According to a new report published by UnivDatos Markets Insights, the Bone and Joint Health Supplements Market was valued at USD 10 billion in 2020 and is expected to grow at a CAGR of around 8% from 2022-2028. The analysis has been segmented into 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); Region/Country.
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The Bone and Joint Health Supplements market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Bone and Joint Health Supplements market. The Bone and Joint Health Supplements market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Bone and Joint Health Supplements market at the global and regional levels.
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Market Overview
The demand for the bone and joint health supplements market is rising due to the increasing prevalence of bone-related problems like osteoporosis, rheumatoid arthritis, etc. around the globe. For instance, in 2022, according to very wealth.com, More than 22% of American adults (over 52.5 million people) have arthritis or another rheumatic condition diagnosed by a doctor. 7.3% of people aged 18-44 have doctor-diagnosed arthritis; 30.3% of people aged 45-64; and 49.7% of those over 65, and by 2030, the number of people with arthritis (adults 18 years and older) is expected to rise to 67 million. Owing to these glaring statistics the demand for bone and joint health supplements is anticipated to grow in the forthcoming years as they are safe and help in making strong bones. Moreover, several innovations in the nutritional supplements sector are fueling the demand for the bone and joint health supplements market. Furthermore, the changing lifestyles also increasing the joint discomfort in the young generation is expected to drive the market for bone and joint health supplements market in the coming years.
Some of the major players operating in the market include 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 among others.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. COVID-19 has caused significant supply chain disruptions around the world, most notably in 2020. the outbreak of COVID-19 shifted the trend toward e-commerce. The increasing number of people opting for online platforms is significantly impacting the industry's growth. People becoming more concerned about health and fitness which helps the bone supplement market to propel in the pandemic situation.
The global Bone and Joint Health Supplements market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the distribution channel, the market is fragmented into pharmacies drug stores, specialty stores, online, and others. The pharmacy’s 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.
· 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’s. When menopause sets in, estrogen, 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.
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Bone and Joint Health Supplements Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)
· Rest of the World
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 (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. Geographically, 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.
The major players targeting the market include
· 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
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Bone and Joint Health Supplements Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Bone and Joint Health Supplements market?
• Which factors are influencing the Bone and Joint Health Supplements market over the forecast period?
• What are the global challenges, threats, and risks in the Bone and Joint Health Supplements market?
• Which factors are propelling and restraining the Bone and Joint Health Supplements market?
• What are the demanding global regions of the Bone and Joint Health Supplements market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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