Global Bone & Joint Health Supplements Market is thriving owing to the rising awareness of micronutrient inadequacies, rising access to supplements, availability of multiple products, and rising numbers of distribution channels.
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global Bone & Joint Health Supplements Market was worth USD 10.31 billion in the year 2021. The market is projected to grow at a CAGR of 9.2%, earning revenues of around USD 18.83 billion by the end of 2028. The key driver for the growth of the Global Bone & Joint Health Supplements Market is the aging population’s increased desire for dietary supplements. Throughout the anticipated period, it is estimated that the market for supplements for bone and joint health would have significant revenue growth due to the aging baby boomer population and the rise in lifestyle disorders. Moreover, increasing consumer interest in active living, rising disposable income, and expanding health consciousness are further significant drivers of the sector. However, high R&D investments and the high cost of clinical trials hinder market growth.
Growing Consumer Awareness of Micronutrient Deficiencies
Rising consumer knowledge of nutritional deficiencies’ prevalence and dangers. Additionally, as more people become aware of how nutritional deficiencies can be remedied by supplementation, the demand for products that support bone and joint health will rise, further boosting the market growth. More people are selecting healthier supplements because nutrition and health are directly intertwined. Middle-class incomes are increasing in several regions of Asia, Latin America, and Africa, enabling consumers to spend more on dietary, nutritional, and food supplements. This results in offering lucrative opportunities for the Global Bone & Joint Health Supplements Market during the forecast period (2022-2028).
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Aging Population Supports Market Growth
The elderly population is focusing on adjusting to supplements that are specifically tailored to their needs to maintain their good health and quality of life. As people age, they go through several changes, including psychological, physiological, and social ones that affect how they eat. The older population increasingly relies on individualized dietary regimens and routine meal selections. To maintain their general health, the aging populations of many countries have increased the demand for age-friendly dietary options with improved nutritional value.
Challenge: Regulatory Influence
Numerous changes in the industry are being brought about by the general shift in consumer trends. Regulations and requirements relating to nutrition obtained from dietary supplements are evolving. These laws were created in response to evolving nutritional care standards. The FDA and FSSAI have introduced some of these rules. These rules apply to probiotic and prebiotic foods as well as dietary supplements and foods for special diets. The Food and Nutrition Board of the National Academy of Medicine has established recommended dietary allowances and safe upper limits. The quality, efficacy, and safety of supplements for bone and joint health face regulatory obstacles. Regulations governing supplements including vitamins and omega fatty acids sold in South Africa ensure that each product is registered with and approved by SAHPRA. The market as a whole may face serious obstacles as a result of these new restrictions.
Segmental Coverage
Global Bone & Joint Health Supplements Market – By Form
Based on the form, the Global Bone & Joint Health Supplements Market is segmented into Tablets, Capsules, Liquid, Powder, and Others. During the forecast period, the tablet segment is anticipated to develop at the greatest CAGR. Due to the simple availability of varied dosage patterns, simple packaging, storage, and cost-effectiveness, the tablet form of bone and joint health supplements is frequently used. Tablet-based supplements for bone and joint health are ingested because they contain a variety of nutrients, including vitamins and omega-3 fatty acids. Due to their long shelf lives compared to other forms of nutritional supplements, tablets are also favored. The benefits of compressed tablets are their general stability and wide range of sizes and shapes. As a result, it is simple to mix a variety of nutritious supplements into tablet form. Because of this, compresses tablets are popular.
Impact of COVID-19 on Global Bone & Joint Health Supplements Market
To avoid COVID-19, international health agencies such as the World Health Organization (WHO) advise consumers to boost their immune systems. Nutraceuticals with immune-boosting qualities, such as collagen, vitamins, and calcium, are predicted to gain popularity. As a result of the COVID-19 epidemic, the population is embracing social distance and following the trend of working from home or remaining at home, causing consumers to modify their regular habits, such as becoming more health concerned, resulting in an unprecedented level of supplement demand. Consumers’ need for self-care is fueling the growth of bone and joint supplements. Customers went out more to hunt for these things during the closure, so the category grew. People are getting more concerned about their health as the population grows.
Competitive Landscape
The leading market players in the Global Bone & Joint Health Supplements Market are Bayer AG, Procter & Gamble, Amway, BASF SE, Archer Daniels Midland, Reckitt Benckiser, Pfizer, Vita Life Sciences Ltd, Arazo Nutrition, Nature’s Sunshine Products, Inc, Glanbia Plc, Vitawin, Nutramax Laboratories Consumer Care, Inc, Simply Supplements, Love Life Supplements, Now Foods, Bellavita Healthcare Pvt Ltd, Vitaco, Nutravita, Life Extension, Pure Encapsulations, LLC, Herbs Nutriproducts Pvt. Ltd., Millennium Herbal Care, and other prominent players. The Global Bone & Joint Health Supplements Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Bone & Joint Health Supplements Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Bone & Joint Health Supplements Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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