by The global bone and joint health ingredients market comprises products such as glucosamine, chondroitin, MSM, and calcium that are rich sources for maintaining bone and joint health. These ingredients help reduce inflammation, improve mobility, and strengthen bones and joints. The bone and joint health ingredients market provides natural relief for conditions like arthritis, osteoporosis and joint discomfort.
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. These players are focusing on new product launches and strategic collaborations to strengthen their market position.
The bone and joint health ingredients market 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 drivers
The Global Bone And Joint Health Ingredients Market Growth is projected to witness high growth owing to rising geriatric population worldwide which is more vulnerable to bone and joint disorders like arthritis. As per United Nations report, there were over 703 million people aged 65 years and above globally in 2019 which is estimated to reach 1.5 billion by 2050. This growing geriatric demographic will continue driving the demand for bone and joint health supplements to maintain mobility and joint function in coming years.
PEST Analysis
Political: The government policies regarding nutrition labels and dietary supplement regulations will influence the demand for bone and joint health ingredients. The R&D funding and initiatives for preventive healthcare will promote the market growth.
Economic: Rising healthcare costs due to increasing aging population and burden of musculoskeletal disorders will drive the demand for cost-effective bone and joint health ingredients as a preventive measure. Growing income levels will increase the affordability of dietary supplements.
Social: Changing lifestyle with increasing sedentary jobs, less physical activity, and junk food consumption is contributing to the risk of bone and joint issues. The awareness about benefits of natural joint health ingredients in managing lifestyle diseases will augment the industry outlook.
Technological: Advancements in nanoencapsulation and self-emulsifying techniques help in improving the bioavailability of bone-strengthening ingredients like glucosamine, chondroitin, and collagen peptides. Development of highly soluble micro/nano particles for targeted delivery and substantiation of health claims will boost product launches.
The market in terms of value is concentrated in North America and Asia Pacific regions. North America, being an early adopter, holds the largest market share currently owing to rising health consciousness among consumers and growing geriatric population susceptible to musculoskeletal disorders. Asia Pacific is recognized as the fastest growing regional market for bone and joint health ingredients driven by increasing expenditures on modern lifestyle disease management in countries like China, Japan, and India.
The European market follows North America in terms of size and offers lucrative opportunities for players given the accelerating aging demographics and consumer trend towards preventive healthcare approach using dietary supplements and functional foods. On the other hand, Latin American countries are anticipated to emerge as a promising regional market with flourishing nutraceuticals industry over the coming years.
