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| Bone And Joint Health Ingredients Market |
The global Bone and Joint Health Ingredients Market is estimated to be valued
at US$ 3,344.72 Mn in 2023 and is
expected to exhibit a CAGR of 6.3%
over the forecast period 2023 to 2030, as highlighted in a new report published
by Coherent Market Insights.
Market Overview:
Bone and joint health ingredients are widely used in supplements to promote
bone and joint health. These ingredients help reduce inflammation, ease joint
pain, and promote bone mineral density. Some key bone and joint health
ingredients are glucosamine, chondroitin, omega-3 fatty acids, calcium, and
collagen. These ingredients support cartilage repair, joint lubrication and
flexibility. With rising geriatric population and increasing incidences of
osteoporosis and arthritis globally, the demand for bone and joint health
supplements is growing significantly.
Market key trends:
The bone and joint health ingredients market is witnessing notable trends such
as rising demand for clean label and non-GMO bone and joint health ingredients.
Consumers are increasingly preferring bone and joint health supplements made
from natural and plant-based ingredients over synthetic ones. As a result,
manufacturers are focusing on sourcing bone and joint health ingredients from
natural sources and removing GMOs and artificial colors, flavors and
preservatives from their products. Another major trend is the increasing
popularity of multi-functional bone and joint health ingredients that provide
benefits beyond basic joint lubrication and mobility. For example, ingredients
that also aid in skin, heart and brain health. Manufacturers are developing
innovative ingredient blends to deliver such multi-functional wellness
benefits.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the Bone
And Joint Health Ingredients Market requires high investment for
R&D and regulatory approvals. Bargaining power of buyers: The bargaining
power of buyers is moderate as they have the option to switch to various bone
and joint health ingredients manufacturers. Bargaining power of suppliers: The
bargaining power of suppliers is moderate as the key raw materials for bone and
joint health ingredients are commoditized. Threat of new substitutes: The
threat of new substitutes is low as there are limited substitutes available for
bone and joint health ingredients. Competitive rivalry: Competition in the bone
and joint health ingredients market is high.
Key Takeaways
The global bone and joint health ingredients market is expected to witness high
growth, exhibiting CAGR of 6.3% over
the forecast period, due to increasing aging population and rising prevalence
of osteoporosis and arthritis.
Regional analysis: North America dominates the global bone and joint health
ingredients market and is expected to continue its dominance over the forecast
period. This is attributed to the increasing aging population suffering from
arthritis and osteoporosis in the U.S. and Canada.
Key players: Key players operating in the bone and joint health ingredients
market are Synutra Inc., Darling Ingredients Inc., Archer Daniels Midland
Company, BASF SE, Koninklijke DSM NV, Foodchem International Corporation,
Glanbia PLC, Holista, Colltech Ltd, ESM Technologies LLC, Bergstorm Nutrition
Inc., and Gelita AG. Archer Daniels Midland Company provides collagen peptides
under the brand name Gelita.
Read More: https://www.trendingwebwire.com/global-bone-and-joint-health-ingredients-market/