Chitosan Market: By Grade (Industrial, Food, and Pharmaceutical), By Source (Shrimp, Squid, Crab, Krill and Others), By Application (Water Treatment, Food & Beverages, Cosmetics, Medical & Pharmaceuticals, and Agrochemicals) And Region - Global Analysis Of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
Global Chitosan to surpass USD XX billion by 2031 from USD XX billion in 2021 at a CAGR of XX% in the coming years, i.e., 2021-2031.
Chitosan is a polysaccharide derivative of chitin extracted from shells of marine animals such as shrimps, crabs, lobsters, and others, along with mushrooms and yeasts. Chitosan is widely used in dietary supplements, as it can restricts lipid absorption in gastrointestinal tract. It is predominately used as an ingredient in medicines for treating various disorder, such as anemia, obesity, high cholesterol levels, kidney failure, insomnia and Crohn’s disease. Due to biocompatibility and biodegradability properties chitosan is substantially used as a natural antimicrobial agent in the agricultural, cosmetics and food industries. In the agriculture, it is also used as a bio pesticide to regulate morbific impacts on trees & plant growth promoter. Having anticoagulant properties, chitosan is extensively used for hemostatic dressing to treat wounds. In addition, chitosan used in water treatment facilities, due to efficiency to remove heavy metal ions from water.
Global Chitosan market is expected to project a notable CAGR of XX% in 2031.
Global Chitosan to surpass USD XX billion by 2031 from USD XX billion in 2021 at a CAGR of XX% in the coming years, i.e., 2021-2031. The global Chitosan Market is driven by hike in applications of chitosan, and the govt support toward waste utilization. Due to anti-plaque and anti-decay properties, it is used to manufacture mouthwashes, toothpaste, and chewing gums upswing in demand for bio-based cosmetic products impelling the market growth globally.
Water Treatments segment to grow with the highest CAGR during 2021-31
Chitosan market is classified on the basis of Application into Water Treatment, Food & Beverages, Cosmetics, Medical & Pharmaceuticals, and Agrochemicals. The water treatment segment held the largest share due to its biodegradable nature and effectiveness in removing toxic materials. Due to its biocompatibility, bioactivity, on-toxicity, biodegradability, fiber grade-properties, and adsorption, is the preferred choice for coagulants, water treatment, and flocculants in water treatment.
Industrial-grade chitosan segment to grow with the highest CAGR during 2021-2031
Based on Grade Chitosan Market is fragmented into Industrial, Food, and Pharmaceutical. Industrial-grade chitosan is extensively used in agrochemicals, water treatment and other applications. In water treatment applications, the rising demand for non-chemical products or technologies such as membranes and UV disinfection is driving the escalation of the industrial-grade chitosan market.
Increase in applications of chitosan
One of the market's primary drivers is increase in applications of chitosan, the development in waste from the seafood industry, and concern of the government toward waste utilization. Due to it restricts lipid absorption in gastrointestinal tract, widely applicable in reducing body weight. Furthermore, increase in demand for bio-based cosmetic products is also expected to drive the market growth during the forecast period.
Extraordinary properties of chitosan
The Chitosan Market is also growing as a result of extraordinary properties of chitosan.
It is biodegradable, biocompatible, antibacterial biomaterial, bioactive and nontoxic, make it useful in several medical and pharmaceutical applications. Due to these properties, it is used in different applications such as water treatment, cosmetics, medical & pharmaceuticals, food & beverages, and agrochemicals applications. It is used in water treatment application as it can absorb toxic substances, grease, oils, metals. and other impurities from the wastewater. In the food & beverages segmentation, Chitosan is used as a dietary supplement, preservative, and as an anti-cholesterol additive. Moreover, the rising demand for organic ingredients in cosmetic products, chitosan is used in skin care and hair care products.
High cost associated with bulk production
Overcapacity may be the most significant constraint for this industry. The high cost of bulk production for water treatment hinder the overall market growth. New sources for commercial chitosan such as fungi, snail, and other molluscs may displace the conventional sources such as crab, shrimp in case of insufficiency for marine waste.
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Global Chitosan market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia-Pacific is also expected to grow at a healthy growth in the forecast period due to the easy availability of its raw material obtained from fishery industry. Moreover, the rising demand for organic ingredients and support from the government toward waste utilization would also boost the chitosan market. In the North America pharmaceutical industry is supposed to drive the market growth. Furthermore, increasing R&D expenditure in the pharmaceutical industry and growing awareness for organic cosmetics products are expected to drive the demand over the forecast period.
The COVID-19 outbreak has shown a positive impact toward the Chitosan Market. In the management of the disease chitosan related research and developments has been increasing in the development of new type respirator with a filter element containing chitosan nano particles.
Market size value in 2021
USD XX billion
Revenue forecast in 2031
USD XX billion
CAGR of XX% from 2021 to 2031
Base year for estimation
Revenue in USD million and CAGR from 2021 to 2030
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Grade, Source, Application and Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled
Primex EHF, Heppe Medical Chitosan GmbH, Meron Group, KitoZyme SA, Golden-Shell Pharmaceutical Co. Ltd., FMC Corporation, Agra Tech, Inc., Axio Biosolutions Pvt Ltd., Marshall Marine Products and Other Prominent Players
Chitosan market size was estimated at USD XX billion in 2021 and is expected to reach USD XX billion in 2031.
Chitosan is a polysaccharide derivative of chitin extracted from shells of marine animals such as shrimps, crabs, lobsters, and others, along with mushrooms and yeasts.
The water treatment segment held the largest share in Chitosan Market.
Key players: Primex EHF, Heppe Medical Chitosan GmbH, Meron Group, KitoZyme SA, Golden-Shell Pharmaceutical Co. Ltd., FMC Corporation, Agra Tech, Inc., Axio Biosolutions Pvt Ltd., Marshall Marine Products and Other Prominent Players.
Increase in applications of chitosan, as well as extraordinary properties of chitosan, is expected to drive industry growth.
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