U.S. Iron Supplement Market : Projected to Grow Expeditiously , to Attain USD 3.1 Billion by 2032 | CAGR of 5.9%

How big is the U.S. Iron Supplement Market?

The U.S. iron supplement market was valued at $1,747.37 million in 2022, and is projected to reach $3,105.73 million by 2032, registering a CAGR of 5.9% from 2023 to 2032.

Major Factors Driving the Growth of U.S. Iron Supplement Market:

• The increase in need for iron supplements due to various medical conditions is expected to drive the growth of the market.
• Iron deficiency among the frequent blood donors is expected to drive the growth for the U.S. iron supplement market.
• Furthermore, the anemia in chronic diseases is also expected to drive the growth of the market. The relationship between chronic diseases and anemia is significant as many chronic conditions can lead to the disruption of the body’s normal production or function of red blood cells.

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Covid-19 Scenario:

• Increased Health Awareness: The pandemic brought a heightened focus on health and immunity, leading many individuals to become more conscious of their nutrient intake. Iron supplements were seen as a means to support overall health and immune function.
• Supply Chain Disruptions: In the early stages of the pandemic, global supply chains faced disruptions, impacting the availability of certain products, including iron supplements. This, in some cases, led to temporary shortages and price fluctuations.
• Shift in Consumer Behavior: Consumers, facing lockdowns and health concerns, altered their buying habits. E-commerce and online sales of health supplements, including iron supplements, saw a surge as people preferred contactless shopping.
• Telehealth and Professional Guidance: Remote healthcare consultations and telehealth services became more popular. Healthcare professionals recommended supplements, including iron, to patients during virtual consultations.
• Fluctuating Demand: Demand for iron supplements fluctuated throughout the pandemic. At times, it increased due to health concerns and immunity support, while at other times, it decreased as economic uncertainties affected consumer spending.
• Market Consolidation: Some smaller players in the iron supplement market may have faced challenges during the pandemic, while larger, more established brands may have gained market share.

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Competitive Landscape:

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

Recent Geographical Expansion in the U.S. iron supplement market

In December 2022, PharmaNutra S.p.A., a company specializing in iron- and mineral-based nutritional supplements and medical devices for muscles and joints, announced the incorporation of new company PharmaNutra U.S.A. Corp. (PharmaNutra USA), a wholly-owned subsidiary of PharmaNutra S.p.A., with operational headquarters in Florida (U.S.) and a share capital of $300,000.

Recent Merger in the U.S. iron supplement market

In February 2021, Thorne, a health and technology company, announced that it has merged with Onegevity, a health intelligence company with a proprietary, multi-omic platform that leverages artificial intelligence (AI) and machine learning to map, integrate, and understand the billions of dynamic and biological features that showcase the state of an individual’s health. The merger of Thorne and Onegevity creates Thorne HealthTech, a science-driven, vertically integrated wellness platform built to deliver best-in-class, end-to-end nutritional solutions and health intelligence.

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Key Benefits for Stakeholders

• The study provides an in-depth analysis of the U.S. iron supplement market and the current trends & future estimations to elucidate imminent investment pockets.
• It presents a quantitative analysis of the market from 2023 to 2032 to enable stakeholders to capitalize on the prevailing market opportunities.
• Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
• Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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