As per a study published by National Center for Biotechnology Information (NCBI), it is acknowledged that deacetylated chitosan (chitin) is an important additive in filtration and water treatment process. In comparison, while sand filtration can only remove 50% of the turbidity, chitosan and sand filtration together can eliminate 99% of turbidity. Also, it can be used in hydrogen and for treating the wounds. The facts with conviction indicates the growing opportunities for the vendors of the chitosan market. Owning to increasing demand from different sectors, the global chitosan market value stood at $1.3 billion in 2018. And with growing usage of chitosan as a biodegradable product, the market will grow with a compound annual growth rate (CAGR) of 10.05% during the forecast period of 2019-2025.
North America is dominating the chitosan market. As per the report released by the export government, the total US cosmetic market size was estimated to be $9,668 million in 2017. [2] Increasing awareness of self-care activities along with growth of pharmaceutical and food and beverage retail sector is influencing the growth of the North America chitosan market with market share of 20% in 2018.
Chitosan Market: Outlook
The natural bio control and elicitor chitosan is a linear polysaccharide, prepared by treating the crustaceans and shells of shrimps with the alkaline substances such as sodium hydroxide. Chitosan marketplace is expanding due to its number of bio medical uses and application across the industries of wine, agricultural, water treatment.
Cosmetic application has been identified as key segment of the chitosan market. The report by the trade government of the U.S., personal care and cosmetics exports to China is estimated to be $500 billion to $600 billion in 2015, and hence the U.S. cosmetic industry is anticipated to be the largest. [3] Chitosan avoid dehydration and used as a moisturizing agent. The increasing demand for organic and plant based cosmetic products such as hairspray in the emerging region is leading to developments in different beauty products that is boosting the demand of chitosan market. Cosmetic application segment will grow with a CAGR of around 8.10% during the forecast period of 2019-2025.
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Chitosan Market: Drivers
· Agriculture Applications
Chitin and chitosan is used in agricultural field in various sections. The use of chitin as a pesticide help plant from various pests such as insects, fungus, and bacteria. Furthermore, it also helps as a fertilizers and acts as a growth regulator for the crop and plants in the farming field. The growing demand for bio-products in the farming process is stroking demand in the chitosan market.
· Food and Beverage Industry
The chitin used in food (packed food items sometimes) helps to control the transfer of moisture to the food from the environment, and as a natural flavor additive extender to reduce the cholesterol levels. Chitosan also used as a fining agent in wine making to prevent the beverage from getting spoiled. The great use of chitin in food industry is driving the growth of the chitosan market.
· Water Treatment Process
The growing need for clean water is demanding for more materials that can help for in water treatment. Chitosan can attach with micro contaminants and metals easily. The chitosan characteristics such as non-toxic, non-allergic, bio-degradable are attributed with the increase demand for chitosan as a water cleaner. The rising demand for water treatment industry is likely to produce the high revenue to the chitosan market.
· Fish Industry
Chitosan can be used as a diet supplement of the fish. It is one of the better supplement as it do not pollute the water as well as help the fish gain weight. The use of chitosan helps the fish industry gain revenue, which in turn boosting the chitosan market.
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Chitosan Market: Trends
· The stringent laws from government is forcing many vendors to reduce the production of plastic bags and find an alternative way. The growing demand for biodegradable packaging leads to increase demand for bio plastic made up of chitin, also it helps to increase food shelf life without creating pollution. The demand for bio plastic will increase with a high pace in near future that will also significantly support the chitosan market.
· The chitosan can be used in wound care materials such as bandage due to its blood bloating ability. The mounting growth of tissue engineering biomaterials will add the further incentive in the chitosan market.
· The chitosan can be used as an additive supplement that promotes the weight loss. The growing health awareness fueling the demand for fat cutter supplements that will also reflect in the development in the chitosan market.
· The chitin worked find its application in natural polymer. The biological properties associated with it to produce functional materials are now gaining traction for bio printing using injection molding process. The manufacturing of plastic products such as bottles and containers is surely rising the growth of the market.
· The requirement of various research and innovations in the medical industry has found a solution. The use of chitin in application such cardiac tissues, including hemostasis & fixation medical device, absorbable surgical suture will witness the significant evolution in the chitosan market.
Chitosan Market: Challenges
The government policy to reduce the shrimps farming act is one of the challenge in the growth of the market. Later, due to several health benefits and growing demand for the shrimp consumption lead to increase in the farming activities. The shells produced from shrimps and other organisms that are get wasted and thrown away are later, gathered from fish market and processed to bring in the use for different applications.
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Chitosan Market: Key Players Perspective
The major players in the chitosan market are Primex, Heppe Medical Chitosan GmbH, Vietnam Food, KitoZyme S.A., Marshallmarine, Agratech, Zhejiang Golden-Shell Pharmaceutical Co, Panvo Organics Pvt Ltd, Koyo Chemical Co Ltd, Xianju Tengwang Chitosan Factory, and G.T.C. UNION GROUP.
Chitosan Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the fire resistant cable market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of chitosan market, and its segmentation on the basis of end user industries that include medical, cosmetic, agriculture and food packaging industry.
Chitosan Market Report: Industry Coverage
The chitosan market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
Middle East and Africa: Israel, South Africa, Saudi Arabia.
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