Chitosan Market – Global Industry Analysis and Forecast (2023 to 2029)

The Chitosan market was valued at US$ 6.46 Bn in 2022. The Chitosan Market size is estimated to grow at a CAGR of 18% over the forecast period.
Chitosan Market Overview:
The report explores the Chitosan market's segments (Source, Application, and Region). Data has been provided by market participants and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the Chitosan market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Chitosan market's contemporary competitive scenario.To know about the Research Methodology:-Request Free Sample Report
Chitosan Market Dynamics:
Unique Properties driving Product Demand:

Chitosan is used in various applications such as water treatment, food & beverages, agrochemicals, medical & pharmaceuticals, and cosmetics. Chitosan can adsorb metals, toxic substances, iron, and other impurities from wastewater because of its adsorption properties. Chitosan is an economical, effective, and environmentally friendly way to treat water. Its bioactivity, antimicrobial properties, and anti-oxidative properties make it useful for medicinal and pharmaceutical applications, including wound ointments and medical device coatings. Food and beverages use as dietary supplements, preservatives, and cholesterol-lowering additives. Pharmaceutically, it is used in contact lenses and drug delivery agents, and cosmetically, it is used in skincare, oral care, and hair care products.

High Cost and Wastage:

Chitosan is predicted to suffer from limitations associated with shrimp farming regulations, as well as lots of waste generated by shrimp peeling units and shellfish processing plants that are forecasted to slow down its market growth. Chitosan's high production cost is forecasted to limit its market growth, and the process of producing it is also lengthy and complex due to its various stages, which will further restrain its growth.

Demand in Agricultural Sector:

As chitosan's antifungal properties increase its use in fertilizers and the controlled release of agriculture chemicals, new market opportunities are expected to develop during the forecast period. A simple chemical procedure may be able to create cheap nutrients through the use of fungi waste in agriculture to create profitable chitosan market opportunities. It is further anticipated that increased research and development in the field of chitosan nanoparticles for its growing use in novel applications will also contribute to the market growth of chitosan during the forecast period.

Impact of COVID-19:

Chitosan market demand increased during COVID-19 due to the high demand for medicines and the rapidly increasing pharmaceutical industry, and it is forecasted that it will boost the demand in the forecasted period.

Chitosan Market Trends:

A major trend is an increase in manufacturers' investment in safe and cost-effective production technology. Over the forecast period, the market growth is further expected to be bolstered by the increasing focus on developing a wide range of chitosan products and the establishment of new plants near coastal areas by manufacturers.
Chitosan Market Segment Analysis:
Based on the Source, the Chitosan Market has been segmented into Shrimp, Crab, Squid, Krill, and Others. The Shrimp Chitosan segment has the highest revenue share. It is a biodegradable, biocompatible, and eco-friendly polyelectrolyte. It contains 25%-4-% chitin. It can be used in a variety of applications such as chromatography, water treatment, cosmetics additives, and textile antimicrobial treatment. Shrimps are easily available by which the manufacturing cost of chitosan is reduced, it can enhance the accessibility and it will boost the market growth. It is also used as a biomedical device for the controlled release of drugs in microcapsule implants.Based on Application, the Chitosan Market is segmented into Water Treatment, Food & Beverages, Cosmetics, Medical & Pharmaceuticals, Agrochemicals and Others.

Water Treatment is the largest application segment. It is the process of purifying wastewater and it has an excellent performance in removing pesticides, surfactants, phenol, and polychlorinated biphenyls. Due to its high percentage compared to conventional methods such as filtration, it is the preferred choice for water treatment plants around the world.

The Cosmetic industry has been strong growth due to rising consumer spending in emerging economies. It can be used to manufacture oral, hair, and anti-aging creams. It provides an elastic film in the hair that forms an elastic layer which gives softness and strength to hair fibers. Due to its anti-plaque and anti-decay properties, this ingredient also finds application in mouthwashes, toothpastes, and chewing gums. The increasing demand for organic ingredients in cosmetic products will drive the chitosan market growth during the forecast period.

Due to the critical role chitosan plays in adding shelf life and quality to agricultural, poultry, and marine foods, the food & beverages segment is expected to witness steady growth.
Chitosan Market Regional Insights:
The Asia Pacific region held the largest market share accounting for 38% in 2022 because crustacean waste can be easily found in coastal areas. China, Japan, and Thailand are major producers and consumers of crustaceans, so a large amount of crustacean shell waste is readily available in these regions.

The North America region is expected to witness significant growth in the forecast period. Because of the increasing adoption of chitosan-containing biomedical and pharmaceutical products, including bandages and weight loss supplements.

The objective of the report is to present a comprehensive analysis of the global Chitosan Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers.

The reports also help in understanding the Chitosan Market dynamic and structure by analyzing the market segments and projecting the Chitosan Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Chitosan Market make the report investor’s guide.
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Chitosan Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 6.46 Bn.


Forecast Period 2023 to 2029 CAGR:
18%
Market Size in 2029:
US $ 20.6 Bn.


 Segments Covered:
by Source
Shrimp
Crab
Squid
Krill
Others


by Application
Water Treatment
Food & Beverages
Cosmetics
Medical & Pharmaceuticals
Agrochemicals
Others


by Grade
Industrial Grade
Food Grade
Pharmaceutical Grade



Chitosan Market, by Region:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Chitosan Market, Key Players are:
1. Primex EHF
2. Meron Group
3. Golden Shell Pharmaceuticals Co Ltd.
4. Heppe Medical Chitosan GmbH
5. KitoZyme SA
6. Axio Biosolutions Pvt Ltd.
7. Marshall Marine Products
8. Advanced Biopolymers AS
9. Agratech International Inc.
10.Novamatrix
11.Panvo Organics Pvt Ltd.

Frequently Asked Questions:

1. What is the study period of the market?
Ans. The Global Chitosan Market is studied from 2022-2029.

2. What is the growth rate of Chitosan Market?
Ans. The Global Chitosan Market is growing at a CAGR of 18% over the forecast period.

3. Which region has largest share in The Global Chitosan Market?
Ans. Asia Pacific holds the largest share.

4. What is the Global Chitosan Market segment based on source?
Ans. Based on source, The Global Chitosan Market is divided into shrimp, crab, squid, krill, and others.

5. Who are the key players in the Global Chitosan Market?
Ans. Primex EHF, Meron Group, Golden Shell Pharmaceuticals Co Ltd., Heppe Medical Chitosan GmbH, KitoZyme SA, Axio Biosolutions Pvt Lts., Marshall Marine Products. Advanced Biopolymers AS, Agratech International Inc., Novamatrix, Panvo Organics Pvt Ltd