Try This one
You didn't need to set any min font size. It will change font size automatically to show title if needed.
NSArray *itemArray = [NSArray arrayWithObjects: @"Title1 testing font size", @"Title2", @"Titl3",nil];
UISegmentedControl *segmentedControl = [[UISegmentedControl alloc] initWithItems:itemArray];
segmentedControl.frame = YOUR_FRAME;
[segmentedControl addTarget:self action:@selector(segmentControlClicked:) forControlEvents:UIControlEventValueChanged];
[self.view addSubview:segmentedControl];
for (id segment in [segmentedControl subviews])
{
for (id label in [segment subviews])
{
if ([label isKindOfClass:[UILabel class]])
[label setAdjustsFontSizeToFitWidth:YES];
}
}