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Protein Vitamins and Minerals

Protein Vitamins and Minerals Market Research Reports

"Building Blocks of Health: Trends and Insights in the Protein, Vitamins, and Minerals Market (2024 Market Size: USD 164 billion)"!

Protein Vitamins and Minerals Industry Overview

In recent years, the protein, vitamins, and minerals market has experienced substantial development, and the supplement industry's expansion has fueled the increased awareness of health and advancements in food technology. According to cognitive market research, In 2023, the global market for dietary supplements, which encompasses proteins, vitamins, and minerals, was USD 151 billion, with a compound annual growth rate (CAGR) of 8.2%. In 2024 the proteins, vitamins, and minerals market size is USD 164 billion and will be USD 308.07 billion by 2031, with a CAGR of 8.20%. North America maintains its market dominance, with 35% of the global market share in 2023. Europe follows with a 27% share, while the Asia-Pacific region is the fastest-growing market, with a CAGR of 9.5% through 2024. 

In 2023, the protein supplements market size was USD 21.5 billion and will be USD 23.4 billion by 2024. The increasing number of vegans and vegetarians is a significant factor in the demand for plant-based proteins. The trend of incorporating proteins into functional foods and beverages is on the rise. In 2023, the sales of products such as protein-enriched snacks, bars, and beverages increased by 12%. The most proactive demographics are millennials and Gen Z, with 60% of consumers actively pursuing products with high protein content, according to a 2023 survey. The vitamins market was valued at USD 55.1 billion in 2023 and will be USD 59.4 billion by 2024. Vitamin D, C, and B complexes are the most prevalent category, with multivitamins following closely behind. There is an increasing trend toward personalized nutrition. 

Companies that provide personalized vitamin packets that are tailored to the unique health requirements and genetic profiles of their customers experienced a 15% increase in revenue in 2023. In 2023, the global minerals market size was USD 23.3 billion and will be USD 25.2 billion by 2024. Calcium, magnesium, and iron are in high demand. The demand for calcium and magnesium supplements has been fueled by the emphasis on bone health, particularly among geriatric populations. In 2023, the combined market for these supplements experienced a 7% growth. There is a substantial effort to promote sustainable packaging and sourcing. In 2023, 40% of supplement companies reported that they had implemented environmentally responsible practices.

Top Countries Contributing in Protein Vitamins and Minerals Market

United States (2024 Market Size: USD 54 billion)

According to cognitive market research, the United States protein, vitamins, and minerals market size was USD 50 billion in 2023, and will be USD 54 billion in 2024. In 2023, the market expanded at an 8% rate, primarily due to the robust supplement industry and the growing awareness of health issues. Functional foods and beverages, sports nutrition, and healthcare are among the main markets that employ these products. The demand for vitamins and minerals, particularly calcium and vitamin D for bone health, is significantly influenced by the healthcare market, particularly the senior population. Another critical market is sports nutrition, which is characterized by a strong preference for protein supplements among fitness devotees and athletes. The United States is the greatest market for dietary supplements, with 33% of the global market share. In 2023, the protein segment alone generated USD 12 billion, with plant-based proteins experiencing significant growth. Multivitamins were the most popular category, with a total contribution of USD 38 billion from vitamins and minerals. In 2023, personalized nutrition experienced significant growth as companies began to offer customized supplement packages that were based on genetic profiles and lifestyle preferences. This trend contributed to a 12% increase in sales.

China (2024 Market Size: USD 27.5 billion)

The China protein, vitamins, and minerals market share is 16% of the total revenue generated and its market size was USD 25 billion and will be USD 27.5 billion by 2024, with a compound annual growth rate (CAGR) of 10%. The market's expansion is driven by the increasing awareness of health among consumers, urbanization, and the increase in disposable incomes. Functional foods, healthcare, and infant nutrition comprise the primary sectors that stimulate demand. The infant nutrition market is of particular importance because of the high birth rate and the widespread use of fortified baby formulas. In 2023, the protein segment, which encompasses both animal and plant-based proteins, contributed USD 7 billion, while vitamins and minerals accounted for USD 18 billion. Public health campaigns and the growing awareness of micronutrient deficiencies have resulted in calcium, iron, and vitamin C being among the most frequently consumed supplements. Consumers are increasingly favoring imported and premium products as a result of their apprehensions regarding the quality of local products. In 2023, there was a substantial increase in e-commerce sales, with online platforms helping to drive a 15% increase in supplement sales.

