The mineral supplements market is bifurcated into application (food and beverages, pharmaceutical, and others) and end user (adult women, adult men, senior citizen, and others). The global market for mineral supplements in value term grew from USD 7.3 million in 2010 to USD 8.9 million in 2013. Usage of mineral supplements in the pharmaceutical sector (largest application segment in 2013) is projected to increase to USD 6.9 million in 2020, at a CAGR of 7.1%. Also, Usage of mineral supplements by adult women (largest end user in 2013) is projected to increase from USD 3.4 million in 2014 at a CAGR of 7.5% during 2014-2020.
Albany, NY -- (SBWIRE) -- 09/29/2015 -- The global supplements market is growing at a steady rate, majorly due to increasing consumer awareness about preventive healthcare. Mineral supplements are consumed in different forms, such as capsules, pills, powder, gel caps, granules, tablets, and liquid. Mineral supplements such as calcium, phosphorus, chromium, magnesium, sulfur, iron, zinc, folic acid, silicon, copper, and cobalt help consumers of different age groups to stay healthy and free from nutrition deficiency diseases. Due to busy lifestyle, many working individuals are unable to follow a regular diet, leading to deficiency of nutrients, including minerals in the body. In order to address the need for nutrients and prevent mineral-deficiency diseases, individuals consume additional food supplements, including mineral supplements. With increasing awareness about daily nutritional requirements, more consumers are expected to start consuming mineral supplements in the coming years thus driving the mineral supplements market. Increasing age has adverse effects on the digestive organs, thus making it difficult in absorbing all the required nutrients from food. With growing age, people also tend to eat less due to loss of appetite. As a result, aging individuals do not get optimal amounts of minerals and other nutrients. Hence, they resort to additional supplements for proper nourishment. Among old age people, weakening of bones, poor eyesight, and poor digestive system are some of the common conditions. In order to remain fit and desired to live long, their dependency towards mineral supplements is growing.
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With developments in the field of e-commerce, mineral supplements are sold directly to end customers. Additionally, with the increasing number of direct sales outlets, manufacturing firms are able to sell mineral supplements products directly to their customers. Mineral supplements products are considered different from drugs and are regulated differently. Supplements are free from any legal procedures required for drug registration. The responsibility for ensuring the validity of mineral supplement products' claims remains solely with manufacturers and no regulatory body intervenes for quality control of any sort. Improper labeling of mineral ingredients in supplement products may affect the consumer's health adversely. Certain side effects of incorrect proportion of mineral ingredient in supplement products may even lead to death, resulting in negative publicity for the product and the mineral supplements market.
During pregnancy, women are recommended to consume 27 milligrams of iron per day compared to 18 milligrams by non-pregnant women. Undernourished women may be at a high risk of giving birth to low-weight infants. Additionally, increasing occurrences of various lifestyle diseases, such as chronic diseases, along with hectic lifestyle and the growing aging population are expected to boost the demand for mineral supplements in the global market.
North America is the largest mineral supplements market, followed by Asia Pacific and Europe. During forecasted period (2014-2020), Asia Pacific is expected to emerge the fastest growing mineral supplements market, owing to its increasing aging population and sustainable increase in disposable income.
Some of the major companies operating in mineral supplements market are Glanbia Plc., Nu Skin Enterprises, Inc., E. I. du Pont de Nemours and Company, NBTY, Inc., Koninklijke DSM N.V., BASF SE, Bayer AG, Atrium Innovations Inc., Amway and Herbalife, Ltd.
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