Mineral Supplements Market Analysis

Mineral Supplements Market Analysis

To get key market trends

  Download Free Sample

Based on product type, the market is classified into calcium supplements, magnesium supplements, iron supplements, potassium supplements, zinc supplements, chromium supplements, selenium supplements, and other supplements. The calcium supplements segment is anticipated to acquire the largest market share and sustain its dominance to reach USD 9.1 billion by 2032
 

• Calcium supplements dominance was asserted due to the increasing prevalence of osteoporosis and bone-related disorders, coupled with growing awareness of the importance of calcium intake for overall health, these supplements have garnered significant demand.
   
• Additionally, regulatory authorities in several countries have ensured the safety and efficacy of calcium supplements, along with the growing awareness of supplement consumption. For instance, in February 2023, Torrent Pharmaceuticals Ltd. launched the televised campaign as ‘BeShelcalStrong’, aiming to enhance public understanding of calcium deficiencies and their impact on daily routine. Thus, the growing awareness instills belief in consumers, leading to a rise in demand for calcium products, thereby spurring the market growth.
  
   

Based on formulation, the mineral supplements market is categorized into capsules & tablets, liquid, powder, gummies, and other formulations. The capsules & tablets segment hold the largest market share of 36.4% in 2023 and is expected to maintain dominance throughout the analysis period.
 

• Tablets and capsules have established dominance in the market owing to their convenience, ease of consumption, and widespread acceptance among consumers. These dosage forms offer precise dosing, portability, and longer shelf life compared to other forms.
   
• Additionally, tablets and capsules can accommodate a wide range of formulations, including single and combination supplements, catering to diverse consumer needs.
   
• Their popularity is further bolstered by efficient manufacturing processes and familiarity among healthcare professionals and consumers. Thus, aforementioned factors will solidify their market position.
   

Based on application, the mineral supplements market is divided into general health, bone & joint health, gastrointestinal health, immune support, and other applications. The general health segment accounted for the highest share in 2023 and is expected to exhibit 4.5% CAGR during the analysis period.
 

• The general health segment leads the market due to increasing consumer awareness and emphasis on maintaining health. Mineral supplements play a vital role in supporting various body functions, including bone health, immune system function, and energy production, making them essential for overall health.
   
• Thus, with the growing concerns about nutrient deficiencies arising from modern lifestyles and dietary habits, the demand for mineral supplements in the general health segment continues to rise steadily.
   

Based on consumer group, the mineral supplements market is classified into adults, pregnant women, and children. The adults segment contributed the largest revenue of USD 7.2 billion in 2023 and is projected to maintain dominance throughout the forecast period.
 

• The adults segment growth is primarily driven by an escalation in mineral deficiencies, particularly prevalent among working women, especially in terms of calcium deficiency. Also, adults often adhere to specific dietary patterns such as veganism, vegetarianism, or gluten-free diets, which may pose challenges in meeting their mineral requirements. Therefore, mineral supplements become essential in such scenarios to ensure adequate intake.
   
• Additionally, aging reduces the body's capacity to absorb and utilize minerals, necessitating bone & joint health supplements. Further, chronic stress, environmental pollutants, and busy lifestyles exacerbate nutrient depletion, prompting adults to turn to supplements for immune support and energy.
   

Based on distribution channel, the mineral supplements market is categorized into pharmacies & retail stores, supermarkets & hypermarkets, online sales, and other distribution channels. The pharmacies & retail stores segment dominated the market, securing the highest revenue share and is projected to reach USD 11.5 billion by 2032.
 

• The dominance of pharmacies and retail stores can be attributed to their accessibility, reliability, and integration with healthcare services. These channels offer a wide range of products catering to diverse health needs and preferences, including customized formulations tailored to individual requirements.
   
• Moreover, as preventive healthcare gains popularity, consumers increasingly turn to supplements to support their well-being, thereby relying on these stores as reliable sources for their nutritional needs.
   
• Further, through effective marketing strategies and loyalty programs, pharmacies and retail stores attract and retain consumers, driving the growing sales of mineral supplements through this channel.