The plant-based iron supplements market is expected to grow at a CAGR of 5.5% from 2022 to 2032. The plant based iron supplements market is projected to be valued at USD 208.5 Million in 2022 and is anticipated to reach USD352.9 Million by 2032.
Plant-based products offer both healthier and safer alternatives to animal-based options. The rising global popularity of veganism is driving the growth of the plant-based iron supplements market. The increasing consumer preference for these supplements, along with their versatility in use, is contributing to their widespread adoption.
Although plant-based iron supplements are often associated with lower mineral absorption levels compared to animal-based sources, recent research published in the Journal of Nutrition indicates that they may still provide notable benefits. This study explores how different types of iron supplements impact absorption, suggesting that while plant-based options may not absorb as efficiently as their animal-based counterparts, they still offer valuable advantages.
Plant-based iron supplements are typically more cost-effective and accessible than animal-based alternatives, making them an appealing choice for those seeking affordable dietary supplementation. This affordability has contributed to a rising consumer preference and is expected to drive the growth of the plant-based iron supplements market over the next decade.
Additionally, the increasing popularity of plant-based diets is fueling demand for these supplements. As more individuals choose to reduce meat consumption for health, environmental, or ethical reasons, they are turning to plant-based sources for essential nutrients like iron. To meet the evolving market demands, manufacturers are innovating by integrating plant-based iron supplements into a variety of processed foods.
Key Takeaways: Plant Based Iron Supplements Market
- India currently has a plant-based iron supplements market share of around 5.8% in South Asia.
- By type, the ferrous gluconate segment is expected to generate a plant-based iron supplements market share of 3.4% in 2022.
- Based on application, the sports nutrition segment is set to account for a plant-based iron supplements market share of 3.2% 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 6.0%.
- During the forecast period, the Germany plant-based iron supplements market is likely to grow at a high CAGR of 26.5%.
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.
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Plant Based Iron Supplements Market Outlook by Key Segments
By Type:
- Ferrous Sulfate
- Ferrous Gluconate
- Ferric Citrate
- Ferric Sulfate
By Application:
- Additional Supplements
- Sports Nutrition
- Medicinal Supplements
By Form:
- Tablet
- Liquid
- Capsules
- Syrup
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