Chitosan Market Research Report by Size and Share | Latest Development, Growth Statistics and Forecast to 2027
Chitosan Market Research
Increase in usage of chitofelx in hemostatic dressing and rise in demand for bio-based cosmetic products boost the growth of the global chitosan market.
WILMINGTON, DELAWARE, UNITED STATES, November 21, 2023 /EINPresswire.com/ -- The chitosan industry is primarily involved in the production and utilization of chitosan, a biopolymer derived from chitin, which is found in the shells of crustaceans like shrimp, crabs, and lobsters, as well as in the cell walls of fungi. Chitosan has various applications across different sectors due to its unique properties, such as biodegradability, biocompatibility, and antimicrobial characteristics.
According to the report published by Allied Market Research, the global chitosan market generated $1.7 billion in 2019, and is estimated to reach $4.7 billion by 2027, registering a CAGR of 14.5% from 2020 to 2027.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/1737
Increase in usage of chitofelx in hemostatic dressing and rise in demand for bio-based cosmetic products boost the growth of the global chitosan market. Conversely, high cost associated with the production of chitosan hinders the market growth. Nevertheless, rise in adoption of chitosan as bio-plastic is expected to create numbers of opportunities for the market players.
𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧:
- Extraction: Chitosan is obtained through the deacetylation process of chitin. This process involves treating chitin with an alkaline substance, such as sodium hydroxide, to remove acetyl groups.
- Sources: The primary sources of chitosan are shrimp and crab shells, though fungal sources have gained attention due to their potential in large-scale production.
The shrimp segment contributed to the largest share in 2019, accounting for more than three-fourths of the global chitosan market, and is estimated to maintain its dominant position during the forecast period. This is owing to the large demand of shrimp chitosan in water treatment and the food and beverage industry. On the other hand, the crabs segment is estimated to portray the highest CAGR of 19.8% during the forecast period, due to growing utilization of crab waste in plantation to maintain soil biodiversity.
𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬:
- Agriculture: Chitosan is used in agriculture as a biopesticide, fungicide, and plant growth enhancer. It helps in crop protection, seed treatment, and improving plant resistance against pathogens.
- Biomedical: In medicine, chitosan finds use in wound dressings, tissue engineering, drug delivery systems, and as an antimicrobial agent due to its biocompatibility and ability to accelerate healing.
- Food and Beverages: Chitosan is employed as a food preservative, clarifying agent, and in water purification due to its ability to bind to impurities and pathogens.
The water treatment segment accounted for the largest share in 2019, holding more than one-third of the global chitosan market, and is expected to maintain the largest share throughout the forecast period. Furthermore, the same segment is expected to register the highest CAGR of 15.9% from 2020 to 2027. This is owing to its biodegradable nature and effectiveness in removing toxic materials.
𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:
- Growing Demand: The market for chitosan is expanding due to increased awareness of eco-friendly materials and the rising demand for natural products in various industries.
- Research and Development: Ongoing research focuses on improving extraction methods, exploring new sources, and enhancing the properties of chitosan for diverse applications.
- Regulatory Considerations: Regulations concerning the use of chitosan in various industries may impact its market growth.
Asia-Pacific, followed by North America, contributed to the highest share, accounting for nearly three-fifths of the global chitosan market share in 2019, and will maintain its dominance throughout the forecast period. Moreover, the region is also expected to grow at the highest CAGR of 15.3% from 2020 to 2027. This is owing to the easy availability of crustacean waste in coastal areas, in this region.
𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬:
- Cost of Production: The cost of extracting chitosan from natural sources can be relatively high, impacting its commercial viability.
- Quality Control: Ensuring consistent quality and purity of chitosan remains a challenge, especially in large-scale production.
- Competitive Landscape: The industry faces competition from synthetic alternatives and other biopolymers that offer similar functionalities.
The chitosan industry continues to evolve, driven by advancements in technology, sustainability initiatives, and the need for versatile, eco-friendly materials in various sectors.
𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -
- Heppe Medical Chitosan GmbH
- Advanced Biopolymers AS
- Primex ehf, G.T.C.
- Bio Corporation
- Novamatrix
- Kitozyme S.A.
- Golden-Shell Pharmaceutical Co. Ltd.
- Agratech International, Inc.
- Panvo Organics Private Ltd
- Qingdao Yunzhou Biochemistry Co. Ltd.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/purchase-enquiry/1737
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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