Global Chondroitin Sulfate Market by Application (Pharmaceuticals, Nutraceuticals, Personal Care & Cosmetics, Animal Feed), by Source (Poultry, Swine, Bovine) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global chondroitin market value was USD 1.17 billion in 2020. It is expected to grow at 3.0% compound annual growth rate (CAGR), from 2020-2028. The market is expected to grow due to increased demand for nutraceutical product and the increasing incidence of osteoarthritis. It is used primarily to treat osteoarthritis, cataracts and urinary tract infections in pharmaceutical grade. This is expected to drive overall demand for the product during the forecast period. It can also be used as a medicine to improve digestion function, increase liver function, lower blood glucose, and inhibit tumor metastasisis. Its increasing popularity in osteoarthritis treatment and other treatments will benefit overall market growth.

Sodium chondroitin is also used as a thickener, additive, forming agent, preservative, and in pet food. Because it is effective in treating arthritis and joint pain, as well as other diseases, such chronic pain, elbow dysplasia, hip dysplasia, and osteoarthritis, it is widely used. It is expected that animal feed and food grade applications will experience a faster growth rate than conventional use in the near future.

North America and Europe are the main regional markets for sodium-chondroitin sulfate. Due to the high incidence of osteoarthritis worldwide, high consumer awareness, favorable government regulations regarding the treatment of the disease, and the well-developed healthcare infrastructure, the product has seen a high rate of adoption in developed countries such as the UK, Germany, and the U.S. The forecast period will see an increase in R&D activity in developed economies to improve quality, reduce operational costs, and drive demand.

Source Insights

Bovine dominated the market, accounting for over 35.0% of global revenue in 2020. The sodium chondroitin-sulfate from bovines is used in many applications, including pharmaceuticals, nutraceuticals and animal feed. Bovine cartilage, a byproduct of beef sector is being produced on a large-scale across the globe. Many parts of the globe already consume bovine byproducts. These factors have led to bovine being chosen as a source of protein.

Diverse industries use shark-derived products, including pharmaceuticals, nutraceuticals and animal feed. The shark is being considered an endangered species and this may limit the growth of the market. The preferred sodium chondroitin supplement sourced from sharks can be used to treat HIV, arthritis and intestinal inflammation. This will drive demand for the product over the forecast period.

Two-stage fermentation is used to produce synthetic sodium chondroitin. This process does not use animal cartilages. It reduces the risk of contamination and adulteration. The extraction process is simpler, which results in lower production costs. Synthetic chondroitin will be a popular choice for vegetarians with dietary and religious restrictions.

Application Insights

Nutraceuticals dominated the market, accounting for over 36.0% of global revenue in 2020. The nutraceutical market uses sodium chondroitin, a dietary supplement to treat osteoarthritis and other joint pains. They can be used to relieve arthritis pain and strengthen the bones, cartilages, joints and other body parts. Each country's laws determine how the product is classified. It is sold in the U.S. as a dietary supplement, and used with glucosamine to relieve arthritis pain. Industry growth is expected to be driven by increased consumption of dietary supplement in developed economies like the U.S.

It is available as a prescription drug in Europe under the European Medicines Agency. It can also be used to insert it into the bladder to treat urinary tract infections (UTIs), bladder problems, or lose bladder control. The market is expected to grow due to increased sodium chondroitin (sulfate) consumption in pharmaceutical applications, such as eye drops, heart disease, joint pain, osteoarthritis, and eye drops.

In food preparations, sodium chondroitin is used as a thickener, preservative, and forming agent. It can be used in beverages, chewing gums, as well as dairy products. ScanDroitin is a brand of food-grade products manufactured by the company. They adhere to GMP standards and are guaranteed high quality. The market is expected to be driven by favorable government regulations regarding the use of the product as an additive in food.

Regional Insights

North America was the dominant market, accounting for more than 35.0% of global revenue in 2020. The booming U.S. pharmaceutical industry and FDA approval of sodium chondroitin-infused products can explain the growth. The demand will be driven by factors such as high osteoarthritis prevalence and increased use of cholesterol treatment, cataract surgery, eye drops formulations, and the increasing use of eyedrop formulations.

Asia Pacific is expected to grow at the fastest rate, growing at 3.6% per year. This is due to rising awareness about dietary supplements and the high prevalence of osteoarthritis. Asia Pacific was the second largest regional market in 2020. This can be attributed to the growth of many end-use industries such as nutraceutical and pharmaceutical, personal care, cosmetics, and personal care. The industry's growth is expected to be supported by increased production in the region and greater exports from key countries like China and Japan.

Market Share Insights & Key Companies

Due to the large number of companies that are present in China, the chondroitin-sulfate market can be highly fragmented. The market has a high level of competition due to increased investments in R&D and product innovation. The high level of competition in the market for final product prices and the shift of manufacturers' focus to increased use of natural extracts indicates high levels of competitive rivalry. Manufacturers are now focusing on sustainable raw materials and efficient manufacturing processes. High-purity cartilage is being used to make the products. ZPD, for example, offers a variety of sodium-chondroitinsulfate components that can be used by pet food manufacturers. These are compliant with the requirements of different grades, which include 20%, 40% and 80% sodium chondroitinsulfate. The industry players invest in R&D to develop new products and reduce the operational costs of their products.

The majority of sodium chondroitin is supplied to pharmaceutical and nutraceutical companies by key manufacturers in developed countries like the U.S., France and Germany. This market has seen a significant increase in osteoarthritis, as well as the increased use of dietary supplements. The market leader in chondroitin-sulfate is:

• TSI Group Ltd.

• Qingdao Wan toulmin Biological Products Co. Ltd

• BRF

• HeBei SanXin Industrial Group

• Bioiberica S.A.U.

• Sigma-Aldrich, Inc.

• Sino Siam Biotechnique Company Limited

• Bio-gen Extracts Private Limited

• ZPD

• SEIKAGAKU CORPORATION

Up Market Research published a new report titled “Chondroitin Sulfate Market research report which is segmented by Application (Pharmaceuticals, Nutraceuticals, Personal Care & Cosmetics, Animal Feed), by Source (Poultry, Swine, Bovine), By Players/Companies TSI Group Ltd, Bioiberica SAU, Sigma-Aldrich Inc, Qingdao Wan toulmin Biological Products Co Ltd, Sino Siam Biotechnique Company Limited, Bio-gen Extracts Private Limited, SEIKAGAKU CORPORATION, BRF, ZPD, HeBei SanXin Industrial Group”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Chondroitin Sulfate Market Report Segments:

The market is segmented by Application (Pharmaceuticals, Nutraceuticals, Personal Care & Cosmetics, Animal Feed), by Source (Poultry, Swine, Bovine).

Chondroitin Sulfate Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Chondroitin Sulfate Market

Overview of the regional outlook of the Chondroitin Sulfate Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Chondroitin Sulfate Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Chondroitin Sulfate Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Pharmaceuticals

                2. Nutraceuticals

                3. Personal Care & Cosmetics

                4. Animal Feed

                1. Poultry

                2. Swine

                3. Bovine

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Chondroitin Sulfate Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Chondroitin Sulfate Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.