Market Overview
As per the analysis reports, theglobal Chitosan Market Size is estimated to thrive at a healthy CAGR of over
7.1% during the review timeframe. The report further predicts that the market
will acquire over USD 7.35 billion by 2024.
Chitosan refers to a linearpolysaccharide, and it is obtained by treating the chitin shells of shrimp and
other crustaceans using an alkaline substance, such as sodium hydroxide. The
global Chitosan Market has registered enormous growth in the last few years. The
market's growth is primarily attributed to the increasing demand from the
cosmetics and personal care industries across the globe. Furthermore, the
factors such as increasing scope for application in wastewater treatment, wide
use of chitosan in food products & beverages, and growing adoption in
agriculture industries are also projected to boost the demand for the market
over the coming years. on the other hand, the abundant availability of raw
materials and high production cost is projected to have an adverse impact on
the market's growth.
Segment Analysis
The global Chitosan Market has beenfragmented into several segments based on source, application, and region.
Based on the source, the ChitosanMarket Size is split into fungi, shrimps, lobsters, crabs, prawns, andothers.
Based on application, the global ChitosanMarket is split into agriculture, food & beverages, cosmetics &
personal care, pharmaceuticals & nutraceuticals, and others.
Regional Analysis
The global Chitosan Market is analyzedacross five major regions: North America, Latin America, Asia-Pacific, Europe,
and the Middle East & Africa.
The MRFR analysis suggests that theNorth American region is projected to lead the global Chitosan Market over the
assessment era. The regional market's growth is mainly credited to the growing
demand for naturally derived water treatment chemicals across the region. In
addition, the presence of prominent market players using chitosan in personal
care products and food products is another crucial factor causing an upsurge in
the regional market's growth. Furthermore, the growing applications for
chitosan in the cosmetics and baked food market are likely to catalyze the demand
for chitosan over the assessment timeframe.
The Chitosan Market for theAsia-Pacific region is likely to record the highest growth rate over the
forecasted timeframe. The regional market's growth is mainly credited to the
presence of a large number of chitosan buyers acrossChina and Japan. Furthermore, the easy availability of raw materials is another
major aspect boosting the regional market's growth. In addition, the factors
such as the increasing application of chitosan in several end-user industries
and speedy urbanization across the developing nations are projected to
positively impact the regional market's growth over the assessment timeframe.
Competitive Analysis
The global Chitosan Market has astrong and competitive landscape. The players worldwide are implementing
numerous growth policies such as mergers, strategic collaborations, etc., in
order to grow their global market footprint. In addition, the growing number of
research & development activities in the field to launch innovative
solutions is set to encourage new entrants to enter the global Chitosan Market.
the global Chitosan Market has prominent players such as Jinan Haidebei Marine
Bioengineering Co. Ltd. (China), Dainichiseika Color & Chemicals (Japan),
Golden-Shell Pharmaceutical Co. (China), Xianju Tengwang Chitosan Factory
(China), Zhejiang Golden-Shell Pharmaceutical Co., Ltd. (China), G.T.C. Bio
Corporation (China), Advanced Biopolymers AS (Norway), Heppe Medical Chitosan
GmbH (Germany), P.T. Biotech Surindo. (Indonesia), Dupont Corporation (U.S.),
Primex ehf (Iceland), Panvo Organics Pvt., Ltd. (India), KitoZyme S.A.
(Belgium), Taizhou City Fengrun Biochemical Co., Ltd. (China), and BIO21 Co.,
Ltd. (Thailand) among several others.
Recent Developments
· March 2022- the leading innovator ofchitosan chemistry solutions for water treatment, agriculture, and textile, Tidal Vision Products, Inc., has announced that ithas officially been certified by N.S.F. International for selling naturally
derived, biodegradable chitosan product, Tidal Clear™ PW, to drinking water treatmentfacilities. The move signifies an industry shift in drinking water treatment
processing, where the non-biodegradable aluminum-based coagulants are still in
use.
· March 2022- Tidal Vision, a firm that got afinancial boost from the Port of Bellingham, is set to make a big splash in the
water treatment industry. The company has introduced a technique of extracting
a biopolymer called chitosan from crab shells.
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