The global mineral supplement tablets market is projected to exhibit a significant growth, at a CAGR of around 6.5%, during the forecast period. The increasing e-commerce industry is considered as one of the major factors that will drive the growth of the mineral supplement tablets market during the forecast period. This includes the introduction of prominent e-commerce portals across the globe, including Amazon, Alibaba, and Walmart. The primary factor that is augmenting the global market growth includes the ease of purchasing and convenience through these e-commerce channels. It offers 24/7 accessibility, 365 days a year, along with no downtime for closing times, public holidays, and unfavorable climatic conditions. With e-commerce, purchasing is faster and easier, without the hassle of crowds and traffic.
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Amazon and Walmart are currently the major participants in the market, which is together accounting for nearly one-third of online grocery sales. The online purchase of medicines in UK estimated to 13% in 2018, as per Eurostat. The online sales are further expected to show considerable growth during the forecast period. This is due to the availability of a range of online options and consumers becoming more open to frequently using online options to purchase their products. With the increasing demand for online purchasing, more and more businesses are moving to e-store from brick and mortar stores.
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There is an increasing adoption of e-commerce portals as a product selling medium has been observed among nutraceutical manufacturers for providing access to products through key benefits such as favorable discounts and cash-on-delivery, which in turn, tend to open new avenues in the near future. The industry has already seen greater adoption of e-commerce purchases as compared to other consumer goods industries, with the growing preference of consumers to purchase minerals from online channels owing to the convenience offered by them. Such a presence of a large number of mineral supplement tablets on e-commerce platform coupled with the increasing use of online channel among consumers tends to create ample opportunity for the growth of the market in the near future.
During recent years and due to the immense growth of smartphones and reducing cost of laptops and desktops, the internet penetration has increased immensely. Improved infrastructure, lower selling price and reduced costs associated with marketing and outreach of products over a digital platform contribute to promoting online sales across the globe. The countries of Asia-Pacific, as well as the European region, have shown significant growth in the number of people using the internet. As per the International Telecommunication Union, countries such as UK and Norway have high internet penetration rates across the globe. Whereas, countries such as India, Philippines, and Vietnam have shown great potential with a very fast adoption rate.
Global Mineral supplement tablets Market-Segmentation
- Others (Zinc and Chromium)
Global Mineral supplement tablets Market– Segment by Region
- United States
- Rest of Europe
- Rest of Asia-Pacific
Rest of the World
- Abbott Laboratories
- Amway Corp.
- BASF SE
- Bayer AG
- Carlyle Nutritionals LLC
- Deva Nutrition LLC
- Glanbia plc
- GlaxoSmithKline PLC
- Herbalife International, Inc.
- Klean Athletes
- Koninklijke DSM N.V.
- Laboratoires ARKOPHARMA
- Nature Made (Pharmavite LLC)
- Now Health Group Inc.
- Otsuka Pharmaceuticals Co., Ltd.
- Pfizer Inc.
- Pure Encapsulations, Inc.
- The Nature's Bounty Co.
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