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.
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click the link below:
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http://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.
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/nutraceuticals-functional-foods-and-dietary-supplements
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
Access Press Release Of This Research Report by Grand
View: https://www.grandviewresearch.com/press-release/global-glucosamine-market
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