Germany (2024 Market Size: USD 13.2 billion)

As per cognitive market research, The protein, vitamins, and minerals market in Germany was valued at USD 12 billion in 2023, and will be USD 13.2 billion in 2024. The market is expanding at a consistent rate of 6%, which is primarily due to the population's strong emphasis on health and wellness. Healthcare, sports nutrition, and dietary supplements for geriatric populations are among the primary sectors that employ these products. The healthcare market, notably in the context of preventive health, is essential, as there is a significant demand for vitamins D and B12. Germany holds 8% of the global market. In 2023, the protein segment, particularly plant-based proteins, contributed USD 3 billion, which is indicative of the country's increasing vegan and vegetarian trends. Multivitamins and mineral supplements for bone health were notably popular, accounting for USD 9 billion in vitamins and minerals. Sales of organic-certified products experienced a 10% increase in 2023 as the trend toward natural and organic supplements gained momentum. The adoption of eco-friendly practices by 50% of companies is indicative of the growing importance of sustainability. The prevalence of digital health tools is increasing, with a 20% rise in the use of applications and devices to monitor supplement intake and health metrics.

United Kingdom (2024 Market Size: USD 11 billion)

The United Kingdom protein, vitamins, and minerals market share is 6% and its market size was USD 10 billion in 2023, and will be USD 11 billion by 2024, representing a 5% growth rate. The healthcare, sports nutrition, and mental health dietary supplement sectors primarily drive the market. In particular, the National Health Service (NHS) and the healthcare market advocate for the use of vitamins and minerals to promote preventive health, particularly among older individuals. In 2023, the protein segment generated USD 2.5 billion in revenue, with a substantial increase in plant-based proteins as a result of the growing popularity of vegetarian and vegan lifestyles. Vitamins and minerals comprised USD 7.5 billion, with iron, vitamin C, and vitamin D being the most prevalent. Personalized nutrition services experienced an 8% increase in 2023, providing customized supplement regimens that are determined by individual health assessments. The issue of sustainability is becoming increasingly prevalent, as 40% of organizations have implemented environmentally friendly strategies. There was a 15% increase in the use of digital health integration as more consumers began to monitor their supplement ingestion through applications.

Japan (2024 Market Size: USD 9.7 billion)

In 2023, the Japan protein, vitamins, and minerals market size was USD 9 billion and will grow at a rate of 7% to USD 9.7 billion by 2024. Healthcare, sports nutrition, and cosmetic supplements comprise critical sectors. The demand for vitamins and minerals is primarily driven by the healthcare market, with a particular emphasis on calcium and vitamin D for bone health, particularly among older people. Japan holds 5% of the global market share. In 2023, the protein segment, which encompasses both animal and plant-based proteins, made a USD 2 billion contribution. Collagen and cosmetic supplements were the primary focus of the USD 7 billion in vitamins and minerals. Sales increased by 12% in 2023 as the trend toward functional foods and beverages became increasingly popular. Sustainability and innovation are important trends. The integration of digital health instruments experienced a 10% increase, and 35% of companies implemented eco-friendly practices. The regulatory framework in Japan is rigorous, assuring that products meet high standards of safety and efficacy. An aging population and a strong emphasis on preventive health fuel the market's steady growth through 2024.

India (2024 Market size: USD 8.8 billion)

According to cognitive market research, the India's protein, vitamins, and minerals market size is USD 8.8 billion in 2024, with a compound annual growth rate (CAGR) of 10%. In 2023, the market size was USD 8 billion. Healthcare, sports nutrition, and fortified consumables are the primary sectors that are propelling the market. Demand for vitamins and minerals is substantially stimulated by the healthcare market, particularly in the context of maternal and infant health. About four percent of the global market share is held by India. In 2023, the protein segment, notably plant-based proteins, contributed USD 2 billion, which is indicative of the country's vegetarian preferences. Iron, calcium, and vitamin A were the most frequently consumed vitamins and minerals, accounting for USD 6 billion. In 2023, sales of personalized nutrition services and e-commerce platforms increased by 15%. Sustainability and the incorporation of digital health are emerging trends. Digital health tools experienced a 12% increase in utilization and 30% of companies implemented environmentally friendly practices. The regulatory environment in India is transforming as stricter regulations are being implemented to guarantee the safety of products.

Brazil (2024 Market Size: USD 7.7 billion)

The Brazil protein, vitamins, and minerals market size was USD 7 billion and will be USD 7.7 billion by 2024, indicating a 9% growth rate. Healthcare, sports nutrition, and fortified consumables are among the sectors that extensively employ these products. The demand for vitamins and minerals is primarily driven by the healthcare market, with a particular emphasis on maternal and infant health. Brazil accounts for 3.5% of the global market share. In 2023, the protein segment generated USD 1.5 billion in revenue, with a burgeoning interest in plant-based proteins. Vitamins and minerals comprised USD 5.5 billion, with iron, vitamin C, and vitamin D being the most prevalent. Supplement sales increased by 10% on e-commerce platforms in 2023. Sustainability and the integration of digital health are noteworthy trends. Eco-friendly practices were implemented by 25% of organizations, and digital health instruments experienced a 10% increase in utilization. Product quality and consumer safety are being guaranteed by the increasingly stringent regulatory environment in Brazil. The market is expand steadily through 2024, fueled by a youthful population and a growing awareness of health.

Canada (2024 Market Size: USD 6.5 billion)

The protein, vitamins, and minerals market in Canada market share is 3% of the total revenue generated and its market size was USD 6 billion in 2023 and will be USD 6.5 billion by 2024, representing an 8% growth rate. The market is primarily driven by healthcare, sports nutrition, and functional consumables. The healthcare market is essential, notably in the context of preventive health, as there is a significant demand for vitamins D and B12. Canada holds 3% of the global market share. In 2023, the protein segment made a significant contribution of USD 1.5 billion, with a particular emphasis on plant-based proteins. Multivitamins and mineral supplements for bone health were particularly popular, accounting for USD 4.5 billion in sales. In 2023, the prevalence of personalized nutrition services increased by 10%. The adoption of eco-friendly practices by 40% of companies is indicative of the growing importance of sustainability. The prevalence of digital health instruments is increasing, with a 15% rise in the use of apps and devices to monitor supplement intake and health metrics. Canada's regulatory framework guarantees consumer safety and high-quality standards. The market maintain its consistent development in 2024, which an aging population and heightened health awareness will bolster.

France (2024 Market Size: USD 

The France protein, vitamins, and minerals market in Australia was valued at $4.5 billion, and analysts anticipate that it will reach $5 billion by 2024, representing an 8% growth rate. The market is primarily driven by healthcare, sports nutrition, and functional consumables. The healthcare sector is essential, notably in the context of preventive health, as there is a significant demand for vitamins D and B12. Approximately 2.5% of the global market is controlled by Australia. There was substantial growth in plant-based proteins, which contributed $1.2 billion to the protein segment in 2023. Multivitamins and mineral supplements for bone health were particularly popular, accounting for $3.3 billion in sales. In 2023, the prevalence of personalized nutrition services increased by 10%. The adoption of eco-friendly practices by 40% of companies is indicative of the growing importance of sustainability. The prevalence of digital health instruments is increasing, with a 15% rise in the use of apps and devices to monitor supplement intake and health metrics.

Australia (2024 Market Size: USD 5 billion)

The Australia protein, vitamins, and minerals market size was USD 4.5 billion in 2023 and will be USD 5 billion by 2024, representing an 8% growth rate. The market is primarily driven by healthcare, sports nutrition, and functional consumables. The healthcare market is essential, notably in the context of preventive health, as there is a significant demand for vitamins D and B12. Australia holds 2.5% of the global market share. There was substantial growth in plant-based proteins, which contributed USD 1.2 billion to the protein segment in 2023. Multivitamins and mineral supplements for bone health were particularly popular, accounting for USD 3.3 billion in sales. In 2023, the prevalence of personalized nutrition services increased by 10%. The adoption of eco-friendly practices by 40% of companies is indicative of the growing importance of sustainability. The prevalence of digital health instruments is increasing, with a 15% rise in the use of apps and devices to monitor supplement intake and health metrics.

PESTEL Analysis of Protein Vitamins and Minerals Market

Political

The protein, vitamins, and minerals market is substantially affected by the political environment. Health and safety standards are of the utmost importance in accordance with government regulations and policies. Stringent guidelines for product approval, labeling, and marketing are established by regulatory bodies such as the FDA in the United States and the EFSA in Europe. The safety and efficacy of products are guaranteed by adhering to these regulations, which is essential for the trust of consumers. Nevertheless, these regulations can also present obstacles, as they necessitate a significant investment in compliance and can cause delays in the introduction of products. International trade policies and relations are also a significant factor. Tariffs, trade agreements, and geopolitical tensions can influence the supply chain and distribution of basic materials and finished products. For example, tariffs on imports can elevate production expenses, which can influence profitability and pricing. In contrast, companies that operate in multiple countries may find it simpler to enter and expand the market as a result of favorable trade agreements. Market growth can be stimulated by government initiatives that emphasize public health and nutrition awareness. 

Economical

Economic factors significantly influence the protein, vitamins, and minerals market. The demand for health supplements is directly influenced by the global economic environment, which includes GDP growth, inflation rates, and consumer purchasing power. Consumers are more inclined to invest in premium health products during periods of economic prosperity, while economic downturns can result in decreased discretionary spending. Market growth is substantially determined by disposable income and consumer spending patterns. Health and wellness products, such as dietary supplements, are generally in greater demand in regions with higher disposable incomes. Conversely, in regions with lower incomes, affordability can serve as an impediment to market penetration despite the increasing recognition of the health benefits. The market is also influenced by currency exchange rates, particularly for companies that operate in multiple countries. Pricing strategies and profitability can be affected by fluctuations in exchange rates, which can affect the cost of basic materials, production, and distribution.

Social

The protein, vitamins, and minerals market is significantly influenced by social factors, which are predominantly driven by changing consumer lifestyles, preferences, and demographic trends. A significant factor is the growing awareness of health among consumers. More individuals are integrating supplements into their daily routines as awareness of the advantages of a balanced diet and preventive health increases. Population aging is a significant demographic trend that has a significant impact on the market in numerous countries. The utilization of vitamins and minerals to enhance the quality of life and manage health conditions is more prevalent among older individuals. This demographic transition generates a substantial market for supplements that concentrate on cognitive function, cardiovascular health, and bone health. Modern consumers' fast-paced lifestyles and urbanization are also significant social factors. The demand for protein powders, meal replacement shakes, and on-the-go vitamins has increased as a result of the increasing number of individuals who prefer convenient and quick solutions to meet their nutritional requirements, which is a result of their busy schedules. Market dynamics are influenced by the diversity of cultural attitudes toward health and wellness that exist across regions. 

Technological

The evolution and expansion of the protein, vitamins, and minerals market are significantly influenced by technological advancements. In the industry, substantial changes are being driven by innovation in digital health instruments, manufacturing processes, and product development. Advancements in nutrigenomics and biotechnology are facilitating the development of personalized nutrition solutions. Companies can improve the efficacy and consumer satisfaction of supplements by customizing them to satisfy the unique health requirements of an individual through the analysis of their genetic profile. This personalized approach is acquiring momentum, with a annual market growth rate of 11%. The evolution of manufacturing technologies has facilitated the production of high-quality supplements with improved bioavailability and absorption rates. The stability and efficacy of vitamins and minerals are being improved through the use of techniques such as microencapsulation and nanotechnology. These advancements guarantee that consumers derive the greatest possible advantage from their supplements. Another noteworthy technological development is the incorporation of digital health instruments. 

Environmental

The protein, vitamins, and minerals market is being increasingly impacted by environmental factors, which are resulting in a greater emphasis on sustainability and eco-friendly practices. Companies are encouraged to implement environmentally friendly practices throughout their supply chains as a result of the industry's scrutiny of its environmental impact. A critical environmental consideration is the sustainable procurement of raw materials. For example, compared to synthetic and animal-based alternatives, plant-based proteins and organic vitamins are experiencing an increase in popularity due to their reduced environmental impact. In order to guarantee the sustainability of their supply chains, organizations are investing in sustainable agriculture practices, including responsible harvesting and regenerative farming. Sustainable procurement practices were implemented by 30% of companies in the market in 2023. Another substantial environmental concern is packaging. The industry is progressing toward the reduction of plastic waste by implementing reusable, recyclable, and biodegradable packaging solutions. Packaging materials and designs that reduce waste and carbon footprints are becoming increasingly prevalent. The market experienced a 25% increase in the utilization of eco-friendly packaging in 2023.

Legal

The protein, vitamins, and minerals market is significantly influenced by legal factors, including regulations, compliance standards, intellectual property rights, and advertising laws. These legal frameworks guarantee the safety, efficacy, and quality of products, thereby safeguarding consumers and preserving market integrity. Regulatory compliance is an indispensable component. Guidelines for product formulation, labeling, manufacturing, and marketing are established by organizations such as the FDA in the United States, the EFSA in Europe, and similar organizations worldwide. Failure to comply with these regulations may lead to product recalls, fines, and reputational harm. Regulatory compliance costs comprised 5-10% of the operational budgets of companies in this market in 2023. The laws governing labeling are exceedingly rigorous. Ingredients, dosages, and health claims must be listed with precision in products. Legal action and consumer distrust may result from misleading labels. The Clean Label Movement, which promotes transparency and simplicity in ingredient lists, has gained momentum, thereby affecting consumer expectations and legal standards.

Key Players of Protein Vitamins and Minerals Market

Nestlé Health Science

Nestlé Health Science, a subsidiary of Nestlé S.A., generated USD 10 billion in revenue from its protein, vitamins, and minerals segment in 2023 and will generate USD 11 billion in 2024. Nestlé Health Science is strongly committed to research and development, allocating USD 500 million in 2023 to the development of personalized nutrition solutions and innovative products. The company's dedication to research and development is increase by 10% in 2024, with a particular emphasis on the advancement of clinical nutrition and dietary supplements. Nestlé Health Science's primary business segments are consumer care, active lifestyle nutrition, and medical nutrition. The active lifestyle nutrition and consumer care segments are the primary sectors that encompass the protein, vitamins, and minerals markets. The company's portfolio encompasses a variety of well-known brands, including Garden of Life, Optifast, and Boost, which are designed to meet the requirements of both general wellness and specific health conditions, such as muscle maintenance and weight management. Nestlé Health Science currently occupies 6% of the global market share in the protein, vitamins, and minerals market. 

Amway

In 2023, Amway's protein, vitamins, and minerals segment generated USD 9.5 billion in revenue, with an increase to USD 10.2 billion by 2024. In 2023, the organization allocated USD 400 million to research and development, with an emphasis on product innovation and quality enhancements. In 2024, Amway intends to augment its product offering and preserve its market position by increasing its R&D budget by 8%. Health and wellness, beauty and personal care, and domestic care comprise Amway's principal business segments. The health and wellness segment is the primary focus of the protein, vitamins, and minerals market, which is dominated by flagship brands such as Nutrilite. Nutrilite, which is recognized for its exceptional protein products, vitamins, and supplements, makes a substantial contribution to Amway's overall revenue. Around 5% of the global market share in the protein, vitamins, and minerals market is held by Amway. This share is bolstered by the company's extensive network of independent business owners (IBOs), who generate sales in over 100 countries.

