South Korea Chondroitin Sulfate Market Size & Outlook
South Korea chondroitin sulfate market, 2017-2030 (US$M)
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South Korea chondroitin sulfate market highlights
- The South Korea chondroitin sulfate market generated a revenue of USD 28.0 million in 2022 and is expected to reach USD 37.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 3.6% 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.
Chondroitin sulfate market data book summary
| Market revenue in 2022 | USD 28.0 million |
| Market revenue in 2030 | USD 37.2 million |
| Growth rate | 3.6% (CAGR from 2022 to 2030) |
| Largest segment | Bovine |
| Fastest growing segment | Synthetic |
| Historical data | 2017 - 2021 |
| Base year | 2022 |
| Forecast period | 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, South Korea accounted for 2.3% of the global chondroitin sulfate market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China chondroitin sulfate market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 91.5 million by 2030.
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Chondroitin Sulfate Market Scope
Chondroitin Sulfate Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea 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 37.14% in 2022. Horizon Databook has segmented the South Korea chondroitin sulfate market based on bovine, swine, poultry, shark, synthetic covering the revenue growth of each sub-segment from 2017 to 2030.
In Korea, chondroitin sulfate is used as a raw material for manufacturing pharmaceutical products, liquid preparations, ophthalmic solutions, and soft capsules. The growth of chondroitin sulfate market can be attributed to the prevalence of Kashin-Beck disease (KBD), a degenerative osteoarthritis affecting the joints and bones.
Clinical studies and research & development activities to relieve the patients suffering from KBD in North Korea is anticipated to propel the demand for chondroitin sulfate in South Korea. The Ministry of Food and Drug Safety in South Korea has regulated the dosage of chondroitin sulfate in pharmaceutical grade and health food products.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea chondroitin sulfate market , including forecasts for subscribers. This country databook contains high-level insights into South Korea chondroitin sulfate market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea chondroitin sulfate market size, by source, 2017-2030 (US$M)
South Korea Chondroitin Sulfate Market Outlook Share, 2022 & 2030 (US$M)
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