Global Glucosamine Market growing at a CAGR of 5.8% from 2023 to 2030
Category : Healthcare | Published Date : Aug 2023 | Type : Press Release
Key Market Overview
Consegic Business Intelligence analyzes that the global glucosamine market is growing with a CAGR of 5.8% and is expected to reach USD 1,082.65 million in 2030 from USD 693.50 million in 2022.
The report highlights increasing the use of glucosamine supplements to improve bone & joint health. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the glucosamine market.
Global Glucosamine Market By Overview
The glucosamine market is bifurcated into product type, form, and end-use industry. Based on product type, the market is segmented into glucosamine sulfate, glucosamine hydrochloride, n-acetyl glucosamine, and others. In 2022, the glucosamine hydrochloride segment accounted for the highest market share in the glucosamine market. The form segment is categorized into tablets, powder, liquid, and others. Based on form, the powder segment accounted for the highest market share in 2022. Based on end-use industry, the market is segmented into pharmaceuticals, nutritional supplements, food & beverages, dairy, and others. In 2022, the nutritional supplements segment accounted for the highest market share in the overall glucosamine market.
Get Free SampleMarket Dynamics
Driver:
- Increasing use of glucosamine supplements to improve bone & joint health is propelling the glucosamine market growth.
- Growing consumer awareness regarding the benefits of dietary supplements.
Restraints:
- Side effects associated with the use of glucosamine is likely to deter market growth.
Opportunity:
- The increasing prevalence of cancer is likely to accelerate market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Product Type | Glucosamine Sulfate, Glucosamine Hydrochloride, N-acetyl Glucosamine, and Others |
| By Form | Tablets, Powder, Liquid, and Others |
| By End-use Industry | Pharmaceuticals, Nutritional Supplements, Food & Beverages, Dairy, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Nutralife Health Products Inc., Cargill, Inc., Blackmores Ltd., and Glanbia plc. which have a strong market position in current market circumstances. Further, the glucosamine market is expected to witness significant growth in the coming years due increasing use of glucosamine supplements to boost bone & joint health. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- Nutralife Health Products Inc.
- Blackmores Ltd.
- Foodchem International Corporation
- Health World Ltd.
- Glanbia plc.
- Cargill, Inc.
- Schiff Nutrition International, Inc.
- CAPTEK Softgel International Inc.
- Spectrum Chemicals
- Golden-Shell Pharmaceutical
