Food Minerals Market Size, Share, Industry Analysis, Trends, Growth, 2030

Food Minerals Industry Prospective:

The global food minerals market size was evaluated at $2 billion in 2022 and is slated to hit $7 billion by the end of 2030 with a CAGR of nearly 16.8% between 2023 and 2030.

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Food Minerals Market: Overview

Food minerals play a major role in primarily preventing heart ailments and cancer in people along with annihilating nutritional deficiency as well as chronic diseases. They are the inorganic materials that help human beings maintain good health. Minerals such as calcium, zinc, and iron are the most prominently used minerals in foods as they assist in promoting health and reducing ailments.

Key Insights

• As per the analysis shared by our research analyst, the global food minerals market is projected to expand annually at the annual growth rate of around 16.8% over the forecast timespan (2023-2030)
• In terms of revenue, the global food minerals market size was evaluated at nearly $2 billion in 2022 and is expected to reach $7 billion by 2030.
• The global food minerals market is anticipated to grow rapidly over the forecast timeline owing to escalating demand for natural food-based minerals in the nutraceuticals and pharmaceutical sectors.
• In terms of product, the magnesium segment is slated to register the highest CAGR over the analysis period.
• Based on application, the pharmaceuticals segment is projected to record a massive surge in the coming years.
• Region-wise, the Asia-Pacific food minerals industry is expected to register the fastest CAGR during the projected timeline.

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Food Minerals Market: Growth Factors

Growing demand for products in a slew of end-use sectors to embellish the global market trends

Escalating demand for natural food-based minerals in the nutraceuticals and pharmaceuticals sectors will steer the growth of the food minerals market over the forecasting years. Swift urbanization and growing health awareness among consumers will promote the use of natural items in countries such as the U.S., China, Germany, India, and the UK, thereby driving global market trends. Rising customer focus on personal health problems including weight, stress management, and allergy will elevate the global market expansion over the ensuing years.

Moreover, a surge in logistics analytics and the upgradation of distribution channels such as pharmacies, health stores, supermarkets, and web portals are predicted to favorably influence the global food minerals market over the estimated timespan. Apparently, food minerals possess anti-inflammatory and anti-oxidizing features. It helps in controlling high blood pressure and regulating insulin in individuals. Food minerals aid in improving eye health, memory, heart health, and reducing obesity. Apart from this, it helps in effectively treating problems pertaining to digestion, heart disorders, renal diseases, endocrinal issues, and musculoskeletal issues.

Food Minerals Market: Restraints

An increase in costs of extracting minerals to impede the global industry surge by 2030

The rise in the mineral extraction process costs will put brakes on the global food minerals industry over the assessment period. An increase in the requirement for clinical trials for food minerals will impede the expansion of the industry globally.

Food Minerals Market: Opportunities

Growing demand for mineral supplements to help the global market explore new avenues of growth

Surging preference for mineral supplements and dietary supplements in various end-use sectors will open new growth avenues for the global food minerals market. A massive number of research activities in the food & beverages sector will open new growth opportunities for the global market.

Food Minerals Market: Challenges

Oscillations in the supply chain can put brakes on the global industry surge by 2030

Fluctuations in the supply chain activities along with a scarce supply of raw materials are anticipated to pose a huge challenge in the growth of the global food minerals industry.

Food Minerals Market: Segmentation

The global food minerals market is sectored into product, application, and region.                    

In terms of product, the global food minerals market is segregated into zinc, iron, calcium, and magnesium segments. Furthermore, the magnesium segment, which gained approximately 79% of the global market share in 2022, is expected to register the highest CAGR in the period from 2023 to 2030. The growth of the segment during the forecast timeline can be ascribed to the key role played by the product in regulating over 300 enzymatic reactions that include nerve impulse transmission, controlling the increase in the glucose levels in the blood, and synthesizing of proteins & fatty acids along with food metabolizing.

Based on the application, the global food minerals industry is sectored into nutraceuticals, food & beverages, and pharmaceuticals segments. Moreover, the pharmaceuticals segment, which accrued the highest share of the global industry in 2022, is anticipated to lead the segment in the forecasting years. The segmental surge over the forecast timespan can be credited to large-scale product penetration in the pharmaceuticals segment.

Food Minerals Market: Report Scope

Food Minerals Market: Regional Insights

North America to establish its dominance in the global Food Minerals market over the forecast period

North America, which accumulated nearly 50% of the global food minerals market revenue in 2022, is projected to lead the regional market sphere in the forecasting years. Apart from this, the surge in the market size in the sub-continent over the coming year can be credited to an increase in the incidences of obesity and the growing acceptance of healthy living in countries like Canada and the U.S. In addition to this, escalating demand for mineral supplements due to health awareness has propped the product's popularity in the region. Furthermore, growing end-user preference for minerals like magnesium, zinc, and calcium will create lucrative growth opportunities for the food minerals market in North America over the estimated period.

Asia-Pacific food minerals industry is predicted to record the fastest CAGR over the forecast period owing to the presence of key players in countries such as Australia, India, New Zealand, and China. An increase in acceptance of health supplements along with a surge in healthcare awareness in emerging economies will drive the growth of the industry in APAC. In addition to this, a rise in the demand for personal care products in countries such as India and China will proliferate the size of the regional industry growth.

Key Developments

• In the second half of 2022, Royal DSM N.V., a key Dutch player in the health & nutrition sector, introduced a new database for identifying micronutrient gaps in eleven countries of APAC with a view of assisting health supplement firms & producers in producing products fulfilling the requirements of food minerals.
• In the first quarter of 2023, Bayer AG, a key German player in the pharmaceuticals & biotechnology sector, launched the Nutrient Gap initiative expansion, thereby providing impetus to the expansion of the global food minerals market.

Food Minerals Market: Competitive Space

The global food minerals market profiles key players such as:

• Balchem Corporation
• SPI Pharma
• Inc.
• Cargill
• Incorporated
• Adani Pharmachem Private Limited
• ABF Ingredients Limited
• Waitaki Bio
• Archer-Daniels-Midland Company
• Sigma Minerals Limited
• Calspar India
• CalciTech Europe Limited.

Moreover, the market is highly consolidated with only a few players capturing a huge share of the global market.

The global food minerals market is segmented as follows:

By Product

• Magnesium
  • Magnesium Citrate
  • Magnesium Sulfate
  • Magnesium Oxide
  • Magnesium Chloride
• Zinc
  • Zinc Oxide
  • Zinc Acetate
  • Zinc Citrate
  • Zinc Chloride
  • Zinc Sulfate
• Iron
  • Ferrous Gluconate
  • Ferrous Sulphate
  • Ferrous Lactate
  • Ferrous Fumarate
• Calcium
  • Calcium Phosphate
  • Calcium Carbonate
  • Calcium Chloride
  • Calcium Citrate

By Application

• Food & Beverages
• Nutraceuticals
• Pharmaceuticals

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa