Chondroitin Sulfate Market 2020 and Forecast 2021-2027

                                          
Report Overview: Global Chondroitin Sulfate Market


The global chondroitin sulfate market size was valued at USD 1.13 billion in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 2.1% from 2021 to 2027. Increasing demand for nutraceutical products along with the prevalence of osteoarthritis is expected to drive the market growth over the forecast period 2021-2027. It is used mostly for treating osteoarthritis, cataracts, and urinary tract infections in the pharmaceutical grade, which is anticipated to drive the overall demand for the product over the forecast period. It is also used in the form of medicines to improve digestive function, enhance liver function, lower blood sugar, and inhibit tumor metastasis. The growing popularity for its use in the treatment of osteoarthritis and for several other treatments is expected to benefit the overall market growth.

Sodium chondroitin sulfate is also used in dietary supplements and food products as thickeners, additives, forming agent, preservatives, in health food, and in animal feed.  It is extensively used due to its ability to treat the pets suffering from joint pain and arthritis, including diseases such as chronic pain and aches from osteoarthritis, elbow dysplasia, and hip dysplasia. Food grade and animal feed grade applications are presumed to witness faster growth rate over conventional usage in the near future.

Europe & North America are the major regional markets for sodium chondroitin sulfate. The product has witnessed high adoption rate in developed economies such as Germany, the UK, and the U.S. in comparison to other emerging economies globally owing to the high prevalence of osteoarthritis in the countries, consumer awareness regarding osteoarthritis diagnosis, favorable government regulations concerning the treatment of osteoarthritis, and in developed healthcare infrastructure. Increasing R&D activities in developed economies to improve quality and reduce operational costs are anticipated to generate the demand over the forecast period.

Source Insights: Global Chondroitin Sulfate Market

Bovine led the market and accounted for more than 35.0% share of the global revenue in 2019. Bovine-derived sodium chondroitin sulfate is used in various applications including nutraceuticals, pharmaceuticals, and animal feed. Bovine cartilage is a by-product of beef industry, which is being generated on a large scale across the globe. Bovine by-products are already used for human consumption in various parts of the world. The aforementioned factors have prompted manufacturers to opt for bovine as a source.

Shark-derived product finds application in various industries including pharmaceuticals, nutraceuticals, and animal feed. Key players in the market are now concerned as the shark is now considered to be an endangered species, which may hamper the industry growth. However, sodium chondroitin sulfate sourced from shark is preferred on account of its ability to treat people infected with HIV, arthritis, and intestine inflammation, which is expected to further generate the demand over the forecast period.

Synthetic sodium chondroitin sulfate is manufactured using a two-staged fermentation-based process. The process excludes the use of animal cartilages, thereby, reducing the occurrence of contamination and adulteration. In addition, the extraction process is less complicated, thus, resulting in low production costs. Moreover, the demand for synthetic chondroitin is expected to grow in the Asian and the Middle Eastern countries as the product is not of animal origin, thus, serving as an alternative for vegetarian people with religious and dietary restrictions.

Application Insights: Global Chondroitin Sulfate Market

Nutraceuticals led the market and accounted for more than 36.0% share of the global revenue in 2019. Sodium chondroitin sulfate is widely used in the nutraceutical industry as a dietary supplement for the treatment of osteoarthritis and joint pain. They are consumed to ease the pain caused by arthritis and to strengthen joints, cartilages, and bones. The product is categorized considering the national legislation of each country. In the U.S., it is sold as a dietary supplement and taken in conjunction with glucosamine to treat arthritis pain. Increased consumption of dietary supplements in developed economies such as the U.S. is anticipated to drive industry growth.
It is sold as a prescription drug under the European Medicines Agency in Europe. Another application includes its insertion into the bladder for urinary tract infections (UTIs), bladder conditions, or loss of bladder control. Increased consumption of sodium chondroitin sulfate in pharmaceutical applications such as heart diseases, eye drops, joint pain, and osteoarthritis is anticipated to drive the market.

Sodium chondroitin sulfate is used in food preparations in the form of thickener, forming agent, and preservative. It is used in various food applications including beverages, chewing gums, and dairy products. The company’s food-grade products, under the brand name ScanDroitin, are manufactured in compliance with GMP system and principals to offer high-quality. Favorable government regulations concerning the consumption of the product as a food additive are projected to drive the market.

Regional Insights: Global Chondroitin Sulfate Market

North America lead the market and accounted for over 35.0% share of global revenue in 2019. The growth in the region can be attributed to the booming pharmaceutical industry in the U.S. coupled with FDA approval for using sodium chondroitin sulfate infused products. Factors such as high prevalence of osteoarthritis and increased use in treating cholesterol, cataract surgery, and eye drop formulations are anticipated to generate the demand.
Asia Pacific is estimated to be the fastest-growing region, with a CAGR of 2.3% over the forecast period owing to the high prevalence of osteoarthritis and rising consumer awareness regarding dietary supplements. In 2019, Asia Pacific was the second-largest regional market, which can be attributed to the expansion of end-use industries including nutraceutical, pharmaceutical, personal care, and cosmetics. Increasing production of the product in the region and increasing exports from key countries such as China and Japan are anticipated to contribute to the industry growth.

Key Companies & Market Share Insights: Global Chondroitin Sulfate Market

The chondroitin sulfate market is highly fragmented owing to large number of manufacturers present especially in China. The competitive rivalry in the market is high owing to increasing investments in R&D for product innovation and increasing the efficiency of the product. High competition concerning the final prices of the product and shifting focus of manufacturers on increased utilization of natural extracts thus indicates high competitive rivalry. Manufacturers are focusing on sourcing sustainable raw materials along with efficient manufacturing processes. Players are shifting toward high-purity content cartilage to manufacture the products. For instance, ZPD offers various types of sodium chondroitin sulfate components for the pet food manufacturers compliant with requirements such as different grades comprising 20%, 40%, and 80% of sodium chondroitin sulfate. Industry players are investing in R&D and focusing on developing new products along with reducing the operational cost of the product.

Key manufacturers in developed economies such as the U.S., France, Germany, and the UK supply majority of the sodium chondroitin sulfate to key players in the nutraceutical and pharmaceutical sectors. The growth in this market can be attributed to the prevalence of osteoarthritis and the increasing consumption of dietary supplements. Some prominent players in the chondroitin sulfate market include:

Key companies Profiled: Global Chondroitin Sulfate Market Report

 	
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

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2016 to 2027. For the purpose of this report, Trusted Business Insights has segmented chondroitin sulfate market on the basis of source by application, and region:

Source By Application Outlook (Volume, Tons; Revenue, USD Million; 2016 - 2027)

 	
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