According to a report by Micro Market Monitor (MMM), the European mineral market will grow to €636.80 million by 2018, up from €420.5 million in2012.
The increase represents a 7.2% growth rate from 2013 and, says MMM, is being driven by consumer willingness to fork out more for high quality supplements.
“The rise in the consumption of dietary supplements to enhance overall health and wellness has in turn increased the revenue generated by minerals, incorporated in these supplements,” said the report. “The willingness of the consumers in this region to spend premium amounts on superior quality nutraceuticals has further caused a spur in the demand for mineral ingredients.”
MMM also said that also helping to driving this growth are the health concerns consumers have around conditions including osteoporosis and neural disorders.