Chitosan is a natural polycationic linear polysaccharide that is derived from the partial deacetylation of chitin. It is considered as a versatile biomaterial on account of its non-toxic, low allergenic, biocompatible and biodegradable properties. It is widely used in the healthcare industry for treating obesity and manufacturing wound-healing materials. Apart from this, it acts as an excipient and drug carrier in the pharmaceutical industry.
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Chitosan is extensively employed in wastewater treatment for eliminating impurities, such as heavy minerals, oil and phosphorous. The rising need for potable and freshwater represents one of the significant driving factors of the chitosan market. Furthermore, chitosan is employed in the food and beverage (F&B) industry as an additive and dietary supplement. Other factors, such as the escalating demand for bio-based products in the cosmetics industry and widespread chitosan applications in the agriculture, photography, textile, and pulp and paper industries, are projected to fuel the market growth in the upcoming years.
Based on the grade, the market has been segmented into the industrial, food and pharmaceutical grades. At present, industrial grade chitosan exhibits a clear dominance in the market.
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On the basis of the source, the market has been segregated into shrimp, crabs, squids, krill and others. Shrimp currently accounts for the majority of the total market share.
The market has been classified on the basis of the application into water treatment, food and beverages, cosmetics, medical and pharmaceutical, agrochemicals, and others. Amongst these, water treatment holds the largest market share.
Region-wise, Asia Pacific enjoys the leading position. Other major markets include North America, Europe, Middle East and Africa, and Latin America.
The competitive landscape of the market has been examined in the report, with some of the key players being Primex EHF, Heppe Medical Chitosan GmbH, Meron Group, Kitozyme, LLC, Zhejiang Golden-Shell Pharmaceutical Co., Ltd., FMC Corporation (NYSE: FMC), Agra Tech Inc., Axio Biosolutions Private Limited and Marshall Marine Products.
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