Bone and Joint Health Supplements Market Growth Outlook 2024

"The Business Research Company recently released a comprehensive report on the Global Bone And Joint Health Supplements Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The bone and joint health supplements market size has grown strongly in recent years. It will grow from $12.9 billion in 2023 to $14.06 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to quality assurance and safety standard, retail accessibility, medical recommendations, marketing and consumer education.

The bone and joint health supplements market size is expected to see strong growth in the next few years. It will grow to $20.3 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to healthcare cost concerns, focus on natural and organic ingredients, medical endorsements and recommendations, fitness and wellness trends, customized solutions. Major trends in the forecast period include innovation in formulations, sports and fitness trends, medical recommendations and endorsements.

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Market Drivers and Trends:

The growing aging population is expected to propel the growth of the bone and joint health supplements market going forward. The aging population refers to a demographic segment composed of individuals who are advanced in age, typically considered as being 65 years old or older, often characterized by specific health considerations and social needs associated with aging. Bone and joint health supplements are used in the aging population for maintaining bone density, improving joint function, reducing the risk of osteoporosis, pain management, and improving muscle health and nutrient absorption. For instance, in October 2022, according to the World Health Organization, a US-based specialized health agency, Globally, 1 in 6 people will be 60 or older by 2030, and there will be a double number of individuals in this age group (2.1 billion) by 2050. Additionally, for instance, in June 2021, according to the UK Parliament's House of Commons Library, a UK-based information resource, By 2043, there will be a rise in the senior population in the UK, which will make up 24% of the total population (17.4 million people). Therefore, the growing aging population is driving the growth of the bone and joint health supplements market .

Product innovations have emerged as a key trend gaining popularity in the bone and joint health supplements market. Many companies operating in the bone and joint health supplements market are focused on innovating new products to sustain their position in the market. For instance, in November 2021, The Nature's Bounty Co. a US-based brand of health and wellness products, including vitamins and supplements launched a jellybean vitamin line. These fruit-flavored, vegetarian jellybean vitamins don't use gelatin or artificial sweeteners. They are made to offer both adults and children a tasty and entertaining method to promote many elements of wellness. These jellybean vitamins are free of artificial sweeteners and tastes and are designed to assist the entire body on a regular basis. The purpose of these jelly bean vitamins is to offer vital vitamins and nutrients that promote general health, immunological function, vitality, and sleep .

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Major Key Players of the Market:

Nature's Bounty Incorporated, The Procter & Gamble Company, Amway Corporation, BASF SE, Archer Daniels Midland Company, Reckitt Benckiser Group plc, Pfizer Incorporated, Vita Life Sciences Limited, Glanbia plc, Nutramax Laboratories Consumer Care Incorporated, Koninklijke DSM N.V., Xtend-Life Incorporated, Bergstrom Nutrition Incorporated, BioScience Nutrition Incorporated, Herbs Nutriproducts Private Limited, Arazo Nutrition Incorporated, Vitawin International Holdings Limited, Pure Encapsulations LLC, Abbott Laboratories Incorporated, NutriScience Innovations LLC, Optimum Nutrition Inc., Rainbow Light Nutritional Systems Inc., Schiff Nutrition International Inc., Solgar Vitamin and Herb Co. Inc., Source Naturals Inc., Sports Research Corporation, Swanson Health Products Inc., Twinlab Consolidation Corporation, USANA Health Sciences Inc., Vitacost.com Inc.

Bone And Joint Health Supplements Market 2024 Key Insights:

• The bone and joint health supplements market size is expected to see strong growth in the next few years. It will grow to $20.3 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.
• Rising Osteoporosis Prevalence Sparks Surge In Bone And Joint Health Supplements Market
• Transformative Product Developments Surge In The Bone And Joint Health Supplements Market
• North America was the largest region in the bone and joint health supplements market in 2023

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