourcing practices, and the integration of technological advancements in nutrient delivery systems.

The anticipated surge in the demand for functional foods is poised to drive the growth of the therapeutic nutrients and minerals market in the coming years. Functional foods, characterized by their ability to offer health benefits beyond basic nutrition, are designed to enhance physiological functions and reduce the risk of chronic diseases. Enriched with therapeutic nutrients and minerals, these foods have gained popularity among health-conscious individuals seeking targeted health advantages. Notably, the Institute of Food Technologists (IFT) reported that the sales of functional foods and beverages in the United States reached $83 billion in 2021, reflecting a 6.8% increase over the previous year. This robust demand for functional foods is a key factor fueling the growth of the therapeutic nutrients and minerals market.

The rising prevalence of chronic diseases is expected to further propel the expansion of the therapeutic nutrients and minerals market. Chronic diseases, lasting for three months or more and often worsening over time, prompt consumers to seek products enriched with specific nutrients to address associated deficiencies. As awareness grows regarding the crucial role of nutrition in managing chronic conditions, there is an increasing demand for specialized nutrients and minerals tailored to support overall health and address specific health concerns. A January 2023 report from the National Center for Biotechnology Information (NCBI) revealed a projected increase in the global population with chronic diseases to 142.66 million by 2050, up from 71.522 million in 2020. This escalating prevalence of chronic diseases serves as a driving force for the therapeutic nutrients and minerals market.

Technological advancements have emerged as a prominent trend in the therapeutic nutrients and minerals market, with major companies leveraging new technologies to introduce innovative products and maintain their market standing. An illustrative example is Prodalim Resources Ltd., a Netherlands-based food and beverage service company, which, in March 2022, unveiled the Capsoil FoodTech platform. This platform incorporates next-generation self-emulsified powder technology designed to transform bioactive oil compounds, including nutritional oils, fat-soluble vitamins, and lipid-based nutrients, into easily soluble powders. Such technological innovations contribute to the development of more accessible and versatile therapeutic nutrient products.

Major companies operating in the therapeutic nutrients and minerals market are focusing on the development of new catch-up growth products. Catch-up growth products are specifically designed nutritional supplements or foods intended to support individuals, particularly children, who have faced growth delays or are undernourished. A notable instance is Abbott Laboratories, a US-based medical device company, which, in September 2021, introduced the enhanced formulation of PediaSure in India. This updated product includes arginine and natural vitamin K2, essential nutrients scientifically formulated to support catch-up growth in children. PediaSure, containing 37 growth nutrients, aims to deliver comprehensive and balanced nutrition, fostering longer and stronger bones to unlock the growth potential in children. This strategic focus on developing catch-up growth products reflects the industry's commitment to addressing specific nutritional needs through innovative formulations.

In August 2022, Balchem Corporation, a specialty performance ingredients and nutrients manufacturing company based in the United States, completed the acquisition of Bergstrom Nutrition for an undisclosed amount. This strategic move is intended to broaden Balchem Corporation's market opportunities by incorporating OptiMSM into its product portfolio. The newly acquired range of products, particularly OptiMSM, provides Balchem with a strategic advantage in its core focus areas for therapy, emphasizing performance and longevity. Bergstrom Nutrition, the acquired company, is a US-based manufacturer specializing in dietary nutrient and mineral supplements, with a specific focus on MSM (methylsulfonylmethane). This acquisition aligns with Balchem Corporation's growth strategy and enhances its capabilities in offering innovative solutions in the field of therapeutic nutrients and minerals.

Major companies operating in the therapeutic nutrients and minerals market report are Glanbia plc, Herbalife Nutrition Ltd., Bayer AG, Abbott Laboratories, Nu Skin Enterprises Inc., Otsuka Pharmaceutical Co. Ltd., Alticor Inc., Royal DSM NV, Reckitt Benckiser Group plc, NutraMarks Inc., Pharmavite LLC, Archer Daniels Midland Company, BASF SE, Nestlé SA, Bio Botanica Inc., GlaxoSmithKline plc, International Flavors & Fragrances Inc., Jamieson Wellness Inc., USANA Health Sciences Inc., Albion Minerals, Balchem Corporation, Innophos Inc., AST Enzymes, Nature's Way Brands, FuelMax Pvt. Ltd., Haleon plc, Garden of Life, Integrative Therapeutics Inc., Gemini Pharmaceuticals Inc..

Asia-Pacific was the largest region in the therapeutic nutrients and minerals market in 2023. North America is expected to be the fastest-growing region in the therapeutic nutrients and minerals market report during the forecast period. The regions covered in the therapeutic nutrients and minerals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the therapeutic nutrients and minerals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of therapeutic nutrients and minerals include multivitamins, calcium, and various supplements. Multivitamins are dietary supplements containing a blend of essential vitamins and minerals vital for health. These formulations are available in diverse forms such as capsules, tablets, powders, liquids, or gels, and are retailed through pharmacies, drug stores, supermarkets, hypermarkets, and online channels. They cater to diverse consumer groups, including adults, the elderly, pregnant women, children, and infants.

The therapeutic nutrients and minerals market research report is one of a series of new reports that provides therapeutic nutrients and minerals market statistics, including therapeutic nutrients and minerals industry global market size, regional shares, competitors with therapeutic nutrients and minerals market share, detailed therapeutic nutrients and minerals market segments, market trends, and opportunities, and any further data you may need to thrive in the therapeutic nutrients and minerals industry. This therapeutic nutrients and minerals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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