Chondroitin Market Outlook
Chondroitin is a component of the human body in the bones and cartilages. It is also popularly called as chondroitin sulfate. The use of chondroitin is mainly in the dietary supplements used for osteoarthritis. Chondroitin sold on a commercial basis is obtained from the cartilages of various sources such as marine, bovine, avian, chicken and cow. The shark cartilage is known to be the best chondroitin source and is also very expensive.
The use of chondroitin in households is mostly in the form of capsules. The powder form of the chondroitin is used in the pharmaceuticals and the industries that use chondroitin as an ingredient as a whole or in combination with other chemicals or drugs.
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Various Health Benefits of Chondroitin is Increasing its Demand in the Global Market
Chondroitin along with other ingredients such as glucosamine is being used in dietary supplements due to its various health benefits. The use of chondroitin in the treatment of osteoarthritis has been very popular but it is being used for the treatment of various other problems too. Chondroitin is being used in the drugs for heart problems, breast cancer, interstitial cystitis, psoriasis, and many other diseases. It is also being used to treat anemia in complex with iron. These benefits have led to the increased use of chondroitin in dietary supplements. The use of chondroitin is not only limited to nutraceuticals but is also being used as a pharmaceutical drug along with others. It is being used as an eye drop and has been approved by the FDA for the same purpose. The use of chondroitin in the cosmetics industry is very less but it is expected to grow in the upcoming years.
Chondroitin Market: Segmentation
The chondroitin market is segmented on the basis of source, form, grade, application and distribution channel.
On the basis of source, the chondroitin market can be segmented as: Marine, Bovine, Avian & Others (Chicken, Cow, etc.).On the basis of form, the chondroitin market can be segmented as: Powder & Capsules. On the basis of grade, the chondroitin market can be segmented as: Pharmaceutical Grade & Industrial Grade. On the basis of application, the chondroitin market can be segmented as: Sports Nutrition, Pharmaceuticals, Dietary Supplements & Cosmetics and Personal Care.
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On the basis of distribution channel, the chondroitin market can be segmented as: Direct/B2B,Indirect/B2C,Drug Stores,Pharmacies & Online Retail
Chondroitin Market: Key Developments
Many manufacturers sell the dietary supplements and their label indicates the presence of chondroitin in them. But the quantity of chondroitin is as little as 10% which results in low-quality products. But many manufacturers are trying to clean up the supply chain of chondroitin. Synutra Ingredients is using gel electrophoresis to stop adulteration of chondroitin and is one of the leading manufacturers of chondroitin in the United States.
Chondroitin Market: Regional Analysis
The production is mainly carried out in the Asia Pacific especially in China. The consumption of chondroitin is more in the U.S. and all the chondroitin that is consumed in the U.S. is imported from overseas. Chondroitin-containing supplements are one of the top five best-selling dietary supplements globally. The use of chondroitin as a dietary supplement is expected to increase in South and East Asia in the upcoming years. It is being widely used in Europe and MEA in cosmetics and personal care products. The chondroitin is being sold by various different names one of them being chondroitin sulfate which is very popular.
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Chondroitin Market: Key Participants
The key participants in the chondroitin market are:
TSI Group Ltd.,Synutra Pure, Ltd.,Bioiberica S.A.U.,Kala Health Inc.,Shanghai Jbichem International Trading Co. Ltd.,Summit Nutritionals International, Inc. ,Pacific Rainbow International, Inc.,Qingdao Kangyuan Pharmaceutical,Beloorbayir Biotech Ltd.,AdvaCare Pharma,Sichuan Biosyn Pharmaceutical Co., Ltd.,Inter Farma,Jiaxing Hengjie Bio-pharmaceutical LLC & Seikagaku Corporation