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Aging
Population, Heightened Consumer Awareness
propel U.S. Bone and Joint Health
Ingredients
MOUNTAIN VIEW, Calif., Sept. 3 /PRNewswire/
-- An expanding aging population and
increased consumer awareness boosts growth
for the U.S. bone and joint health
ingredients market. Consumers increasingly
seek supplements and functional foods that
enhance their wellness quotient and have
strong scientific backup.
The rise in the incidence of osteoporosis
and osteoarthritis reinforces the need for
well-researched ingredients that deliver
tangible advantages.
Osteoporosis and osteoarthritis spread at an
alarming rate in the U.S., affecting nearly
44 million and 34 million people,
respectively.
The estimated cost of osteoporosis-related
fractures was estimated at $19 billion in
2005, and it is projected to reach $25.3
billion in 2025.
New analysis from Frost & Sullivan (http://www.food.frost.com/),
U.S. Bone and Joint Health Ingredients
Market, finds the market earned revenues of
over $178.4 million in 2008 and estimates to
reach $246.4 million in 2015.
The study offers individual market forecasts
for calcium, prebiotics, soy isoflavones,
glucosamine, and chondroitin sulfate. In
addition, it provides qualitative analysis
of ingredients such as vitamin D, methyl
sulfonyl methane (MSM), hyaluronic acid,
collagen, and other botanicals positioned
for bone and joint health benefits.
If you are interested in a virtual brochure,
which provides a brief synopsis of the
research and a table of contents, then send
an e-mail to Johanna Haynes, Corporate
Communications, at
johanna.haynes@frost.com, with
your full name, company name, title,
telephone number, company e-mail address,
company website, city, state and country.
Upon receipt of the above information, a
brochure will be sent to you by e-mail.
"Traditionally, bone health supplements were
predominantly targeted to women and
individuals above 60 years of age," says
Frost & Sullivan Research Analyst Arthi.V.
"However, this target group is widening,
with an increasing number of men and younger
adults being diagnosed with osteoporosis or
at high risk due to low bone mass."
The National Institute on Aging reported
that in the U.S. more than two million men
have osteoporosis, with over three million
at high risk of contracting this disease.
The prominent competitive factors in the
U.S. bone and joint health ingredients
market include price, quality, distribution
efficiency, ability to provide a point of
differentiation through novel ingredient
combinations, and value-added services that
include assistance in product formulation
and regulatory support.
The ongoing economic slowdown is a key
factor affecting the food and beverage
industry.
While the average share of consumers' food
budget relative to their total income
increases, there is a shift from lavish
spending to a more conservative purchase
pattern.
Consumers move away from specialty products
and opt for value alternatives.
Tight financial resources, however, reduce
manufacturer spending on product innovation
at the ingredient and end-product level.
Furthermore,
the U.S. bone and joint health ingredients
market faces stiff competition from Asian
manufacturers in certain market segments
such as glucosamine, chondroitin sulfate,
hyaluronic acid, and isoflavones.
These low-cost alternatives have narrowed
the margins for local manufacturers.
The U.S. market is already highly price
sensitive, and competition from Asian
manufacturers amplifies this price
sensitivity.
In addition, there is a growing threat from
alternative ingredients, particularly in the
joint care segment.
Glucosamine and chondroitin sulfate are
established in this sector, but newer
ingredients are positioned for joint health
benefits.
The market is also confronted with issues
concerning ingredient purity.
"Maintaining high quality standards will
enable manufacturers to gain consumer
confidence and loyalty," states the analyst.
"This will also guarantee the steady demand
for existing ingredients despite the
widening array of alternatives in the
market."
U.S. Bone and Joint Health Ingredients
Market is part of the Food and Beverage
Ingredients Growth Partnership Services
program, which also includes research in the
following markets: The European Bone & Joint
Health Ingredients Markets, U.S. Prebiotics
Market, and European Prebiotics Market.
All
research services included in subscriptions
provide detailed market opportunities and
industry trends that have been evaluated
following extensive interviews with market
participants.
Frost & Sullivan, the Growth Partnership
Company, enables clients to accelerate
growth and achieve best in class positions
in growth, innovation and leadership.
The company's Growth Partnership Service
provides the CEO and the CEO's Growth Team
with disciplined research and best practice
models to drive the generation, evaluation,
and implementation of powerful growth
strategies.
Frost
& Sullivan leverages over 45 years of
experience in partnering with Global 1000
companies, emerging businesses and the
investment community from more than 35
offices on six continents.
To join our Growth Partnership, please visit
http://www.frost.com/.
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