The global chitosan market reached a value of US$ 685.5 Million in 2019. Chitosan is a naturally occurring deacetylated chitin which is extracted from the hard outer-skeleton or shells of shrimps, crabs and lobsters, along with mushrooms and yeasts. It is primarily used as an ingredient in medicines for treating various conditions, such as kidney failure, obesity, anemia, high cholesterol levels, hyperphosphatemia, insomnia and Crohn’s disease. In the pharmaceutical manufacturing sector, chitosan is utilized in the development of edible films; as a filler in tablets; a carrier in controlled-release drugs and to improve the dissolvability of certain medicinal salts. Having antibacterial and antifungal properties, chitosan is extensively used as a natural antimicrobial agent in the cosmetics, agricultural and food industries.
The growing pharmaceutical industry, along with the increasing requirement for wastewater treatment across the globe represent the key factors driving the growth of the market. In the pharmaceutical industry, chitosan being a biomaterial with antibacterial and antimicrobial properties is gaining demand in the production of biomedical and tissue regeneration devices, hemodialysis membranes, and implant coatings for drug delivery systems. Furthermore, its demand is also increasing in the water treatment plants for eliminating impurities present in the industrial, municipal, and commercial waste, including heavy minerals, phosphorous and oils. It is also used as a flocculating, coagulating, and chelating agent, which is further acting as a major growth-inducing factor. Additionally, owing to its non-toxic nature, chitosan is increasingly being adopted as a food additive and dietary supplement. Other factors contributing to the market growth include various government policies aimed to improve the quality of surface, ground and drinking water, coupled with the enhanced research and development (R&D) to develop chitosan from non-aquatic sources. Looking forward, IMARC Group expects the global chitosan market to exhibit strong growth during 2020-2025.
IMARC Group provides an analysis of the key trends in each sub-segment of the global chitosan market report, along with forecasts for growth at the global, regional, and country-level from 2020-2025. Our report has categorized the market based on region, grade, source, and application.
The report has also analysed the competitive landscape of the market with some of the key players being Primex EHF, Heppe Medical Chitosan, Advanced Biopolymers AS, Meron Biopolymers, Kitozyme, Golden-Shell Biochemical, FMC Corporation, Agratech, Axio Biosolutions, Marshall Marine Products, etc.
The global chitosan market was worth around US$ 685.5 Million in 2019.
According to the estimates by IMARC Group, the global chitosan market will exhibit robust growth during the next five years.
Chitosan is extensively utilized in the manufacturing of biomedical and tissue regeneration devices and implant coatings for drug delivery systems. This, in confluence with the burgeoning pharmaceutical industry, is driving the chitosan market.
The growing utilization of chitosan in wastewater treatment for removing toxic impurities discharged from municipal, industrial and commercial waste represents one of the significant trends in the market.
Due to the sudden outbreak of the coronavirus disease (COVID-19), travel restrictions and lockdowns have been imposed by governments of numerous countries. As a result, the sales of fish and fish products have declined over the past few months. Since chitosan is obtained from the hard exoskeleton of crabs, shrimps and lobsters, the market has experienced a negative impact on account of the pandemic.
On the basis of the grade, the market has been segmented into the industrial, food and pharmaceutical segments.
Based on the source, the market has been segregated into shrimp, crab, squid, krill and others.
The market has been analyzed on the basis of the application into water treatment, food and beverages, cosmetics, medical and pharmaceuticals, agrochemicals, and others.
On the geographical front, the market has been classified into Asia Pacific, North America, Europe, Latin America, and Middle East and Africa.
Leading industry players are Primex EHF, Heppe Medical Chitosan GmbH, Meron Group, KitoZyme SA, Golden-Shell Pharmaceutical Co. Ltd., FMC Corporation, Agra Tech, Inc., Axio Biosolutions Pvt Ltd and Marshall Marine Products.
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