19th November 2019 – 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.
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.
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