Soaring Osteoporosis and Calcium Deficiency Drive Bone Health Supplement Market to US$38.6 Billion by 2034 | Future Market Industry, Inc.
A surge in the global aging population and the ease of access to bone health supplements through online platforms are driving sales across the United States, Japan, Germany, and India, contributing to a market growth rate of 7.8%, according to a recent research study.
NEWARK, Del., Nov. 21, 2023 /PRNewswire/ -- Bone Health Supplement Market Analysis by Tablets, Liquids, Capsules, and Powder Forms, Global Opportunity and Revenue Forecast 2024 to 2034
As per Future Market Insights' latest industry analysis, the global bone health supplement market is anticipated to attain a valuation of US$ 38,677.8 million by 2034 from US$ 19,523.9 million in 2024. The market is projected to surge at a CAGR of 7.8% in the assessment period 2024 to 2034.
The bone health supplement market is expanding due to the rising consumer awareness of age-related clinical concerns such as osteoporosis and calcium deficiency. It is set to be combined with an increasing tendency to spend on products that help people adopt a healthy day-to-day life, which will likely boost growth over the projection period.
Elderly people are concentrating on sticking to nutritional supplements that are specifically catered to their needs in order to keep their good health and quality of life. Aging, which brings about psychological, physiological, and social changes, has an impact on people's nutritional and food choices. Personalized nutritional consumption patterns and habitual food choices are becoming important to the aging population.
The expanding aging population in a handful of countries has boosted the demand for developing age-friendly dietary alternatives with higher nutritional content to support their health. It has led to an increasing demand for bone and joint health supplements, which further supports market growth.
With increased bone health and mobility issues, consumers have become more cognizant of healthy aging and disease prevention. Additionally, key players are focusing on novel product development with enhanced efficacy in terms of product sustainability, protection from side effects, and cost-efficiency.
Key Takeaways from Bone Health Supplement Market Study-
- The global bone health supplement market expanded at a CAGR of 6.3% in the historical period between 2019 and 2023.
- The United States dominated North America's bone health supplement market with a total share of about 89.4% in 2023.
- India is projected to display steady growth at a decent CAGR of 8.0% during the assessment period.
- Germany is set to exhibit a CAGR of 5.5% during the forecast period.
- The vitamins and minerals segment under ingredient type is expected to present high growth at a CAGR of 7.5% through 2034.
- Tablets held a total bone health supplement market share of 51.3% in 2023 in terms of form.
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"Rising initiatives by government bodies to promote nutrition awareness, as well as the increasing adoption of dietary supplements in daily routine, is set to propel sales of bone health supplements across the globe," says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
Competitive Landscape
The market for bone health supplements is fragmented, and it includes several regional, up-and-coming, as well as well-established competitors. Important players have started marketing campaigns to provide cutting-edge, novel skin care products with improved efficacy.
For instance,
- In February 2022, the new 154,697 square foot Global Business Services Center in Whitefield, India, which houses technology, a contact center, creative services, an innovation center, a quality laboratory, and a research and development facility, was formally opened by Herbalife Nutrition, a leading global nutrition company.
- In September 2020, Bayer acquired personalized vitamin company Care/of for US$ 225 million.
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Get More Insights into the Bone Health Supplement Market Study
Future Market Insights (FMI) offers a unique perspective and actionable insights on the bone health supplement market in its latest study, presenting a historical demand assessment of 2019 to 2023 and projections for 2024 to 2034. The global bone health supplement market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on the ingredients (vitamins and minerals, amino acids, botanical supplements, and others), form (tablets, liquids, capsules, and powder), and distribution channel (pharmacies, drug stores, health and beauty stores, specialty stores, and online stores), across seven key regions of the world.
About Healthcare Division at Future Market Insights (FMI)
Future Market Insights (FMI) facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you to devise innovation-driven trajectories for your business. Know more about our sector coverage here.
About the Author:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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