Report Ocean has recently published a new research report on the global chitosan market. The study, titled “Global Chitosan Market Size study, by Grade (Industrial Grade, Food Grade and Pharmaceutical Grade), by Application (Water Treatment, Food & Beverages, Cosmetics, Medical & Pharmaceuticals, Agrochemicals and Others) and Regional Forecasts 2020-2027,” is prepared after carrying out a detailed analysis of this market, taking the performance of every market segment into consideration, using various research tools.
The unique property of chitosan as a restrictive agent for lipid absorption in gastrointestinal tract has made chitosan quite popular among consumers and has increased its application in dietary supplements. Along with it, chitosan has also found increased usage in healthcare application for hemostatic dressing for wound treatment, thanks to its biodegradability biocompatibility properties. All these factors are boosting the global chitosan market significantly. The global chitosan market reached an approximate valuation of US$1.6 bn in 2019. According to analysts at Report Ocean, it is anticipated to rise at an exponential CAGR of more than 14.5% over the period from 2020 to 2027.
Going forward, the usage of chitosan in agriculture as a bio-pesticide to limit pathogenic impacts on trees and to promote plant growth and treat water are likely to propel the growth of the global market for chitosan in the near future. The rise in its application in polyurethane paints and coatings, food preservatives, and in bio printing of organs is also expected to drive this market over the coming years. In addition to this, the availability of abundant raw material and the augmenting demand for chitosan in the food and beverages, medical and pharmaceuticals, and the agrochemicals industries will add to the growth of this market in the long run.
On the flip side, the presence of strict regulations and compliances related to shrimp farming may restrict the market from progressing smoothly in the coming years. However, the easy availably of fungi waste in agriculture, increasing artificial production of fungi through cheap nutrients by simple chemical procedures, and the surge in demand for bio-based cosmetic products will further propel the chitosan market over the forecast period.
The research study also offers an in-depth regional analysis of global automotive window films market. The report has considered Asia Pacific, North America, Europe, Latin America, and the Rest of the World as the key regional markets for chitosan. Among these, Asia Pacific has surfaced as the most prominent regional market across the world. The soaring demand for chitosan from various end-use industries, such as water treatment, cosmetics, food and beverages, agrochemicals, and medical and pharmaceuticals in Asian countries, such as China and India, is boosting the Asia Pacific chitosan market. Researchers expect this regional market to continue to dominate over the next few years.
Impact of Covid 19 on Global Chitosan Market
The Covid 19 pandemic has affected the global chitosan market significantly. Consumers are spending little money over things that they do not perceive absolute necessity, which is resulting in a loss in demand, reflecting negatively on the market. However, when the situation gets under control, the market will gain its momentum back, assert experts.
- Asia Pacific has surfaced as the most prominent regional market across the world.
- The soaring demand for chitosan from various end-use industries, such as water treatment, cosmetics, food and beverages, agrochemicals, and medical and pharmaceuticals in Asian countries, such as China and India, is boosting the Asia Pacific chitosan market.
The global chitosan market is classified into:
- Industrial Grade
- Food Grade
- Pharmaceutical Grade
- Water Treatment
- Food & Beverages
- Medical & Pharmaceuticals
- North America
- Asia Pacific
- Latin America
- Rest of the World
Companies Mentioned in the Report
- Primex EHF
- Heppe Medical Chitosan GmbH
- Vietnam Food
- Kitozyme S.A.
- Advanced Biopolymers as
- Bio21 Co., Ltd.
- G.T.C. Bio Corporation
- Taizhou City Fengrun Biochemical Co., Ltd.
- Zhejiang Golden-Shell Pharmaceutical Co., Ltd.
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