The bone and joint health ingredients such as glucosamine and chondroitin help in maintaining joint mobility and flexibility. Glucosamine is an amino sugar and a precursor to glycosaminoglycans that are found in the synovial fluid and cartilage matrix. It is produced naturally in the body and also derived from shellfish sources. Chondroitin sulfate is a natural constituent of joints and cartilage. These bone and joint health ingredients are used widely in dietary supplements, functional foods and beverages to support joint and bone health.
The global bone and joint health ingredients market is estimated to be valued at US$ 8 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023-2033, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increasing geriatric population is one of the major drivers propelling the growth of the bone and joint health ingredients market. As per the UN report, the global population aged 60 years and above is expected to reach 2.1 billion by 2050 from 962 million in 2017. With age, chances of developing joint disorders such as osteoporosis and arthritis increases significantly. Thus, the growing geriatric population base creates huge demand for bone and joint health supplements over the forecast period.
The other driver is growing consumer awareness regarding preventive healthcare. Consumers are more inclined towards maintaining health and flexibility of bones and joints. Dietary supplements containing glucosamine and chondroitin are widely advertised and promoted for their bone and joint health benefits. Increased spending on dietary supplements as a means to support joint and bone wellness is fueling the demand for bone and joint health ingredients in the market.
SWOT Analysis
Strength: Bone and Joint Health Ingredients such as calcium, collagen, glucosamine, and chondroitin support healthy bones and joints. They help maintain mobility and flexibility in joints. Clinical studies show that these ingredients can relieve symptoms of arthritis.
Weakness: The efficacy of some bone and joint health ingredients like glucosamine is debated. Some studies show little benefits. People with certain medical conditions like kidney or liver disease need doctor's advice before taking supplements.
Opportunity: Rising health awareness and aging population driving the demand. People are looking for natural remedies to support bone and joint health. Supplement makers can launch innovative products combining multiple clinically-tested ingredients.
Threats: Strict regulations for supplement quality compliance increases costs. Intense competition from local and global brands pressures profit margins. Negative publicity over product quality issues can impact brand image.
Key Takeaways
The Global Bone And Joint Health Ingredients Market Size is expected to witness high growth during the forecast period due to increasing health consciousness among consumers and prevalence of joint disorders. The market size is projected to reach USD 12 Billion by 2030, expanding at a CAGR of 13%.
Regional analysis: North America dominates the global market currently owing to rising geriatric population and higher adoption of dietary supplements. The Asia Pacific region is anticipated to be the fastest growing market in the coming years driven by growing middle class, changing lifestyles, and western influence on nutrition and wellness trends in countries like China, India and Japan.
Key players operating in the Bone and Joint Health Ingredients market are Rousselot, DowDuPont Inc., CHR. Hansen, DSM Nutritional Products, BASF, and Lonza Group. These companies enjoy a strong brand presence and are focusing on new product launches and acquisitions to strengthen market position and cater growing demand.
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