The Chitosan market is projected to grow at a CAGR of 24.9% to reach USD 40.34 billion by 2027 from 8.4 USD billion in 2020. The growth of the Chitosan market is often dedicated to the unique properties of Chitosan. Chitosan is biodegradable, bioactive, biocompatible, and nontoxic in nature. These characteristics are very much useful in water treatment, cosmetics, medical & pharmaceuticals, food & beverages, and agrochemicals applications thus driving the market. In 2020, Asia Pacific dominated the market by region in terms of both value and volume.
The outbreak of the COVID-19 pandemic has expanded the market for Chitosan. China became the epicenter of the SARS-CoV-2 outbreak in December 2019, which later spread internationally. In 2020, the World Health Organization (WHO) declared COVID-19 a global health emergency. Addressing the impacts of viral diseases like COVID-19 has required research and development activities by researchers around the world. Therefore, the COVID-19 outbreak is expected to positively impact the growth of the market, as the application of chitosan polymer as a virus inhibitor will create key development opportunities shortly.
|Water Treatment||The water treatment segment holds the largest market share during the forecast period. Chitosan is a natural fiber. Due to its biocompatibility, bioactivity, toxicity, biodegradability, fiber feeding properties and adsorption capacity, it is used in a wide variety of applications such as coagulants, water treatment and flocculants in water treatment.||Positive|
|Pharmaceutical & biomedical||The pharmaceutical and biomedical applications of chitosan and its derivatives are arousing growing interest and significant development has been achieved. Chitosan and its derived nanoparticles can be used as transport materials for nano-delivery systems and have a wide range of biomedical applications, such as drug delivery, vaccine delivery and antimicrobial agents, bacteria and wound healing.||Positive|
|Food & beverage||The chitosan substrate can be used in beverages as an active preservative and encapsulation. These positively charged polysaccharides are used in the clarification of beverages. Low molecular weight chitosan is preferred for encapsulation of bioactive compounds. The structural and physicochemical properties of chitosan may be suitable for each application.||Positive|
|Cosmetics||Chitosan and its derivatives have many interesting functions in cosmetic preparations, i.e. film-forming agent, colloidal agent, viscosity increasing agent, humectant, antibacterial, anti-inflammatory, antioxidant and anti-aging properties, and stabilizers emulsion.||Positive|
The research report analyses the ecosystem of Chitosan and categorizes the Chitosan Market to forecast the revenues and analyse the trends in each of the following below mentioned market segments.
The unique insights provided by this report also includes the following:
In terms of Source, shrimp chitosan segment is estimated to be the largest segment during the forecast period
In terms of source, the shrimp chitosan segment accounted for the highest share of the market, some of the driving factors include, strong demand for shrimp chitosan for water treatment and in the food industry. Chitosan derived from shrimp cells is biocompatible and biodegradable and non-toxic, unlike other chemicals.
By grade, the industrial Grade is expected to be the largest segment
The industrial-grade chitosan segment is accounted for the largest market share by both volume and value. The factors that can be attributed to the growing demand for non-chemical products/technologies such as membranes and UV disinfection in water treatment and agrochemical applications are accelerating the demand for the industrial-grade chitosan segment.
Asia-Pacific is expected to be largest segment in the forecast period
In 2020, Asia-Pacific dominated the market by region both in terms of value and volume. The Asia-Pacific holds the largest share of chitosan, due to the easy wastage of shellfish in coastal areas. Additionally, shellfish are produced and consumed in large quantities in China, Japan, and Thailand, making shell scraps readily available in this region. North America is expected to experience significant growth, driven by increased adoption of chitosan-based biomedical and pharmaceutical products, including dressings and weight loss supplements.
The report also provides analysis of recent news and developments in the Chitosan markets value chain:
|Sr. No.||Date||News Category||Description|
|1||Feb 2019||Product launch||Axio Biosolutions introduces MaxioCel, cutting-edge innovation in advanced wound care. Business Wire India launching the innovation in wound care, AxioBiosolutions has introduced MaxioCel, a next-generation wound care dressing made out of chitosan.|
|2||September 2019||Business Expansion||Axio Biosolutions, a MedTech business invested by Ratan Tata's UC- RNT, has become the world's biggest producer of chitosan medical sponges. This excellent bio-material has potential applications in wound care management. Recently, Axio Biosolutions, headquarters located in Bengaluru, grown its manufacturing facility at Gujarat Pharma Techno Park in Ahmedabad to one million units yearly, according to a business statement.|
The key players operating in the market are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.