The global glucosamine market is expected to grow at CAGR 14% during period 2016-2022. The glucosamine market is estimated to reach $1.2billion by 2022. Rising geriatric population is the prime factor driving global glucosamine market for the forecasted period. National Institute of Health’s report; An Aging World: 2015, estimated the world’s geriatric population (aged 65 and over) to be 8.5% in 2015. The report predicts geriatric population to reach around 17% by 2050. Men and Women above 65 years tend to suffer from arthritis and other joint pain diseases. By the year 2040, more than 78 million people aged 18 years and above will suffer from one or other form of Osteoarthritis (OA). Expenditures towards OA treatment for US government alone costs approx. $62.1billion every year. Majority doctors prescribe glucosamine to regulate OA disease. Emerging economies like India and China are increasing investments for preventive healthcare for the forecasted period. The glucosamine market is segmented in terms of applications. Dairy product is among the known common application of glucosamine. Glucosamine in dairy products market are estimated to reach $57million by 2020, at CAGR 15%. By 2025, Countries like India, Pakistan, US, and China will be leading producers of milk and dairy products growing at 3 % annually.
The research report is segmented in terms of applications. Under application, the research report is segmented as nutritional supplements, food & beverage and dairy products. Food & beverage is one of the fastest growing application segments. Europe and Asia Pacific are regions leading in food & beverage market growth. The global demand in food & beverage grew at CAGR 15% to over ~11,700tons in 2020. Japan is the fastest growing consumer market for glucosamine in food and beverage. Japan has over 26% of its total population aged 65 years and above. Geriatric population in Japan is estimated to grow at 4% per annum. Glucosamine market in Japan is growing at CAGR 17% till 2020. Nutritional supplement was leading application segment of glucosamine in the world with market share of 35% in 2015. The nutritional supplement market is growing fastest in US. US accounted for the largest market share (of 71%) in North America for glucosamine. Growing geriatric population and health conscious working people are the contributing factors towards nutritional supplement market growth. Nutritional supplement market share of North America was 27% in 2015. Asia Pacific is the fastest growing market for nutritional supplement in the world, with CAGR of 12.5% till 2022. Growing geriatric population in China, Japan, and Australia are the main drivers of nutritional supplement market in Asia Pacific.
Growing geriatric population, adoption of glucosamine in emerging economies, increasing adoption of food & beverages, increasing prevalence of arthritis and other joint pain diseases and rising vegan diet population are the drivers discussed in the market research report. By the year 2040, more than 78 million people aged 18 years and above will suffer from one or other form of Osteoarthritis (OA). Proper disposal and recycling technique, low awareness of glucosamine material in emerging economies, and traceability & control of supply chain are the challenges deliberated in the research report.
The research report analysed biotechnology reagents market geographically. Region wise the report is segmented as North America, Europe, Asia Pacific, and Rest of the World. North America dominates glucosamine market with market share of 32% in 2015. North America is followed closely by Europe with market share of 29% in 2015. Awareness about glucosamine and nutritional supplements, increasing geriatric population and growing food & beverage industry adopting glucosamine in their products are the factors driving the market in North America and Europe for the forecasted period. Asia Pacific is the fastest growing glucosamine market for the forecasted period. Asia Pacific is anticipated to have market share of 34% by 2022. In 2015, Asia Pacific had over 38% of the world’s total geriatric population. Every five years geriatric population in Asia Pacific is growing at 22%. Increasing geriatric population, increasing health conscious working people, rising adoption of food & beverage, and growing vegan population are the factors driving glucosamine market in Asia Pacific for the forecasted period. Geriatric population in India is estimated to increase up to 3.75% by 2021. Countries like Japan, India, China, Indonesia and Vietnam are among the growing markets for glucosamine in Asia Pacific. Nutritional supplements demand is growing in India, with growing awareness among working youth population. Food Safety and Standards Act 2006 and Food & Drug Administration’s Orphan Drug Act Amendments 1988 are the reference points for regulations for food products including nutritional supplements to be sold in the country.
Some of the leading companies are Alfa Chem, Cargill Inc., Fabrichem Inc., Golden Shell Biochemical Co Ltd., Koyo Chemical Company Ltd., and Marin Biochemical Co Ltd. The report provides comprehensive information like company profile, sales, revenue, market share and contact information. Joint ventures, agreements, partnerships, collaborations, expansion in different countries, and strengthening supply chain network with distributors are some of the strategies taken by pioneers in glucosamine market, to increase their global presence. Frutarom Inc., brought 100% shares of nutritional supplement manufacturer, Grow Company Inc., US, for $20million on 18th January 2016. On 29th September 2016, TSI Group Co Ltd., launched GlucosaGreenDF worlds first non-shellfish glucosamine product. TSI Group Co Ltd has their presence in Europe and North America.