Global Chondroitin Sulfate Market to Grow with a CAGR of 3.37% through 2028
Rising demand of chondroitin sulfate in animal feed industry is expected
to drive the Global Chondroitin Sulfate Market growth in the forecast period,
2024-2028.
According to TechSci Research report, “Chondroitin
Sulfate Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global Chondroitin Sulfate Market stood at USD1.04
billion in 2022 and is anticipated to grow with a CAGR of 3.37% in the forecast
period, 2023-2028. The initiatives taken by government based on chondroitin
sulfate has led to favorable market conditions for the Global Chondroitin
Sulfate Market. Several factors contribute to the growth of various chondroitin
sulfate market products.
Several
government health agencies, including the National Center for Complementary and
Integrative Health (NCCIH) and the Mayo Clinic, have recognized the efficacy of
chondroitin sulfate in managing osteoarthritis. The NCCIH has even published a
comprehensive fact sheet that highlights the safety and effectiveness of
chondroitin sulfate specifically for osteoarthritis.
Furthermore, the
Mayo Clinic acknowledges the growing body of evidence that supports the use of
glucosamine sulfate, either alone or in combination with chondroitin sulfate,
for the treatment of knee osteoarthritis. These findings provide valuable
insights into the potential benefits of these supplements in improving joint
health and managing the symptoms of osteoarthritis.
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Chondroitin
sulfate, an essential bio-supplement in the animal feed industry, plays a
crucial role in helping animals avoid and treat conditions such as arthritis
and hip dysplasia. In addition to these benefits, it offers a range of other
health advantages. Veterinary supplements and animal feeds widely incorporate
Chondroitin sulfate due to its positive impact on overall animal health. By
promoting better joint mobility and functioning, Chondroitin sulfate helps keep
pets active and healthy.
For instance,
Zeria Group (ZPD) offers a variety of concentrations, including different grades
containing 20%, 40%, and 80% chondroitin sulfate, tailored to meet the specific
requirements of pet food manufacturers in the industry. With its numerous
applications and proven effectiveness, Chondroitin sulfate continues to be a
valuable component in promoting the well-being of animals.
The Global
Chondroitin Sulfate Market is segmented into source, application, regional
distribution, and company.
Based on its source, the synthetic segment held the
largest share in the market. Synthetic sodium chondroitin sulfate is produced
through a meticulous two-stage fermentation-based technique. This advanced
process ensures that no animal cartilage is utilized, minimizing the risk of
contamination and adulteration. Moreover, the simplicity of the extraction
process contributes to low sourcing costs, making it an economically viable
option. By leveraging this innovative approach, the production of high-quality
synthetic sodium chondroitin sulfate is achieved, meeting the demands of
various industries.
Based on region, North America segment is expected to
grow during the forecast period.
The rising pharmaceutical sector in the United States,
coupled with the FDA's approval for the use of products containing sodium
chondroitin sulfate, has attributed to the growth of this industry.
Furthermore, the demand for chondroitin sulfate is expected to be fueled by
various factors. These include the increasing prevalence of osteoarthritis, the
rising usage of cholesterol treatment, cataract surgery, and the formulation of
eye drops. It is worth noting that chondroitin sulfate finds applications not
only in the pharmaceutical industry but also in the cosmetics, culinary, pet
food, and veterinary industries within Europe. In the field of dietary
supplements, chondroitin sulfate is considered an alternative therapy for the
treatment of osteoarthritis.
Major companies operating in Global Chondroitin
Sulfate Market are:
- TSI Group Ltd.
- Qingdao Wan Toulmin
Biological Products Co., Ltd
- Hebei Sanxin Steel Structure
Co Ltd
- Bioiberica S.A.U.
- Sigma-Aldrich, Inc.
- Sino Siam Biotechnique
Company Limited
- Bio-gen Extracts Private
Limited
- Zpd A/S
- SEIKAGAKU CORPORATION
- BRF SA
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“Growing application of chondroitin sulfate in various
end user industries are key drivers of the chondroitin sulfate market. Growth
in competitive landscape and presence of well-established companies in the
market who are dedicated to enhance their productivity of chondroitin sulfate with
every passing year are anticipated to register an impressive growth to Global
Chondroitin Sulfate Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Global Chondroitin Sulfate Market By
Source (Bovine, Poultry, Synthetic, Swine, Shark), By Application (Nutraceuticals,
Personal Care & Cosmetics, Animal Feed, Pharmaceuticals, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Chondroitin Sulfate Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Chondroitin Sulfate Market.
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