Global Vitamin & Mineral Supplements Market: Overview
Due to consumers’ higher spending capacity, the United States has emerged as the leading market for dietary supplements in the North American region. Increasing healthcare product spending, an ageing population, a growing interest in preventive healthcare, and a growing interest in achieving wellness through diet are all expected to boost market growth over the forecast period. A growing number of fitness centres, health clubs, and gymnasiums, combined with increased fitness awareness among young people, is expected to increase demand for energy and weight management. The growing acceptance of sports as a career path is expected to boost demand for sports nutrition, which will benefit the market for dietary supplements.
Nutritional imbalance is becoming a major issue as people eat more and more junk food, combined with sedentary lifestyles, and this is leading to the early onset of many diseases and disorders, as well as premature death. Various mineral and vitamin supplements address deficiency, and their popularity appears to be growing as the healthy lifestyle trend accelerates.
Nestlé Health Science completed its acquisition of the Bountiful Co.’s core brands, including Nature’s Bounty, in August 2021. This acquisition will assist Nestlé in strengthening its position in the nutritional supplement market. Nestlé intends to expand its mineral, vitamin, and herbal product portfolio through various acquisitions. Vitamin Shoppe, a wellness lifestyle company, recently announced the launch of its direct e-commerce business in South Korea. Customers in South Korea can now easily access the company’s wide range of wellness products. This is the company’s second foray into the Asian market, following the opening of two stores in Vietnam. Such brand expansion and mergers indicate an increase in demand for wellness products such as mineral and vitamin supplements.
Global Vitamin & Mineral Supplements Market: Major Players
Nature’s Best Health Products
Approved Vitamins Ltd
Global Vitamin & Mineral Supplements Market: Types
Global Vitamin & Mineral Supplements Market: Applications
Supermarkets & Hypermarkets
The global mineral supplements market is growing as a result of rising urbanisation, an ageing population, and growing awareness about preventive healthcare. Mineral supplements are being used in place of allopathic medications by a growing number of consumers seeking a healthier and safer alternative. Mineral supplements contain calcium, phosphorus, chromium, magnesium, sulphur, iron, zinc, folic acid, silicon, copper, and cobalt, which aid in the treatment and prevention of mineral deficiency diseases. Furthermore, these supplements are available in pill, tablet, capsule, granule, gel capsule, powder, and liquid forms.
Because of their hectic lifestyles, many consumers prefer this convenient alternative to other traditional medicine methods. Pregnant women are advised to consume iron and calcium throughout their pregnancy. As a result, demand from pregnant women is constantly increasing. Furthermore, the ageing population frequently suffers from bone problems, weakness, loss of appetite, a weakening digestive system, poor eyesight, and mineral deficiency. Another important factor driving global demand for mineral supplements is the increasing prevalence of lifestyle disorders.
The use of supplements has increased in recent years. However, insufficient regulatory standards preclude any regulatory body from intervening and leave the validity period of mineral supplements to manufacturers. As a result, a lack of quality control may impede market growth during the forecast period. Another factor that will continue to limit market penetration is incorrect labelling.