The Bone and Joint Health Ingredients Market consists of dietary supplements used to maintain bone and joint health. Calcium, Vitamin D, and glucosamine are some of the commonly used ingredients that help build strong bones, reduce joint pain, and support flexibility. As people are suffering more from osteoporosis and arthritis due to sedentary lifestyles and aging populations, demand for bone and joint supplements is rising.
The Global Bone and Joint Health Ingredients Market is estimated to be valued at US$ 3853.12 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Bone and Joint Health Ingredients Market are ABB Ltd., Electricity Coordinating Center Ltd., Siemens AG, Energy Exemplar, Atos SE, General Electric Company, Unicorn Systems, ETAP/Operation Technology, Inc., Operation Simulation Associates, Inc., Schneider Electric DMS NS, PSI AG, and Artelys SA. Key players like Nestle and Archer Daniels Midland Company have been offering glucosamine and collagen-based supplements to cater to the rising demand.
The Bone And Joint Health Ingredients Market Share provides several opportunities for players to expand such as developing innovative delivery formats, targeting millennial population and focusing on emerging countries. The rising health-conscious consumer base in countries like India, China, Brazil and Mexico will drive future market growth.
With increasing global geriatric population prone to bone and joint disorders, the demand for joint-friendly products is rising worldwide. The key players are focusing on geographic expansion plans in Asia Pacific, Latin America, and Middle East & Africa to tap the inbound opportunities.
Market key trends
The Bone and Joint Health Ingredients Market demand is witnessing growth driven by an increased demand for natural and plant-based supplements. Consumers are inclined towards ingredients sourced from natural herbs and plants due to perceived safety risks of synthetic ingredients. Many supplement manufacturers are offering products rich in organic ingredients like soy isoflavones, turmeric, and ginger extracts known to support joint health. Another key trend is customization, where consumers are demanding supplements tailor-made as per their sex, age, lifestyle, and medical conditions.
Porter’s Analysis
Threat of new entrants: New players will face high initial capital costs for manufacturing plants and establishing brands. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. Bargaining power of suppliers: A few large players supply key ingredients giving them significant bargaining power over buyers. Threat of new substitutes: Threat is moderate as new natural ingredients and supplements can substitute existing ingredients. Competitive rivalry: Intense competition among existing players to gain market share by expanding product portfolio and engaging in strategic collaborations.
Geographical Regions
North America holds the largest share of the global bone and joint health ingredients market, both in terms of value and volume. This is attributed to rising health consciousness and growing aging population susceptible to joint disorders in the United States and Canada.
Asia Pacific is expected to exhibit the fastest growth during the forecast period. Increasing incomes, growing awareness about health & wellness, and rising expenditure on dietary supplements in major countries such as China and India are fueling market growth in the region. Growing middle class demographic and expanding retail channels for health products further support the market expansion.
