Bone and Joint Health Ingredients Market Poised to Register High Growth due to Rising Geriatric Population
The bone and joint health ingredients market has been gaining traction over the past few years owing to the health advantages offered by these ingredients. These ingredients play an instrumental role in maintaining bone quality, joint mobility and flexibility. They help in reducing inflammation and slowing down progression of joint diseases like arthritis. Some of the commonly used bone and joint health ingredients are glucosamine, chondroitin, omega-3 fatty acids, collagen, calcium, boron, magnesium and vitamin D. These ingredients find wide applications in dietary supplements, functional food & beverages as well as animal feed.
The global bone and joint health ingredients market is estimated to be valued at US$ 3853.12 Bn in 2024 and is expected to exhibit a CAGR of 13.% over the forecast period 2024 to 2031.
Growing geriatric population across regions is the primary driver as older population is more prone to bone and joint disorders like osteoporosis and osteoarthritis. Also, changing lifestyle, sedentary jobs and obesity are contributing significantly to the rising number of bone and joint health issues.
Key Takeaways
Key players operating in the bone and joint health ingredients market are ABB Ltd., Electricity Coordinating Center Ltd., Siemens AG, Energy Exemplar, Atos SE, General Electric Company, Unicorn Systems, ETAP/Operation Technology, Inc., Operation Simulation Associates, Inc., Schneider Electric DMS NS, PSI AG, and Artelys SA.
Key opportunities in the market include new product launches, innovative formulations and investment in R&D for developing novel plant-based bone and joint health ingredients. For instance, omega-3 supplements containing DHA and EPA from seaweed and algal oil are gaining traction.
Globally, Asia Pacific and North America are the largest and fasted growing markets for Bone And Joint Health Ingredients Market Growth driven by increasing health consciousness. Whereas, European market is expected to witness steady growth owing to rising health supplement consumption among aging population. Key players are expanding their geographical footprint through collaborations with regional players.
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