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The global market for mineral supplements in value term grew from $ 7.3 million in 2010 to $ 8.9 million in 2013. Usage of mineral supplements in the pharmaceutical sector (largest application segment in 2013) is projected to increase to $ 6.9 million in 2020, at a compound annual growth rate (CAGR) of 7.1%. Also, Usage of mineral supplements by adult women (largest end user in 2013) is projected to increase from $ 3.4 million in 2014 at a CAGR of 7.5% during 2014-2020, according to Research and Markets report titled “Global Mineral Supplements Market Study 2015 – Pharmaceutical to be the largest segment by 2020”.
Some of the leading names in this space include Amway, Atrium Innovations, BASF SE (Badische Anilin- und Soda-Fabrik), Bayer AG, E. I. du Pont de Nemours and Company, Glanbia Plc, Herbalife, Ltd., Koninklijke DSM N.V., NBTY, Inc., Nu Skin Enterprises, Inc.
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 be 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.
North America holds majority of the market for mineral supplements, followed by Asia Pacific and Europe. During forecasted period (2014-2020), mineral supplements market in Asia Pacific is expected to witness fastest growth rates owing to its increasing aging population and sustainable increase in disposable income.