III. MARKET DYNAMICS Market Overview Glucosamine based products were classified as nutraceuticals in most countries worldwide. But now a number of countries (especially Europe) are permitting glucosamine products to be registered as pharmaceuticals. Products sold as drugs need to be approved by national medicines agencies, whereas nutraceuticals in general are governed by much less demanding food regulations. As a result of the US anti-dumping action against shrimp shells from India and the EU ban on seafood imports from China, there was a steep rise in the price of Glucosamine. But since the uplift of the ban price of glucosamine has more or less stabilized. Change in the status of Glucosamine from drug to food has led to the market being opened up. Since its entrance on the food market, glucosamine has tripled in sales The recommended dose of glucosamine is 1,500mg. Putting that level into food may cause an issue, due to its taste and also the expense. Coca-Cola branched out into glucosamine in the US with fortified juice Minute Maid Active, while Smooth Walking, an energy drink aimed at people over 40 who want to keep agile, was launched in Japan. However, glucosamine fortified drinks haven't seen much success in Europe. In 2005 Complan Active, a glucosamine fortified juice for seniors, was discontinued. Delamere Dairy's Top Life Prime Time goat's milk fortified with glucosamine and chondroitin met a similar fate in 2007, after just a year on the market. Growth of the Glucosamine market is bound to continue, mainly driven by the following three factors:
More number of countries are permitting the registration of glucosamine based drugs
Increasing usage of glucosamine in the treatment of Osteoarthritis
There is a constant increase in occurrence of Osteoarthritis mainly due to the ageing population
Glucosamine supplements have witnessed healthy sales worldwide. But with a constant stream of new products saturating the market, manufacturers are starting to consider new applications for the amino sugar and have found the food industry the most promising. The introduction of combination products such as Vitabiotics' Jointace [supplement] with collagen, glucosamine and chondroitin are undercutting sales for single glucosamine dietary supplements on the market.
RITMIR017: Glucosamine – A Market Insight Report, July 2013 © RI Technologies - www.researchimpact.com
Sample Page - 7