Report Overview
Product Overview
Global Chitosan to surpass USD 9.7 billion by 2031 from USD 2.58 billion in 2021 at a CAGR of 15.9% 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.
Market Highlights
Global Chitosan market is expected to project a notable CAGR of 15.9% in 2031.
Global Chitosan to surpass USD 9.7 billion by 2031 from USD 2.58 billion in 2021 at a CAGR of 15.9% 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.
Chitosan Market: Segments
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.
Market Dynamics
Drivers
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.
Restraint
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.
Global Chitosan Market:
Key Players
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Meron Group
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis - Primex EHF
- Heppe Medical Chitosan GmbH
- KitoZyme SA
- Golden-Shell Pharmaceutical Co. Ltd.
- FMC Corporation
- Agra Tech, Inc.
- Axio Biosolutions Pvt Ltd.
- Marshall Marine Products
- Other Prominent Players
Global Chitosan: Regions
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.
Impact of Covid-19 on Chitosan Market
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.
Global Chitosan is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Global Chitosan report also contains analysis on:
Chitosan Segments:
- By Grade
- Industrial
- Food
- Pharmaceutical
- By Source
- Shrimp
- Squid
- Crab
- Krill
- Others
- By Application
- Water Treatment
- Food & Beverages
- Cosmetics
- Medical & Pharmaceuticals
- Agrochemicals
- Chitosan Market Dynamics
- Chitosan Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Chitosan Market Report Scope and Segmentation
|
Report Attribute |
Details |
|
Market size value in 2021 |
USD XX billion |
|
Revenue forecast in 2031 |
USD XX billion |
|
Growth Rate |
CAGR of XX% from 2021 to 2031 |
|
Base year for estimation |
2020 |
|
Quantitative units |
Revenue in USD million and CAGR from 2021 to 2030 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Grade, Source, Application and Region |
|
Regional scope |
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 |
Frequently Asked Questions (FAQ):
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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