Industry Background:
The Glucosamine and Chondroitin Sulfate market is expected to witness high demand in the forecasted period due to the increasing demand for nutraceutical products along with the prevalence of osteoarthritis. Chondroitin sulfate used in combination with ingredients, such as manganese ascorbate, glucosamine hydrochloride, and others treats osteoarthritis. Many of the uses of chondroitin sulfate are approved by the FDA. Chondroitin sulfate is mostly used to treat osteoarthritis, cataract, and urinary tract infections, which is anticipated to drive the overall demand for the product over the forecast period. It is also used in the form of medicines to improve digestive function, enhance liver function, lower blood sugar, and inhibit tumor metastasis.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Shandong Runxin Biotechnology (China), TSI Group (Canada), Synutra Ingredients (United States), Yantai Ruikangda Biochemical Products (United States), S.A.U. Seikagaku Corporation (Japan), Qingdao WanTuMing Biological Products (China), Sioux Pharm (United States), Pacific Rainbow International (United States), Summit Nutritionals International (United States) and Bioiberica (Spain) |
According to AMA, the market for Glucosamine and Chondroitin Sulfate is expected to register a CAGR of 5.9% during the forecast period to 2030. This growth is primarily driven by Increasing Application in Various End-User Industries and The Growing Demand for Dietary Supplements.
Globally, a noticeable market trend is evident The Rising Health-Conscious Customers and The Aging Population for Joint Health Supplements
The Pharmaceuticals sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Shandong Runxin Biotechnology (China), TSI Group (Canada), Synutra Ingredients (United States), Yantai Ruikangda Biochemical Products (United States), S.A.U. Seikagaku Corporation (Japan), Qingdao WanTuMing Biological Products (China), Sioux Pharm (United States), Pacific Rainbow International (United States), Summit Nutritionals International (United States) and Bioiberica (Spain), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Leading key players are focusing on strategic partnerships to improve their products and services. Companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Key Developments in the Market:
In April 2023, Koninklijke DSM N.V. announced its intention to acquire the Nutrition & Health business of ADM for €3.4 billion. This deal would expand DSM's presence in the dietary supplement market, including glucosamine and chondroitin products.
In March 2023, Arjuna Natural Extracts Ltd. and NutraIngredients.com partnered to launch a new online platform for sourcing and selling natural ingredients, including glucosamine and chondroitin.
Influencing Trend:
The Rising Health-Conscious Customers and The Aging Population for Joint Health Supplements and The Increasing Use of Sodium Chondroitin Pharmaceutical Grade Sulfate
Market Growth Drivers:
Increasing Application in Various End-User Industries and The Growing Demand for Dietary Supplements
Challenges:
The Stringent Government Regulations Associated with Glucosamine and Chondroitin Sulfate
Restraints:
Fluctuating Raw Material Prices
Opportunities:
Increased Application of Chondroitin Sulfate as an Anti-Inflammatory and Soothing Agent in Cosmetic Products
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Glucosamine and Chondroitin Sulfate Market
- Analysis about New Entrants in Glucosamine and Chondroitin Sulfate Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Glucosamine and Chondroitin Sulfate Study Sheds Light on
The Glucosamine and Chondroitin Sulfate Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Glucosamine and Chondroitin Sulfate industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Glucosamine and Chondroitin Sulfate industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.