Chondroitin Sulfate Market Worth $1.4 Billion by 2025 | CAGR: 3.2%: Grand View Research, Inc.

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Aug 14, 2019, 05:35 ET

SAN FRANCISCO, Aug. 14, 2019 /PRNewswire/ -- The global chondroitin sulfate market size is expected to reach USD 1.4 billion by 2025, accelerating at a CAGR of 3.2% over the forecast period, according to a new report by Grand View Research, Inc. Increasing consumption of joint health supplements owing to rising prevalence of arthritis among obese and geriatric population is projected to drive the product demand.

Key suggestions from the report:

The U.S. market, in terms of volume, is anticipated to reach 603.5 tons by 2025
Chondroitin sulfate is regulated and approved as a symptomatic slow-acting drug for osteoarthritis (SYSADOA) in Europe and its intake is preferred along with glucosamine
NutriScience Innovations, LLC, a prominent manufacturer of sodium chondroitin sulfate in the U.S., uses raw materials of European origin and produces high-quality chondroitin sulfate 90% USP without using any organic solvent
TSI Group Ltd.; Qingdao Wan tulmin 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; and SEIKAGAKU CORPORATION are some of the key companies present in the chondroitin sulfate market.

Read 229 page research report with TOC on "Chondroitin Sulfate Market Size, Share & Trends Analysis Report By Source (Synthetic, Bovine, Swine, Poultry, Shark), By Application (Nutraceuticals, Pharmaceuticals, Animal Feed, Personal Care), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/chondroitin-sulfate-market

Clinical efficacy and joint health benefits offered are the major factors triggering the demand for the product. Rising utilization of pharmaceutical grade sodium chondroitin sulfate to cure osteoarthritis is projected to drive industry growth. The market is highly influenced by Chinese dominated product supply, which as per the international nutraceutical industry is inferior and variable in terms of quality, concentration, has missing traceability, and subject to intentional adulteration. Therefore, manufacturers and raw material suppliers have numerous opportunities to supply quality and uniform products through auditable supply chain.

Challenges faced by the industry include adulteration of sodium chondroitin sulfate and the introduction of new joint health ingredients. Fluctuating raw material prices are anticipated to have a negative impact on the product. However, increasing focus on cost-effective process is likely to bolster the volumetric production. The U.S., Germany, the U.K., Japan, and Brazil, among other countries, are the major potential markets for pharmaceutical as well as nutraceutical grade sodium chondroitin sulfate.

The market is fragmented and competitive and marked with the presence of key players across the globe, especially in China. Asian countries, especially Japan and China, are expected to observe remarkable growth over the forecast period. Regional jurisdiction, regulatory scenario, and the availability of raw materials are likely to be regional challenges for the industry.

Grand View Research has segmented the global chondroitin sulfate market report on the basis of source and region:

Chondroitin Sulfate Source Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

Bovine

Nutraceuticals
Pharmaceuticals
Animal Feed
Personal Care & Cosmetics
Others

Swine

Nutraceuticals
Pharmaceuticals
Animal Feed
Personal Care & Cosmetics
Others

Poultry

Nutraceuticals
Pharmaceuticals
Animal Feed
Personal Care & Cosmetics
Others

Shark

Nutraceuticals
Pharmaceuticals
Animal Feed
Personal Care & Cosmetics
Others

Synthetic

Nutraceuticals
Pharmaceuticals
Animal Feed
Personal Care & Cosmetics
Others

Chondroitin Sulfate Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

North America

U.S.
Canada
Mexico

Europe

UK
Germany
France
Italy
Spain

Asia Pacific

China
Japan
India
Australia
South Korea
Taiwan

Central & South America

Argentina
Chile
Colombia
Brazil

Middle East & Africa

South Africa

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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