Chondroitin Sulfate Market Size, Share & Trends Report

Chondroitin Sulfate Market Size, Share & Trends Analysis Report By Source (Bovine, Shark, Swine), By Application (Nutraceuticals, Pharmaceuticals), By Region (APAC, North America), And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-3-68038-501-4
  • Number of Pages: 220
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the chondroitin sulfate market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for chondroitin sulfate market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of chondroitin sulfate market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Chondroitin Sulfate Market Categorization:

The chondroitin sulfate market was categorized into three segments, namely source (Bovine, Swine, Poultry, Shark, Synthetic), application (Nutraceuticals, Pharmaceuticals, Animal Feed, Personal Care & Cosmetics), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The chondroitin sulfate market was segmented into source, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The chondroitin sulfate market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty countries, namely, the U.S.; Canada; Mexico; Germany; the UK.; France; Italy; Spain; China; India; Japan; South Korea; Australia; Taiwan; Brazil; Argentina; Chile; Colombia; Saudi Arabia; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Chondroitin sulfate market companies & financials:

The chondroitin sulfate market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • TSI Group Ltd. is engaged in the manufacturing and distribution of innovative and functional health products. It develops ingredients and finished dosage forms for human consumption including tablets, stick packs, powders, and two-piece hard capsules. The ingredients are backed by an inclusive technical dossier of clinical studies' safety information and technical specifications. It has custom manufacturing solutions and expertise in formulation development. The company follows vertical integration, which turns raw materials, both proprietary and conventional, into profitable solutions. It offers chondroitin sulfate-based supplements, pharmaceutical products, and food-grade products under the PUREFLEX brand.

  • Qingdao Wan Toulmin Biological Products Co., Ltd focuses on the development, manufacturing, and distribution of high-quality chondroitin sulfate and collagen peptides-based products worldwide. The company has adopted a quality management system that complies with ISO and CGMP 9001. It is fully integrated and involved in purchasing, production, warehousing, documentation, quality control, and other functional departments, and resources quality assurance of products.

  • HeBei SanXin Industrial Group manufactures and distributes sodium chondroitin and sodium chondroitin-based products globally. The product portfolio includes Hyaluronic acid, glucosamine, sodium chondroitin sulfate, Chitin, D-Glucosamine Sulfate-2NaCL, D-Glucosamine Sulfate-2KCL, MSM, and Shikimic acid products. The company has a chondroitin sulfate manufacturing facility with an annual production capacity of 400 tons. In addition, it has two registered patents for chondroitin sulfate and Composite Chondroitin Sulfate Tablets.

  • Bioiberica S.A.U. manufactures and distributes animal-derived biomolecules including Chondroitin Sulfate Glucosamine and Hyaluronic Acid for pharmaceutical, nutraceutical, and food industries. It operates through five business units, namely heparin science, healthcare, companion animal health, animal nutrition, and plant health. The company is vertically integrated and provides active ingredients to the finished product with a presence across 80 countries and production centers in Spain, Italy, Poland, Germany, the U.S., and Brazil.

  • Sigma-Aldrich, Inc. manufactures and distributes animal-derived chondroitin sulfate products worldwide. The company operates through three business areas, namely research, process, and applied solutions. Its product portfolio includes chondroitin sulfate derived from shark and bovine cartilage as well as from bovine trachea. The company operates as a subsidiary of Merck KGaA.

  • Sino Siam Biotechnique Company Limited manufactures and distributes animal-derived sodium chondroitin sulfate worldwide. It caters its products to dietary supplement, pharmaceutical, and animal feed producers. The product portfolio includes chondroitin sulfate derived from cartilage of various animals such as bovine, marine, and avian. The company has a manufacturing facility covering a land area of 6.33 acres, with an annual production capacity of 400 metric tons.

  • Bio-gen Extracts Private Limited develops, manufactures, and distributes therapeutic enzymes, active pharmaceutical ingredients, specialty polymers, and nutraceutical raw materials. The product portfolio includes branded ingredients such as hard & soft gel capsules and beverages, sachets as well as a wide range of nutraceutical ingredients such as chondroitin sulfate ginger extracts and glucosamine salts, among others. In addition, it also provides food ingredients and natural food colors.

  • ZPD is engaged in the manufacturing and distribution of sodium chondroitin sulfate to food supplement, pharmaceutical, veterinary, beauty, and pet food industries. The product is particularly sourced from bovine and porcine cartilage. The company’s product portfolio includes chondroitin-based tablets, capsules, and tonics as well as diluted grade of chondroitin sulfate. The company operates as a subsidiary of Zeria Pharmaceutical Co., Ltd.

  • SEIKAGAKU CORPORATION develops, manufactures, and distributes chondroitin sulfate worldwide. The company operates through two business segments, namely pharmaceutical and limulus amebocyte lysate (LAL). The company’s product portfolio consists of pharmaceutical and medical devices including intra-articular injections, ophthalmic surgical aids, and bulk products such as chondroitin sulfate and sodium hyaluronate for use in pharmaceuticals and cosmetics as well as endotoxin detecting reagents for quality control in the manufacturing process and release test of pharmaceuticals and medical devices.

  • BRF is a leading food producer engaged in the manufacturing and distribution of pork, poultry, and processed foods. The company produces fresh and frozen protein foods with over 4,000 SKUs (stock-keeping units) across the globe. Its major operating segments are Brazil, the Middle East, Latin America, and North Africa. The company owns brands such as Qualy, Sadia, Chester, Perdix, Perdigao, and Paty. It provides chondroitin sulfate through the newly launched business unit BRF Ingredients, which offers functional ingredient solutions for use in nutrition and health segments.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Chondroitin Sulfate Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Chondroitin Sulfate Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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