The latest report on “Chondroitin Sulfate Market (Source – Poultry, Bovine, Porcine, and Other Sources; Application – Pharmaceutical, Cosmetics, Dietary Supplements, Veterinary Use, and Other Applications): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global chondroitin sulfate market is projected to grow at a CAGR of 3.2% over the forecast period of 2019-2025.
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Chondroitin sulfate is a natural chemical compound found in cartilage around the bone joints in the human body. It can be manufactured from an animal source such as shark, porcine, and other marine sources. The growing adoption of chondroitin sulfate in a variety of applications propels the market growth. Companies are adopting strategies such as mergers, acquisitions, and new product launches that maximize their market share in the global chondroitin sulfate market.
The rising use of chondroitin sulfate in different end-use industries stimulates the growth of the chondroitin sulfate market. The growing use of chondroitin sulfate in joint pain treatment and inflammation drives the growth of the chondroitin sulfate market. Chondroitin sulfate has the ability to slow down the cartilages tearing propelling its use in osteoporosis. The increasing pharmaceutical and personal care industry contribute to the growth of the chondroitin sulfate market. Chondroitin sulfate is used in lotions, creams, and other cosmetic products owing to its beneficial properties such as anti-inflammatory and it moisturizes and soothes the skin.
In addition, the increasing use of chondroitin sulfate in the pet food industry promotes the growth of the chondroitin sulfate market. On the other hand, fluctuations in raw material cost restraints the growth of the chondroitin sulfate market. Moreover, research and development encourage innovative applications of chondroitin sulfate that creates numerous opportunities for the growth of the chondroitin sulfate market.
On the basis of geography, the global chondroitin sulfate market is segmented into North America, Asia-Pacific, Europe, and the Rest of the World. North America is anticipated to hold a dominant share in the global chondroitin sulfate market. The rising adoption of pets and the growing pet food industry in North America drives the growth of the chondroitin sulfate market in North America.
Asia-Pacific Region is Expected to Grow in the Global Chondroitin Sulfate Market
Asia-Pacific region is expected to grow in the global chondroitin sulfate market with a significant CAGR of the chondroitin sulfate market. The increasing prevalence of orthopedic diseases due to a sedentary lifestyle in the Asia-Pacific region contributes to the growth of the chondroitin sulfate market in Asia-Pacific. Europe is showing growth in the global chondroitin sulfate market due to the increasing use of personal care products and the rising use of chondroitin sulfate in cosmetic products.
The report on the global chondroitin sulfate market covers segments such as source, and application. On the basis of source, the sub-markets include poultry, bovine, porcine, and other sources. On the basis of application, the sub-markets include pharmaceutical, cosmetics, dietary supplements, veterinary use, and other applications.
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The report provides profiles of the companies in the market such as Shandong Runxin Biotechnology Co., Ltd., Pacific Rainbow International, Inc., Sioux Pharm, Inc., TSI Group Ltd., Synutra International, Inc., Yantai Ruikangda Biochemical Products Co., Ltd., Summit Nutritionals International, Inc., Bioiberica, S.A.U., Seikagaku Corporation, and Sioux Pharm, Inc.
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