New Delhi, Sept. 26, 2022 (GLOBE NEWSWIRE) — Supplements for overall bone and joint health Market is booming due to growing awareness of micronutrient deficiencies, increasing access to supplements, availability of multiple products, and increasing number of distribution channels.
A recent study conducted by the strategic consultancy and market research firm, BlueWeave Consultingrevealed that the global bone and joint health supplements market was worth USD 10.31 billion in 2021. The market is expected to grow at a CAGR of 9.2%, generating revenue of approximately USD 18.83 billion. ‘by the end of 2028. The key engine for the world’s growth Supplements for bone and joint health Market is the increased desire of the aging population for dietary supplements. Throughout the forecast period, the market for bone and joint health supplements is estimated to experience significant growth in revenue due to the aging baby boomer population and the increase in lifestyle disorders. life. Additionally, growing consumer interest in active living, increasing disposable income, and growing health awareness are other important drivers for the industry. However, high R&D investments and high cost of clinical trials are restraining the market growth.
Growing consumer awareness of micronutrient deficiencies
Growing consumer awareness of the prevalence and dangers of nutritional deficiencies. Additionally, as more and more people become aware of how nutritional deficiencies can be corrected through supplementation, the demand for products that promote bone and joint health will increase, further driving the growth of the market. More and more people are choosing healthier supplements because nutrition and health are directly linked. Middle class incomes are rising in several parts of Asia, Latin America and Africa, allowing consumers to spend more on dietary, nutritional and food supplements. This translates into lucrative opportunities for the global bone and joint health supplements market over the forecast period (2022-2028).
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Aging Population Supports Market Growth
The elderly population focuses on adapting to supplements specifically tailored to their needs to maintain good health and quality of life. As people age, they experience several changes, including psychological, physiological, and social, that affect the way they eat. The elderly population increasingly relies on individualized diets and routine meal selections. To maintain their overall health, aging populations in many countries have increased the demand for age-friendly food options with improved nutritional value.
Challenge: Regulatory influence
Many changes in the industry are driven by general changes in consumer trends. Regulations and requirements relating to nutrition obtained from food supplements are changing. These laws were created in response to changing standards of nutritional care. The FDA and FSSAI have introduced some of these rules. These rules apply to probiotic and prebiotic foods as well as food supplements and foods for special diets. The National Academy of Medicine’s Food and Nutrition Council has established recommended nutrient intakes and safe upper limits. The quality, efficacy and safety of bone and joint health supplements face regulatory hurdles. Regulations governing supplements, including vitamins and omega fatty acids sold in South Africa, ensure that every product is registered and approved by SAHPRA. The market as a whole could face serious obstacles as a result of these new restrictions.
Global market for bone and joint health supplements – By form
Based on form, the global bone and joint health supplements market is segmented into tablets, capsules, liquid, powder, and others. During the forecast period, the tablet segment is expected to grow at the highest CAGR. Due to the easy availability of various dosage regimens, 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 life compared to other forms of nutritional supplements, tablets are also preferred. The advantages 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 nutrient supplements in tablet form. For this reason, compress tablets are popular.
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Impact of COVID-19 on the Global Bone and Joint Health Supplements Market
To avoid COVID-19, international health agencies such as the World Health Organization (WHO) advise consumers to boost their immune system. Nutraceuticals with immune-boosting qualities, such as collagen, vitamins, and calcium, are expected to gain popularity. Due to the COVID-19 outbreak, people are embracing social distancing and following the trend of working from home or staying at home, which forces consumers to change their usual habits, such as caring more about their health. , resulting in an unprecedented level of supplement demand. Consumers’ need to take care of themselves is fueling the growth of bone and joint supplements. Customers went out more to hunt for these things during the shutdown, so the category grew. People are increasingly concerned about their health as the population grows.
Key players in the global bone and joint health supplements market include 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 leading players. The global bone and joint health supplements market is highly fragmented with the presence of several manufacturing companies in the country. Market leaders maintain their supremacy by investing in research and development, incorporating advanced technologies into their products and offering improved items to customers. Various tactics including strategic alliances, agreements, mergers and partnerships are used.
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The in-depth analysis of the report provides insights into the growth potential, upcoming trends, and statistics of the global Bone and Joint Health Supplements Market. It also highlights the factors driving the forecast of the total market size. The report promises to provide the global Bone and Joint Health Supplements market recent technology trends and industry insights to help decision makers take sound strategic decisions. In addition, the report also analyzes market growth drivers, challenges, and competitive dynamics.
- In December 2021, ADM has acquired Flavor Infusion International (FISA), a full-line supplier of flavors and specialty ingredients across Latin America and the Caribbean.
- In November 2021, Nature’s Bounty has launched jellybean vitamins that meet a variety of wellness needs.
|Years considered||Historical data – 2018-2021|
|Base year – 2021|
|Forecast – 2022 – 2028|
|Facts Covered||Revenue in billions of dollars|
|Product Service/Segmentation||By type, by distribution channel, by form, by target consumers, by region.|
|Key players||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 leading players.|
- Vitamin D
- Vitamin K
- Omega-3 fatty acids
- Glucosamine chondroitin
By distribution channels
- Pharmacies and parapharmacies
- Health and beauty stores
By target consumers
- Pregnant woman
- The elderly
- North America
- Asia-Pacific (APAC)
- Latin America
- Middle East and Africa (MEA)
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