The global glucosaminemarket 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.
Browse full report by Grand View
Research : 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: 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
View press
release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-glucosamine-market
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.
No comments:
Post a Comment