Chondroitin Sulfate Market

Market Overview

The global chondroitin sulfate market size is valued at USD 1543.20 million in 2023. It is expected to grow to USD 2095.78 million by 2032. The market is expected to grow at a CAGR of 3.9% during the forecast period (2024–2032). The global chondroitin sulfate market is expected to grow at a faster rate as more people are using it as an alternative way to treat osteoarthritis. Chondroitin sulfate is usually made from the cartilage of animals like sharks, cows, pigs, and other marine animals. The cartilages are waste products that come from killing animals. The chondroitin sulfate is a long chain of sugars like N-acetylgalactosamine and glucuronic acid. Chondroitin sulfate is usually found in the cartilages and joints of the body, as well as in the connective tissues. When you eat chondroitin sulfate regularly, your joints will work better.

Chondroitin sulfate can also be used as an eye drop for people with dry eyes and for animals. Meat and products made from meat have a big effect on market demand. The market has grown because more people are eating meat, and more people are buying meat by-products from the pet food industry. Lungs, livers, brains, kidneys, and spleens are good sources of nutrients and are used in many industries.

Market Dynamics

• Prevalence of Osteoarthritis, along with the increasing demand for the Nutraceuticals & Pharmaceutical industry is driving the market forward

Osteoarthritis is one of the most common conditions that affect the muscles and joints in people over the age of 65. It affects the joints, makes it hard to move, and hurts that area. Chondroitin sulfate is used to treat osteoarthritis to reduce pain, slow the progression of the disease, and make the symptoms better. Osteoarthritis is becoming more common in developed economies like the U.S. and the U.K., among others. This is expected to increase the demand for chondroitin sulfate as a treatment for the disease. Over the next ten years, doctors expect to see a rise in the number of people who have arthritis. By 2030, arthritis is expected to affect about 65 million people in the United States, with about two-thirds of those people being women. According to the Centers for Disease Control and Prevention (CDC), 11.4% of adults in the U.S. have noticed that their activities are limited because of their arthritis. Demand for sodium chondroitin sulfate to treat osteoarthritis is expected to go up because there are more people with arthritis in the country.

• Increasing demand for Nutraceuticals & Pharmaceutical industry paving a progress path for the Chondroitin Sulfate Market

Chondroitin sulfate is expected to be in high demand from food and supplement makers over the next few years. This is because the population is getting older, healthcare costs are going up, and people are becoming more aware of self-management and preventive care. Also, as the population ages and more people become health-conscious, there is more demand for chondroitin sulfate to be used in joint health supplements to reduce joint pain. This increases its use in the pharmaceutical industry. Chondroitin sulfate is used in nutraceuticals because it helps heal and prevent disease and is good for your health.

The market for nutraceutical products is divided into three groups: functional drinks, functional foods, and dietary supplements. The use of chondroitin sulfate is growing because people are spending more money on organic and healthy foods. The World Industry Outlook says that the total amount spent on health care around the world will go from USD 8.7 trillion in 2020 to USD 11 trillion by 2030. The growing number of older people, the growth of the nutraceutical and pharmaceutical markets, and advances in technology and medicine are all likely to drive up spending. Over the next few years, the demand for chondroitin sulfate is expected to rise due to the growing use of pharmaceutical and nutraceutical products in developed economies.

• Increased Demand from Pet Food Industry Driving Market Growth

Chondroitin sulfate is used as a bioactive supplement in animal food because it is good for their health in many ways. It is an important part of pet food and veterinary supplements that help keep animals from having problems with hip dysplasia or arthritis. Chondroitin sulfate is also in demand because it makes pets healthier and more active by making their joints move better. This is likely to increase the demand for the product in feed grade. The market for pet food is expected to grow because more pets are getting older and have different dietary needs and preferences.

Market Restraints:

• Fluctuating Raw Material Prices a Major Barrier to the Growth of the Chondroitin Sulfate Market 

Chondroitin sulfate is found in the cartilage of many animals, including cows, sharks, chickens, pigs, and others. The process of getting chondroitin sulfate from these sources is complicated because the product can get messed up during removal, which can make it harmful to eat. Because of this, this extraction process takes a lot of money because the quality and purity of the final product must be kept. The raw material that is used to make chondroitin sulfate is in high demand because it is being used more and more in nutraceutical and pharmaceutical products.

The demand for cartilage from these animals has gone up because more people in developed countries are getting sick and because cartilage products help people feel better after they get sick. The prices of cartilage and its products have gone up. To get things like sodium chondroitin sulfate out of cartilage, you need a lot of money, and the product should also go through several purification steps to make sure it is not tampered with. Also, the changing prices of cartilages are likely to raise the costs of making chondroitin sulfate, which is likely to slow the growth of the market.

Market Opportunities:

• Growing Pharmaceuticals Needs Creating Numerous Opportunities for the Global Chondroitin Sulfate Market Growth

The growing pharmaceutical industry globally should give companies that make pharma-grade chondroitin sulfate a lot of business opportunities. Also, osteoarthritis and a rise in the number of older people globally are expected to drive the market for dietary supplements, which will likely drive the demand for chondroitin sulfate. Chondroitin sulfate can now be used in food and dietary supplements in the United States. As more people learn that chondroitin sulfate can help with joint health problems, the product is likely to get more opportunities in the nutraceuticals market. Also, the growing popularity of dietary supplements with chondroitin sulfate in the country is likely to give opportunities to manufacturers and suppliers in the market. 

