Vitamin & Mineral Supplements Market

The global vitamin and mineral supplements market are expected to grow at a rate of 6.57% during the forecast period and is attributed to the growing demand for immunity-boosting products coupled with increasing healthcare costs. However, the rise of counterfeit and fake product supply in the market is hampering the growth of the market during the forecast period. Nevertheless, the strong growth of the geriatric population and the growth of e-commerce sales in the dietary supplement industry are expected to create lucrative opportunities for the players in the global market. Varying government regulations to related labeling and claims of vitamin and mineral supplements are posing a challenge for the players in the global market.

The outbreak of the COVID-19 virus has induced an increased sense and focus on well-being and immunity. As a result, consumers have resorted to vitamin and mineral supplements as one of the primary resources to achieve immunity development. MRFR analysis on the vitamin and mineral supplements consumption in the American region revealed that around 30% of the 3/4th of the population who were already taking vitamin supplements before the pandemic have increased their vitamin supplements intake post the outbreak. One of the key reason stated for the increased supplement intake by the respondents were attributed to the increased focus on overall body immunity and physical health. Similar were the results of the survey conducted by the DSM where the immunity boosting products are gaining popularity among the parent’s community post-pandemic. Health Food Manufacturers’ Association survey “Health of the Nation 2021; Lockdown Focus” data shows that around 20 million individuals in the country are incorporating supplements into their daily diet. In comparison to the 2019 survey, supplement intake has witnessed a growth of around 20%.

The escalating demand for immunity-boosting products is marked by the heightened sales and new product launches by some of the manufacturers in the market. According to MRFR analysis, the sales of vitamin and mineral supplements have witnessed a growth of around 16% in 2021 compared to 2020 in the US region. In 2021, Natural Grocers, one of the grocery chain parts of Vitamin Cottage, Inc in the United States has launched a range of vitamins & supplements under its brand. As part of the launch, the company has also rolled out a one-on-one virtual session with a nutritional health coach who would help in educating the customers regarding the vitamins & supplements product free of cost. In the same year, Bassetts Vitamins launched a new range of vitamin products that are targeted at the adult segment comprising pregnant women, men and women, and elderly people. The company spokesperson in a press release of the product mentioned that consumers are facing difficulties in selecting the right vitamin supplement product that caters to the intended age group and requirement and hence has launched the new range with clear demarcation that can be easily identified. Similarly, there were various vitamin and mineral supplements launched by other manufacturers in 2022 including the Vitamin Shoppe, GlaxoSmithKline Consumer Healthcare, etc.

World Health Organization forecasts that the global population would comprise an elderly population share of 22% by 2050 which is twice that of individuals of age 60 and above in 2015. Noncommunicable diseases are It also estimates that around 1 in 6 individuals in the global population will be in the age group of 60 & above, by 2030 and accounting for a population of 1.4 billion. Aging is commonly associated with several health issues and conditions including osteoarthritis, diabetes, neck pain, dementia, urinary incontinence, etc. The increasing geriatric population is a quite common scenario across different regions and races. Europe is the leading region in the share of the aging population in the globe and currently 1/5th of the EU population is comprised of the elderly population (65 years and over). This aging population growth increases health costs spent on the elderly population and is forecasted that by 2070, the net expenditure on the aging population would rise by 1 to 2% of the overall GDP of the region. Around 80% of the elderly population in Australia are diagnosed with any form of selected chronic health disease and around 49% of the older population in the age group 65 and above have arthritis condition in 201-2018, according to the Australian Institute of Health and Welfare.

Micronutrients including vitamins and minerals are considered vital for older people in averting or reducing the risk of a range of health conditions including cardiac diseases, high blood pressure, diabetes, high cholesterol, osteoporosis, and bone loss. Health experts suggest that micronutrients like zinc, iron, potassium, calcium, vitamin D, vitamin B12, vitamin C, and Vitamin A are essential for a healthy system for the geriatric population. However, most of these micronutrients and the recommended daily intake levels are not met with regular diet and hence doctors are recommending various forms of vitamin and mineral supplements to treat health issues in the geriatric population and maintain a healthy lifestyle. Thus, the strong growth of the geriatric population is expected to augment the demand for various forms of vitamin and mineral supplements which is creating opportunities for the players in the global market during 2022-2030.

