The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Therapeutic Nutrients And Minerals Global Market Report 2024, the therapeutic nutrients and minerals market is expected to show promising growth in the forecast period.

Understanding the Market Dynamics

• Strong growth: Increased from $67.64 billion in 2023 to $73.08 billion in 2024 (CAGR of 8.0%).
• Factors driving growth: Health awareness, aging population, lifestyle diseases, nutritional deficiencies, and professional recommendations.
• Future projections: Estimated to reach $99.22 billion in 2028 (CAGR of 7.9%).

Rising Demand For Functional Foods To Drive Market Growth

• Definition of functional foods: Beyond basic nutrition, offering additional health benefits.
• Popularity: Health-conscious individuals seek functional foods enriched with therapeutic nutrients.
• Market insights: Sales of functional foods and beverages in the US reached $83 billion in 2021.
• Key players: Glanbia PLC, Herbalife Nutrition Ltd., Abbott Laboratories, among others.

Product Innovations Transforming The Therapeutic Nutrients And Minerals Market

• Emphasis on catch-up growth products: Targeted at individuals, especially children, with growth delays or undernourishment.
• Example: Abbott Laboratories’ PediaSure in India, fortified with essential nutrients for catch-up growth.
• Competitive edge: Major companies focus on developing new formulations to meet evolving consumer needs.

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Balchem Corporation Expands Market Presence With Strategic Acquisition Of Bergstrom Nutrition

• Acquisition details: Balchem Corporation acquires Bergstrom Nutrition, specializing in MSM supplements.
• Strategic advantage: Addition of OptiMSM to Balchem’s portfolio for performance and longevity.
• Bergstrom Nutrition’s specialization: Dietary nutrient and mineral supplements, especially MSM.
• Significance: Expansion of marketplace opportunities for Balchem in therapy-focused areas.

Market Segmentation and Regional Insights

• Types of therapeutic nutrients & minerals: Multivitamins, Calcium, Supplements, among others.
• Formulations: Capsule, Tablet, Powder, Liquid Or Gel, etc.
• Sales channels: Pharmacies, Supermarkets, Online channels.
• End users: Adults, Geriatric, Pregnant Women, Children, Infants.
• Regional dominance: Asia-Pacific led the market in 2023, with North America expected to witness the fastest growth.

Future Trends and Opportunities

• Personalized nutrition and customized supplements: Catering to individual health needs.
• Demand for trace minerals and micronutrients: Addressing specific health concerns.
• Focus on mental health and cognitive function: Increasing awareness drives product innovations.
• Integration of technology in nutrient delivery: Enhancing efficacy and consumer experience.
• Sustainable and ethical sourcing: Growing consumer preference for environmentally responsible products.

In conclusion, the therapeutic nutrients and minerals market’s robust growth reflects the increasing focus on preventive healthcare and wellness. With rising demand for functional foods, personalized nutrition, and innovative supplements, major companies are poised to capitalize on emerging trends and consumer preferences. Strategic acquisitions, product innovations, and expanding market presence signify a dynamic landscape with abundant opportunities for stakeholders. As the market evolves, collaboration, sustainability, and technological integration will continue to shape its trajectory, offering promising avenues for growth and innovation in the years to come.

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