Table of Contents
Introduction
The Global Mineral Supplements Market, valued at USD 13.3 billion in 2022, is poised for substantial growth, with projections indicating a rise to USD 19.9 billion by 2032. This sector is anticipated to grow at a steady compound annual growth rate (CAGR) of 4.2% from 2023 to 2032.
The market’s expansion is fueled by increasing consumer awareness of health and wellness, particularly post-pandemic, as individuals continue to recognize the importance of dietary supplements in maintaining overall health and filling nutritional gaps. For instance, a large segment of the U.S. population integrates supplements into their daily regimen to compensate for dietary deficiencies and to support a healthy lifestyle.
However, the market faces challenges such as regulatory scrutiny and consumer skepticism regarding the efficacy and safety of these products. Recent surveys indicate that while a majority of Americans trust the dietary supplement industry, there remains a significant portion of the population wary of the claims made by some supplement manufacturers. This trust is critical as it influences consumer confidence and, consequently, market growth.
Recent developments in the industry highlight an increasing focus on tailored supplements that address specific health concerns, such as immune support, which saw a slight decline in interest post-pandemic but remains a significant factor in supplement usage.
In 2024, Nestlé reported an organic sales growth of 1.4%, influenced by its efforts to increase marketing and innovation, particularly in the vitamins, minerals, and supplements sector. However, they faced challenges in North America due to supply constraints, which affected their vitamins, minerals, and supplements business negatively in early 2024.
Despite these hurdles, Nestlé’s Health Science division, which includes their vitamins, minerals, and supplements, is actively progressing with integration plans and expected to recover and grow in the latter half of the year
Key Takeaways
- The global Mineral Supplements Market was valued at USD 13.3 billion in 2022 and is projected to reach USD 19.9 billion by 2032, with a compound annual growth rate (CAGR) of 4.2% during this period.
- In 2022, the calcium segment generated the highest revenue, holding a 32.6% market share for mineral supplements.
- In the market for mineral supplements, the capsules account for a substantial 39% of the formulation segment.
- The General Health Segment Accounted for the Largest Revenue 29.6% Share in the Mineral Supplements Market in 2022.
- The market for mineral supplements’ end-user segment is significantly dominated by adults, with a 34.6% share.
- In 2022, the Mineral Supplements Market’s largest revenue share 52.3% was accounted for by the Pharmacies and Drug Stores segment.
Mineral Supplements Statistics
Global Nutrient Deficiency Trends
- While there’s a wealth of evidence to show the many benefits of getting your daily dose of vitamin D, a shocking 57% of Brits aren’t getting enough of it – despite everyone in the UK being advised to supplement 10mg daily in the colder months.
- Over 30 percent of the world’s population are anaemic, many due to iron deficiency, according to The World Health Organisation – who describe it as “the most common and widespread nutritional disorder in the world”.
- New Roy Morgan data shows 8.24 million Australians aged 14+ (39%) buy vitamins, minerals or supplements in an average six months, up from 7.95 million four years ago.
- In 2020, U.S. sales of dietary supplements reached approximately $55.7 billion, with $21.2 billion specifically for supplements containing vitamins and minerals.
- An estimated one-third (about 33%) of adults in the United States take multivitamin/mineral (MVM) supplements, while about 25% of children and adolescents also consume them.
Supplement Use and Overconsumption Concerns
- The National Institutes of Health (NIH) reports that 24% of men and women aged 20-39 years took MVMs in the past 30 days, which increases to 39.4% for those aged 60 and over.
- The prevalence of adequate nutrient intake from food alone is around 74%-76% for men and 72%-75% for women, but this increases to 84% for men and 83% for women when including MVM use.
- A significant portion of MVM users, approximately 10%-15%, may exceed the tolerable upper intake levels (ULs) for nutrients such as vitamin A, iron, and zinc.
- The District Mineral Foundation (DMF) funds are allocated with at least 60% directed towards high-priority areas such as healthcare improvements in mining-affected regions in India.
- The initiative allocates up to $50 million to provide funding for research institutes that will offer technical assistance to miners, aimed at enhancing extraction technologies and beneficiation methods.
Emerging Trends
- Personalized Nutrition: There’s a growing shift towards creating supplements that are tailored to individual health needs, dietary preferences, and lifestyles. This trend is driven by consumer demand for more targeted health benefits and customized supplement solutions.
- Eco-Friendly Practices: Sustainability is becoming crucial in supplement manufacturing. Companies are increasingly adopting eco-friendly practices such as using renewable energy sources, reducing carbon emissions, and opting for water-saving technologies. This reflects a broader consumer interest in environmental responsibility.
- Rise of Vegan Supplements: As plant-based diets gain popularity, there’s a surge in demand for vegan supplements. These products cater not only to dietary preferences but also to consumers interested in ethical and environmental considerations of their supplement choices.
- Innovative Delivery Methods: The market is seeing novel ways to consume supplements, such as gummies, liquids, and powders. These new forms are not only more enjoyable but can also enhance the absorption and effectiveness of the supplements.
- Focus on Mental Well-being and Energy: There is an increasing emphasis on supplements that support mental well-being and energy. This trend reflects a broader consumer interest in managing stress and enhancing mental focus through dietary supplements
Use Cases
- Preventing Nutrient Deficiencies: Mineral supplements are beneficial for individuals who may not get enough nutrients from their diet alone, such as those with restricted diets, certain health conditions, or increased nutritional needs due to stages of life like pregnancy or aging.
