PUBLISHER: The Business Research Company | PRODUCT CODE: 1425295
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425295
Bone And Joint Health Supplements Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on bone and joint health supplements market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for bone and joint health supplements? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The bone and joint health supplements market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Bone and joint health supplements, comprising essential elements like calcium, minerals, and key vitamins such as D and K, play a vital role in maintaining bone density and preventing degeneration in joints. These supplements contribute to enhancing range of motion, alleviating arthritis-related pain, expediting post-injury healing, and promoting overall joint health by fostering strong and dense bones.
The primary categories of bone and joint health supplements include vitamin D, vitamin K, calcium, collagen, omega-3 fatty acids, glucosamine-chondroitin, and others. Vitamin D supplements regulate the body's calcium and phosphorus levels, crucial for maintaining robust bone structure. Vitamin D is a fat-soluble vitamin present in some foods, occurring naturally in a few, and available as a nutritional supplement. These supplements come in various forms such as tablets, capsules, liquid, powder, and more, and are utilized in dietary supplements, functional foods and beverages, among other applications. Distribution channels include supermarkets or hypermarkets, pharmacies, health stores, convenience stores, internet retailing, and others.
The bone and joint health supplements market research report is one of a series of new reports from The Business Research Company that provides bone and joint health supplements market statistics, including bone and joint health supplements industry global market size, regional shares, competitors with a bone and joint health supplements market share, detailed bone and joint health supplements market segments, market trends and opportunities, and any further data you may need to thrive in the bone and joint health supplements industry. This bone and joint health supplements market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The bone and joint health supplements market size has grown strongly in recent years. It will grow from $12.9 billion in 2023 to $14.06 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The historical growth can be ascribed to factors such as adherence to quality assurance and safety standards, increased accessibility through retail channels, recommendations from medical professionals, and effective marketing strategies coupled with consumer education.
The bone and joint health supplements market size is expected to see strong growth in the next few years. It will grow to $20.3 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The forecasted growth can be attributed to concerns about healthcare costs, a focus on natural and organic ingredients, endorsements and recommendations from the medical community, trends in fitness and wellness, and the demand for customized solutions. Notable trends in the forecast period include innovations in formulations, the influence of sports and fitness trends, and increased emphasis on medical recommendations and endorsements.
The bone and joint health supplements market is poised for growth due to the increasing prevalence of osteoporosis. Osteoporosis, a condition characterized by altered bone structure and decreased bone mass, is linked to low calcium intake. Lifelong calcium deficiency contributes to osteoporosis development, making bone and joint health supplements essential. In the United States, osteoporosis causes 1.5 million fractures annually, incurring $19 billion in costs. Predictions indicate a 68% rise in annual fractures by 2040. This escalation in osteoporosis cases propels the demand for bone and joint health supplements.
The bone and joint health supplements market is set to grow further with the increasing aging population. As individuals age, typically 65 or older, there is a heightened focus on maintaining bone density, joint function, and overall musculoskeletal health. Supplements play a vital role in managing osteoporosis risk, alleviating pain, and enhancing nutrient absorption. Globally, 1 in 6 people will be 60 or older by 2030, with an anticipated doubling to 2.1 billion by 2050. In the UK, seniors are projected to make up 24% of the total population by 2043. This demographic shift contributes significantly to the expanding bone and joint health supplements market.
Product innovation is a prominent trend in the bone and joint health supplements market, with companies striving to introduce new and appealing offerings. Notably, The Nature's Bounty Co., a US-based health and wellness brand, launched a jellybean vitamin line in November 2021. These vegetarian jellybean vitamins provide a tasty and entertaining way for both adults and children to support general wellness. The absence of artificial sweeteners aligns with the growing preference for natural and enjoyable supplements, contributing to the evolving landscape of bone and joint health products.
Major companies are concentrating on innovative products, such as calcium + vitamin D supplements, to boost revenues in the bone and joint health supplements market. Calcium and vitamin D play essential roles in maintaining optimal bone health, and combining them into a single formulation enhances their effectiveness. For example, Nutrazee, an India-based vegan supplement company, introduced Vegan Calcium and D3 Gummies in January 2022. These gummies, with a natural orange flavor, are 100% vegan and provide additional calcium and vitamin D to support strong bones, teeth, and a healthy immune system. This product innovation aligns with the growing demand for convenient and plant-based supplement options.
In August 2021, Nestle Health Science, based in Switzerland, acquired Bountiful Company's core brands for an undisclosed amount. This strategic acquisition enhances Nestle Health Science's portfolio, offering trusted products to improve global health. Bountiful Company, a US-based joint care supplement brand, becomes part of Nestle Health Science, contributing to the company's commitment to providing comprehensive nutrition solutions and advancing its position in the bone and joint health supplements market. This strategic move reflects the industry's focus on acquisitions to strengthen market presence and broaden product offerings.
Major companies operating in the bone and joint health supplements market report are Nature's Bounty Incorporated, The Procter & Gamble Company, Amway Corporation, BASF SE, Archer Daniels Midland Company, Reckitt Benckiser Group PLC, Pfizer Incorporated, Vita Life Sciences Limited, Glanbia PLC, Nutramax Laboratories Consumer Care Incorporated, Koninklijke DSM N.V., Xtend-Life Incorporated, Bergstrom Nutrition Incorporated, BioScience Nutrition Incorporated, Herbs Nutriproducts Private Limited, Arazo Nutrition Incorporated, Vitawin International Holdings Limited, Pure Encapsulations LLC, Abbott Laboratories Incorporated, NutriScience Innovations LLC, Optimum Nutrition Inc., Rainbow Light Nutritional Systems Inc., Schiff Nutrition International Inc., Solgar Vitamin and Herb Co. Inc., Source Naturals Inc., Sports Research Corporation, Swanson Health Products Inc., Twinlab Consolidation Corporation, USANA Health Sciences Inc., and Vitacost.com Inc.
North America was the largest region in the bone and joint health supplements market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bone and joint health supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the bone and joint health supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The bone joint and health supplement market consist of sales of anthocyanins, polyphenols, sulforaphane, and diallyl disulfide. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.