The report “Chitosan Market by Grade (Industrial, Food, and Pharmaceutical), Application (Water Treatment, Food & Beverages, Cosmetics, Medical & Pharmaceuticals, and Agrochemicals), and Region (Asia Pacific, North America, Europe, Row) – Global Forecast to 2022″, The chitosan market is projected to grow from USD 553.6 Million in 2017 to USD 1,088.0 Million by 2022, at a CAGR of 14.5% during the forecast period. Chitosan is used in the water treatment, food & beverages, cosmetics, medical & pharmaceuticals, and agrochemicals applications. The other applications of chitosan include pulp & paper and textiles. The growth of the chitosan market across the globe can be attributed to the unique properties such as high biocompatibility, excellent biodegradability, and ease of chemical modification offered by chitosan, and adequate and easy availability of raw materials used for manufacturing chitosan.
Browse 79 market data Tables and 26 Figures spread through 103 Pages and in-depth TOC on “Chitosan Market”
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Some of the leading players operating in the chitosan market include Primex ehf (Iceland), Heppe Medical Chitosan GmbH (Germany), Vietnam Food (Vietnam), KitoZyme S.A. (Belgium), Agratech (US), Advanced Biopolymers AS (Norway), BIO21 Co., Ltd. (Thailand), G.T.C. Bio Corporation (China), Taizhou City Fengrun Biochemical Co., Ltd. (China), and Zhejiang Golden-Shell Pharmaceutical Co., Ltd. (China).
Primex ehf (Iceland) is one of the leading manufacturers of chitosan across the globe. The company provides chitosan for various applications such as water treatment, food & beverages, medical & pharmaceuticals, and cosmetics. The company is located in Iceland, that is, in the middle of the North Atlantic Ocean that gives it a competitive advantage over other players operating in the chitosan market. The company produces high-quality chitosan from the shells of shrimp found in the North Atlantic Coldwater.
Heppe Medical Chitosan GmbH (Germany) is another leading manufacturer of chitosan across the globe. The company offers high purity chitosan. It also offers chitin and derivatives of both, chitin and chitosan. The company serves cosmetics and medical & pharmaceuticals sectors. Apart from manufacturing chitosan, the company also provides assistance to its customers for using chitosan or chitin in various technological processes.
Vietnam Food (Vietnam) is the largest manufacturer of proteins extracted from the aquatic products in Vietnam. The company offers products for the bio-pharmaceutical industries. The company offers chitin and chitosan through its bio-pharmaceutical division.
The Asia Pacific chitosan market is expected to witness high growth during the forecast period due to the increasing demand for chitosan from emerging economies such as China and India. Several international and domestic players operating in the chitosan market are investing in the Asia Pacific region, thereby leading to the growth of the chitosan market in the region.
Based on application, the agrochemicals segment of the chitosan market is projected to grow at the highest CAGR, in terms of volume during the forecast period. Chitosan is used in the agriculture sector for different applications. Chitosan-treated seeds have shown accelerated and enhanced growth. Addition of chitosan to soil results in a significant reduction in root knots, infections, and fungal pathogens among plants. It also protects plants from fungus, viruses, and nematodes, thereby stimulating the plant growth.
Based on grade, the industrial grade segment of the chitosan market is projected to grow at the highest CAGR, in terms of value during the forecast period. Industrial grade chitosan is used as an alternative to chemical products in applications such as water treatment, agrochemicals, pulp & paper, and textiles. It is used as an adsorbent and a flocculent in the water treatment application. Chitosan coagulates toxic heavy metals and organic compounds. It adsorbs dyes and small concentrations of phenol present in the industrial wastewater.
The Asia Pacific chitosan market is projected to grow at the highest CAGR, in terms of value during the forecast period. The growth of the Asia Pacific chitosan market can be attributed to the easy availability of both, raw materials on a large scale and low-cost labor, coupled with significant domestic demand for chitosan from the region. The increasing inflow of wastewater from various industries and growing demand for fresh water is expected to drive the growth of the Asia Pacific chitosan market during the forecast period.
Chitosan is increasingly used in the water treatment and agrochemicals applications across the globe. The increasing demand for fresh water across the globe is leading to the growing use of chitosan for water treatment to enable reuse of the treated water.
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