Glucosamine is a chemical compound occurring naturally in humans. There are two main types of glucosamine – hydrochloride and sulphate. glucosamine in the body helps to enhance health of cartilage – the rubbery tissue that cushions bones at joints. It is widely used to treat rheumatoid arthritis and other conditions, such as inflammatory bowel disease, asthma, allergies, and others.
Major factors driving growth of the global glucosamine market include increasing prevalence chronic diseases such as diabetes, cancer, and obesity, owing to improper diet, hectic lifestyle and high demand from dietary fibers from functional food & beverages products. Increasing adoption of glucosamine in pharmaceuticals industry to treat various cardiovascular diseases, diabetes, blood pressure is another major factor expected to support growth of the global glucosamine market over the forecast period. However, high price of glucosamine and availability of other substitutes such as omega 3 fatty acids, collagens, and fish oils are major factors restraining growth of this market.
The global glucosamine market report has been segmented on the basis of product, application, and region. On the basis of product, the global glucosamine market is segmented into glucosamine hydrochloride, n-acetyl glucosamine, and glucosamine sulfate. Glucosamine sulfate is accounted for major revenue share compared to other product segments, owing to high demand from pharmaceuticals to treat arthritis.
On the basis of applications, the glucosamine market is segmented into nutritional supplements, food & beverages, and dairy products. Nutritional supplements accounted for major share in terms of revenue, owing to high demand for dietary supplements for maintenance of joint and bone health.
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On the basis of region, the global glucosamine market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is expected to dominate the global glucosamine market, owing to high demand from pharmaceuticals industry in countries in the region. The market in North America is followed by Europe, Asia Pacific, Latin America, and Middle East and Africa.
Key players in this market includes Mylan N.V., Teva Pharmaceutical Industries Ltd., Nutralife Health Products Inc., Blackmores Ltd., G.T.C. Union Group Ltd., Foodchem International Corporation, Health World Ltd., Glanbia plc., and NOW Health Group, Inc.