New York, United States , Dec. 19, 2023 (GLOBE NEWSWIRE) -- The Global Chondroitin Sulfate Market Size to Grow from USD 1.19 Billion in 2022 to USD 1.68 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 3.5% during the forecast period.
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Chondroitin sulfate is a compound that occurs naturally in joint cartilage and connective tissues throughout the human body. A glycosaminoglycan is an extensive carbohydrate that aids in elasticity and compressive stress resistance. Chondroitin sulfate is a dietary supplement used to treat osteoarthritis. It is sometimes combined with glucosamine. It is thought to help cartilage regeneration by increasing water retention and suppleness. This relieves pain by cushioning the joints. Because of its moisturizing properties, chondroitin sulfate is sometimes included in cosmetic goods, particularly in skincare formulae where it aids in moisture retention. In addition, the therapeutic value of chondroitin sulfate in the treatment of osteoarthritis has been questioned, with conflicting findings. However, many people report symptom relief when using it. As the world's population ages, the prevalence of joint-related issues such as osteoarthritis rises, increasing demand for therapeutic supplements. With increased access to information and medical treatment, there is a growing awareness of the importance of joint health and preventive care, which is projected to drive the chondroitin sulfate market.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on "Global Chondroitin Sulfate Market Size, By Source (Bovine, Swine, Poultry, Shark, Synthetic, Others), By Form (Powder, Capsules), By Application (Nutraceuticals, Pharmaceuticals, Animal Feed, Personal Care & Cosmetics, Others), By Distribution Channel (Direct/B2B, Indirect/B2C, Drug Stores, Pharmacies, Online Retail, Others), By Geographic Scope and Forecast, 2023 – 2032."
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Chondroitin Sulfate Market Price Analysis
The chondroitin sulfate market's pricing structure is influenced by a combination of supply chain difficulties, raw material availability, and global demand developments. The main sources of chondroitin sulfate, such as bovine, porcine, and marine cartilage, have a substantial impact on cost. On the demand side, an aging population seeking osteoarthritis alleviation, combined with rising global awareness about joint health, supports a solid market appetite. This increased demand, particularly from key areas such as North America and Europe, is projected to drive up costs.
Chondroitin Sulfate Market Growth Analysis
The chondroitin sulfate market has grown significantly, owing to its therapeutic benefits for improving the condition of the joints. Its popularity as a component of dietary supplements for osteoarthritis management has risen dramatically, especially among the world's elderly. This generational shift, characterized by a rise in the number of people suffering from joint problems, provides a significant boost to market expansion. Furthermore, growing consumer awareness and education about osteoarthritis and joint health, fueled by healthcare campaigns and professionals, has improved chondroitin's market share. The proliferation of distribution channels, particularly e-commerce platforms, has made chondroitin sulfate products more accessible to a global audience, aiding the growth of the chondroitin sulfate market.
Insights by Source
The bovine segment accounted for the largest market share over the forecast period 2023 to 2032. This is owing to the increasing use of the source in a variety of application industries around the world, including as pharmaceuticals, personal-care goods and cosmetics, and nutraceuticals. Bovine chondroitin sulfate is a common source of this chemical and is obtained from bovine cartilage. It is commonly found in pharmaceuticals and dietary supplements. Furthermore, bovine chondroitin sulfate is a well-known market element that is well considered as a reliable and effective source.
Insights by Form
The capsules segment accounted for the largest market share over the forecast period 2023 to 2032. Chondroitin sulfate capsules are manufactured by encapsulating chondroitin sulfate powder in a soluble gelatin or cellulose shell. Capsules are intended to be swallowed and disintegrate in the stomach, releasing chondroitin sulfate. Capsules are convenient for customers since they provide pre-measured amounts, are easy to take, and can be used on the go. Capsules are a popular choice for daily vitamins because they are easy to include in a person's routine.
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Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Chondroitin Sulfate Market are TSI Group Ltd., Qingdao Wan Toulmin Biological Sources Co., Ltd., Hebei SanXin Industrial Group, Bioiberica SAU, Sigma Aldrich, Inc., ZPD, Sino Siam Biotechnique Company Ltd., BRF, Bio-gen Extracts Pvt. Ltd., Seikagaku Corp., Pacific Rainbow International, Inc., Sichuan Biosyn Pharmaceutical Co., Ltd., Inter Farma, Jiaxing Hengjie Bio-pharmaceutical LLC, Bioibérica S.A., Dextra Laboratories Limited and Others.
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Recent Market Developments
On June 2022, Eggnovo (Navarro, Spain) has inked an agreement with Nutralliance (Yorba Linda, CA) to represent and promote the company's Ovoderm and Ovomet components in the United States. The ingredients' principal purpose is to be used as a vegetarian collagen. Eggnovo's focuses on useful chicken eggshell components that can be used in the nutraceutical, cosmetic, and pharmaceutical industries.Developments
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2032.
Chondroitin Sulfate Market, Source Analysis
- Bovine
- Swine
- Poultry
- Shark
- Synthetic
- Others
Chondroitin Sulfate Market, Form Analysis
- Powder
- Capsules
Chondroitin Sulfate Market, Application Analysis
- Nutraceuticals
- Pharmaceuticals
- Animal Feed
- Personal Care & Cosmetics
- Others
Chondroitin Sulfate Market, Distribution Channel Analysis
- Direct/B2B
- Indirect/B2C
- Drug Stores
- Pharmacies
- Online Retail
- Others
Chondroitin Sulfate Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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