global bone and joint health ingredients market is projected to grow with a significant growth rate of 6.5% from 2019 to 2024 and reach a market value of USD 4245.4 million by the end of 2024
— The bone & joint health ingredients market has been rising pervasively over the past couple of years, witnessing colossal consumption of these products. Increasing adoption of bone & joint health ingredients by pharmaceuticals and nutraceuticals companies to treat various metabolic bone diseases is a key driving force behind the growth of the market.
According to Market Research Future (MRFR), the global bone and joint health ingredients market would scale up to a valuation of USD 4245.4 MN by the end of 2024. In its recently published analysis, MRFR also asserts that the market would register a CAGR over 6.5% throughout the forecast period (2019 – 2024). Increasing adoption of adult nutrition in developing countries due to the heady lifestyle is contributing to the market growth.
Further, the growing demand for bone and joint health ingredients in functional food & beverages and dietary supplements is supporting the growth of the market. The market hugely depends on the aging population that is highly susceptible to bone injuries and fractures. Furthermore, the aging population is one of the most significant target segments for bone and joint health ingredients manufacturers.
On the other hand, factors, such as the high costs related to the extraction and manufacturing process of these ingredients are impeding the growth of the global bone and joint health ingredients market.
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Bone and Joint Health Ingredients Market – Competitive Analysis
Highly competitive bone and joint health ingredients market appears fragmented due to the presence of many large and small players. Players compete based on portfolio, product differentiation, and pricing. The competitive strength of these players is dependent on, product precision, product pricing, product reliability, and versatility largely. The market is expected to witness intensifying competition owing to the expected improvement in the line of products, services, and innovations.
Players leading the global bone and joint health ingredients market include Synutra, Inc. (US), Royal DSM NV (Netherlands), Archer Daniels Midland Company (US), BASF SE (Germany), DuPont de Nemours, Inc. (US), Rousselot (Netherlands), Waitaki Bio (New Zealand), Glanbia PLC (Ireland), Koninklijke DSM NV (Netherlands), Holista Colltech Limited (Australia), Bioiberica SA (Spain), Bergstorm Nutrition Inc. (US), Cargill Incorporated (US), Holista Colltech Limited (Australia), and ESM Technologies LLC. (US), among others.
Bone and Joint Health Ingredients Market – Segmentations
The report segments the market into three key dynamics to widen the scope of understanding,
By Ingredient Type : Collagen, Calcium, Glucosamine, Magnesium, Chondroitin, and Vitamins, among others.
By Application : Food & Beverages, Pharmaceuticals, and Nutraceuticals & Dietary Supplements, among others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
Bone and Joint Health Ingredients Market – Geographical Analysis
North America would retain its dominance over the Global Bone And Joint Health Ingredients Market throughout the forecast period. Growing demand from the middle-aged and geriatric populaces to improve bone and joint health is a crucial factor driving the regional market growth. Consumers in the region spend more on preventive measures rather than the treatment, which impacts the market growth, positively, creating tremendous market demand.
There has been a robust demand for functional and fortified foods that elevates the overall bone health, which, as a result, drives the regional market growth. Also, well-spread awareness among increased consumer and the aging population are propelling the growth of the regional bone and joint health ingredients market.
The Asia Pacific region is another sizable market for bone and joint health ingredients globally. The region would register the highest growth rate throughout the forecast period due to the rising health care expenditure and the augmenting demand for bone and joint health ingredients among the aging population. Also, increasing numbers of media advertisement and campaigns are further fostering the market growth in the region, creating awareness about bone and joint health ingredients. Furthermore, broader applications of the products by industries including food & beverages and pharmaceutical & nutraceutical is boosting the regional market share.
Innovation/Industry/ Related News:
April 04, 2019 ---- Gencor Pacific Organics India Pvt. Ltd., a leading global provider for botanical ingredients for supplementation needs, announced the development for endocannabinoid-like molecule for joint health and sports recovery.
Palmitoylethanolamide is an endocannabinoid-like molecule with potent anti-inflammatory properties, can offer formulations possibilities for new joint health and sports recovery ingredients, and an alternative to CBD (cannabidiol). Interest in the endocannabinoid system is higher. Consumer demand for CBD products is growing continually, despite FDA’s repeated statements that CBD is not recognized as a legal dietary ingredient.
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