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The mineral supplements market is on a significant growth trajectory, driven by rising health awareness and lifestyle changes. Here’s a closer look at the market’s growth, trends, and the factors shaping its future.

Rapid Market Growth in Recent Years

• Market Size: The mineral supplements market grew robustly from $15.39 billion in 2023 to $16.58 billion in 2024, with a CAGR of 7.8%.
• Drivers:
  • Increasing awareness of health and wellness.
  • Rising prevalence of mineral deficiencies.
  • Aging population and interest in preventive healthcare.
  • Changing dietary patterns and lifestyles.

Strong Growth Predicted for the Future

• Forecast Growth: The market is expected to expand to $22.44 billion by 2028, with a CAGR of 7.9%.
• Future Growth Drivers:
  • Personalized nutrition trends.
  • Rising consumer demand for natural and organic products.
  • Increasing disposable incomes in emerging markets.
  • Emphasis on transparent labeling and product traceability.
  • Growing consumer interest in sustainability and ethical sourcing.

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Emerging Trends in Mineral Supplements

• Plant-Based Supplements: Increased demand for plant-based mineral supplements.
• Targeted Formulations: Development of targeted mineral formulations for specific demographics.
• Novel Delivery Formats: Adoption of innovative delivery formats like gummies and dissolvable tablets.
• Personalized Solutions: Growth in personalized mineral supplement solutions tailored to individual needs.
• Evidence-Based Ingredients: Focus on scientifically researched ingredients to meet consumer demands for efficacy.

Sports and Fitness Activities Fuel Market Expansion

• Impact of Fitness Trends: The surge in sports and fitness activities is a significant driver of the mineral supplements market.
  • For example, in 2022, 236.9 million Americans participated in sports activities, a 1.9% increase from 2021.
• Growing Sports Popularity: Sports like pickleball have seen exponential growth, with participation nearly doubling in 2022.
• Demand for Supplements: Athletes and fitness enthusiasts increasingly rely on mineral supplements to support their enhanced mineral needs due to intense physical activity.

Innovation in Oral Nutrition Supplements (ONS)

• Focus on Innovation: Companies are introducing new oral nutrition supplements to cater to evolving consumer needs.
  • Example: In May 2023, Arla Foods Ingredients launched a juice-style ONS with a high protein content and improved taste, targeting the medical nutrition market.
• Product Benefits: The new ONS solution by Arla Foods Ingredients is fat-free, low viscosity, and stable, making it more palatable and likely to increase consumer compliance.

Strategic Acquisitions Boost Market Presence

• Notable Acquisition: In September 2023, Sanofi S.A. acquired Qunol, a US-based health and wellness company specializing in mineral supplements.
• Impact: This acquisition enhances Sanofi’s consumer healthcare portfolio and strengthens its position in the expanding mineral supplements market.

Market Segmentation Overview

• By Product: Calcium, Magnesium, Iron, Potassium, Zinc, Chromium, Selenium, and others.
• By Formulation: Capsules, tablets, powders, liquids or gels, and other forms.
• By Sales Channel: Pharmacies and drug stores, supermarkets and hypermarkets, online channels.
• By Application: General health, bone and joint health, gastrointestinal health, immunity, and more.
• By End Use: Adults, geriatrics, pregnant women, children, and infants.

North America Leads the Market

• Regional Insights: North America was the largest region in the mineral supplements market in 2023, reflecting strong consumer demand and market maturity.

Conclusion

The mineral supplements market is poised for substantial growth, fueled by increasing health consciousness, innovative products, and strategic acquisitions. With emerging trends such as personalized nutrition and plant-based supplements, the market is set to evolve, catering to diverse consumer needs across the globe.

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