Abstract
Manufacturers of Mineral Fortification and Supplements Need to Invest Heavily
in R&D and Marketing for Wider Product Ranges
The European mineral fortification and supplement market is currently in a
state of flux, with changes being made in the areas of technology and
legislations. Manufacturers have to constantly develop new products that
minimise the negative impact that these changes will have on their business
operations. This often calls for heavy investments in R&D and marketing as
well as a close working relationship with legislative and regulatory
authorities.
This Frost & Sullivan research analysis examines the European mineral
fortification and supplements market, segmenting it into calcium, iron,
magnesium, zinc, selenium and manganese. The study also breaks the market by
application into feed, dietary supplements, food and beverages and pet food.
It discusses the major market drivers and restraints and strategic
recommendations to overcome industry challenges.
Greater Desire for Healthy Lifestyles among the Ageing Population Enhances
Demand for Minerals
The ageing population in most developed countries is looking to maintain
optimal physical health. This driver is of particular importance as people in
the over 65 age bracket now have greater incomes. Moreover, the rising
interest in preventative healthcare measures is supporting the uptake of
minerals supplements. This, along with longer life expectancy, is expected to
increase the focus on dietary minerals in Europe.
"In 1995, people over the age of 65 represented just 21 per cent of the
population in western Europe, but this share is expected to rise to 33 per
cent by 2025," says the analyst of this study. Thus, the elderly population
demographics are expanding the market potential of minerals and supplements.
Increased Consumer Awareness and Expanding Profile of Mineral Benefits to
Inflate Market Size
Encouraged by high growth in the European food industry, manufacturers in the
mineral fortification and supplement market have increased their marketing and
advertising activities. "The general increase in consumer awareness in Europe
has been stimulated by the favourable coverage of micro minerals in health
magazines, dieting books and other promotional campaigns, creating abundant
market opportunities for mineral manufacturers," notes the analyst. "The
increasing awareness towards preventative healthcare is driving not only the
sales for over-the-counter mineral products in Europe, but for fortified food
products as well." Manufacturers have also ramped up production capacity and
are working on creating more innovative products.
Minerals are also used in cosmetics or as an active ingredient in
sun-protection, anti-ageing, shaving or makeup products. Such uses are
expected to strongly drive the growth of the mineral market in Europe.
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