|Chondroitin Sulfate Market 2022 Survey, Regional Supply And Value Chain Analysis 2030|
Chondroitin Sulfate Market Growth & Trends
The global chondroitin sulfate market size is expected to reach USD 1.65 billion by 2030, registering a CAGR of 3.5% during the forecast years, as per a new report by Grand View Research, Inc. The growth is majorly driven by the growing consumption of joint health supplements due to the rising prevalence of arthritis among the geriatric and obese population. The growing inclusion of chondroitin sulfate as a substitute for osteoarthritis treatment is expected to accelerate industry growth. The majority of chondroitin sulfate is produced from the cartilage of various animals, including shark, bovine, porcine, and other marine sources. These cartilages are usually leftovers from the butchering of the animals.
Chondroitin sulfate is utilized as a preservative, forming agent, additive, and thickener in health foods, and in animal feed. Due to its effectiveness in treating pets with joint pain and arthritis, including conditions like hip dysplasia, elbow dysplasia, and osteoarthritis, it has a high demand. Over the forecast period, the industry is anticipated to be driven by the rising demand for nutraceutical goods and the incidence of osteoarthritis. Food-grade and animal feed-grade applications are anticipated to expand more quickly than more traditional uses. The structural component chondroitin sulfate, which is derived from cartilage, has a variety of medical uses, including the treatment of osteoarthritis, eye conditions, heart conditions, and joint discomfort.
To maintain the quality of the drug, cartilage producers who supply the raw materials for pharma-grade must carry out the refining and purification processes. From these sources, raw material suppliers remove cartilages and give them to chondroitin sulfate producers, who then chemically alter the substance to create pharmaceuticals. On the other hand, due to its rising use in pharmaceutical and nutraceutical applications, the raw material needed for extraction has been in high demand. The demand for cartilage derived from these animals has expanded due to the rising frequency of several diseases in developed nations and the post-treatment benefits of cartilage products. As a result, the costs of cartilage and its byproducts have increased, which may act as a restraining factor for the market.
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Chondroitin Sulfate Market Segmentation
Grand View Research has segmented the global chondroitin sulfate market on the basis of source, application, and region:
Chondroitin Sulfate Source Outlook (Volume, Tons; Revenue, USD Million, 2018 – 2030)
Chondroitin Sulfate Application Outlook (Volume, Tons; Revenue, USD Million, 2018 – 2030)
· Animal Feed
· Personal Care & Cosmetics
· Other Applications
List of Key Players in the Chondroitin Sulfate Market
· TSI Group Ltd.
· Qingdao Wan Toulmin Biological Products Co., Ltd.
· Hebei SanXin Industrial Group
· Bioiberica SAU
· Sigma Aldrich, Inc.
· Sino Siam Biotechnique Company Ltd.
· Bio-gen Extracts Pvt. Ltd.
· Seikagaku Corp.
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world’s renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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