by Market Overview:
The global bone and joint health ingredients market size was valued at US$ 2,957.78 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 6.34% from 2023 to 2030.
This market presents immense opportunities. Bone and joint health ingredients are essential for promoting healthy bones and joints, preventing age-related disorders, and maintaining overall well-being.
Market Key Trends:
One of the key trends in the bone and joint health ingredients market is the increasing consumer awareness and demand for natural and organic ingredients. Consumers are shifting towards a healthier lifestyle and are more conscious about the quality, safety, and efficacy of the products they consume. This trend has led to a surge in demand for natural and organic bone and joint health ingredients, such as collagen peptides and calcium supplements derived from natural sources.
For example, consumers are now opting for collagen-based supplements to support joint health and reduce the risk of bone-related disorders. Collagen, a vital protein in connective tissues, plays a crucial role in maintaining joint flexibility and strength. As a result, collagen-based products are gaining popularity, leading to the growth of the bone and joint health ingredients market.
Porter’s Analysis:
– Threat of new entrants:
The bone and joint health ingredients market has a low threat of new entrants due to the presence of established players with strong brand reputations and high entry barriers, such as regulatory requirements and extensive research and development investments.
– Bargaining power of buyers:
Buyers in the bone and joint health ingredients market have moderate bargaining power. Although there are several suppliers available, limited alternatives exist for certain key ingredients, which can provide suppliers with some bargaining power.
– Bargaining power of suppliers:
The bargaining power of suppliers is moderate. In the bone and joint health ingredients market, suppliers generally have a wide array of ingredient options to offer. However, they may face challenges in meeting the increasing demand for sustainable and high-quality ingredients.
– Threat of new substitutes:
The threat of new substitutes in the bone and joint health ingredients market is relatively high. Alternative treatment options, such as drugs and invasive surgeries, can pose a potential threat to the market. However, the preference for natural and preventative approaches to maintain bone and joint health acts as a mitigating factor.
– Competitive rivalry:
The competitive rivalry in the bone and joint health ingredients market is moderately intense. The presence of key players with strong market shares and diverse product portfolios intensifies competition. Moreover, technological advancements and new product launches further contribute to the competitive landscape.
Key Takeaways:
1: The global bone and joint health ingredients market size was valued at US$ 2,957.78 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 6.34% from 2023 to 2030. This growth is primarily driven by the increasing aging population, rising awareness regarding bone and joint health, and the growing demand for natural and organic products. For instance, the rise in osteoporosis cases among the elderly population has fueled the demand for calcium and vitamin D supplements.
2: North America is anticipated to dominate the bone and joint health ingredients market due to the increasing prevalence of bone-related disorders, a large aging population, and heightened consumer awareness regarding bone health. However, the Asia Pacific region is expected to witness the highest growth during the forecast period. Factors such as a rising middle-class population, changing dietary patterns, and growing disposable incomes are driving the market’s growth in this region.
3: The key players operating in the global bone and joint health ingredients market include Synutra Inc., Darling Ingredients Inc., Archer Daniels Midland Company, BASF SE, Koninklijke DSM NV, Foodchem International Corporation, Glanbia PLC, Holista, Colltech Ltd, ESM Technologies LLC, Bergstorm Nutrition Inc., and Gelita AG. These players are focusing on product innovation, strategic partnerships, and mergers and acquisitions to gain a competitive edge in the market.
In conclusion, the bone and joint health ingredients market presents a promising outlook with increasing consumer demand for natural and organic products. As awareness about maintaining bone and joint health continues to grow, the market is poised for significant expansion. Integrating innovative ingredients and targeting untapped regions can unlock the immense potential of this market.
