The global mineral supplements market size is projected to reach USD 14.53 billion by 2025 expanding at a CAGR 5.1% from 2019 to 2025, according to a new report by Grand View Research, Inc. Rising cases of mineral deficiencies, particularly calcium and iron, and consumer willingness to spend more on mineral supplements are the key factors augmenting the market growth. In addition, increasing disposable income and rapidly growing e-commerce sector are anticipated to propel the market over the forecast period.
Increasing prevalence of diseases, such as cancer and diabetes, further boost the demand for mineral supplements as these products are used for the management of associated conditions. Growing consumer interest towards preventive healthcare and increasing ageing population are also significantly contributing toward the industry growth. For instance, a nationwide study published in Cambridge Core journal in 2017 reported that prevention of nutrient deficiencies is the motive for supplement use for around 62.4% of the Germans.
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Emerging local companies, rise in mergers & acquisition and partnerships & collaborations activities, and new product launches are further anticipated to boost the demand for mineral supplements in the market. For instance, in April 2019, Unilever announced the acquisition of OLLY Nutrition, which is a provider of vitamin, mineral, and supplements category. However, recent amendments in the regulatory scenario governing the overall nutrition & dietary supplements in many countries, including U.S., Australia, China, and Brazil, is a key challenge impeding market growth.
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Grand View Research has segmented the global mineral supplements market on the basis of product and region:
Mineral Supplements Product Outlook (Revenue, USD Million, 2014 – 2025)
Mineral Supplements Regional Outlook (Revenue, USD Million, 2014 – 2025)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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