Glucosamine Market to Experience Huge Increase by 2020

<p>The global glucosamine market is expected to reach USD $1,246.4 million by 2020, according to a new study by Grand View Research Inc.</p>

SAN FRANCISCO—The global glucosamine market is expected to reach USD $1,246.4 million by 2020, according to a new study by Grand View Research Inc.

The growing geriatric population is expected to boost demand for glucosamine, particularly for the treatment of osteoarthritis, which is a common form of arthritis in old age population. Increasing vegan population and prevalence of shellfish allergies are expected to drive demand for internal substitutes such as vegetarian glucosamine.

Nutritional supplement was the most dominant application of glucosamine, with global demand exceeding 20,000 tons in 2013 due to increasing health awareness among the working population. Dairy products were a niche application segment in 2013, but they are expected to provide vast opportunities for glucosamine manufacturers over the next six years, particularly in Japan. Glucosamine consumption in dairy products was valued at USD $24.6 million in 2013 and is expected to reach USD $57.5 million by 2020, growing at a CAGR of 13 percent from 2014 to 2020.

Further key findings from the study suggest:

• Global glucosamine demand was 25,582.5 tons in 2013 and is expected to reach 63,789.5 tons by 2020, growing at a CAGR of 14 percent from 2014 to 2020.

• Food and beverage is expected to be the fastest growing application for glucosamine due to popularity of fortified products in Europe and Asia Pacific. Global demand for glucosamine in food and beverage was 4,519.5 tons in 2013, and it is expected to grow at a CAGR of 14.6 percent from 2014 to 2020.

• The United States was the largest regional market for glucosamine, accounting for more than 30 percent of global demand in 2013 due to increased consumption of nutritional supplements. Nutritional supplements are popular in the United States due to growing prevalence of lifestyle associated diseases, such as arthritis.

• Japan is expected to be fastest regional market growing at a CAGR of 16.1 percent from 2014 to 2020 due to the increasing application scope for glucosamine. The ingredient is being added to food and beverages and dairy products due to consumer preference towards fortified foods in comparison to nutritional supplements.

• Key market participants include Alcan Chemical Division, Xiamen Blue Bay Science & Technology Co. Ltd., Alfa Chem, Triarco Industries Inc., Cargill Inc., Synasia Inc., Dalian Lijian Bio-Technology Development Co. Ltd., Simply Supplements, Dee Pharmaceuticals Ltd., Schiff Nutrition International Inc., Ethical Naturals Inc., Promax Nutrition Corp., FabriChem Inc., Nutrilite, Golden-Shell Biochemical Co. Ltd., and Nutramax Laboratories.

For information on the latest research backing anti-aging ingredients, read “Use it or Lose it" in INSIDER’s Content Library.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish