Chondroitin Sulfate Market Size is projected to reach USD 1.70 Billion by 2030, growing at a CAGR of 3.9%: Straits Research

New York, United States, July 18, 2022 (GLOBE NEWSWIRE) -- Chondroitin sulfate is usually made from the cartilage of sharks, cows, pigs, and other marine animals. The long chain of sugars in chondroitin sulfate includes N-acetylgalactosamine and glucuronic acid. Chondroitin sulfate is often found in the cartilages, joints, and connective tissues of the body. If you regularly eat chondroitin sulfate, your joints will work better. Chondroitin sulfate can also be put in eye drops for people and animals with dry eyes.

Meat and things made from meat have a big effect on what people want to buy on the market. The market has grown as more people eat meat and more people buy meat scraps from the pet food industry. Lungs, livers, brains, kidneys, and spleens are all good sources of nutrients and are used in many industries.

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Prevalence of Osteoarthritis and Increasing Demand for Nutraceuticals & Pharmaceutical Industry Driving Market Growth
Osteoarthritis is one of the most common conditions that affect the muscles and joints of people over the age of 65. Chondroitin sulfate is used to treat osteoarthritis to ease pain, slow the disease's progress, and make symptoms better. Osteoarthritis is becoming more common in the U.S., U.K., and other developed countries. This is likely to make more people want to use chondroitin sulfate to treat the disease. Doctors think that the number of people with arthritis will go up over the next ten years. By 2030, about 65 million people in the United States will have arthritis, and about two-thirds of those people will be women. The Centers for Disease Control and Prevention (CDC) say that 11.4% of adults in the U.S. have noticed that their arthritis limits their ability to do certain things. Because there are more people with arthritis, there will likely be more demand for sodium chondroitin sulfate to treat it.

In the coming years, food and supplement manufacturers will demand more chondroitin sulfate. People are more aware of self-management and preventive care as the population ages and healthcare costs rise. As the population ages and becomes more health-conscious, chondroitin sulfate is used more in joint health supplements to reduce joint pain. People are spending more on organic and healthy foods, which is why there is an increasing demand for chondroitin sulfate. According to the World Industry Outlook, global health care spending will rise from $8.7 trillion in 2020 to $11 trillion in 2030. Growing older population, growing nutraceutical and pharmaceutical markets, and advances in technology and medicine will drive up spending. Growing use of pharmaceutical and nutraceutical products in developed economies will increase demand for chondroitin sulfate in the coming years. Chondroitin sulfate is added to the food of animals as a bioactive supplement because it is good for their health in a lot of ways. It is an important part of pet food and veterinary supplements that help prevent hip dysplasia and arthritis in animals. Chondroitin sulfate is also popular because it helps joints move better, which makes pets healthier and more active. This will probably make more people want the product in feed grade. The market for pet food is expected to grow because more pets are getting older and have different needs and preferences when it comes to food.

Growing Pharmaceuticals Needs to Create a Wave of Opportunities in the Global Chondroitin Sulfate Market

Companies that make pharma-grade chondroitin sulfate should have a lot of business opportunities because the pharmaceutical industry is growing all over the world. Also, osteoarthritis and a rise in the number of older people around the world are expected to drive the market for dietary supplements, which will likely drive the demand for chondroitin sulfate. As more people learn that chondroitin sulfate can help with joint health problems, the product is likely to get more chances on the nutraceuticals market.

Also, the growing popularity of dietary supplements with chondroitin sulfate is likely to give opportunities to manufacturers and suppliers on the market. Gnosis S.p.A. in Italy wants to make synthetic chondroitin sulfate. This should lower the product's operational costs and make it easier to make. It is also thought that this will help the market grow.

Thanks to these kinds of product innovations, manufacturers should have a lot of chances to make synthetic products that are both high quality and cheap. There are no veterinary checks on nutraceuticals that are meant to be eaten directly and contain chondroitin sulfate. Products must be made according to USP and GMP standards to make sure they are high quality and made in the standard way. With all of these things, the global chondroitin sulfate market is getting a wave of new opportunities.

Report Scope

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Regional Analysis of the Global Chondroitin Sulfate Market
The main parts of the global chondroitin sulfate market are North America, Europe, Asia-Pacific, and Central and South America. The North American region has the most influence over the other three. It was valued at USD 440 million in 2021, and will be worth USD 584 million at a CAGR of 3.2% by 2030. The growth of the chondroitin sulfate market in North America is due to the growth of the pharmaceutical industry and the FDA's approval of the use of products with sodium chondroitin sulfate.

Europe is the second most important region after North America, which has a market share of USD 267 million in 2021 and is expected to grow to USD 364 million by 2030 at a CAGR of 3.5%. Asia-Pacific also helps the chondroitin sulfate market grow and develop as a whole. In 2021, the market will be worth USD 303 million, and it is expected to reach USD 424 million by 2030, at a CAGR of 3.8%. Central and South America is the fourth region, with a market worth of USD 116 million in 2021 at a CAGR of 3% that shows it will grow steadily to USD 151 million by 2030.

Key Highlights

• The global chondroitin sulfate market was valued at USD 1211 million in 2021 and is expected to grow to USD 1709 million by 2030. The market is expected to grow at a CAGR of 3.9% during the forecast period (2022–2030).
• By process, the chondroitin sulfate market is dominated by the bovine segment and was valued at USD 460 million in 2021. The market is expected to reach USD 616 million at a CAGR of 3.3% by 2030.
• By application, the nutraceuticals segment dominates the global market with a market value of USD 432 million in 2021 and is anticipated to grow to USD 583 million by 2030 at a CAGR of 3.4%.
• Coming to regional segmentation, the North American region dominated the global chondroitin sulfate market with a market value of USD 440 million in 2021 and is expected to reach USD 584 million by 2030 at a CAGR of 3.2%.

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Competitive Analysis of the Global Chondroitin Sulfate Market

• TSI Group Ltd
• HeBei SanXin Industrial Group
• Bioiberica S.A.U.
• Sigma Aldrich Inc.
• Bio Gen Extracts Pvt Ltd
• ZPD
• Seikagaku Corporation etc. 

Global Chondroitin Sulfate Market: Segmentation
By Source

• Bovine
• Poultry
• Swine

By Application

• Nutraceuticals
• Pharmaceuticals
• Animal Feeds

By Region

• North America
• Europe
• Asia-Pacific
• Central & South America

TABLE OF CONTENT

1. Introduction
   1. Market Definition
   2. Market Scope
2. Research Methodology
   1. Primary Research
   2. Research Methodology
   3. Assumptions & Exclusions
   4. Secondary Data Sources
3. Market Overview
   1. Report Segmentation & Scope
   2. Value Chain Analysis: Chondroitin Sulfate Market
   3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
   5. Market Share Analysis
4. Source Overview
   1. Introduction
      1. Market Size & Forecast
   2. Bovine
      1. Market Size & Forecast
   3. Poultry
      1. Market Size & Forecast
   4. Swine
      1. Market Size & Forecast
5. Application Overview
   1. Introduction
      1. Market Size & Forecast
   2. Nutraceuticals
      1. Market Size & Forecast
   3. Pharmaceuticals
      1. Market Size & Forecast
6. Regional Overview
   1. Introduction
      1. Market Size & Forecast
   2. America
      1. North America
      2. U.S.
         1. By Source
         2. By Application
      3. Canada
         1. By Source
         2. By Application
      4. Mexico
         1. By Source
         2. By Application
      5. Latin America
         1. By Source
         2. By Application
   3. Europe
      1. Market Size & Forecast
      2. Germany
         1. By Source
         2. By Application
      3. France
         1. By Source
         2. By Application
      4. U.K.
         1. By Source
         2. By Application
      5. Italy
         1. By Source
         2. By Application
      6. Spain
         1. By Source
         2. By Application
      7. Rest of Europe
         1. By Source
         2. By Application
   4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
         1. By Source
         2. By Application
      3. China
         1. By Source
         2. By Application
      4. Australia
         1. By Source
         2. By Application
      5. India
         1. By Source
         2. By Application
      6. South Korea
         1. By Source
         2. By Application
      7. Rest of Asia-Pacific
         1. By Source
         2. By Application
   5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
         1. By Source
         2. By Application
      3. South Africa
         1. By Source
         2. By Application
      4. Kuwait
         1. By Source
         2. By Application
      5. Rest of Middle East & Africa
         1. By Source
         2. By Application
7. Company Profile
   1. TSI Group Ltd
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   2. HeBei SanXin Industrial Group
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   3. Bioiberica S.A.U
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   4. Sigma Aldrich Inc
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio

Table of Content and Figure @ https://straitsresearch.com/report/chondroitin-sulfate-market/toc

Market News -

• In January 2022, Seikagaku Corporation expanded its operations in Canada by establishing a new operational facility in the country to capture the American market. 
• In October 2020, TSI Group Ltd signed a new EPC contract in Basra to have their business expand in Iraq.
• In March 2022, Bioiberica S.A.U partnered with ByHealth in China to meet the consumer's needs for innovative, low-dose joint health solutions. 
• In February 2022, Sigma Aldrich Inc acquired Exelead and plans to invest more than €600 million for technology scale-up.

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