- Supporting Eye Health: Certain combinations of vitamins and minerals have been shown to slow down vision loss from age-related macular degeneration (AMD).
- Pregnancy and Birth Outcomes: Prenatal mineral supplements, particularly those containing folic acid and iron, are crucial for preventing birth defects and supporting overall health during pregnancy.
- Cardiovascular Health and Cancer Prevention: While some studies have explored the role of multivitamins and minerals in preventing cardiovascular disease and cancer, the evidence remains inconclusive, with some studies suggesting little to no effect.
- Mental and Cognitive Health: There is growing interest in minerals like magnesium for their potential to support mental health and cognitive function, although more research is needed to fully understand these benefits.
Major Challenges
- Regulatory Challenges: The mineral supplements industry faces significant regulatory challenges, particularly concerning the safety and efficacy of products. These challenges stem from varying international regulations and the need for consistent safety standards.
- Consumer Trust and Transparency: There is a growing demand from consumers for transparency in the sourcing and production of mineral supplements. This includes clear labeling and traceability of ingredients, which poses a challenge for companies to maintain openness while protecting proprietary formulations.
- Market Saturation and Differentiation: The market is becoming increasingly saturated, making it difficult for brands to differentiate their products. Companies need to innovate continuously, not just in product development but also in marketing strategies to stand out in a crowded market.
- Supply Chain Issues: Supply chain disruptions, particularly those caused by global events like the COVID-19 pandemic, have posed significant challenges. These include delays in raw material supplies, increased costs, and logistical challenges in distributing products globally.
- Health Claims and Scientific Validation: The industry often faces scrutiny over the health claims made by supplement companies. There is a continuous need for scientific research and evidence to support the claims made about the benefits of mineral supplements, which can be a costly and time-intensive process.
Market Growth Opportunities
- Increased Focus on Health and Wellness: There’s a rising consumer interest in maintaining general health and preventing future health issues, which drives the demand for mineral supplements. As people become more proactive about their health, mineral supplements are seen as a valuable tool for enhancing overall well-being.
- Aging Populations: With the global population aging, there is an increased need for products that support bone health, joint health, and general vitality. Older adults are particularly interested in supplements that can alleviate age-related conditions such as arthritis and osteoporosis.
- Innovative Product Formats: The market is experiencing a shift towards innovative delivery methods like gummies and dissolvable tablets, which appeal to a broader range of consumers, including children and those who have difficulty swallowing pills.
- Personalized Nutrition: There is a growing trend towards personalized mineral supplements that cater to individual health needs based on personal health data. This customization is becoming possible due to advancements in technology and increased consumer interest in tailored health solutions.
- Expansion in Developing Markets: Emerging markets present significant opportunities due to rising disposable incomes, increased health awareness, and underpenetration of dietary supplements. Countries like China and India are rapidly becoming large consumers of health-related products, including mineral supplements.
Key Players Analysis
- Nestlé S.A. has made significant strides in the mineral supplements sector through its subsidiary, Nestlé Health Science, which focuses on developing nutrition-based health solutions, including mineral supplements. They provide a range of products designed to address specific health needs such as bone health, immune support, and overall wellness, catering to different life stages from infants to the elderly.
- Bio Botanica Inc. is a key player in the mineral supplements sector, specializing in the production of high-quality botanical extracts used in various health and wellness products. With a focus on natural and holistic health solutions, the company employs advanced extraction techniques to ensure the potency and purity of its ingredients, catering to the needs of the dietary supplements market.
- Amway makes a strong impact in the mineral supplements sector with its Nutrilite brand, which focuses on combining the best of nature with scientific research to create high-quality supplements. Their products are designed to support various health needs, including heart, brain, eye, and immune health, using plant-based ingredients and adhering to high standards of purity and sustainability.
- Bayer AG is deeply involved in the mineral supplements sector through its Nutrient Gap Initiative, which aims to improve access to essential vitamins and minerals for 50 million people by 2030. This initiative focuses on providing nutritional support to underserved communities worldwide, demonstrating Bayer’s commitment to enhancing global health through improved nutrition and food security.
- Glanbia plc plays a significant role in the mineral supplements sector by focusing on bone health through products like TruCal®. This balanced milk mineral complex supports optimal bone health by providing essential minerals in proportions that reflect the natural composition of human bone, thereby promoting better bone density and strength.
- Abbott Laboratories plays a significant role in the mineral supplements sector, primarily through its range of nutritional products like Ensure, which are designed to provide essential minerals and vitamins for various health needs. These products are tailored to support overall health, including bone strength, immune system support, and muscle health, making them especially beneficial for people recovering from illness, surgery, or those who have specific nutritional gaps due to dietary restrictions.
- Herbalife International of America Inc. is deeply engaged in the mineral supplements sector through its extensive range of nutritional products. They focus on providing essential minerals like calcium, iron, and magnesium which are vital for strong bones, teeth, and overall metabolic processes.
- Sanofi is actively involved in the mineral supplements sector through its Pharmaton® Vitality Capsules. These capsules are designed to enhance energy and overall well-being by providing essential nutrients like biotin, vitamins, and minerals. Sanofi’s approach combines these supplements with a focus on promoting balanced health and addressing nutritional gaps, particularly in the context of comprehensive healthcare.
Conclusion
The overall benefit of mineral supplements appears to be more psychological than clinical, as there is no substantial evidence showing significant health improvements from daily use among healthy adults without known deficiencies. The perception of better health among users might stem more from positive expectations than any measurable clinical benefits.
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