The skyrocketing demand for vitamin and mineral supplements in the global market, though has given a strong market potential for new players and a bouquet of opportunities for the key players in the market. However, on the downside, the robust growth has resulted in the inundation of counterfeit vitamin and mineral supplement products in the global market. 2020 survey of Hungary’s National Anti-Counterfeiting Board highlighted that 40% of the young respondents have come across a counterfeit dietary supplement. NOW, a key player in supplements solutions based out of the United States has encountered around 11 counterfeit supplement offerings of the brand that are being sold on the Amazon website stands as an example of the booming issue in the supplements industry. The E-commerce channel is one of the key parts of various counterfeit and fake vitamin and mineral supplements trade in the market and pills, powders, gels, tablets, ready-to-drink beverages, gummies, and snacks bars are a few of the key forms of supplements that are most commonly counterfeited.

in 2021, Nestle’s senior legal IP counsel and digital & anti-counterfeiting on a podcast conducted by the Council for Responsible Nutrition on the topic of “Counterfeit Dietary Supplements: Reducing Your Risk and Fighting Back” underscored that in the year 2019, 1/40th of the global products trade is counterfeit and pirated goods. Further, the podcast also discussed the extent of the impact of counterfeit products sales in the nutrition business and Nestle Health Science business involved in the sales and marketing of vitamin and mineral supplements are taking several steps including broad registration of the brand names across various regions and using advanced anti countering technologies to tackle the issue. Research on immune-supporting products that are sold on Amazon was conducted by the University of Mississippi and Uniformed Services University which revealed that around 57% of the supplements solutions that were tested didn’t comply with the claims made by them and turned out to be fake. The supply of these counterfeit and fake products not only damages the brand image of the product but also results in skepticism about the whole vitamin and mineral supplement product's effectiveness in delivering the claims. Thus, the rise in counterfeit and fake products supply in the vitamin and mineral supplements market is anticipated to slow down the growth during the forecast period

Dietary supplement products including vitamin and mineral supplements products manufacturing, labeling, marketing, and advertising have different regulations across regions. The Food and Drug Administration (FDA) regulates the product development, manufacturing, and distribution of dietary supplement products under the 1994 regulation act titled ‘Dietary Supplement Health and Education Act’ (DSHEA) which is mandatory to be followed in the United States. Under the act, the manufacturers' claims on health, structure/function, and nutrient content grounds. The health claims can only be given if the company can provide an authorized health claim that is supported by scientific literature and established agreement (or) with the help of authoritative statements provided by scientific authorities under the US government or the National Academy of Sciences (or) qualified health claims by authorities. In addition, the FDA guidance on food labeling covers the nutritional content claims of dietary product offerings. For structure/function claims, FDA asks the manufacturers to issue a disclaimer in the product regarding the product’s function.

The Natural and Non-prescription Health Products Directorate (NNHPD) is the regulatory authority in Canada that oversees nutritional health products including vitamin and mineral supplements. Contrasting to the FDA regulation the supplements are not covered under pharmaceutical regulations and NNHPD requires the vitamin and mineral supplements manufacturers to obtain a license approved by the Health Ministry of Canada. While in the European region, the supplements are classified as food products and are governed by all food-related regulations. In addition to the EU food regulations, supplement manufacturers need to comply with different country-specific legislations in the region including the German Food Supplements Regulation, German Food and Feed Code of Law, Décret n°2006-352 (France), Royal Decrees (Belgium), and Legislative Decree no. 111, no. 169, and no. 109 of Italy. Dietary supplements or nutrient supplements comprising vitamin and mineral supplements are considered health food in China and are regulated under the legislation related to health food. Similarly, the regulations and legislations on labeling and claims for vitamin and mineral supplements are different in Japan, India, Singapore, New Zealand, etc. The varying government regulation related to labeling and claims of vitamin and mineral supplements is posing challenges for the manufacturers in the global market to develop and market products that are compliant in all regions.