Global Mineral Supplements Market Report 2024

The mineral supplements market size has grown strongly in recent years. It will grow from $15.39 billion in 2023 to $16.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth observed in the historical period can be ascribed to heightened awareness regarding health and wellness, a surge in the prevalence of mineral deficiencies, an aging population, a burgeoning interest in preventive healthcare, and shifts in dietary patterns and lifestyles.

The mineral supplements market size is expected to see strong growth in the next few years. It will grow to $22.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth anticipated in the forecast period is linked to trends in personalized nutrition, escalating consumer preferences for natural and organic offerings, increasing disposable incomes in emerging economies, a focus on transparent labeling and product traceability, and growing consumer concerns regarding sustainability and ethical sourcing. Notable trends expected in the forecast period encompass the ascent of plant-based mineral supplements, the introduction of targeted mineral formulations tailored to specific demographics, the adoption of innovative delivery methods such as gummies and dissolvable tablets, the proliferation of personalized mineral supplement solutions customized to individual requirements, and a heightened emphasis on evidence-based ingredients and scientific research.

The rising prevalence of sports and fitness activities is poised to propel the mineral supplement market in the foreseeable future. These activities encompass various physical endeavors aimed at enhancing health, physical fitness, and athletic performance. Contributing factors to this surge include increasing awareness of the health benefits associated with such activities, improved accessibility to fitness facilities, and a societal focus on well-being. Mineral supplements play a vital role in complementing a balanced diet and meeting the heightened mineral requirements of athletes and fitness enthusiasts engaged in rigorous or prolonged physical exertion. For instance, data from the Sports and Fitness Industry Association (SFIA), a US-based non-profit organization, revealed that in the 2022 calendar year, 77.6% of all Americans, totaling 236.9 million individuals, participated in at least one sports activity, marking a 1.9% increase from 2021. Notably, the sport of Pickleball has experienced remarkable growth, emerging as the fastest-growing sport in America, with participation nearly doubling in 2022, showing an 85.7% year-over-year increase and an astonishing 158.6% rise over three years. Consequently, the upsurge in sports and fitness activities is serving as a catalyst for the mineral supplements market.

Companies operating in the mineral supplements sector are actively pursuing the development of innovative oral nutrition supplements (ONS) to cater to evolving consumer needs and preferences. Oral nutritional supplements, also known as oral liquid supplements, are dietary products designed to provide additional nutrients, energy, and calories, particularly for individuals facing challenges in meeting their nutritional requirements. For example, in May 2023, Arla Foods Ingredients, a Denmark-based ingredient supplier specializing in infant nutrition, medical applications, and sports nutrition, introduced juice-style oral nutrition supplements (ONS) as a novel solution to enhance protein content for medical nutrition purposes. Arla Foods Ingredients' ONS juice-style beverages offer 7% more protein without compromising taste or mouthfeel. These beverages feature Lacprodan BLG-100, a 100% pure beta-lactoglobulin with an outstanding nutritional profile. Moreover, the fat-free formulation, along with the utilization of BLG-100, ensures very low viscosity and product stability throughout its shelf life. Additionally, these products boast a less astringent taste compared to traditional ONS juice-style products, contributing to better compliance with medical nutrition requirements.

In September 2023, Sanofi S.A., a France-based pharmaceutical and healthcare company, completed the acquisition of Qunol for an undisclosed sum. This strategic move bolsters Sanofi's consumer healthcare division by integrating a market-leading brand specializing in mineral-based supplements, thereby facilitating Sanofi's expansion and solidifying its position in the burgeoning mineral supplements market. Qunol, a US-based health and wellness company, is renowned for its natural dietary and mineral supplements.

Major companies operating in the mineral supplements market are Cargill Incorporated, Nestlé S.A., Archer Daniels Midland Company, Pfizer Inc., BASF SE, Bayer AG, Sanofi SA, Abbott Laboratories, GlaxoSmithKline PLC, Otsuka Holdings Co. Ltd., DSM (Koninklijke DSM NV), Amway Corp., Glanbia plc., Orkla, Herbalife International of America Inc., GNC Holdings Inc., Kirkland Signature, Nature's Way Products LLC, Atrium Innovations Inc., Omega Protein Corporation, NOW Health Group Inc., Ricola, Himalaya Wellness Company, Blackmores Limited, Vitabiotics Ltd., MegaFood, Bio Botanica Inc., Pharmavite LLC.

North America was the largest region in the mineral supplements market in 2023. The regions covered in the mineral supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mineral supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Mineral supplements are ingestible substances comprising vital minerals such as calcium, iron, and zinc, designed to meet dietary needs that might not be adequately addressed by regular food consumption. These supplements serve various purposes, including bolstering bone health, assisting metabolism, and remedying mineral deficiencies within the body, thereby supporting overall well-being and addressing specific deficiencies.

The primary mineral supplement products encompass calcium, magnesium, iron, potassium, zinc, chromium, selenium, and others. Calcium supplements, for instance, are dietary products containing concentrated calcium forms crucial for bone and muscle health. These supplements are available in diverse formulations such as capsules, tablets, powders, liquids, gels, and others, accessible through pharmacies, drug stores, supermarkets, hypermarkets, and online sales platforms. They find application across several domains including general health maintenance, bone and joint health, gastrointestinal health, immunity enhancement, and more, catering to a broad spectrum of consumers including adults, the elderly, expectant mothers, children, and infants.

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

The mineral supplements market consists of sales of calcium carbonate tablets, magnesium citrate capsules, iron ferrous sulfate supplements, and zinc gluconate lozenges. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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