The global Chitosan market is projected to reach USD 27.36 billion by 2030, growing at a CAGR of 25%
The shell waste in the crustaceans’ process contains high amount of chitin that is further processed to produce chitosan, glucosamine, and other derivatives. The shell waste having chitin is treated with specific alkalis and acids under optimal reaction conditions. After experiencing sequential demineralization and deproteinization, chitin is obtained that is further deacetylated to produce chitosan.
Chitosan can also be produced from certain fungi. Chitosan is promoted under many product grades such as industrial, pharmaceutical and food & beverage depending upon the product purity. The supply chain of the chitosan market starts from procuring of raw materials, manufacturing of chitosan, it’s processing and supplying of finished products to the various vendors of chitosan industry. The pure grades of the product are not easy to procure hence the vendors enjoy a profitable margins on the sale of the products.
The major factors contributing to the impending growth of the Chitosan market are adequate raw material and emerging applications and usability in various industries. Increased research and development activities in the existing technologies is another factor contributing to the growth of the chitosan market size. Water treatment is the major contributor in the chitosan market size, followed by biomedical & pharmaceuticals, food and beverages, bio printing and agriculture. However, the high production cost involved and product inconsistency due to seasonal, regional and chemical modification could slow down the chitosan market growth.
The cosmetic industry is expected to be another contributor in the growth of chitosan market size due to fungistatic and bacteriostatic properties. Furthermore, the growing demand for bio-based color cosmetics are expected to propel the demand over the forecast period. In Korea, chitosan has been approved as a natural food additive, leading to its growing demand. Japan is another major contributor in market share, as it uses almost 60% of chitosan for water treatment application.
Chitosan industry can be segmented on various types such as source, application and geography. The major sources of chitosan includes shell wastes from, shrimp, squid, crab, and krill. Chitosan market by application is segmented into water treatment, biomedical & pharmaceuticals, cosmetics, food & beverage, and many others. On the basis of geography it can be further segmented into North America, Europe, Asia Pacific and Rest of the World (ROW). Asia-Pacific leads the global chitosan market accounting to almost 50% of the value and volume of chitosan market size.
The key market players in Chitosan industry are Advanced Biopolymers AS (Norway), G.T.C. Bio Corporation (China), Primex ehf (Iceland), Heppe Medical Chitosan GmbH (Germany), Kitozyme S.A. (Belgium), Novamatrix (Norway), Agratech International, Inc. (U.S.), Golden-Shell Pharmaceutical Co. Ltd. (China) and many others.
The various segments of Chitosan Market are,
- Shell wastes from shrimp, squid, crab, and krill
- Water treatment
- Biomedical & Pharmaceuticals
- Food & Beverage
- North America
- Asia Pacific
- Rest of the World (ROW).
What to expect from the upcoming report on ‘Chitosan Market’:
- Future prospects and current trends of the Chitosan market by the end of forecast period (2018-2025)
- Information regarding technological progressions as well as innovations across the world
- Supportive initiatives by government likely to influence the market dynamics.
- In-depth analysis of different market segmentation including regional segmentation, applications and types.
- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market.
- Trends, drivers, opportunities, restraints, challenges and key developments in the market