The global glucosamine market is expected to reach USD 757.3
million by 2022, according to a new report by Grand View Research, Inc. Growing
application scope of the product in the manufacturing of nutritional
supplements which aid in the prevention of osteoarthritis among consumers is
expected to fuel demand over the next seven years.
Increasing number of
vegan consumers particularly in developed countries including U.S. is expected
to be another driver for the industry over the forecast period. The product is
primarily manufactured from crustaceans including shrimp and crab; however,
Cargill and Cyanotech have pioneered vegetarian glucosamine by extracting the
ingredient from ‘aspergillus niger’ fungi.
Increasing population,
rapidly growing healthcare industry and consumer awareness regarding joint and
bone health is expected to fuel use of glucosamine in various food &
beverage products. In addition, supporting regulatory framework in Europe
regarding product use in the manufacturing of food & beverages is expected
to propel industry growth over the next seven years. However, increasing number
of substitutes including fish oil and omega-3 may challenge product demand over
the forecast period.
For full research report on Glucosamine
Market visit here:
https://www.grandviewresearch.com/industry-analysis/glucosamine-market
Further key findings from the report
suggest:
- Nutritional supplements is expected to be the
fastest growing application segment at a CAGR over 4.0% from 2015 to 2022.
Rising bone and joint health concerns, increasing occurrences of joint
problems and rising awareness regarding product benefits among consumers
is expected to propel market growth over the next seven years.
- Japan market was valued at over USD 200.0 million in
2014. Growing consumer awareness coupled with rising geriatric population
is expected to propel product utilization over the next seven years. In
addition, high cost of medical services is expected to facilitate the
adoption of preventive measures, thus driving industry growth over the
forecast period. However, market saturation coupled with increasing
penetration in other regions is expected to hamper growth over the next
seven years.
- Asia Pacific product demand in nutritional
supplements was estimated at over 2,000.0 tons in 2014. Increasing
consumption of sports nutrition in Thailand and weight management products
in China and South Korea is expected to have a positive impact on product
demand over the next seven years. In addition, growing need for functional
food & beverages is expected to propel industry growth over the
forecast period.
- The global industry is highly competitive on account
of presence of numerous market players. Rising R&D expenditure for new
product development coupled with the need to reduce manufacturing cost are
key trends witnessed within the industry. Capacity expansion is one of the
strategies witnessed within the industry.
- In February 2016, Nutramax Laboratories invested USD
15 million in their distribution center at Lancaster to expand company's
presence in the UK. In May 2015, Amway opened a 60,000 square feet
facility in California dedicated for nutrition and R&D.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/glucosamine-market/request/rs1
Grand View Research has segmented the global glucosamine
market on the basis of application and region:
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)
- U.S.
- Europe
- Japan
- Asia Pacific
- RoW
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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