Herbalife Nutrition

In 2023, Herbalife Nutrition generated USD 5.5 billion in revenue from its protein, vitamins, and minerals segment, and will increase to USD 6 billion by 2024. In 2023, the organization allocated USD 150 million to research and development, with a focus on scientific validation and product innovation. Herbalife intends to augment its current formulations and create new products by increasing its R&D investment by 10% in 2024. Weight management, targeted nutrition, vitality and fitness, and outer nutrition comprise Herbalife's principal business segments. The targeted nutrition and weight management segments are the primary integration points for the protein, vitamins, and minerals market. Herbalife's product line encompasses protein smoothies, multivitamins, and specialized supplements that are intended to facilitate a variety of health objectives. Formula 1 Nutritional Shake Mix and the Herbalife24 sports nutrition line are among the company's most popular products, which substantially contribute to its revenue. Herbalife occupies 3.5% of the global market share in the protein, vitamins, and minerals market. The company's extensive network of independent distributors, which operates in more than 90 countries, serves to support this share.

Abbott Laboratories

In 2023, Abbott Laboratories' protein, vitamins, and minerals segment generated an USD 4 billion in revenue, with an increase to USD 4.4 billion by 2024. In 2023, the organization allocated USD 200 million to research and development, with an emphasis on clinical research and product innovation. Abbott intends to enhance its portfolio and preserve its market leadership by increasing its R&D budget by 12% in 2024. Diagnostics, medical devices, pharmaceuticals, and nutrition comprise Abbott's principal business segments. Nutrition is the primary sector that encompasses the protein, vitamins, and minerals market, with prominent brands like Pedialyte and Ensure at the forefront of the market. Abbott's revenue is substantially influenced by the sale of Ensure, a nutritional supplement that is both comprehensive and well-balanced, and Pedialyte, an electrolyte solution. In the protein, vitamins, and minerals market, Abbott controls 2.5% of the global market share. This share is bolstered by the company's reputation for high-quality, scientifically-backed products and its robust presence in more than 160 countries.

Glanbia Plc

In 2023, Glanbia Plc generated USD 3 billion in revenue from its protein, vitamins, and minerals segment, with an increase to USD 3.3 billion by 2024. In 2023, the organization allocated USD 100 million to research and development, with an emphasis on portfolio expansion and product innovation. Glanbia intends to enhance its market position and stimulate development by increasing its R&D investment by 8% in 2024. Glanbia's principal business segments are dairy, performance nutrition, and nutrition. The performance nutrition and nutritional segments are the primary integration points for the protein, vitamins, and minerals market. Glanbia's product line encompasses fortified cereals, protein supplements, and sports nutrition products. The popularity of brands like Optimum Nutrition, BSN, and Isopure substantially influences the company's revenue. Glanbia controls 2% of the global market share in the protein, vitamins, and minerals market. The company's robust presence in critical markets, including Europe and North America, serves to support this share.

Recent developments in Protein Vitamins and Minerals Market

Conclusion

In recent years, the protein, vitamins, and minerals market has exhibited remarkable growth and resilience due to a rise in demand for dietary supplements and heightened health awareness. The global market for these products was USD 150 billion in 2023. In 2024 the proteins, vitamins, and minerals market size is USD 164 billion and will be USD 308.07 billion by 2031, with a CAGR of 8.20%. This expansion is indicative of the market's resilience. This market expansion has been substantially influenced by key players, including Abbott Laboratories, Nestlé Health Science, Amway, Herbalife Nutrition, and Glanbia Plc. Nestlé Health Science, for example, reported revenues of USD 10 billion in 2023, which are increase to USD 11 billion in 2024. 

The company's substantial investments in research and development are propelling innovation and personalized nutrition solutions. In the same vein, Amway's revenue in this market was USD 9.5 billion in 2023 and will be USD 10.2 billion by 2024, underscoring its dominance in health and wellness products. The market's primary business segments are healthcare, sports nutrition, and functional foods, with a growing preference for plant-based and organic supplements. A 15% increase in sales was observed in 2023 for plant-based protein products, which is indicative of a trend toward more sustainable and health-conscious consumer choices. Furthermore, personalized nutrition is experiencing growth, as evidenced by a 12% increase in tailored supplement sales. This trend is achieved by utilizing digital tools and health data to address the unique requirements of each individual.