Chitosan Industry | Key Player, Share, Growth, Trends, Demand and Regional Outlook by 2024

27/mag/2020 13:20:55 Tejas Amale Contatta l'autore

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Focus on Exploration of Newer Chitosan-based Products to Fuel Global Chitosan Market Growth

 

Chitosan is an amino polysaccharide derived from chitin from the deacetylation process. The chitosan can be derived from a range of sources such as crustaceans’ shells, fungi, and insects. It has wide-ranging applications across agriculture, food and beverages, and medicinal products.

The polysaccharide has found its role in water treatment applications. As it is a naturally derived chemical and growing awareness about the benefits of using chitosan as a cleaning agent, its demand is estimated to increase in the coming years. Growing demand for clean water and harsh regulations implicated on industries over water treatment and cleaning are augmenting demand for chitosan and in turn, propel the growth of the market.

Growing demand for organic cosmetics and inclination towards more natural products encouraging its usage. This is likely to be one of the key factors fueling growth of the global chitosan market. Along with this, the availability of abundant raw material at an affordable cost to produce chitin and chitosan is driving market growth. However, the high cost of production is slowing the acceptance of the chitosan and turn is hampering growth of the market.

The global Chitosan Market is estimated to grab a value of USD 7.35 billion by expanding at a stellar CAGR of 7.1% from 2019 to 2024 (forecast period). This growth is primarily attributable to widening applications across food and beverages, pharmaceuticals, and cosmetics owing to its excellent properties of cholesterol, triglyceride trapping, antioxidant activity, antibacterial and hypoglycemic effects. These properties have surged their applications in pharmaceuticals for preventing chronic diseases. In addition to this, it has applications for the treatment of maladies such as Crohn’s disease, obesity, and high cholesterol. Rising incidence of these diseases are fueling market growth. Further, it has a key role in lowering complications due to kidney failure including insomnia, anemia, and surge in cholesterol level in the body.

 

Competitive Analysis:

 

Some of the key players operating in the global Chitosan Market are Primex ehf (Iceland), KitoZyme S.A. (Belgium), Heppe Medical Chitosan GmbH (Germany), Advanced Biopolymers AS (Norway), G.T.C. Bio Corporation (China), BIO21 Co., Ltd. (Thailand), Taizhou City Fengrun Biochemical Co., Ltd. (China), Panvo Organics Pvt., Ltd. (India), Zhejiang Golden-Shell Pharmaceutical Co., Ltd. (China), Xianju Tengwang Chitosan Factory (China), Golden-Shell Pharmaceutical Co. (China), Dupont Corporation (US), PT Biotech Surindo. (Indonesia), Jinan Haidebei Marine Bioengineering Co. Ltd. (China), and Dainichiseika Color & Chemicals (Japan).

 

Segmentation:

 

The chitosan market is segmented based on source, application, and region.

In terms of source, the global chitosan market is categorized into shrimps, crabs, lobsters, prawns, fungi, and others.

In terms of application, the chitosan market is segmented into pharmaceuticals & nutraceuticals, food & beverages, agriculture, cosmetics & personal care, and others.

As per the region, the chitosan market is segmented into North America, Asia-Pacific, Europe, and the Rest-of-the-World (RoW).

Regional Analysis:

 

Regionally, North America region is estimated to dominate the global chitosan market owing to growing demand for organic and naturally derived chemicals for several applications including water treatment. Additionally, increasing applications of chitosan across food and beverages, as well as cosmetic and personal care industries in the region, are augmenting growth of the global chitosan market. However, Asia Pacific is estimated to expand at a significant growth rate over the forecast period owing to the presence of several manufacturers in Japan and China. Also, rapid industrialization in the emerging economies in the region including India and Thailand are estimated to account for a significant share in the revenue of the global chitosan market.

Industry News:

 

The rising exploration of biodegradable films which can be used as an alternative to traditional plastic or polymers is augmenting the usage of chitosan films for food storage and packaging. Rising adoption and investment on production of more suitable films for food and beverages industry owing to its non-toxic nature is likely to offer robust opportunities for growth in the coming years.

 

View Full Report@ https://www.marketresearchfuture.com/reports/chitosan-market-2269

 

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