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Bone and Joint Health Supplements Market Segmented By Soft Gels/Pills, Powder, Liquid Form, for Men, Women, Senior Citizen with Vitamins and Minerals, Amino Acids, Botanical Supplements Ingredient Type
The global bone and joint health supplements market is expected to witness substantial growth during the forecast period. Market growth is primarily driven by growing demand for dietary supplements from the geriatric population. The bone and joint health supplements market is expected to witness significant revenue growth over the forecast period, owing to a rise in the population of baby boomers along with increasing lifestyle diseases.
The market was valued at US$ 21,323.8 Mn in the year 2017, while by the end of 2026, the global market for bone and joint health supplements is likely to reach a valuation of US$ 41,458.9 Mn, expanding at a CAGR of 7.7% during the projected period of eight years.
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Among the ingredient types, the vitamins & minerals segment is expected to register a healthy CAGR of 7.6% during the forecast period, and is expected to be the most attractive segment in the global bone and joint health supplements market over the forecast period.
This segment is expected to account for a value share of more than 42.4% in 2017. The segment is estimated to be valued at US$ 9,035.3 Mn by 2017 end and is expected to reach a value of US$ 17,430.7 Mn by the end of 2026, creating an absolute $ opportunity of close to US$ 605.0 Mn in 2017 over 2016, and an incremental $ opportunity of nearly US$ 7,721.7 Mn between 2018 and 2026.
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Get a Customized VersionIn the recent past, there has been a steady increase in incidences of lifestyle diseases due to hectic schedules as well as changing lifestyle patterns. Thus, consumers are taking preventive measures for reducing the effects of lifestyle diseases.
Degenerative joint disease is a most common type of arthritis. Hence, bone and joint health supplements should be consumed to prevent and reduce the effects of such diseases. These supplements also contain amino acids and vitamins as ingredients which control blood pressure. This is expected to drive the growth of the bone and joint health supplements market.
Rising health awareness and increasing disposable income has influenced consumers to adopt healthy lifestyles, complemented by dietary supplements. To capitalize on this trend, companies are focused on launching new dietary supplements to prevent diseases, treat nutritional deficiencies, and also to enhance general wellbeing of consumers. Also, with rising disposable income and a growing awareness about health, consumers are spending on such dietary supplements in order to keep themselves fit and healthy.
At present, Brazil is expected to be the third largest healthcare market in the world behind the U.S. and China. The baby boomers population in Brazil is growing three times faster than in the U.S. An increasing baby boomers population in Latin America leads to growing concerns about arthritis joint pain. As a result, the bone and joint health supplements market is rapidly growing in the developed as well as developing countries.
With the increasing diseases such as osteoarthritis, rheumatoid arthritis, and arthritis related conditions in the baby boomers population, manufacturers are developing new health supplements in the form of powder and liquid on a wide scale in order to strengthen the bones of consumers. Hence, this population is significantly expected to drive the bone and joint health supplements market in the near future.
The research report on the global bone and joint health supplements market includes an in-depth analysis on each segment of the entire market. The market segmentation covers ingredient form, end user, distribution channel, ingredient type, and region.
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