The global chondroitin market is expected to reach approximately USD 1.6 billion by 2032, growing from USD 1.2 billion in 2022. The market is projected to advance at a compound annual growth rate (CAGR) of 2.8% over the forecast period from 2022 to 2032.
The growing prevalence of obesity and heightened demand from the veterinary sector are anticipated to drive increased demand for chondroitin. Additionally, sales are expected to surge due to the rising use of chondroitin in pharmaceutical applications and increased consumer spending on personal care products.
Various Health Benefits of Chondroitin is Increasing its Demand in the Global Market
Chondroitin along with other ingredients such as glucosamine is being used in dietary supplements due to its various health benefits. The use of chondroitin in the treatment of osteoarthritis has been very popular but it is being used for the treatment of various other problems too.
Chondroitin is being used in the drugs for heart problems, breast cancer, interstitial cystitis, psoriasis, and many other diseases. It is also being used to treat anemia in complex with iron. These benefits have led to the increased use of chondroitin in dietary supplements. The use of chondroitin is not only limited to nutraceuticals but is also being used as a pharmaceutical drug along with others. It is being used as an eye drop and has been approved by the FDA for the same purpose. The use of chondroitin in the cosmetics industry is very less but it is expected to grow in the upcoming years.
Chondroitin Market: Key Developments
Many manufacturers sell the dietary supplements and their label indicates the presence of chondroitin in them. But the quantity of chondroitin is as little as 10% which results in low-quality products. But many manufacturers are trying to clean up the supply chain of chondroitin. Synutra Ingredients is using gel electrophoresis to stop adulteration of chondroitin and is one of the leading manufacturers of chondroitin in the United States.
Key Companies Profiled
- TSI Group Ltd.
- Synutra Pure, Ltd.
- Bioiberica S.A.U.
- Kala Health Inc.
- Shanghai Jbichem International Trading Co. Ltd.
- Summit Nutritionals
- International, Inc.
- Pacific Rainbow International, Inc.
- Qingdao Kangyuan Pharmaceutical
- Beloorbayir Biotech Ltd.
- AdvaCare Pharma
- Sichuan Biosyn Pharmaceutical Co., Ltd.
- Inter Farma
- Jiaxing Hengjie Bio-pharmaceutical LLC
- Seikagaku Corporation
Key Segments Profiled in the Chondroitin Market Survey
By Source:
- Marine
- Bovine
- Avian
- Others {Chicken, Cow, etc.)
By Form:
- Powder
- Capsules
By Grade:
- Pharmaceutical Grade
- Industrial Grade
By Application:
- Sports Nutrition
- Pharmaceuticals
- Dietary Supplements
- Cosmetics and Personal Care
By Distribution Channel:
- Direct/B2B
- Indirect/B2C
- Drug Stores
- Pharmacies
- Online Retail
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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