Market Leaders : Bayer AG and Procter & Gamble are focusing on Partnerships, Acquistions, and investment Strategies to Strengthen their Market Postion in Bone & Joint Health Supplements Market
The global bone & joint health supplements market is estimated to be valued at USD 11.7 billion in 2022. It is projected to reach USD 17.6 billion by 2027, recording a CAGR of 8.5% during the forecast period.
Increasing awareness regarding nutrition and healthy lifestyles is projected to drive the global bone & joint health supplements market. Though the ongoing pandemic has brought it to light, it is widely known that having a healthy immune system can help reduce the risk or severity of diseases and infections. It is also a key factor that can enhance the body's natural defenses and immunity when combined with proper nutrition. As people become more conscious of holistic wellbeing, the demand for immunity-boosting products has increased significantly. People are increasingly shifting to herbal supplements and other dietary supplements to address their health concerns.
Key players in this market include Bayer AG(Germany), Procter & Gamble (US), Amway (US), Basf SE (Germany), Archer Daniels Midland (US), Reckitt Benckiser (UK), Pfizer (US), Vita Life Sciences Ltd (Australia), Arazo Nutrition (US), Nature’s Sunshine Products, Inc (US), (France), and Glanbia Plc (Ireland).
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Bayer is engaged in the manufacturing and distribution of products in the areas of healthcare and nutrition. The company operates through three major business segments- Crop science, pharmaceuticals, and consumer health. It offers bone and joint health supplements under its consumer health segment. It offers bone and joint health supplements through its brands Citracal which offers products in the form of caplets and gummies. The company has its presence in more than 160 countries, globally, and operates through its principal sites in the North American and Asia Pacific regions.
Procter and Gamble engages in the provision of consumer packaged goods. The company operates through five segments such as beauty, grooming, healthcare, fabric and home care, baby feminine and family care. The company manufactures bone and joint health supplements under its healthcare segment. The company contributes a huge chunk of its revenues in research and development, the cost incurred were USD 1.9 billion in 2021. The company sells its products in more than 180 countries and territories through numerous channels.
Amway is one of the largest manufacturers of nutrition and personal care products. It offers its product through the nutrition, beauty, home, energy and sports segments. The company has brands such as Nutrilite, Artistry, Attitude, Satinique, and Dynamite. It offers bone and joint health products, such as vitamins and supplements, under the brand Nutrilite. Nutrition segment accounted for a share of 54% of the Amway’s market in 2019 whereas beauty & personal care were 25% in the same year. It holds more than 800 global patents. The company has a presence in over 100 countries across North America, South America, Europe, Africa, and Asia Pacific.
Related Reports:
Bone & Joint Health Supplements Market by Type (Vitamin D, Vitamin K, Calcium, Collagen, Omega 3-Fatty Acid, Glucosamine-Chondroitin), Distribution Channels, Form (Tablets, Capsules, Liquid, Powder), Target Consumers and Region - Global Forecast to 2027
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