Gnosis S.p.A. in Italy plans to make synthetic chondroitin sulfate, which is expected to lower the product's operational costs and help it avoid complicated manufacturing processes. This is also expected to help the market grow. Manufacturers should have a lot of chances to make synthetic products that are high quality and cheap, thanks to these kinds of product innovations. There are no veterinary checks on nutraceuticals with chondroitin sulfate that are meant to be eaten directly. Products made must follow USP and GMP standards to make sure they are of high quality and follow the standard manufacturing process. With all these factors, a wave of opportunities is arriving in the chondroitin sulfate market share.

Regional Analysis

The chondroitin sulfate market is primarily segmented into four regions, namely North America, Europe, Asia-Pacific, and Central & South America. The North American region is the most dominant of all the four regions. It stands at a market value of USD 478.09 million in 2023 and is expected to reach USD 605.89 million by 2032 at a CAGR of 3.2%. The reason behind the growth of the chondroitin sulfate market in the North American region is the booming pharmaceutical industry coupled with the FDA approval of using sodium chondroitin sulfate infused products.

Europe is the second most dominant region after North America, which has a market share of USD 298.56 million in 2023 and is anticipated to grow to USD 390.89 million by 2032 at a CAGR of 3.5%. Asia-Pacific also contributes its share to the overall growth and development of the chondroitin sulfate market, with a market value of USD 343.78 million in 2023 and expected to reach USD 445.09 million by 2032 at a CAGR of 3.8%. Central & South America is the fourth region that has a market value of USD 116 million in 2023 and growing at a constant pace to USD 165.89 million by 2032 at a CAGR of 3.1%.

Segmental Analysis

Growth of the chondroitin sulfate market is segmented by source and by application. By source, the said market is further classified into Bovine, Poultry, and Swine, from which the Bovine category wins the race of market value that stood at USD 492.09 million in 2023 and is expected to reach USD 663.40 million by 2032 at a CAGR of 3.3%. Chondroitin sulfate comes from bovine bone and cartilage. It is found in tissues made of cartilage, like the trachea, ear, and nose. Swine is the second dominant category of the said market segment, which has a market valued at USD 391.30 million in 2023 and is expected to grow to USD 454.30 million by 2032 at a CAGR of 3.2%.

Chondroitin sulfate comes from the cartilage in swine's ears and snouts. The product is used for many things, like medicine, animal feed, and health supplements. But Asia and the Middle East do not let people use chondroitin sulfate made from pigs because it could hurt the religious feelings of the people residing in the region and can cause huge conflicts between religious groups. Poultry is the third dominant category in the said segmentation that accounts for a market value of USD 207.30 million in 2023 and is expected to reach USD 258.40 million by 2032 at a CAGR of 2.6%.

Chondroitin sulfate can be found in chicken knuckles and claws and also could be taken from the knee cartilage of a chicken, which is one of the possible sources. Knee cartilage is on the mount of the body and is easy to get for chondroitin extraction after the chicken breast fillets have been taken off. The amount of chondroitin you get from knee is between 30% and 75%. Chondroitin sulfate is also found in large amounts in the chicken claw cartilage, which is another important source which is why poultry is also having its share in the overall growth of the chondroitin sulfate market.

Segmentation by application of the chondroitin sulfate market involves nutraceuticals, pharmaceuticals and animal feeds. Out of these three, the nutraceuticals have a major market share of USD 442.09 million in 2023 and are anticipated to grow to USD 594.08 million by 2032 at a CAGR of 3.4%. Chondroitin sulfate is used a lot as a dietary supplement to treat osteoarthritis and joint pain in the nutraceutical industry as they are used to ease the pain of arthritis and strengthen bones, joints, and cartilage. This is why nutraceuticals owe the major share of the chondroitin sulfate market.

The second dominating category in the said segmentation is the Pharmaceutical industry which has a market value of USD 398.89 million in 2022 and is expected to grow to USD 593.09 million by 2032 at a CAGR of 3.6%. Chondroitin sulfate is used as a raw material to make medicines like eye drops to treat dry eyes and other medical implications. Also, it is injected into the eye during cataract surgery to reduce the pressure on the eyes while operating. The third and the least dominant category by application among the other two is animal feed. Animal feed makes use of Chondroitin sulfate and glucosamine hydrochloride as supplements which is why it has a substantial market value that stood at USD 188.07 million in 2023 and progressed to USD 261.09 million by 2032 at a CAGR of 3.2%.

Impact of covid-19

The COVID-19 pandemic has affected a number of economies in different ways, such as by hurting companies' finances, upsetting markets and supply chains, and changing how much is made and how much is spent. Supply chain problems like not getting raw materials and ingredients from third-party logistics caused a lot of trouble and affected both the market's operational and financial performance. Due to the fact that many countries around the world shut down for long periods of time, both the demand for finished products and the manufacturing plants suffered.

 So, both ends of the supply chain had an effect on the market. As Doctors are putting more effort into treating Covid-19, the demand is not likely to have gone away completely. This is because chondroitin sulfate is used in nutraceuticals and pharmaceuticals to treat and manage conditions like dry eyes, heart disease, osteoarthritis, and urinary tract infections. Since chondroitin sulfate will be used in research and development in the coming years, the market is expected to grow a lot. Also, as the global vaccination campaign moves forward and the virus spreads less, the market is likely to grow because there will be more demand for end-user products.

Recent Developments

• In January 2022, Seikagaku Corporation expanded its operations in Canada by establishing a new operational facility in the country to capture the American market.
• In March 2022, Bioiberica S.A.U partnered with ByHealth in China to meet the consumer's needs for innovative, low-dose joint health solutions.
• In February 2022, Sigma Aldrich Inc acquired Exelead and plans to invest more than €600 million for technology scale-up.