The global chitosan market size is projected to reach USD 28.93 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a revenue-based CAGR of 24.7% during the forecast period. Increasing consumption of bio-derived products in water treatment, cosmetics, food and beverage, and pharmaceutical industries is likely to derive the growth.
Chitosan is marketed under various grades, such as industrial, pharmaceutical, and food depending upon the purity of the product. In the pharmaceutical industry, it is used as diluents for tablets, a binder in wet granulations, dis-integrant, drug carrier, and absorption enhancer. In addition, chitosan and its derivatives can easily penetrate the plasmatic membrane of microorganisms and kill bacteria, fungi, and other parasites. Hence, is used for treating infections in orthopedic, neurological, gynecological, and cardiovascular surgical procedures.
North America is expected to emerge as one of the major markets for chitosan during the forecasted period, registering a CAGR of 19.2% in terms of volume, between 2020 to 2027. The region has experienced a growing demand for chitosan products owing to increasing biobased industries. Manufacturers are heavily investing in R&D activities to develop the pure grade of chitosan. However, high production cost owing to the irregular supply of the raw material is anticipated to hamper market growth over the forecast period.
The market is highly fragmented in nature owing to the presence of a large number of small-scale players, especially in countries including Japan, China, Thailand, and South Korea. These countries have favorable government regulations to promote growth of their fishery industry. Hence, several companies such as Qingdao Yunzhou Biochemistry Co., Kyowa Technos Co., Ltd., Dainichiseika Color & Chemicals Mfg. Co. Ltd., and KIMICA Corporation have manufacturing as well as distribution channels present in the region.
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Further key findings from the report suggest:
- In terms of revenue, chitosan is anticipated to expand at a CAGR of 24.7% from 2020 to 2027, since they are used in large quantities in the production of antiseptics, food items, cosmeticts, medicines, textiles, and other consumer products
- The U.S. chitosan market is anticipated to exceed 36.98 kilo tons by 2025, owing to the abundant availability of raw material, which has further flourished the industrialization in the country
- Some of the key market participants are Panvo Organics Pvt. Ltd.; Qingdao Yunzhou Bioc hemistry Co.; Meron Biopolymers; Advanced Biopolymers AS; Biophrame Technologies; Heppe Medical Chitosan GmbH; United Chitotechnologies Inc.; Foodchem International Corporation; KitoZyme S.A.; and Chitosanlab
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Grand View Research has segmented the global chitosan market on the basis of application and region:
Chitosan Application Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)
- Water Treatment
- Pharmaceutical & biomedical
- Food & beverage
Key Topic Covered
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Secondary Sources & Third-Party Perspectives
1.3.2. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Competitive Insights
Chapter 3. Chitosan Market Variables, Trends, & Scope
3.1. Penetration & Growth Prospect Mapping
3.2. Industry Value Chain Analysis
3.3. Raw Material Outlook
3.4. Technology Overview
3.5. Regulatory Framework
3.5.1. Product Classification Codes
3.5.2. Standard & Compliances
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.7. Business Environment Analysis: Chitosan Market
3.7.1. Industry Analysis – Porter’s
18.104.22.168. Supplier Power
22.214.171.124. Buyer Power
126.96.36.199. Substitution Threat
188.8.131.52. Threat from New Entrant
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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