LONDON--(BUSINESS WIRE)--The global chondroitin sulfate (CS) market is expected to post a CAGR of more than 3% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Globally, the demand for dietary supplements has increased significantly over recent years. This is due to the increasing costs of hospitalization, rising working population, and changing consumer lifestyles. Dietary supplements are effective in lowering various health problems such as arthritis and osteoporosis. For instance, the regular intake of dietary supplements such as chondroitin sulfate improves joint functions and reduces the progression of osteoarthritis. Moreover, the availability of dietary supplements in the form of tablets, edible bars, shakes, and drinks have increased their consumption. With rising consumer awareness about healthy nutrition intake, the growth of the global chondroitin sulfate market will gain momentum during the forecast period.
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As per Technavio, the introduction of non-animal-based CS will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Chondroitin Sulfate Market: Introduction of Non-Animal-Based CS
Vendors in the market are focusing on the manufacture of vegan chondroitin sulfate using plant extracts. This is ensuring vegan alternatives for people with dietary and religious restrictions. Some vendors are also focusing on reducing the protein content and over-sulfated saccharides in chondroitin sulfate products. These products will be made suitable for dietary supplements, beverages, and other conventional foods. Therefore, the advent of non-animal-based chondroitin sulfate products is expected to have a positive impact on the growth of the market during the forecast period.
“The growing geriatric population and the increasing use of prevalence of CS in nutricosmetics will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Chondroitin Sulfate Market: Segmentation Analysis
This market report segments the global chondroitin sulfate market by application (nutraceuticals, pharmaceuticals, animal feed, and personal care) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the increasing prevalence of cataract and osteoarthritis in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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