Chitosan Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2022 - 2032
Global Chitosan Market: Snapshot
The demand within the chitosan market is attributed to its increasing application in the healthcare industry. The Chitosan market has been anticipated to reach the valuation of US$ 4.7 Bn and grow at a CAGR of 14.5% in the foreseeable years from 2020 to 2030.
Chitosan has been a polysaccharide derivative of chitin that is obtained from the shells of marine animals, for instance, crabs, lobsters, shrimps, and many others. Further, commercial chitosan has been produced through chitin deacetylation that has been extracted from the crustacean shell waste. Owing to its biodegradability and biocompatibility properties, it is used at an increased rate in healthcare applications. In addition to this, the anticoagulant properties of Chitosan ensure its suitability across hemostatic dressing in order to treat wounds. Along with this, the product from the chitosan market is used as biopesticide across the agriculture industry in order to restrict pathogenic impacts that occur on the growth of trees and plants. Furthermore, it is also helpful for water treatment. These factors are estimated to serve as revenue generators in the chitosan market.
Chitosan has been used at an increased rate in bioprinting of organs, polyurethane paints & coatings, and as a food preservative. This increasing application of the product has been predicted to increase revenue generation opportunities in the chitosan market in the forthcoming years.
Chitosan is a kind of carbohydrate with number of sugar molecules bonded closely. It consist of chitosan and chitin are two renewable and naturally abundant polymers having significant properties such as biodegradability, nature-friendly, adsorption, and non-toxicity. This compound has several usage in the industry such as cosmetics, water treatment, and agrochemicals. Chitosan is extracted from the outer shell of crustaceans for example shrimps, lobsters, crabs and others. The major reason for the growth in global chitosan market is the rise in demand for the products used for the treatment of contaminated water treatment, in order to remove pollutants such as heavy minerals, oils, and phosphorous which are responsible for the deterioration of the water quality. Moreover, in the recent times, there has been a scarcity of fresh water available because of rapid industrialization and rise in population. This factor also contributes in the growth of global chitosan market. This has encouraged firms and government to work on water treatment worldwide.
The vendors and producers are anticipated to gain high profits by imposing high margins as the pure form of the product is not available easily in the market. Japan has been a dominant region among all others, owing to early acceptance of the product for the usage of water treatment. There are certain manufacturers that have insufficient high quality product in terms of volume, which is likely to pull the down the market growth. Over the past few years there has been a noticeable surge in the demand for waste water treatment in the sectors such as paper & pulp, textile, and metal cutting, which as a result have stirred the global chitosan market.
Global Chitosan Market: Overview
Chitosan is a sugar that is extracted from the hard outer skeleton of shellfish such as crab, lobster, and shrimp. It finds application as a medicine to cure obesity, high cholesterol, and Crohn’s disease. Chitosan also helps to cure complications resulting from dialysis in kidney failure patients. Those complications include high cholesterol, anemia, insomnia, etc. Some people apply chitosan directly to their gums to treat inflammation that can cause loss in tooth and some chew gum containing chitosan to thwart cavities.
Global Chitosan Market: Key Trends
One factor majorly boosting the global chitosan market is the acute shortage of fresh water on account of a burgeoning urban population and rapid pace of industrialization. This has led to substantial investments by governments and private players in water treatment worldwide, particularly in high and middle income countries. Chitosan flocculant, a unique composite, is used in water treatment. It is way more effective and costs less than conventional flocculant in water treatment.
Besides, the booming personal care industry is also propelling the global market for chitosan. This is because chitosan is used in formulation of hair care, skin care, and dental care products. Chitosan has excellent skin moisturizing properties that deters dehydration. Although the global cosmetics industry is expanding at a moderate pace, the growth of the segment containing organic ingredients is slated to have a positive impact on the global chitosan market.
Countering the growth in the market is the high cost of manufacturing chitosan from raw materials. This has been on account of little progress in the manufacturing technique.
Global Chitosan Market: Market Potential
The global chitosan market is poised for good growth and holds out a strong promise on account of the easy availability of raw materials and emerging applications in different end use segments. The ongoing research and development activities focused on uncovering unique applications of chitosan as well as development of the existing technology is also predicted to promote the market.
Chitosan finds application in cosmetics, water treatment, pharmaceutical and biomedical, and food and beverage, among others. Among them, the water treatment section is slated to outpace all other segments in terms of growth owing to its strong demand for removal of metals and chemicals from wastewater, including pesticides, surfactants, phenol and polychlorinated biphenyls.
However, the cost of treating environmentally-hazardous waste resulting from the manufacturing process is high. Further, since animal feed manufacturers source the same raw materials, manufacturers of chitosan need to compete with them as well.
Global Chitosan Market: Regional Outlook
From a geographical standpoint, Asia Pacific will likely outpace all other regions in terms of growth. Powered by Japan, which manufactures maximum chitosan, Asia Pacific leads. Indian and China are other key markets in the region. North America is another crucial market with its large cosmetics segment driving demand.
Global Chitosan Market: Competitive Analysis
Stiff competition characterizes the global chitosan market, particularly in Asia Pacific. Further, the industry is price sensitive. Some of the key players in the market are KitoZyme S.A., GTC Bio Corporation, Panvo Organics Pvt., Ltd., and Xianju Tengwang Chitosan Factory.
The industry is integrated with manufacturers producing both chitosan and the end products. However, certain pharmaceutical companies, food supplement makers, cosmetics and biomedical product makers, cosmetic manufacturing companies, and natural diet supplement manufacturing companies buy chitosan from manufacturers to produce end products.
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report