Global Glucosamine Market is expected to reach USD 757.3 million by 2022. Glucosamine is a natural compound found in tough tissue that is cartilage, which cushions joints. People use it as a supplement to treat diseases like osteoarthritis and arthritis. It is mainly extracted from shells of shellfish to make dietary supplements; whereas its synthetic form is made in laboratories. The Glucosamine Market is estimated to grow at a significant CAGR of 8.4% over the forecast period as the scope and its applications are rising enormously across the globe.
Growing occurrence of chronic diseases like obesity, diabetes, and cancer and high demand from pharmaceutical industry are documented as major factors of Glucosamine Market that are estimated to enhance the growth in the years to come. However, high cost of glucosamine and presence of alternatives like fish oils, omega 3 fatty acid, and collagens are the factors that may restrain overall market in the coming years. Glucosamine industry is segmented based on product type, form, application, and region.
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Glucosamine sulfate, Glucosamine hydrochloride, and N-acetyl glucosamine are the product type that could be explored in Glucosamine in the forecast period. Glucosamine sulfate accounted for the substantial market share of Glucosamine and is estimated to lead the overall market in the coming years. This may be because of high demand from pharmaceutical industries to treat arthritis.
Several forms of Glucosamine like gel, powder, capsules, liquid, and tablets could be explored in Glucosamine in the forecast period. The market may be categorized based on applications like dairy products, nutritional supplements, food and beverages, and others that could be explored in the forecast period. Nutritional supplements sector accounted for the substantial market share of Glucosamine and is estimated to lead the overall market in the coming years. This may be because of rising demand for dietary supplements for maintenance of bone and joint.
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The key players of Glucosamine Market are Triarco Industries Inc., Alcan Chemical Division, Synasia Inc., Alfa Chem, Simpy Supplements, Cargill Inc., Schiff Nutrition International Inc., Fabrichem Inc., Nutrilite, Golden Shell Biochemical Co Ltd., Nutraceutix Inc., Koyo Chemical Company Ltd., and Marine Biochemical Co Ltd. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
Glucosamine Application Outlook (Volume, Tons, Revenue, USD Million, 2012 – 2022)
• Nutritional supplements
• Food &beverages
• Dairy products
Glucosamine Regional Outlook (Volume, Tons, Revenue, USD Million, 2012 – 2022)
• Asia Pacific