Plant Based Iron Supplements Market to Surpass US$ 352.9 Mn by 2032 Amid Growing Popularity of Veganism Worldwide | FMI
The plant-based iron supplements market is expected to grow at a CAGR of 5.4% from 2022 to 2032. The plant based iron supplements market is projected to be valued at US$ 208.5 Mn in 2022 and is anticipated to reach US$ 352.9 Mn by 2032.
Plant-based products are both healthier and safer than animal-based products. The plant-based iron supplements market is being driven by growing popularity of veganism around the world. Increased adoption of plant-based iron supplements is primarily due to their growing consumer popularity, as well as the product’s versatility in terms of application.
Plant-based iron supplements are linked to lower levels of the mineral in the body. A research study published in the Journal of Nutrition looked at how different types of iron supplements affect absorption. While previous studies have shown that plant-based iron supplements are not well absorbed as animal-based products, this new research shows that they may still have some benefits.
Plant-based iron supplements are usually cost-effective and easier to find than animal-based products, making them a good option for people who are looking for an affordable way to supplement their diet. which has led to growing consumer preference for it and, in turn accelerate the plant-based iron supplements market in the next ten years.
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Another factor driving the sales of plant-based iron supplements is the growing popularity of plant-based diets. More and more people are looking to reduce their meat consumption for health, environmental, or ethical reasons. As a result, they are turning to plant-based sources of nutrients like iron. To keep up with the plant-based iron supplements market trends, plant-based iron supplements manufacturers are developing novel ways to incorporate their products into various processed foods.
Key Takeaways: Plant Based Iron Supplements Market
- India currently has a plant-based iron supplements market share of around 8% in South Asia.
- By type, the ferrous gluconate segment is expected to generate a plant-based iron supplements market share of 4% in 2022.
- Based on application, the sports nutrition segment is set to account for a plant-based iron supplements market share of 2% in 2022.
- During the forecast period, the plant-based iron supplements market in the U.K. is expected to grow at a rapid CAGR of 0%.
- During the forecast period, the Germany plant-based iron supplements market is likely to grow at a high CAGR of 5%.
“Demand for plant based iron supplements is set to surge at a fast pace in recent years owing to a rapidly growing number of vegans and increasing health awareness among consumers. Development of energy-rich offerings and rising need for clean label ingredients, especially in developed countries are projected to spur the market in the next ten years,” says a lead analyst at Future Market Insights.
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Competitive Landscape: Plant Based Iron Supplements Market
Top 5 manufacturers of plant-based iron supplements are Naturelo, Garden of Life, MegaFood, and New Chapter. Together, these companies are currently holding 20% to 30% of the plant-based iron supplements market share.
Companies are using plant-based iron supplements to increase their employees’ health and productivity. Iron is an essential mineral that helps to transport oxygen to cells and produces energy in the body. Unfortunately, iron deficiency is common, especially among women of childbearing age.
Supplementing with iron can help prevent fatigue, improve work performance, and reduce the risk of health problems associated with iron deficiency. With increasing research & development activities and technological advancements, companies are finding new techniques to effectively use plant-based iron supplements to their maximum potential.
Plant-based iron supplements are used by companies like Naturelo. The main source of iron in these supplements comes from plants such as spinach and kale. Some products also include other ingredients such as vitamin C, which can help improve absorption. Iron is an important mineral for maintaining health. It plays an important role in helping to transport oxygen in the blood and supports a healthy immune system. Many people do not get enough iron in their diet and so taking a supplement can be helpful.
Get More Valuable Insights on Plant Based Iron Supplements Market
Future Market Insights, in its new offering, provides an unbiased analysis of Plant-Based Iron Supplements presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study provides valuable insight on the plant-based iron supplements market based by type (ferrous sulfate, ferrous gluconate, ferric citrate, ferric sulfate), by form (tablet, liquid, capsules, syrup) by application (additional supplements, sports nutrition, medicinal supplements), and region.
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