This Glucosamine Supplement market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Glucosamine Supplement market.
Glucosamine Supplements Market – Cashing in on the Rise of Preventive Healthcare
In recent years, sales of dietary supplements have been on significant rise, propelled by aging population and heightened interest in preventive healthcare. A perception – aging population gives rise to lifestyle-related diseases and the impact of these diseases can be lowered by making healthier choices earlier in life – has been a key driving factor for the nutraceutical industry. While scientists and certain regulatory bodies grapple with definition of nutraceuticals, companies are increasingly coming up with a range of innovative products, touting their positive health benefits. Although protein and vitamin supplements continue to invade the routine dietary practices of a large number of consumers, demand for bone and teeth supplements such as calcium supplements and glucosamine supplements is increasing.
Growing awareness of science behind glucosamine and its potential benefits in terms of relieving arthritis pain and preventing joint diseases has led to development of the glucosamine supplements market. The shift in healthcare from treatment to prevention is encouraging clinicians and patients to change perception about health and diseases, thereby creating a momentum for dietary supplements including glucosamine supplements. However, dietary supplements have a faced legitimacy crisis, as lack of scientific evidence on their effectiveness and actual benefits on human health hasn’t really be forthcoming. The evidence supporting the effectiveness of glucosamine supplements in particular for joint pain is mixed and very limited. Therefore, manufacturers will need to demonstrate quality and efficacy of their products through scientific research.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Glucosamine Supplements Market – Notable Developments
Some of the key players operating in the glucosamine supplements market include Reckitt Benckiser Group plc, Nature's Way Products, LLC, Solaray, Inc., Blackmores Limited, Jarrow Formulas, Inc., Nature’s Best, Spring Valley Herbs, Solgar Inc., and NOW Health Group, Inc.
- In September 2019, NOW Health Group, Inc., doing business as NOW Foods, completed its acquisition of SuperNutrition – a supplement company that offers a unique brand of high potency multi-vitamin.
- In May 2019, Reckitt Benckiser Group, a key player in the glucosamine supplements market, announced to make popular consumer health products 100% waste free by rolling out a global recycling program called ‘Loop’. With reusable packaging, the company is set to bring next generation of sustainability in well-known health products.
- In July 2018, Jarrow Formulas, Inc, announced all-new lineup of Beyond Bone Broth® and new flavors include chicken, curry chicken, beef, and spicy beef ramen. These products are developed for those seeking nutritional support for their bones, joints, and the gastrointestinal tract.
Key Factors Shaping Growth of the Glucosamine Supplements Market
Rise in Number of Self-directed Consumers
In line with rapid inclination towards health and wellness, growing number of consumers are depending on varying channels to self-diagnose and subsequently to evaluate targeted health needs. This, in turn, has generated significant demand for glucosamine supplements, particularly for maintaining optimal joint health. Moreover, the glucosamine supplements market is expected to benefit from recent increase in the demand for older adult health supplements which serve as beneficial alternatives to combat nutrient deficiency in aging population. In addition, market players are focusing on encouraging self-directed behavior by improving their marketing efforts and targeting consumers both on- and off-line.
High Awareness of Preventive Healthcare
The increased exposure brought on by the age of social media plays a significant role in consumers focusing on healthy living. Far more access to information than before pertaining to preventive healthcare has been a key driver for consumer purchasing. The result is expected to lead to increased demand for numerous dietary supplements, ranging from multi nutritional supplements to glucosamine supplements. In addition to new products innovation, manufacturers are investing in enhanced effectiveness and safety of products to retain and attract new segments of consumers.
Robust Growth of E-commerce Sector
With e-commerce taking nutraceutical products mainstream, glucosamine supplements are available everywhere across the globe, further stimulating their demand. With studies suggesting that taking over-the-counter glucosamine supplements to protect against arthritis could the lower the risk of dying from a heart disease, manufacturers are expected to witness a period of sustained demand. However, the jury is still out on the effectiveness of glucosamine supplements, as guidelines for the National Health Services (NHS) do not recommend their use for osteoarthritis. Recent findings in the British Medical Journal (BMJ) have also suggested a possible benefit; however, more and longer studies are required. These factors are expected to pose as a potential threat to sales of glucosamine supplements.
The report covers exhaustive analysis on:
- Glucosamine Supplements Market Segments
- Market Dynamics
- Glucosamine Supplements Market Size
- Supply and Demand
- Current Trends/Issues/Challenges pertaining to glucosamine supplements market
- Competition Landscape and Emerging Market Participants in Glucosamine Supplements Market
- Technology related to Production/Processing of Glucosamine Supplements
- Value Chain Analysis of the Glucosamine Supplements market
The regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on glucosamine supplements market segments and geographies.
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Glucosamine Supplement Market: Segmentation
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Which framework has been used to develop the Glucosamine Supplement Market report?
- Investment Feasibility Matrix - It shows returns on investment, level of competition, success rate of investment, and potential risks associated with the market. The analysis shows that the competition is high in the established market, while the returns for short-term investment are also taken into consideration
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