The global chitosan market is driven by the growth in waste from the seafood industry, increase in applications of chitosan, and support from the government toward waste utilization. The shell waste is processed into chitin and other high-value products. Chitosan extracted from crustaceans such as crabs, shrimp, and lobster is widely applicable in reducing body weight due to its lipid absorption property. Furthermore, growing application of Chitofelx in hemostatic dressing due to its anticoagulant properties is expected to drive the market growth. Chitosan has gained popularity as a functional food ingredient due to its potential health benefits. It has cholesterol-lowering properties, aids in weight management, and possesses antimicrobial and antioxidant properties.
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The chitosan market is segmented on the basis of source, application, and region. On the basis of source, it is divided into shrimp, crab, krill, squid, and others. Based on application, it is categorized into water treatment, biomedical & pharmaceuticals, cosmetics, food & beverages, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA, with country level analysis of each region.
Major players have adopted product launch, business expansion to sustain the intense market competition. The key players profiled in the report include Advanced Biopolymers AS (Norway), Heppe Medical Chitosan GmbH (Germany), G.T.C. Bio Corporation (China), Primex ehf (Iceland), Kitozyme S.A. (Belgium), Novamatrix (Norway), Agratech International, Inc. (U.S.), Golden-Shell Pharmaceutical Co. Ltd. (China), Qingdao Yunzhou Biochemistry Co. Ltd. (China), and Panvo Organics Private Ltd.
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Global Chitosan Market, By Application
The water treatment segment accounted for the highest revenue share in 2019, owing to growing application of chitosan as coagulant in waste water treatment processes due to its biodegradable nature and effectiveness in removing toxic materials. Chitosan, being a biomaterial, is the preferred choice for water treatment plants across the globe due to high purity percentage compared to conventional water treatment methods, such as sand filtration. The food & beverages segment is expected to witness steady growth due to growing demand for chitosan to improve the quality and shelf life of food products of agriculture, poultry, and marine origin.
Key Benefits of the Report:
- The global chitosan market analysis covers in-depth information of major industry participants.
- Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries have been mapped according to their individual revenue contribution to the regional market.
- The report provides an in-depth analysis of the global chitosan market forecast for the period 2020–2027.
- The report outlines the current chitosan market trends and future estimations of the market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
- The key drivers, restraints, and chitosan market opportunity and their detailed impact analysis is elucidated in the study.
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