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

Find more research reports on Renewable Chemicals Industry, by Grand View Research:

• Biodegradable Paper And Plastics Packaging Market – Increasing consumer awareness towards eco-friendly products is expected to be key factor driving biodegradable paper and plastics packaging market over the next seven years.
• Soybean Oil-based Lubricants Market – Growing environmental concerns towards reducing green house emissions coupled with shifting reliance on crude oil as a raw material in chemical industry is expected to be key driver for soybean oil-based lubricants market over the forecast period.
• Biogas Generator Market – Global biogas generator market is expected to witness growth over the forecast period on account of shifting focus from conventional energy sources such as coal, gas and crude oil to renewable alternatives such as wind, solar and tide.

Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports

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.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com 
Web: https://www.grandviewresearch.com 
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg

SOURCE Grand View Research, Inc.