“Global Glucosamine Market to reach a market value of USD 1.3 Billion by 2030 growing at a CAGR of 5%”
The Global Glucosamine Market size is expected to reach $1.3 billion by 2030, rising at a market growth of 5.0% CAGR during the forecast period. In the year 2022, the market attained a volume of 75,149.87 Tonnes, experiencing a growth of 4.2% (2019-2022).
Global health and wellness trends, including the popularity of dietary supplements, increasingly influence the Asia Pacific region. Therefore, the Asia Pacific region captured $400.69 million revenue in the market in 2022. Urbanization in many Asia Pacific cities has led to sedentary lifestyles, increasing joint-related concerns. The expansion of e-commerce platforms in the Asia-Pacific region has made health supplements, such as glucosamine, more available to a larger audience.
Natural and holistic health and wellness methods are becoming increasingly popular among consumers. It, as a naturally occurring compound, aligns with these trends, driving its popularity among health-conscious consumers. Consumers are adopting a holistic approach to wellness, seeking products that address multiple aspects of health. Glucosamine, known for its potential benefits in supporting joint health, fits into the holistic wellness narrative, contributing to its popularity. Consumers are increasingly focused on preventive health measures to promote longevity and well-being. It’s role in joint health fits into preventive health practices, driving its adoption among those aiming for longevity. Additionally, online retail allows consumers to shop for these supplements at any time, offering the convenience of 24/7 accessibility. The convenience factor encourages regular purchases, contributing to sustained market growth. Online platforms offer diverse products, including various brands, formulations, and dosage forms. Consumers can explore and choose products that align with their preferences and needs, contributing to market expansion. Online platforms often feature customer reviews and ratings, helping consumers make informed decisions about these supplements. Thus, subscription services enhance customer loyalty and contribute to sustained sales, supporting the market growth.
However, negative publicity or misinformation regarding the safety or efficacy of glucosamine may impact consumer perception. When consumers lose trust in the product's effectiveness, they may be less likely to purchase or continue using these supplements. Misinformation about potential side effects or exaggerated claims can dissuade potential users from adopting this. Negative publicity may contribute to the perception that the market is saturated with ineffective or low-quality products. Negative publicity can attract regulatory attention, leading to tighter scrutiny of the market. Negative information can influence healthcare professionals' recommendations, affecting its inclusion in treatment plans. Dispelling misinformation and educating consumers about the actual benefits of this can be challenging. Therefore, negative publicity and misinformation are a significant challenge that hampers the growth of market.
By product, the market is categorized into glucosamine sulfate, glucosamine hydrochloride, n-acetyl glucosamine, and others. In 2022, the sulfate segment held the highest revenue share in the market. Glucosamine sulfate is primarily recognized for its role in supporting joint health. It is a key component in cartilage structure, promoting maintenance and repair. The prevalence of joint-related issues, such as osteoarthritis and general joint discomfort, drives the demand for glucosamine sulfate as a popular supplement for joint health. It plays a crucial role in synthesizing glycosaminoglycans and proteoglycans, essential components of cartilage. This promotes the maintenance and repair of cartilaginous tissues.
Based on application, the market is classified into supplement, food & beverage, and others. The food & beverage segment acquired a substantial revenue share in the market in 2022. Integrating this into functional foods aligns with the broader trend of consumers seeking holistic wellness solutions. Consumers looking for comprehensive health benefits are drawn to functional foods with added glucosamine, driving the market segment growth. Consumers increasingly prefer natural ingredients and incorporating this into food & beverages aligns with this preference. The perception of this as a natural and functional ingredient positively influences consumer choices, fostering market segment growth.
Free Valuable Insights: Global Glucosamine Market size to reach USD 1.3 Billion by 2030
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region acquired a significant revenue share in the market. North America has a significant aging population, leading to a higher prevalence of joint-related issues like osteoarthritis. There is a growing trend in North America towards preventive healthcare, with individuals adopting proactive measures to maintain overall health. The sports and fitness culture are prominent in North America, leading to increased awareness of joint health among athletes and fitness enthusiasts.
Report Attribute | Details |
---|---|
Market size value in 2022 | USD 851.2 Million |
Market size forecast in 2030 | USD 1.3 Billion |
Base Year | 2022 |
Historical Period | 2019 to 2021 |
Forecast Period | 2023 to 2030 |
Revenue Growth Rate | CAGR of 5% from 2023 to 2030 |
Quantitative Data | Volume in Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
Number of Pages | 255 |
Number of Tables | 530 |
Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
Segments covered | Product, Application, Region |
Country scope |
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Companies Included | Teva Pharmaceutical Industries Ltd., Laboratoires Expanscience S.A., Nutramax Laboratories, Inc., Amway Corporation, CellMark AB, Alfa Chemical Group, Cargill, Incorporated, Simply Supplements, Reckitt Benckiser Group PLC, Panvo Organics Pvt Ltd. |
By Application (Volume, Tonnes, USD Billion, 2019-2030)
By Product (Volume, Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Tonnes, USD Billion, 2019-2030)
The Market size is projected to reach USD $1.3 billion by 2030.
Rapid shift towards e-commerce platforms are driving the Market in coming years, however, Negative publicity and misinformation restraints the growth of the Market.
Teva Pharmaceutical Industries Ltd., Laboratoires Expanscience S.A., Nutramax Laboratories, Inc., Amway Corporation, CellMark AB, Alfa Chemical Group, Cargill, Incorporated, Simply Supplements, Reckitt Benckiser Group PLC, Panvo Organics Pvt Ltd.
In the year 2022, the market attained a volume of 75,149.87 Tonnes, experiencing a growth of 4.2% (2019-2022).
The Supplement segment is generating highest revenue in the Market by Application in 2022; thereby, achieving a market value of $954.8 Million by 2030.
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $607.1 Million by 2030.
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