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The global chitosan market reached a value of US$ 2.49 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 12% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
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.
IMARC Group provides an analysis of the key trends in each sub-segment of the global chitosan market, along with forecasts at the global and regional level from 2021-2026. Our report has categorized the market based on grade, source and application.
Breakup by Grade:
Breakup by Source:
Breakup by Application:
Breakup by Region:
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.
|Base Year of the Analysis||2020|
|Segment Coverage||Grade, Source, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Companies Covered||Primex EHF, Heppe Medical Chitosan, Advanced Biopolymers AS, Meron Biopolymers, Kitozyme, Golden-Shell Biochemical, FMC Corporation, Agratech, Axio Biosolutions and Marshall Marine Products|
|Customization Scope||10% Free Customization|
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The global chitosan market was valued at US$ 2.49 Billion in 2020.
We expect the global chitosan market to exhibit a CAGR of around 12% during 2021-2026.
The increasing utilization of chitosan for treating serious medical conditions, such as kidney failures, anemia, hyperphosphatemia, cardiac arrest, etc., represents one of the key factors driving the global chitosan market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing facilities for chitosan.
Based on the grade, the global chitosan market can be segregated into industrial grade, food grade, and pharmaceutical grade. Currently, industrial grade holds the majority of the total market share.
Based on the source, the global chitosan market has been bifurcated into shrimp, crab, squid, krill, and others. Among these, shrimp represents the largest segment.
Based on the application, the global chitosan market can be categorized into water treatment, food & beverages, cosmetics, medical & pharmaceuticals, agrochemicals, and others. Currently, the water treatment segment accounts for the largest market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global chitosan market include Primex EHF, Heppe Medical Chitosan GmbH, Meron Group, KitoZyme SA, Golden-Shell Pharmaceutical Co. Ltd., FMC Corporation, Agra Tech, Inc., Axio Biosolutions Pvt Ltd., Marshall Marine Products, etc.
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