The chitosan market was projected to reach USD 1,088.0 Million by 2022, at a CAGR of 14.5% between 2017 and 2022. Chitosan is a natural fiber, which is derived from chitin. It is found in the outer shells of different types of shellfish such as shrimp, crabs, and lobsters. It is used for the treatment of water as it absorbs toxic substances, greases, oil, and metals from water. Chitosan is also used in various applications such as food & beverages, cosmetics, agrochemicals, and medical & pharmaceuticals.
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Chitosan is used in the water treatment application due to its biosorbent ability, which enables it to remove pollutants from wastewater. The wastewater from industries and other such sources is a severe threat to the environment. The contaminants present in industrial wastewater deteriorate the quality of water and as such, are a threat to the aquatic life. Chitosan is one of the inexpensive materials used for the treatment of water. It offers outstanding absorbing capabilities than any other absorbent. Thus, these factors lead to the increased use of chitosan in the water treatment application, thereby contributing to the growth of the water treatment application segment of the chitosan market.
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).
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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.
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