Australia Bone And Joint Health Supplements Market Size & Outlook
Australia bone and joint health supplements market, 2018-2030 (US$M)
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Australia bone and joint health supplements market highlights
- The Australia bone and joint health supplements market generated a revenue of USD 48.4 million in 2023 and is expected to reach USD 89.8 million by 2030.
- The Australia market is expected to grow at a CAGR of 9.2% from 2024 to 2030.
- In terms of segment, vitamins was the largest revenue generating product in 2023.
- Omega-3 is the most lucrative product segment registering the fastest growth during the forecast period.
Bone and joint health supplements market data book summary
| Market revenue in 2023 | USD 48.4 million |
| Market revenue in 2030 | USD 89.8 million |
| Growth rate | 9.2% (CAGR from 2023 to 2030) |
| Largest segment | Vitamins |
| Fastest growing segment | Omega-3 |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Vitamins, Minerals, Collagen, Omega-3, Glucosamine |
| Key market players worldwide | Herbalife Ltd, GNC, The Bountiful Company, Amway Malaysia Holdings, Basf SE, Bayer AG, Glanbia PLC, NOW Foods |
Other key industry trends
- In terms of revenue, Australia accounted for 1.2% of the global bone and joint health supplements market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China bone and joint health supplements market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 346.9 million by 2030.
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Bone And Joint Health Supplements Market Scope
Bone And Joint Health Supplements Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia bone and joint health supplements market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to bone and joint health supplements market will help companies and investors design strategic landscapes.
Vitamins was the largest segment with a revenue share of 31.2% in 2023. Horizon Databook has segmented the Australia bone and joint health supplements market based on vitamins, minerals, collagen, omega-3, glucosamine covering the revenue growth of each sub-segment from 2018 to 2030.
In Australia, dietary supplements and vitamins made up more than half of the total revenue of complementary medicines in 2022. As per the latest Roy Morgan data, approximately 8.24 million Australians aged 14+ purchase vitamins, minerals, or supplements in an average span of 6 months. Furthermore, the burden of chronic bone conditions is increasing in Australia.
For instance, as per Arthritis Australia, about more than 3.6 million people in the country are suffering from arthritis, which is about 1 in every 7 Australians. Similarly, as per NCBI data, in 2021, about more than 4% of the Australian population suffered from osteoporosis due to the decreasing level of bone mass density, which further increases the risk of fractures.
Adoption of bone and joint health supplements helps maintain the mineral bone density, and thus, reduces the chances of osteoporosis and builds stronger bones. Furthermore, increasing market competition with the launch of new products further boosts the market growth in Australia.
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Our clientele includes a mix of bone and joint health supplements market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia bone and joint health supplements market, including forecasts for subscribers. This country databook contains high-level insights into Australia bone and joint health supplements market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia bone joint health supplements market report size, by product, 2018-2030 (US$M)
Australia Bone And Joint Health Supplements Market Share, 2023 & 2030 (US$M)
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