India Mineral Supplements Market: Industry Analysis and Forecast (2023-2029)

India Mineral Supplements Market size is expected to reach US$ 4.60 Bn. by 2029, at a CAGR of 18% during the forecast period.
India Mineral Supplements Market Overview:
The India mineral supplements market size was valued at USD 1.44 Bn. in 2022 & is expected to expand at a CAGR of 18% during the forecast period. Growing occurrence of mineral insufficiency, mostly calcium, zinc, & iron, & rising awareness regarding health & fitness are the key factors driving the development of the Mineral Supplements market. High occurrence of diseases, like osteoporosis, anemia, cancer, & diabetes, is also powering the market growth as these supplements are normally used in the managing of these conditions.

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According to the MMR study report, more than 200 Mn people were suffering from osteoporosis throughout the globe. The prevalence of diabetes in India has continued at 11.83 percent in the past 4 years, MMR study also presented that the prevalence of recognized diabetes cases was 8.0 percent & new diabetes cases were 3.8 percent. Males indicated a similar prevalence of diabetes (12 percent) as females (11.7 percent). Known diabetics comprised 67.3 percent members, while 32.7 percent were new diabetics.

Maximum prevalence of diabetes was detected in the 70-79 years age group at 13.2 percent. Nearly 40 percent of recognized diabetes were identified 1-4 years back while 5.3 percent of known diabetes cases reported diagnosis within the last 1-year. In the study, the prevalence of diabetes among sixty-three thousand counted population aged up to 50 years in 21 localities, 56,771 or 90.1 percent were assessed for diabetes.

Furthermore, rising consumer inclination to spend more on mineral supplement foodstuffs also donates to market development. According to a customer survey by MMR in 2019, over 30 percent of the Indian populace was willing to pay more for useful foods fortified with calcium.

Also, an increase in the number of distribution channels added boosts market growth. The new trend of veganism also pushes the demand for these nutrients, particularly calcium & iron, as these are evolving as substitutes for vegans to meet their essential intakes of vital minerals. According to MMR report, vegans, & vegetarians are increasing by 10 percent to 15 percent annually. Also, the rising senior population & rise in disposable income are some of the important factors anticipated to boost market development during the forecast period.
India’s move towards Veganism
India has long been pushed as the vegetarian center of the world. And now, like the rest of the world, it is get up to the physical, ethical & economic welfares of plant-based, meat-&-dairy-free food. For numerous decades, India has been the dairy-loving nation. Milk is a significant & exceptional component of nearly all Indian families. But the image is changing now & veganism is gradually being embraced.

Some celebrities self-confessed giving up on dairy products. Vegan influencers began to see the light of the day & garnered enormous engagement on social media stages. Thus, giving increase to an all new campaign & drifting the internet-savvy new generation to this new ethical & sustainable lifestyle. The complete impact of this was a satisfactory increase in figure of Vegans in India.

2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years trends are considered while forecasting the market through 2029. 2020 is a year of exception and analyzed specially with the impact of lockdown by region.
India Mineral Supplements Market Dynamics:
Rising customer preference for protective healthcare is also one of the key influences augmenting the product demand. Also, new product introductions are anticipated to fuel the demand for mineral supplements DURING the forecast period. For example, in year l 2018, Mineral Bioscience (MBS) launched IoniCell for females, which has a fulvic ionic mineral which comprises 65 to 72 vital macro & trace minerals. It defends against cellular damage, improves nutrient absorption, & acts as a great antioxidant.
Products segment Overview:
The calcium segment held the major mineral supplements market share of about 30 percent in the year 2019. The rising occurrence of osteoporosis is one of the major influences that increase the segment development. According to MMR study report, over 15.3 Mn people in India suffered from osteoporosis in the year 2018. Also, the easy accessibility of calcium supplements adds to segment development. Growing cases of cancer, mainly breast cancer, pose a high risk of emerging osteoporosis at an initial stage.

Besides, a growing number of new product presentations & new innovations also contribute to its value-added market share. For example, in the year 2018, Nanova Tech, Inc. introduced next-generation Nano-Cal supplements on its online website. An Mg supplement is anticipated to witness a profitable CAGR of 7.1 percent during the forecast period. This is credited to its application in many health conditions with hypertension, migraine, bone health, & others. Companies are focused on making Mg elements appropriate for a diversity of formulations. AIDP’s Mg ingredient, Magtein, can be articulated for usage in beverages, gummies, & others, which in turn improvement its demand.
Key Companies & Market Share Insights
Key companies in the market include Abbott; Nestle SA; Amway; Herbalife International of America, Inc.; & Glanbia plc. The market is segmented in nature including of a huge number of both small- & large-scale companies. Growing investments in Research & Development, M&A, partnerships with other businesses, fresh product launches, geographical expansions, & product and flavor difference are the key plans adopted by these firms for gaining a good edge. For example, in the year 2019 Unilever stated the acquisition of OLLY Nutrition, a supplier of vitamin, mineral, & supplements category. Lupin, a main drug company in India, introduced a calcium supplement for women in the year 2018 to increase its business in the OTC market.

The objective of the report is to present a comprehensive analysis of the India Mineral Supplements Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the India Mineral Supplements Market dynamics, structure by analyzing the market segments and project the India Mineral Supplements Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the India Mineral Supplements Market make the report investor’s guide.
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India Mineral Supplements Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 1.44 Bn.


Forecast Period 2023 to 2029 CAGR:
18%
Market Size in 2029:
US $ 4.60 Bn.


 Segments Covered:
by Product
Calcium
Magnesium
Iron
Potassium
Zinc
Chromium
Selenium
Others


by End-Users
Adult Women
Adult Men
Senior Citizen



India Mineral Supplements Market Key Player
1. Glanbia Plc.
2. Nu Skin Enterprises, Inc.
3. E. I. du Pont de Nemours and Company.
4. NBTY, Inc.
5. Koninklijke DSM N.V.
6. BASF SE
7. Amway and Herbalife, Ltd.
8. Abbott
9. Nestle
10. Biovea
11. Amway
12. Bayer AG
13. Atrium Innovations Inc.
14. Bayer AG
15. Others
Frequently Asked Questions:
1) What was the market size of India Mineral Supplements Market markets in 2022?

Ans - India Mineral Supplements Market was worth US$ 1.44 Bn in 2022.

2) What is the market segment of India Mineral Supplements Market markets?

Ans -The market segments are based on Product, End-Users.

3) What is forecast period consider for India Mineral Supplements Market?

Ans -The forecast period for India Mineral Supplements Market is 2023 to 2029.

4) Which are the worldwide major key players covered for India Mineral Supplements Market report?

Ans - Glanbia Plc., Nu Skin Enterprises, Inc., E. I. du Pont de Nemours and Company., NBTY, Inc., Koninklijke DSM N.V., BASF SE,Amway and Herbalife, Ltd., Abbott, Nestle, Biovea, Amway, AG, Atrium Innovations Inc.
Bayer AG, Others

5) Which region is dominated in India Mineral Supplements Market?

Ans -In 2022, North India region dominated the India Mineral Supplements Market