Chitosan is a type of carbohydrate with number of sugar molecules bonded closely. It consists of chitosan and chitin, which are two renewable and naturally abundant polymers having properties such as biodegradability, nature-friendly, adsorption and non-toxicity. This compound has numerous applications 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 growth in global chitosan market is due to the rise in demand for the products used for treatment of contaminated water. It removes pollutants such as heavy minerals, oils, and phosphorous which are responsible for the deterioration of the water quality. Furthermore, in the recent times, there has been a scarcity of fresh water because of rapid industrialization and rise in population. According to an article by Germany trade and invest the food and beverage industry of Germany had a production value of USD 208.65 billion in the year 2015. Moreover, confectionary and snack product market has value of USD 14.75 billion in the year 2015.
The Global Chitosan Market is expected to reach USD 9.3 billion by 2025, from USD 6.2 billion in 2017 growing at a CAGR of 5.2% during the forecast period of 2018 to 2025.
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The global chitosan market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of chitosan market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players:
Some of the major players operating in the global chitosan market are – Qingdao Yunzhou Biochemistry Co., Panvo Organics Pvt. Ltd., Advanced Biopolymers AS, Meron Biopolymers, Biophrame Technologies, United Chitotechnologies Inc., Heppe Medical Chitosan GmbH, KitoZyme S.A, Kraeber & Co. GmbH, Foodchem International Corporation, Chitosanlab, FMC Corporation, Golden-Shell Pharmaceutical Co. Ltd., Primex EHF, Nano3Bio, Koyo World (Hong Kong) Co. Ltd., Dainichiseika Color & Chemicals Mfg. Co. Ltd., KYTOSAN LLC, PT Biotech Surindo, BioPhrame Technologies, Biothera among others.
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The global chitosan market is segmented based on source, application and geographical segments.
Based on source, the global chitosan market is segmented into oxidation of shrimp, crab, squid and krill.
On the basis of application, the global chitosan market is classified into water treatment, pharmaceutical & biomedical, cosmetics, food & beverage, industrial, agrochemical and others.
Based on geography, the global chitosan market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Major Market Drivers & Restraints:
- Growing water treatment applications globally
- High growth of cosmetics with organic ingredients
- High cost of production
- Abundant availability of raw materials
- Lack of purity
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