U.S. Iron Supplement Market to Reach $3,105.74 Million by 2032: Claims Allied Market Research

By GlobeNewswire On Nov 2, 2023

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Iron supplement refers to a dietary product designed to provide a concentrated dose of the essential mineral iron to individuals who may have difficulty obtaining sufficient amounts through their regular diet alone. Iron is a crucial element for our body’s proper functioning as it plays a central role in the production of hemoglobin, the protein in red blood cells responsible for transporting oxygen throughout the body.

Wilmington, Delaware, Nov. 02, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “U.S iron supplement market by Form (Solid, Liquid, and Other), Distribution Channels (Online and Offline): Global Opportunity Analysis and Industry Forecast, 2023-2032“. According to the report, the global U.S. iron supplement market was valued at $1,747.37 million in 2022, and is projected to reach $3,105.74 million by 2032, registering a CAGR of 5.9% from 2023 to 2032.

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Prime determinants of growth

The U.S. iron supplement market has experienced significant growth due to a surge in prevalence of iron deficiency anemia, growing awareness about fitness and nutrition and rise in use of iron supplement as medical supplement. The rise in the prevalence of iron deficiency anemia has a direct impact on the U.S. iron supplement market. As more individuals are diagnosed with iron deficiency anemia, there is a greater demand for iron supplements to address the condition. Iron supplements are commonly prescribed or recommended by healthcare professionals to treat iron deficiency anemia and to prevent iron deficiency in vulnerable populations, such as pregnant women and young children.

Report Coverage & Details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$1,747.37 million
Market Size in 2032	$3,105.74 million
CAGR	5.90%
No. of Pages in Report	125
Segments covered	Form and Distribution Channels
Drivers	Rise In Prevalence of Iron Deficiency Anemia in The U.S Increase In Demand for Iron Supplement as Medical Supplement Increase In Awareness About Health and Fitness
Opportunities	Development of iron supplements by key players
Restraints	Side Effects Associated with The Intake of Iron Supplements

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Covid-19 Scenario

The outbreak of the Covid-19 pandemic surged the demand for iron supplements.
The demand for iron supplements surged in the initial phase of pandemic due to the mass purchase of iron supplement by peoples to boost their immunity.
However, the supply chain disruption due to lockdown resulted in the shortage of iron supplements.

The solid segment to maintain its leadership status throughout the forecast period

Based on form, the solid segment held the highest market share in 2022, accounting for nearly two third of the U.S. Iron supplement market revenue, owing to the ease of carrying and longer shelf life. However, liquid segment is expected to register fastest growth during the forecast period. This segment is projected to manifest the highest CAGR of 6.7% from 2023 to 2032, This is attributed to the high adoption of liquid form by children and elderly patients.

The offline segment to maintain its leadership status throughout the forecast period

Based on distribution channel, the offline segment held the highest market share in 2022, accounting for more than two third of the U.S. iron supplement market revenue. However, online segment is expected to register fastest growth during the forecast period. This segment is projected to manifest the highest CAGR of 5.7% from 2023 to 2032, owing to rise in adoption of online distribution channels by peoples.

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Leading Market Players: –

A.C. Grace Company
Gensavis Pharmaceuticals
Soho Flordis International
Jamieson Wellness Inc.
NOW Foods
Otsuka Pharmaceutical Co., Ltd.
Nestlé
Thorne HealthTech
BetterYou
PharmaNutra SpA

The report provides a detailed analysis of these key players in the U.S. iron supplement market These players have adopted different strategies such as merger and geographical expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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