Mineral Supplement Market Expected to Grow at 4.4% CAGR to $29.56 Billion by 2034

The global mineral supplement market, valued at US$ 19.21 billion in 2024, is anticipated to grow at a CAGR of 4.4% from 2024 to 2034. This growth is driven by increasing global interest in health and wellness, with the mineral supplement industry positioned at the forefront. The market is expected to expand notably as holistic wellness and preventive healthcare gain prominence worldwide. 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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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 poised for substantial growth, with an estimated value of US$ 19.21 billion by the end of 2024. Sales of mineral supplements are forecasted to increase at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2034, reaching US$ 29.56 billion by the end of the forecast period. This growth trajectory underscores the rising consumer focus on health and wellness globally, driving demand for supplements that support nutritional needs and preventive healthcare practices.

In 2024, North America is expected to hold a significant share of the global mineral supplement market, accounting for 21.2%. The calcium segment, a key product type within the market, is projected to grow at a CAGR of 4.6% through 2034, reflecting ongoing consumer interest in bone health and overall wellness. Furthermore, pharmacies and drugstores are anticipated to dominate distribution channels, capturing 32.4% of the market share by 2034. Demand for specific supplements, such as iron, is also forecasted to advance at a steady 4% CAGR over the next decade, driven by increasing awareness of iron deficiency and its health implications globally.

List of Key Companies Profiled in The Report

Glanbia Plc
Nu Skin Enterprises, Inc.
I. du Pont de Nemours and Company
NBTY, Inc.
Koninklijke DSM N.V.
BASF SE (Badische Anilin- und Soda-Fabrik)
Bayer AG
Atrium Innovations, Inc.
Amway
Others

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.

Notable Developments

Noteworthy developments in the Mineral Supplement market highlight the strides made in addressing specific health concerns and pushing the boundaries of traditional supplement offerings. Innovations in mineral delivery methods, such as nano-formulations or time-release capsules, showcase a commitment to improving absorption and bioavailability. The introduction of mineral supplements tailored to specific demographic groups, such as seniors or athletes, demonstrates a nuanced approach to addressing diverse health needs. Additionally, advancements in sustainable packaging and eco-friendly practices contribute to a positive industry image. These notable developments underscore the industry's dedication to providing effective, tailored, and environmentally conscious mineral supplements in a market that places a premium on health and wellness.

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Competitive Landscape

In the mineral supplement market, key players like Amway, Bayer AG, and Herbalife vie for dominance in a dynamic environment. Established companies compete, startups disrupt with niche offerings, and evolving consumer preferences continually shape strategies. Amway India's Nutrilite brand introduced gummy and jelly strip-shaped vitamins and minerals in February 2022, promoting overall well-being. NOW Foods entered the market in May 2022 with Magnesium Bisglycinate Powder, an easily absorbable form supporting muscle and nerve function. This competitive arena reflects ongoing innovation and adaptation to meet diverse consumer needs.

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This release was published on openPR.