Global Mineral Supplements Market: Demand for Mineral Supplements from Geriatric Population to Push Market at 7.3% CAGR during 2014-2020

New York City, New York, August 28, 2015: According to a recent market research report published by Persistence Market Research, the global mineral supplements market is expected to grow healthily at a CAGR of 7.3% during the period between 2014 and 2020. The report, titled “Global Market Study on Mineral Supplements: Pharmaceutical to be the largest segment by 2020”, projects the global mineral supplements market to reach a valuation of US$14.5 million in 2020. The overall market was worth US$7.3 million in 2013.

Around 4% of the human body mass consists of minerals, which are classified into major minerals (sodium, potassium, calcium, phosphorus, sulphur, magnesium, manganese, chlorine, and cobalt) and trace minerals (iodine, fluorine, copper, zinc, selenium, and chromium). As these minerals are not produced in the body, they have to be obtained through a balanced diet or administered separately. Hectic life schedules, leading to a lack of a proper diet, are expected to drive the global mineral supplements market. Mineral requirements increase with age due to weakening of bones, eyesight, and the digestive system. The growing aging population worldwide will increase the demand for mineral supplements.

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Mineral supplements are consumed in different forms such as pills, powder, capsules, granules, gel caps, tablets, and liquid. The global mineral supplements market is expected to benefit from the increased awareness about daily nutritional requirements. The requirement for minerals such as iron is higher in females. 14.8 mg of iron is recommended daily in females, compared to an 8.7 mg of daily iron intake in males. During pregnancy, rapid red blood cell production demands increased amount of iron in the female body. Deficiency of iron during pregnancy increases the risk of infant mortality and premature birth. With governments across various nations stressing on increased iron intake, the demand for iron supplements in the market will increase.

However, mineral supplements are considered different from drugs and are regulated separately. Supplement products are free from any legal procedures that are required for registration of drugs. No regulatory body intervenes for quality control of supplements and the responsibility for ensuring the validity of mineral supplement products’ claims remains solely with manufacturers.

Improper labelling of mineral ingredients in supplement products can lead to adverse effects on consumer’s health. Intake of incorrect proportions of mineral supplements may result in fatal side effects. Lack of proper regulatory bodies will thus negatively affect the overall mineral supplements market.

The global mineral supplements market has a huge opportunity to grow with the growing urban population in Asia Pacific. With a rise in disposable incomes and increased awareness about the requirement of mineral supplements, consumers in the region are contributing to the increased demand from the global market. Rapid growth of e-commerce portals in the region has led to a shift in consumer behavior, with an increasing number of people buying mineral supplements from online stores.

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