Chondroitin Sulfate Market Poised to Reach US$ 773.7 Mn by 2026

Persistence Market Research

NEW YORK, January 16, 2019 /PRNewswire/ --

The demand for chondroitin sulfate is expected to increase in the near future at a higher rate from dietary supplement manufacturers

The latest report on the chondroitin sulfate market was published by Persistence Market Research, titled, Chondroitin Sulfate Market: Global Industry Analysis 2013-2017 and Forecast 2018-2026'. The chondroitin sulfate market is expected to reach US$ 569.6 Mn in terms of value by the end of 2018, and is forecasted to reach US$ 773.7 Mn by 2026 in terms of sales revenue. The overall global value of the chondroitin sulfate market is expected to grow in a CAGR of 3.8% in terms of sales revenue from 2018 to 2026.

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It has been observed that there is tough competition and fragmentation in the global chondroitin sulfate market. It is believed that chondroitin sulfate is consumed more in the pharmaceuticals and nutraceuticals end-use segment when compared to the other end-use segments such as cosmetics, personal care, aqua feed, and veterinary supplements. The improved usage of chondroitin sulfate in the pharmaceuticals and nutraceuticals segment is one of the major factors creating a good impact on the overall chondroitin sulfate market. Due to the high demand for joint health-related supplements from consumers and patients suffering from arthritis and osteoarthritis, it is expected that the chondroitin sulfate market would experience high growth during the forecast period.

The competition scenario in the chondroitin sulfate market is high, owing to the presence of organized players in this market. This will give rise to various novel supplement products, which includes chondroitin sulfate. This factor is expected to enhance the growth of the chondroitin sulfate market over the years (2018 -2026).

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Chondroitin Sulfate Market Analysis 

By source segment, the bovine sub-segment is expected to have a prominent place in the global chondroitin sulfate market, with a revenue share of 34.8% by the end of 2018. But this segment is expected to remain stagnant in the chondroitin sulfate market throughout the forecast period by maintaining the same market share. The fish, shark, and crocodile sub-segment is expected to hold the second-largest market share in the global chondroitin sulfate market in terms of value. It is estimated to have 33.7% share by the end of 2018, and is expected to rise to 34.5% by the end of 2026 in the global chondroitin sulfate market. These two source sub-segments are expected to hold 50% share of the whole global chondroitin sulfate market. There are other source segments such as porcine, poultry, and others. It is estimated that these source segments are expected to hold 21.1%, 7.4%, and 3.5% in 2018, respectively, in the global chondroitin sulfate market. These source segments are forecasted to hold 34.5%, 7.0%, and 3.1%, market share, respectively, in terms of value in the chondroitin sulfate market by the end of 2026.