The market study covers the crosswise segments. It purposes at estimating the market size and the growth prospective of the market segments, such as supplier, application, organization size, business vertical, and region. The study also includes a detailed competitive analysis of the key players in the market, along with their enterprise profiles, key observations related to product and industry offerings, new developments, and key market plans.
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Chitosan also is known as deacetylated chitin, is a sugar, which is extracted from the shells of crustaceans such as lobster, crab, and shrimps. The waste shell categorized with a high amount of chitin is further treated to produce glucosamine. It is used to treat Crohn’s disease such as Ileocolitis, obesity and high cholesterol. Further, it is also used in the treatment of insomnia, and anemia. Chitosan is also produced from certain fungi.
Chitosan Market: Drivers and Restraints
Due to the non-toxicity property of chitosan, it is used as an absorbent material for removing waste from water. Thus, increasing the usage of Chitosan for the treatment of wastewater is driving the demand for the chitosan market. Further, owing to moisture-retention abilities the application of chitosan has increased in cosmetics industries this has resulted in boosting the market growth. The growing application of chitosan in food & beverage, agriculture, pharmaceuticals, paper, textiles, and others are fueling the market growth. Chitosan is also used as a fining agent in winemaking. Fungal sources of chitosan decrease oxidized polyphenolics in wine & juice and control the decay of yeast Brettanomyces.
Moreover, rising demand for bio-based color cosmetics such as eyeshadows, nail polishes, lipsticks and so on is estimated to push demand for the chitosan market during the forecast period. In addition, usage of chitosan in biomedical applications such as drug carrier, wound accelerator, fat binder, and other is likely to generate growth opportunity in an upcoming year. On the other hand, the high production cost of chitosan and inconsistency of the products due to weather and chemical factors may hamper the growth of the chitosan market.
Asia Pacific Region Dominates the Growth of the Chitosan Market
Among the geographies, the Asia Pacific region dominates the growth of the chitosan market. Factors such as growth in cosmetic industries, food & beverages, and pharmaceuticals in countries such as India, China, and Korea are anticipated to drive the growth of the chitosan market. Further, the demand for chitosan in Japan is high due to the use of chitosan in water treatment and the presence of lavished raw material. The awareness about the benefits offered by the chitosan is now being spreading in other parts of the region.
Chitosan Market: Segmentation
The report on global chitosan (Chitin) market covers segments such as source, and applications. On the basis of source, the sub-markets include squid, shrimp, krill, crab, and others. On the basis of applications, the sub-markets include food & beverages, water treatment, cosmetics, biomedical & pharmaceuticals, paper industry, textile industry, agriculture, photography, and others.
Chitosan Market: Competitive Landscape
The report provides profiles of the companies in the market such as Agratech LLC, Advanced Biopolymers As, Heppe Medical Chitosan GmbH, Qingdao Corporation, Primex ehf, Novamatrix, Foodchem International Corporation, Golden-Shell Pharmaceutical Co.Ltd, KitoZyme SA, and Panvo Organics Pvt Ltd.
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- Comprehensive analysis of global as well as regional markets of the chitosan.
- Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2024.
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- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.