Bone and Joint Health Supplements Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Forms (Soft Gels/Pills, Powder, Liquid, Others); Ingredients Type (Vitamins & Minerals, Amino Acids, Botanical Supplements, Others); Distribution Channel (Pharmacies Drug Stores, Specialty Stores, Online, Other); End-User (Men, Women, Children); and Region/Country
The bone and joint health supplements market is expected to register a CAGR of approx. 8% over the period of 2022-2028. Bones and joint health ingredients such as collagen, calcium, magnesium, and chondroitin are considered essential compounds. These ingredients are used in functional foods to increase their beneficial effects. Bone and joint health ingredients aid in pain relief and joint and bone health by providing prebiotic fiber, vitamins such as vitamin D and vitamin K, calcium, and soy isoflavones. These bone and joint health ingredients aid in the flexibility and strength of the body’s joints and bones. The growing demand for bone and joint health supplements can be attributed to the rise in the demand for nutritional supplements such as vitamin D, calcium, etc. across the globe. The increasing focus of the market players on the development of joint health supplements with different compositions is likely to aid the growth of the market. For instance, In November 2021, Nature’s Bounty launched jelly beans vitamins that cater to a variety of wellness needs. Owing to the glaring statistics due to sedentary lifestyles there is a rise in joint discomfort among the growing population across the globe is leading to the growing demand for bone and joint health supplements and would contribute to the growth of the market in the forthcoming period as well. Furthermore, the bone and joint health supplements market is anticipated to grow on account of the increase in awareness regarding micronutrient deficiencies and a growing number of bone and joint-related issues among the geriatric population. However, some of the restraints in the market including the high cost of these healthy ingredients are impeding the growth of this market all over the world.
Bayer AG, Procter & Gamble Co, Amway India Enterprises Pvt. Ltd., BASF SE, Archer-Daniels-Midland Co, Pfizer Inc, Reckitt Benckiser Group Plc, Vita Life Sciences Limited, Arazo Nutrition, Glanbia plc are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst form, the soft gels/pills category accounted for the significant share in the market in 2020”
Based on the forms, the bone and joint health supplements market is segmented into soft gels/pills, powder, liquid, and others. The soft gels/pills segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. Pills are widely consumed on account of the easy availability of various dosage patterns, easy packaging techniques, storage, and cost-effectiveness. Additionally, soft gels/pills are also preferred in comparison to other types of nutritional supplements due to the high shelf life associated with them
“Amongst ingredient type, the vitamins & minerals category is expected to witness considerable CAGR during the forecast period”
Based on the ingredient type, the market is fragmented into vitamins & minerals, amino acids, botanical supplements, and others. The vitamins & minerals segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the growing adoption of healthy lifestyles, increasing life expectancy, and rising focus on active lifestyles. Also, the increasing consumption of vitamin D supplements to reduce the risk of bone fracture is impelling the market growth. Additionally, the growing adoption of mineral supplements to manage conditions such as osteoporosis and osteoarthritis is likely to aid the growth of the segment.
“Amongst distribution channels, the pharmacies drug stores category is expected to witness considerable CAGR during the forecast period”
Based on the distribution channel, the market is fragmented into pharmacies drug stores, specialty stores, online, and others. The pharmacies drug stores segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the rising number of pharmacy stores selling supplements for bone and joint health with a wide variety of product types of different brands. In, addition, the companies are investing in the opening of stores to reach a larger population base and meet the consumer demand, which is further contributing to the industry growth.
“Amongst end-users, the women category is expected to witness considerable CAGR during the forecast period”
Based on the end-users, the market is fragmented into men, women, and children. The women segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. Women’s bones are smaller and thinner than men. When menopause sets in, oestrogen, a hormone in women that protects bones, begins to drop off quickly, leading to bone loss due to which bone supplements are necessary for women and likely to boost the growth of the segment. The growing rate of osteoporosis among the women and geriatric population has raised the demand for calcium supplements which boosts the demand of the bone supplement market for women.
“North America to witness significant growth during the forecast period”
For a better understanding of the market dynamics of the bone and joint health supplements market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the bone and joint health supplements industry owing to the high demand from the elderly population due to joint discomfort and the increasing health-conscious population and their inclination toward functional food and beverages.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|Research Process of the Bone and Joint Health Supplements Market
|Research Methodology of the Bone and Joint Health Supplements Market
|IMPACT OF COVID-19 ON THE BONE AND JOINT HEALTH SUPPLEMENTS MARKET
|GLOBAL BONE AND JOINT HEALTH SUPPLEMENTS MARKET REVENUE (USD BN), 2020-2028F
|Vitamins & Minerals
|Pharmacies Drug Stores
|Rest of North America
|Rest of Europe
|Rest of Asia-Pacific
|Rest of World
13 BONE AND JOINT HEALTH SUPPLEMENTS MARKET OPPORTUNITIES
14 BONE AND JOINT HEALTH SUPPLEMENTS MARKET TRENDS
|Demand Side Analysis
|Supply Side Analysis
16 VALUE CHAIN ANALYSIS
|Porter’s Five Forces Analysis
|Procter & Gamble Co
|Amway India Enterprises Pvt. Ltd.
|Reckitt Benckiser Group Plc
|Vita Life Sciences Limited
Research Methodology for the Global Bone And Joint Health Supplement Market Analysis (2022-2028)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global bone and joint health supplements market were the three major steps undertaken to create and analyze the adoption of bone and joint health supplements in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global bone and joint health supplements market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the bone and joint health supplements market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the bone and joint health supplements market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as the form, ingredient type, distribution channel, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the bone and joint health supplements market. Further, we conducted factor analysis using dependent and independent variables such as an increasing prevalence of bone-related diseases such as osteoporosis, rheumatoid arthritis, etc. globally. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the bone and joint health supplements market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global bone and joint health supplements market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the bone and joint health supplements market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global bone and joint health supplements market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global bone and joint health supplements market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of form, ingredient type, distribution channel, and end-users in the global bone and joint health supplements market.
The main objective of the Global Bone and joint health supplements Market Study
The current & future market trends of the global bone and joint health supplements market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the bone and joint health supplements market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of form, ingredient type, distribution channel, and end-users.
- Define and analysis of the regulatory framework for the bone and joint health supplements market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the bone and joint health supplements market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the bone and joint health supplements market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry