The global glucosamine market is anticipated to rise at $757.3 million in the forecast period. Glucosamine market is driven by functional use in pet foods and medicinal use to enhance joint structures and prevent arthritis in humans. Clinically, glucosamine comes with a package of advantages. It helps in relieving joint pain for elderly population and diagnoses arthritic conditions enabling effortless movements.
The market for glucosamine witnesses positive trends in terms of demand and supply and functional uses. High awareness, ease of use, and clinical recommendation for medicinal purpose are likely to contribute in shaping a positive market growth.
Glucosamine is produced in the body in form of sugar and is responsible to function as a driver in cartilage formation. Glucosamine comes in two forms; glucosamine hydrochloride and glucosamine sulfate. Externally, glucosamine is produced from shrimp shells. Lobster and crabs are used in supplementary production whereas some are made from plants, which are normally available in form of liquids and tablets blended with chondroitin. The medical use is widespread as Glucosamine and chondroitin are being clinically useful in healing arthritic conditions.
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Glucosamine market is segmented by application as dairy products, food & beverages, and nutritional supplements. Dairy products and nutritional supplements account for a significant market share owing to daily demand as a food necessity. Nutritional supplements are likely to gain a positive traction in the forecast period since fitness enthusiasts have a constant demand for nutritional products.
Geographical segmentation for glucosamine market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. North America is a larger market accounting for a greater market share in the global scenario. Rise in demand for dietary supplements for geriatric patients dealing with arthritis. Enhanced healthcare and treatment facilities are expected to contribute to the market growth in the forecast period.
Asia-Pacific regions have a greater accountability due to government support and significant funding for R&D. Huge spending by government is likely to boost the APAC market growth. In addition, glucosamine is widely accepted for treatment of osteoarthritis coupled with government mandates and rise in geriatric population in European regions, with a higher anticipation for development of favorable market conditions in the forecast period. The key players in the glucosamine market include Teva Pharmaceutical Industries Ltd, Mylan N.V., Nutralife Health Products Inc, Blackmores Ltd, G.T.C Union Group Ltd, Glanbia Plc, NOW Health Group Inc and Foodchem International Corporation.
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Global glucosamine market is anticipated to grow at a CAGR of 8.6% by 2023, according to a new report published by Gen Consulting Company. The report segments the market and forecasts its size, by volume and value, on the basis of application (supplements, food & beverages, dairy products, etc.), and by geography (North America, Europe, Asia-Pacific, MEA and South America).
The report covers forecast and analysis for the Glucosamine market on a global and regional level. The study provides historic data of 2013-2017 along with a forecast from 2018 to 2023 based on both output/volume and revenue. The study then describes the drivers and restraints for the Glucosamine market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Glucosamine market on a global level.
The report has been prepared based on the synthesis, analysis, and interpretation of information about the global Glucosamine market collected from specialized sources. The competitive landscape section of the report provides a clear insight into the market share analysis of key industry players. Company overview, financial overview, product portfolio, new project launched, recent development analysis are the parameters included in the profile.
The research report provides analysis and information according to market segments such as geographies, types and applications. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2023. Relevantly, the report and company profiles specify the key drivers that are impacting the demand in global Glucosamine market.
– Food & Beverages
– Dairy Products
– North America
– Asia Pacific
– Middle East and Africa
– South America
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