Global Mineral Supplements Market size is projected to be valued $22 Billion by 2024; with a CAGR of 8.8% from 2017 to 2025. Mineral supplements especially help people of all ages to lead a healthy life, preventing nutritional deficiency disorders. The demand for mineral supplements or multivitamin is increasing, as individuals are taking these supplements to maintain good health. Moreover, manufacturers are also including certain herbal ingredients along with multivitamins for special purposes to enhance performance, energy and promote immunity.
Growing geriatric population, rise in consumer awareness, increasing self-directed consumers, growing number of maternal mortality rate in underdeveloped economies, and advancements in dietary supplement products are the major factors driving the growth of the global mineral supplements market. However, lack of dosage awareness, and proper regulatory bodies would hamper the market growth. Furthermore, untapped markets, growth in e-commerce, and entry for private labels would create growth opportunities in coming years.
The global mineral supplements market is segmented on the basis of application, end user, and geography. Application is bifurcated as food & beverages, pharmaceuticals, and other applications. While end-user segment includes adult women, adult men, senior citizen, and other end-users.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers China, India, Japan, and Rest of Asia-Pacific. Rest of the world (RoW) covers South America, Middle East and Africa.
The major players operating in this market include Pharmavite LLC, Koninklijke DSM N.V., Nu Skin Enterprises, Herbalife, Ltd., Glanbia Plc., Atrium Innovations Inc., Omega Protein Corporation, Bio-Botanica Inc., BioPharma, Inc., and BASF SE, among others.
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Scope of the Global Mineral Supplements Market