The global micronutrient powders market size is set to surpass US$ 8.1 Billion in 2032 and exhibit astonishing growth at a CAGR of 4.7% in the forecast period from 2022 to 2032. Increasing cases of malnutrition, especially in underdeveloped countries are expected to propel the demand for micronutrient powders in future. As per FMI, the micronutrient powders market is likely to be valued at US$ 3.6 Billion in in 2022.
| Report Attribute | Details |
|---|---|
| Micronutrient Powders Market Estimated Base Year Value (2021) | US$ 2.9 Billion |
| Micronutrient Powders Market Expected Market Value (2022) | US$ 3.6 Billion |
| Micronutrient Powders Market Anticipated Forecast Value (2032) | US$ 8.1 Billion |
| Micronutrient Powders Market Projected Growth Rate (2022 to 2032) | 4.7% CAGR |
Micronutrient powders are extensively used to fortify foods in those settings where micronutrients are insufficient to boost optimal growth in pregnant women or children. Micronutrients represent one of the public health's most widespread and promising interventions.
The easy availability of convenient and relatively low cost micronutrient powders to enhance the well-being and health of children and women is likely to push sales of micronutrient powders in the upcoming years. These can be easily sprinkled over regular meals as they come in the encapsulated form, thereby improving the food with micronutrients but not changing its taste.
Children who often have difficulties in swallowing vitamins or pills can be properly dosed with the help of micronutrient powders. The market is expected to witness the entry of several small-scale enterprises, especially in emerging economies with the abundant availability of cost-effective raw material and labor.
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Numerous government and private organizations, including the World Health Organization (WHO) and the U.S. Food and Drug Administration (FDA) have approved the usage of micronutrient powders as an alternative to overcome or eliminate the constraints related to mass fortification and supplementation. These powders are intended to surge the mineral and vitamin intake of young children and infants belonging to the age group of 6 to 23 months.
The increasing demand for these powders among school-age and preschool age children belonging to 2 to 12 years is another crucial factor that is projected to spur the micronutrient powders market growth in the near future. In addition, governments of both developed and developing countries are conducting awareness programs to educate the masses about the availability of these powders, which would foster growth.
The lack of knowledge about micronutrient powders in remote and underdeveloped areas across the globe may hinder the market in the forthcoming years. The high cost of newly developed products infused with organic ingredients by key players is another vital factor that may obstruct the demand for micronutrient powders in the upcoming years.
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The rising prevalence of micronutrient deficiency among women in developing countries, such as India and China owing to blood loss and infection during menstruation is a major factor that is projected to augment the Asia Pacific micronutrient powders market share in the evaluation period. As per UNICEF, nearly 2.3 billion people lack basic sanitation services worldwide. Thus, managing periods at home is a challenge for adolescent girls and women who lack basic facilities in developing countries. This factor is likely to push the need for micronutrient powders across Asia Pacific.
Moreover, nutrient losses due to poor diets, as well as inadequate intake of nutrient-rich food items in this region is likely to drive the market. The metabolic requirement for micronutrients is very high during lactation, pregnancy, and early development. Thus, governments of India and China are implementing new strategies to fortify staple food items for lowering micronutrient deficiencies and enhancing dietary diversity.
The adoption of four main strategies by the United Nations Food and Agriculture Organization (FAO) and WHO, namely, disease control measures, nutrition education, micronutrient supplementation, and food fortification to improve dietary intake is set to fuel sales of micronutrient powders in North America. According to the Centers for Disease Control and Prevention (CDC), neonatal and maternal deaths fall between 2.5 million and 3.4 million globally every year.
To prevent deaths among women and children caused due to the lack of essential vitamins and minerals, regulatory bodies in the U.S. and Canada are implementing stringent norms to mandate the usage of micronutrient powders in staple foods. Various renowned food manufacturers based in these countries are also choosing to add one or more micronutrients in their processed foods to keep up with government norms.
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Some of the leading companies present in the global micronutrient powders market include Nature’s Sunshine Forms, Amway, Pfizer, Herbalife International, Nutrex, Bayer, Post Holdings Inc., NutraClick, Arkopharma Laboratoires Pharmaceutiques, GNC Holdings, Bionova Lifesciences, Glanbia, Olimp Laboratories, Abbott Laboratories, and PowerBar Europe GmbH among others.
The majority of the key players in the global market are striving to increase sales and expand their distribution networks by launching innovative products. They are investing huge sums in the procurement of organic ingredients to manufacture their in-house products. A few small-scale enterprises are joining hands with international players to co-develop unique products and strengthen their positions in the global market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.7% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Ingredients, Application, End User, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Herbalife International; GNC Holdings; Amway; Glanbia; Bayer; Abbott Laboratories; NutraClick; Nature’s Sunshine Forms; Bionova Lifesciences; PowerBar Europe GmbH; Arkopharma Laboratoires Pharmaceutiques; Nutrex; Olimp Laboratories; Pfizer; Post Holdings Inc. |
| Customization | Available Upon Request |
The global micronutrient powders market is set to exceed US$ 8.1 Billion in 2032.
Asia Pacific is set to lead the micronutrient powders market in the forecast period.
Nature’s Sunshine Forms, Amway, Pfizer, Herbalife International, Nutrex, Bayer, Post Holdings Inc., and NutraClick are some of the renowned companies in the micronutrient powders market.
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Micronutrient Powders Market
