New York, U.S., Sept. 28, 2022 (GLOBE NEWSWIRE) — Market overview
According to a comprehensive research report by Market Research Future (MRFR), “Chitosan market Information by source, Application and Region – Forecast to 2030the market is expected to acquire a size of over $8.7 billion by the end of 2030. The report further predicts that the market will flourish at a healthy CAGR of over 25.9% during the period. of examination.
Chitosan, a linear polysaccharide, is obtained by applying an alkaline material, such as sodium hydroxide, to the chitin shells of shrimp and other crustaceans. There are several potential industrial and medical applications for chitosan. The uses of chitosan include those in the food and beverage sector, the pharmaceutical and nutraceutical industries, the personal care industry, and the agricultural sector. When applied to seeds or used as a biopesticide, chitosan helps plants resist fungal diseases. Chitosan is used as a fining agent and antimicrobial in the beverage industry, especially in winemaking.
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|Market size 2030||$8.7 billion|
|Forecast units||Value (USD billion)|
|Report cover||Revenue forecasts, competitive landscape, growth factors and trends|
|Segments Covered||by source, application, region|
|Geographical areas covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key Market Drivers||Growing demand from the cosmetics industry|
|Growing scope of use in the wastewater treatment industry|
The biggest companies in the sector are funding research into more efficient and safer manufacturing processes. Market leaders are also striving to diversify their product offerings by creating a wide variety of chitosan products that vary in purity and hence are applicable in a variety of end-use sectors. In order to have quick and easy access to supplies, most of the world’s major companies are located near waterways.
- Primex ehf (Iceland)
- Heppe Medical Chitosan GmbH (Germany)
- KitoZyme SA (Belgium)
- Advanced Biopolymers AS (Norway)
- BIO21 Co., Ltd. (Thailand)
- GTC Bio Corporation (China)
- Taizhou City Fengrun Biochemical Co., Ltd. (China)
- Zhejiang Golden-Shell Pharmaceutical Co., Ltd. (China)
- Panvo Organics Pvt., Ltd. (India)
- Xianju Tengwang Chitosan Factory (China)
- Dupont Corporation (USA)
- Golden-Shell Pharmaceutical Co. (China)
- PT Biotech Surindo. (Indonesia)
- Dainichiseika Color & Chemicals (Japan)
- Jinan Haidebei Marine Bioengineering Co.Ltd. (China)
Natural compounds like chitosan are predicted to see increased demand as people become more aware of the harmful effects of conventional pesticides and seek more environmentally friendly methods of managing crop diseases. Expanding the potential applications of the product in wastewater treatment and cosmetics industry is also expected to help in the development of the market. New large-scale pharmaceutical manufacturing facilities have sprung up in the region as restrictive laws that previously prevented their construction have been eased.
The substance has many agricultural uses, including as a fertilizer to regulate the release of pesticides, as a coating material for fruits and vegetables, and as a seed coating material, all of which work together to increase plant strength and yield. . The antibacterial and antifungal qualities of the product also make it useful for controlling seed-borne diseases. Because chitosan treatments for seeds produce physical barriers (films) surrounding the surface of the seeds, the qualities of the seed are preserved.
Expanding potential uses of chitosan in the cosmetics and personal care industries, as well as its use in wastewater treatment, are factors that are expected to drive the global chitosan market forward. The widespread application of chitosan in the food and beverage sector, as well as in the agricultural sector, is also expected to contribute to the expansion of the chitosan market in the coming years. The fact that it has anticoagulant characteristics is also expected to boost the demand for haemostatic dressings. Another factor that is expected to drive the expansion of the market over the forecast period is the growing demand for cosmetics made from natural ingredients.
However, in the face of a shortage of marine debris, there has been an increase in the number of other sources of commercial chitosan, such as mushrooms, snails and other molluscs. Profitable opportunities for the expansion of the chitosan market may result from the widespread availability of fungal waste in agriculture and the artificial creation of fungi using inexpensive nutrients through simple chemical techniques.
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However, during the projection period, the overall chitosan market size is expected to be hampered by restraints such as high manufacturing costs and abundant supply of raw materials.
The chitosan industry is expected to suffer from the widespread spread of the COVID-19 pandemic. An economic downturn and tightening borders in a number of countries hurt sales of personal care products like cosmetics and toiletries across the board.
Market segmentation :
Considering the growing demand for shrimp chitosan in water treatment and food & beverage industries in 2019, this sub-segment is expected to generate the largest revenue share in 2019. Compared to other chemicals, chitosan made from shrimp cells is superior because it is safe. , biocompatible and biodegradable.
The growing need for chitosan to improve the quality and preservation of food products of agricultural, poultry and marine origin is driving the expansion of the industry in the food and beverage sector.
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During the projected period, the chitosan market in North America is expected to be the largest regional market globally. The chitosan market is expected to grow due to the growing need for water treatment chemicals generated from natural sources. Furthermore, the presence of major industry players using chitosan in food products and personal care products in the region is fueling the expansion of the chitosan market in this region. The expansion of the chitosan industry in the region is fueled in large part by its increasing use in baked goods and cosmetics.
Throughout the projected period, Asia-Pacific will show the highest CAGR in the chitosan industry. Market expansion is driven by the abundance of chitosan producers in Japan and China and the convenience of finding raw materials there. The rapid industrialization of countries like India, China, and Thailand is also expected to contribute to the expansion of the chitosan market in the region.
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