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.
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