Chondroitin Sulfate Market Is Expected To Reach USD 1.5 Billion By 2030

 San Francisco, 21 Aug 2024: The Report Chondroitin Sulfate Market Size, Share & Trends Analysis Report By Source (Bovine, Swine), By Application (Nutraceuticals, Pharmaceuticals), By Region, And Segment Forecasts, 2024 - 2030

The global chondroitin sulfate market size is expected to reach USD 1.65 billion by 2030, registering a CAGR of 3.6% from 2024 to 2030, according to 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.

Access Research Report of Chondroitin Sulfate Market @ https://www.grandviewresearch.com/industry-analysis/chondroitin-sulfate-market

 Chondroitin Sulfate Market Report Highlights

• The shark source segment is expected to grow at the fastest CAGR of 4.0% over the forecast period. Shark-derived products are useful in treating diseases such as HIV and arthritis due to their production method, which doesn't use animal cartilage and could see increased demand.
• The nutraceutical segment dominated the market and accounted for a share of 34.4% in 2023. The growth is attributed to factors such as rising investments in the sector, driven by the need to develop new and effective dietary supplements.
• Asia Pacific will register the fastest growth rate from 2024 to 2030, due to the growth in end-use industries including personal care & cosmetics, pharmaceutical, and nutraceuticals
• Increasing manufacturing of chondroitin sulfate coupled with exports from key countries, such as Japan, India, and China, are anticipated to contribute to the market growth
• The industry is highly fragmented. Companies focus majorly on R&D activities regarding improving product quality and lowering the manufacturing cost by undertaking efficient production processes
• The industry suffered during the COVID-19 pandemic, considering the complete shutdowns of multiple countries. Thus, the manufacturing and demand of end-product were hampered

Chondroitin Sulfate Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 1.33 billion
Revenue forecast in 2030	USD 1.65 billion
Growth Rate	CAGR of 3.6% from 2024 to 2030
Base year for estimation	2023
Historical data	2018 - 2022
Forecast period	2024 - 2030

List of Key Players in the Chondroitin Sulfate Market

• TSI Group Ltd.
• Qingdao Wan Toulmin Biological Sources Co., Ltd.
• Hebei SanXin Industrial Group
• Bioiberica SAU
• Sigma Aldrich, Inc.
• ZPD A/S
• Sino Siam Biotechnique Company Ltd.
• BRF
• Bio-gen Extracts Pvt. Ltd.
• SEIKAGAKU CORPORATION

Access Press Release of Chondroitin Sulfate Market @ https://www.grandviewresearch.com/press-release/global-chondroitin-sulfate-market

About Grand View Research

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.

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