What is the global market size of Minerals in Human Nutrition Market?

Global Minerals in Human Nutrition Market size was valued at USD 13.1 billion in 2021 and is poised to grow from USD 13.96 billion in 2022 to USD 23.29 billion by 2030, growing at a CAGR of 6.6% in the forecast period (2023-2030).

Minerals in Human Nutrition Market Size, Share, Growth Analysis, By Type(Major Minerals (Calcium, Phosphorus, Magnesium, Sodium), By Application(Dietary Supplements, Functional Nutrition, Sports Nutrition, Infant Nutrition), By Region - Industry Forecast 2024-2031

Q: Which region accounted for the largest share in Global Minerals in Human Nutrition Market?

North America dominated the global market in 2021 and is projected to maintain its dominance over the forecast period owing to the presence of developed economies such as US and Canada. The Asia Pacific emerged as the fastest growing market owing to the developing nations with a huge population base such as China, India, and Japan. Europe is the second largest region for the human nutrition market owing to the consumer-conscious countries such as Germany, the UK, Spain, Italy, and France.

Report ID: SQMIG30I2187 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 77 | Figures: 77

Minerals in Human Nutrition Market Insights

Minerals in Human Nutrition Market size was valued at USD 13.1 billion in 2019 and is poised to grow from USD 13.96 billion in 2023 to USD 23.29 billion by 2031, growing at a CAGR of 6.6% in the forecast period (2024-2031).

Growing usage of mineral supplements to manage chronic ailments is expected to drive the market, owing to the significant percentage of the population suffering from chronic diseases such as osteoporosis, cancer, anemia, and osteoporosis. Furthermore, the growing trend of adopting preventive health management techniques because of the rising prevalence of lifestyle disorders drives market growth. Diabetes, for example, caused 1.5 million deaths in 2019, according to WHO figures, with 48% of fatalities occurring before the age of 70. The expanding number of fitness clubs, together with increased awareness about healthy lifestyles, drives market development.

US Minerals in Human Nutrition Market is poised to grow at a sustainable CAGR for the next forecast year.

Minerals in Human Nutrition Market Report Snapshots

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One of the primary techniques used by the market's key players is acquisition. The purchase provides lower entry barriers, market power, access to expertise, a client base, and so on. Some of the companies employing this technique to grow their business network and product portfolio are BASF, DSM, Cargill, Glanbia PLC, and Kerry Group PLC. 'BASF SE', 'DuPont de Nemours, Inc.', 'Lonza Group Ltd.', 'ADM', 'Cargill, Incorporated', 'W.R. Grace & Co.', 'Corbion NV', 'Balchem Corporation', 'Akzo Nobel N.V.', 'Evonik Industries AG', 'Royal DSM N.V.', 'Ajinomoto Co., Inc.', 'Kerry Group plc', 'FMC Corporation', 'Innophos Holdings, Inc.', 'Albion Laboratories, Inc.', 'Minerals Technologies Inc.', 'Ferro Corporation', 'Jost Chemical Co.', 'Novotech Nutraceuticals, Inc.', 'In 2021, In 2021, BASF spent 2.2 billion euros on research and development, a small increase compared to the previous year.', 'In 2021, BASF announced to commit the launch of at least 30 R&D projects by 2030, which will focus on sustainable agriculture innovations'

Poor diet-related deaths have increased by 15% since 2010, outpacing population growth, and are now responsible for more than 12 million deaths in adults. This accounts for one-quarter (26%) of all adult deaths each year. The proportion of premature deaths caused by dietary risks is highest in North America and Europe (31% each), and lowest but still significant in Africa (17%). Hence, demand for human nutritional products is further expected to propel over the foreseeable future.

Minerals are inorganic nutrients that cannot be generated biologically yet are required for overall growth. Most of the mineral elements that humans consume are Phosphorus, calcium, zinc, iron, magnesium, and potassium. These elements serve to strengthen the immune system and protect the body from various illnesses. Minerals are used by the body for a variety of purposes, including bone formation and nerve impulse transmission. The need for these minerals grows due to a lack of nutrient-rich meals.

North America dominated the market in 2021 and is projected to maintain its dominance over the forecast period owing to the presence of developed economies such as US and Canada. The Asia Pacific emerged as the fastest growing market owing to the developing nations with a huge population base such as China, India, and Japan. Europe is the second largest region for the human nutrition market owing to the consumer-conscious countries such as Germany, the UK, Spain, Italy, and France.

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Minerals in Human Nutrition Market Size, Share, Growth Analysis, By Type(Major Minerals (Calcium, Phosphorus, Magnesium, Sodium), By Application(Dietary Supplements, Functional Nutrition, Sports Nutrition, Infant Nutrition), By Region - Industry Forecast 2024-2031

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