Latin America Chondroitin Sulfate Market Size & Outlook
Latin America chondroitin sulfate market, 2017-2030 (US$M)
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Latin America chondroitin sulfate market highlights
- The Latin America chondroitin sulfate market generated a revenue of USD 119.2 million in 2022.
- The market is expected to grow at a CAGR of 3.2% from 2023 to 2030.
- In terms of segment, bovine was the largest revenue generating source in 2022.
- Synthetic is the most lucrative source segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 119.2 million |
| Market revenue in 2030 | USD 153.4 million |
| Growth rate | 3.2% (CAGR from 2022 to 2030) |
| Largest segment | Bovine |
| Fastest growing segment | Synthetic |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Bovine, Swine, Poultry, Shark, Synthetic |
| Key market players worldwide | Merck KGaA, BRF SA ADR, Seikagaku, TSI Group, Bioiberica, Bio-gen Extracts |
Other key industry trends
- In terms of revenue, Latin America region accounted for 9.7% of the global chondroitin sulfate market in 2022.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 427.5 million by 2030.
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Chondroitin Sulfate Market Scope
Chondroitin Sulfate Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America chondroitin sulfate market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to chondroitin sulfate market will help companies and investors design strategic landscapes.
Bovine was the largest segment with a revenue share of 37.92% in 2022. Horizon Databook has segmented the Latin America chondroitin sulfate market based on bovine, swine, poultry, shark, synthetic covering the revenue growth of each sub-segment from 2017 to 2030.
The growth in the region can be attributed to the surging demand for medicines and dietary supplements in key countries such as Brazil and Argentina. Bovine-derived chondroitin sulfate is majorly preferred in the region as key countries are involved in beef farming as well as in domestic consumption of chondroitin sulfate products.
Furthermore, high prevalence of osteoarthritis coupled with rising consumer awareness regarding healthy diet is anticipated to drive the product demand. Carbosynth is a prominent manufacturer and supplier of chondroitin sulfate in the region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America chondroitin sulfate market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America chondroitin sulfate market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America chondroitin sulfate market size, by country, 2017-2030 (US$M)
Latin America Chondroitin Sulfate Market Outlook Share, 2022 & 2030 (US$M)
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