Bone & Joint Health Supplements Market by Type (Vitamin D, Vitamin K, Calcium, Collagen, Glucosamine-Chondroitin, Omega-3 Fatty Acids, and Others), Form (Tablets, Capsules, Liquid Powders, and Others), Distribution Channel (Supermarkets/Hypermarkets, Pharmacies & Drug Stores, Healthy & Beauty Stores, and Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 12.0 billion mark in 2022 and is expected to hit US$ 20.0 billion by 2030, recording a CAGR of 8.0% during the forecast period.
The rising aging population boosts the consumption of bone & joint health supplements
The World Population Prospects report in 2019 states that, by 2050, one in six people globally will be over age 65 (16%), up from one in 11 in 2019 (9%). With declining fertility and increasing longevity being the impactful drivers of population aging worldwide, international migration has also contributed to changing population age structures in some countries and regions. Such demographic trends are poised to boost demand for healthy aging supplements as there is an aging population worldwide with good disposable income levels in both developed and emerging markets seeking preventive strategies and supplements to live longer and healthier lives. Further, with consumer awareness of healthy aging and disease prevention resulting in increasing bone health and mobility concerns, there is accelerating demand for supplemental nutrition solutions aligning with the nutritional needs of aging consumers. Such factors are responsible for the growth of the global bone & joint health supplements market during the forecast period. The tablet segment is expected to pace up with the rising adoption among the young generation. Further, the segment is also expected to gain traction during the forecasted year.
Within the report, the market is segmented into type, form, distribution channel, and geography. On the basis of type, the market is segmented as vitamin D, vitamin K, calcium, collagen, glucosamine-chondroitin, omega-3 fatty acids, and others. By form, the market is segmented as tablets, capsules, liquid powders, and others. By distribution channel, the market is segregated as supermarkets/hypermarkets, pharmacies & drug stores, healthy & beauty stores, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Hospitals recommend the adoption of ambulatory EHR approval driving market growth.
By end user, the hospital segment accounts for the largest market share of the ambulatory EHR market during the forecast period. This is mainly attributed to rising patient emphasis on timely and effective treatment and the rising number of diagnostic and surgical procedures carried out in hospitals. For instance, the HealthIT.gov report states that, as of 2019, about three-quarters of office-based physicians (72%) and nearly all non-federal acute care hospitals (96%) had adopted a certified EHR 2019. Such factors account for the maximum share of the hospital segment, ultimately driving the overall market growth during the forecast period.
The tablets form segment will boosts the growth of bone & joint health supplements market.
The tablet form intended for bone & joint health supplements is highly consumed owing to the easy availability of various dosage patterns, ease in packaging techniques, storage, and cost-effectiveness. For example, Omega-3-fatty acids tablet forms are largely consumed intended for bone & joint health supplements. Also, tablets are preferred over other types of nutritional supplements owing to the longer shelf life associated with the product. Therefore, a wide range of nutritional supplements is easily incorporated into tablet form, among which compressed tablets are more popular.
Recent strategic developments in bone & joint health supplements market
The bone & joint health supplements market has undergone several significant developments, and a few of these have been mentioned below:
- In February 2022, Amway announced launching of nutrition supplements in trendy, tasty, in convenient and simplified formats like flavorful gummies and mouth dissolving jelly strips under flagship brand Nutrilite.
- In November 2020, Bayer, announced acquisition with Care/of providing a majority ownership in the privately owned personalized, direct-to-consumer nutrition company. The acquisition enhances Bayer's strategic business objectives by strengthening the company's presence in the high-growth area of personalized nutritionals. Also, the acquisition commitment to self-care accelerates understanding of personalized nutrition and advanced digital capabilities.
The bone & joint health supplements market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Bayer AG, Procter & Gamble, Amway , Glanbia plc , Wellbeing Nutrition, Vitalife Ltd, BASF SE , ADM, Kerry Group plc, and NutriGold Inc. are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Bone & joint health supplements service providers
- Bone & joint health supplements related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- End users of Cold pain therapy
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Type:
- Vitamin D
- Vitamin K
- Calcium
- Collagen
- Glucosamine-Chondroitin
- Omega-3-Fatty Acids
- Others
- Form
- Tablets
- Capsules
- Liquid Powders
- Others
- Distribution Channel:
- Supermarkets/Hypermarkets
- Pharmacies & Drug Stores
- Healthy & Beauty Stores
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Bayer AG
- Procter & Gamble
- Amway
- Glanbia plc
- Wellbeing Nutrition
- Vitalife Ltd
- BASF SE
- ADM
- Kerry Group plc
- NutriGold Inc.
Companies profiled
- Bayer AG
- Procter & Gamble
- Amway
- Glanbia plc
- Wellbeing Nutrition
- Vitalife Ltd
- BASF SE
- ADM
- Kerry Group plc
- NutriGold Inc.