The global bone and joint health supplements market size is expected to reach USD 4.02 billion by 2030, according to a new study by Polaris Market Research. The report “Bone And Joint Health Supplements Market Share, Size, Trends, Industry Analysis Report, By Formulation (Capsules, Soft Gels, Tablets, Powders, Others); By Product; By Consumer Group; By Sales Channel; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
Major factors driving the industry growth include rising prevalence of joint-related ailments in geriatric population, increasing awareness of micronutrient deficiencies, and the rising prevalence of orthopedic illnesses. The industry is being driven by an increase in the majority of different nutritional deficiencies, increased access to products, and an increase in the number of distribution channels.
Due to the fitness businesses and also the millennial generation over the few years, it is increasing the need for regular active lifestyles. This demographic group is expected to see a rise in demand for the product as majority of the nutrient-products advised are a result of preventive measures.
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As there is a rising awareness among people regarding the advantages of supplementation to prevent nutritional deficiencies, the demand for products is expected to witness growth complementing industry growth. Rising consumer disposable income in several developing economies of Asia Pacific, Latin America, and Africa, is enabling consumers to spend more on dietary, nutritional, and food supplements complement the industry growth.
Due to social distancing and the growing popularity of work from home concept or staying in, as a result of the COVID-19 pandemic, there is shift in the consumer behavior. Increasing awareness among consumers pertaining to lifestyle-related issues has increased demand for the product to previously unheard-of levels.
Bone And Joint Health Supplements Market Report Highlights
- The vitamin segment accounted for largest revenue share in 2021. This is brought on by the growing popularity for healthy lifestyles, the rise in life expectancy, the popularity of leading active lives, and expanding adoption of healthy lifestyles.
- Based on formulation, the biggest revenue share was captured by the capsule segment in 2021. The availability of multiple product types in various encapsulations has boosted the bioavailability of active ingredients. Omega-3 fatty acids, multilayered or multi membrane encapsulations, and extended-release capsules for vitamins and minerals are just a few of the ingredients currently available in capsule formulations, which have helped the market growth.
- Geriatric population holds the largest revenue share among the consumer group. Higher consumption of bone and joint health nutrients by elderly population owing to prevalence of age-related ailments is expected to be the key factor for the segment domination.
- The bricks and mortar industry accounted for the largest revenue share in 2021. The rise in retail locations offering a broad range of products is one of the primary factors driving the segment’s growth.
- Major players operating in the industry include Amway, Archer Daniel Midland, BASF SE, Bayer AG, GNC Holding Inc., Life Extension, Millennium Herbal Care, Pfizer, Procter & Gamble, Reckitt Benckiser, Simply Supplements, Vita Life Sciences Ltd., Vitaco
Polaris Market Research has segmented the bone and joint health supplements market report based on, type, application, end-use, and region:
Bone And Joint Health Supplements, Product Outlook (Revenue – USD Billion, 2018 – 2030)
Bone And Joint Health Supplements, Formulation Outlook (Revenue – USD Billion, 2018 – 2030)
- Soft gels
Bone And Joint Health Supplements, Consumer Group Outlook (Revenue – USD Billion, 2018 – 2030)
- Pregnant Women
- Geriatric Population
Bone And Joint Health Supplements, Sales Channel Outlook (Revenue – USD Billion, 2018 – 2030)
- Bricks and Mortar
- Direct Selling
- Health Food Shops
- Hyper Markets
- Super Markets
Bone And Joint Health Supplements, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa