Bone and Joint Health Supplement Market Demand and Growth Trends by 2034
Author : Archana Aher | Published On : 28 Mar 2024
According to the Future Market Insights’ latest report, global sales of bone and joint health supplements are forecast to total US$ 11,525.3 million in 2024. The market will record a CAGR of 6.8%, with total valuation reaching US$ 22,165.8 million by 2034.
The global bone and joint health supplement industry is experiencing significant growth, and the trend is set to persist through 2034. This is due to growing health awareness, increasing geriatric population, and escalating incidence of orthopedic diseases.
Consumers globally are becoming aware of the importance of bone and joint health and its impact on overall well-being. As a result, they are seeking various dietary supplements, thereby creating growth opportunities for the bone and joint health supplement market.
Bone and joint health supplements contain essential nutrients like calcium, vitamin D, glucosamine, chondroitin, and collagen. They are essential for maintaining joint function and strengthening bone integrity, making them popular among consumers.
The rising geriatric population across the world is positively impacting sales of bone and joint supplements. This is because older people are prone to bone and joint disorders, prompting them to spend huge amounts on bone and joint health supplements.
The market is witnessing high competition, prompting manufacturers of bone and joint health supplements to invest in novel ingredients like collagen peptides. This will also help them to stay relevant in the market and grab emerging opportunities.
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Key Takeaways from the Bone and Joint Health Supplement Market Report:
- The global bone and joint health supplement market value is forecast to total US$ 22,165.8 million by 2034.
- Based on form, the capsules segment is set to hold a prominent market share of 36.4% in 2024.
- By sales channel, the online pharmacies category will record a high CAGR of 8.6% through 2034.
- North America will retain its market dominance, holding a dominant value share of 32.2% by 2034.
- Sales in Japan are set to soar at a CAGR of 7.9% between 2024 and 2034.
"Evolving consumer preferences towards natural and herbal ingredients, willingness to spend more on premium bone and joint health supplements, and growing aging population will provide profitable opportunities for market participants." - Nandini Roy Choudhury, Client Partner at Future Market Insights
The bone and joint health supplement market has a diverse and dynamic competitive landscape. Nature's Bounty Co., NOW Foods, Pfizer Inc., Bayer AG, GlaxoSmithKline (GSK), GNC Holdings, Inc., and Reckitt Benckiser Group plc are few of the leading bone and joint health supplement manufacturers and suppliers listed in the report.
Players who will constantly launch new and improved products will likely succeed in this expanding and evolving industry. Players are also marketing their products to older people who are susceptible to bone and joint diseases as well as employing strategies like partnerships, distribution agreements, collaborations, celebrity endorsements, and acquisitions to stay ahead of this expanding market.
Recent Developments:
- In June 2020, Nestle Health Science and Bioiberica partnered to deliver innovative nutrition for joint health and mobility.
- In 2023, Voltaren unveiled two new non-prescription pain supplements for joint health and mobility.
Get More Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global bone and joint health supplement industry, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the bone and joint health supplement market based on product type (calcium supplements, vitamin D supplements, glucosamine, and chondroitin supplements, omega-3 fatty acid supplements, herbal supplements, multivitamins with minerals), form (capsules, tablets, liquids, powders, gummies, and soft gels), and sales channels (store-based and online pharmacies) across various regions.
