Bone and Joint Health Ingredients is Estimated to Witness High Growth Owing to Opportunity for Joint and Bone Pain Relief

Bone and joint health ingredients play a crucial role in maintaining mobility and providing relief from joint and bone pain. These ingredients provide the body with essential nutrients to keep bones and joints strong, supple and flexible. Glucosamine, chondroitin, collagen, omega-3 fatty acids, and curcumin are some of the commonly used bone and joint health ingredients. They help in maintaining cartilage integrity, reducing inflammation, supporting joint lubrication and mobility. With rising geriatric population worldwide experiencing joint pains and age-related bone fractures, the demand for these ingredients is growing rapidly.

The global Bone and Joint Health Ingredients Market is estimated to be valued at US$ 9.2 billion in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity for joint and bone pain relief has been a major driver of growth for the bone and joint health ingredients market. According to studies, over 30% of world’s population over the age of 60 is affected by joint pains while the number is projected to double by 2050. With progression in age, risks of fractures and joint disorders like arthritis are also increasing steadily. Therefore, people are increasingly relying on bone and joint dietary supplements for relief from joint pains and maintaining bone health. This growing demand from joint pain sufferers and supplements manufacturers presents a lucrative opportunity for bone and joint health ingredient suppliers.

Porter’s Analysis

Threat of new entrants: The bone and joint health ingredients market requires high R&D investment and regulatory approvals to manufacture ingredients. This increases the entry barriers for new players.

Bargaining power of buyers: The bargaining power of buyers is moderate as bone and joint health ingredients are commoditized products available from multiple suppliers. However, larger buyers can negotiate on price and quality standards.

Bargaining power of suppliers: A few key players dominate the supply market for bone and joint health ingredients. This gives them higher bargaining power against manufacturers. Suppliers can influence prices.

Threat of new substitutes: New alternative ingredients for bone and joint health show potential as substitutes. However, regulatory acceptability and efficacy data validate existing ingredients.

Competitive rivalry: The market sees intense competition among major players. Players compete based on product differentiation, price, quality, and partnerships.

SWOT Analysis

Strengths: Bone and joint health ingredients have growing demand due to an aging population and health awareness. Key players have extensive R&D and manufacturing capabilities.

Weaknesses: High production costs and regulatory compliance make operations challenging for small players. Changing consumer preferences impact product adoption.

Opportunities: Rising income levels in developing nations will boost the market. New applications in nutraceuticals and functional foods present opportunities.

Threats: Stringent safety regulations impose compliance burden. Raw material price volatility and trade barriers impact profits. Competition intensifies with private labels.

Key Takeaways

The Global Bone And Joint Health Ingredients Market Size is expected to witness high growth during the forecast period due to the rising geriatric population globally, increasing incidence of osteoporosis and arthritis, growing health consciousness.

North America dominates the global market currently owing to the rising healthcare costs for bone diseases, growing number of hip and joint replacement surgeries, and availability of advanced treatment options.

Key players operating in the bone and joint health ingredients market are Koninklijke DSM NV, DSM Nutritional Products, BASF SE, Bioiberica SAU, Stratum Nutrition, NutraCeutical Ingredients Pvt. Ltd., Synutra, Inc., Rousselot BV, Royal DSM N.V.

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