Japan is the Largest Minerals Market in Asia-Pacific With A Market Share of 42.54%

Date: 2015-08-11

The Asia Pacific minerals (nutraceuticals) market is estimated to grow at a CAGR of 7.3% from 2014 to 2019. However, some constraints are inhibiting the growth of this market. For instance, health claims related to particular products lack validation from concerned governmental authorities. Every government has its own clinical approval agency that sets the norms and regulations. The nutraceuticals ingredient manufacturers face difficulties while developing products that will adhere to the norms set by different agencies in different countries.

In this report, the Asia-Pacific minerals market has been segmented on the basis of its applications, such as functional food, functional beverages, dietary supplement, animal nutrition, and personal care. The dietary supplement segment is estimated to grow at the highest CAGR from 2014 to 2019. Awareness regarding benefits of minerals in the supplementary food and personal care products is the major diving force for the minerals market in this region. 

Japan is the largest minerals market in Asia-Pacific with a market share of 42.54%, followed by China and India. The minerals market in China is projected to grow with the highest CAGR among all countries in coming years. Secure investment opportunities and increasing awareness among consumers are the major driving factors for the Asia-Pacific minerals market.

BASF SE (Germany) holds a significant share in the Asia-Pacific minerals market. Archer Daniels Midland Co. (U.S.), Cargill Inc. (U.S.), Royal DSM (Netherlands), and Ingredion Inc. (U.S.) are other leading companies operating in the minerals market in this region. These companies are opting for varied market strategies, such as mergers & acquisitions, joint ventures, new product development, and expansions to increase their market share. 

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