The global Chitosan market size is expected to be worth around US$ 28.90 billion by 2027, according to a new report by Vision Research Reports.
The global Chitosan market size was valued at US$ 6.7 billion in 2019 and is anticipated to grow at a CAGR of 24.6% during forecast period 2020 to 2027.
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Chitosan Market Size, Share, Growth, Trends, Company Analysis, Regional Insights and Forecast 2020 – 2027 – Breakdown Data by Regions, Type, Manufacturers and Applications
The growing product application in water treatment, pharmaceutical and biomedical, cosmetics, and food and beverage industries are expected to drive the market growth.
Chitosan is an amino polysaccharide polymer commercially produced from the shells of crab, lobster, shrimp, and crayfish. It is made through chemical or enzymatic deacetylation of chitin shells or exoskeletons of insects, crustaceans, and the cell walls of fungi with an alkaline substance such as sodium hydroxide. Each raw material for the product has different chitosan content hence play an important role in commercial manufacturing. Shrimp is considered to be the major source for chitosan since it contains about 25% to 40% chitin, whereas, the crab shell contains approximately 15% to 20%.
Based on the application trends, the chitosan market has been segmented into water treatment, pharmaceutical and biomedical, cosmetics, food and beverage, and others. Among these water treatments were the largest application segment, owing to its growing demand from industrial, commercial, and municipal waste treatment plants. Its superb ability to remove pesticides, surfactants, phenol, and polychlorinated biphenyls from wastewater find application as flocculating, coagulating, and a chelating agent in their purification.
Another significant application includes use as an antimicrobial agent in food processing and its packaging industries. It acts as a fungicide, offers freshness and health benefits when mixed with dietary supplements. In addition, its ability to enhance immunity, reduce blood sugar, and decrease blood pressure are expected to be key factors driving the demand in the food and beverage industry.
Asia Pacific emerged as the largest regional market in 2019. It is also expected to be the fastest-growing region owing to the rapid development of end-use industries in Japan, China, India, and South Korea. Increasing demand for biobased products coupled with supporting government scenario in these counties is expected to drive the regional demand for chitosan. For instance, according to the Korea Food & Drug Administration, products such as chitooligosaccharides and glucosamine are considered safe for use in dietary supplements. Similarly, in Japan, it is filed on the food additives list given by The Japan Food Chemical Research Foundation.
In Asia Pacific, Japan has been one of the major producers as well as consumers of chitosan owing to the presence of abundant raw material coupled with early recognition of the benefits offered by the product. The demand in Japan is primarily driven by water treatment applications which account for over 60% of the total market share. Increasing demand from manufacturing artificial skin and in wound dressing is also expected to positively impact the growth over the forecast period.
In Europe, the growing number of food processing industries has led to the large import of chitosan. The European Parliament regulation (EC) No 1107/2009, approves chitosan hydrochloride as a basic substance used in the dietary supplement additives. In addition, increasing R&D expenditure in the pharmaceutical industry, growing popularity for natural cosmetics products are expected to propel the demand over the forecast period.
Kyowa Technos Co., Ltd., Dainichiseika Color & Chemicals Mfg. Co. Ltd., and KIMICA Corporation. Later several other multinational companies including Biophrame Technologies, Heppe Medical Chitosan GmbH, Meron Biopolymers, Qingdao Yunzhou Biochemistry Co., Golden-Shell Pharmaceutical Co. Ltd, and FMC Corp. started the production on a commercial scale.
- Application Outlook
- Water Treatment
- Pharmaceutical & biomedical
- Food & beverage
- Regional Outlook
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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