Chitosan Market Size is Expected To Reach USD 125.5 million by 2028 With A CAGR of 4.8% | Valuates Reports

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25 May, 2022, 21:00 IST

BANGALORE, India, May 25, 2022 /PRNewswire/ --  Chitosan Market is Segmented by Type - Pharmaceutical Grade, Food Grade, Industrial Grade, by Application - Water and Waste Treatment, Food and Beverages, Healthcare and Medical, Agriculture and Agrochemicals, Cosmetics and Toiletries, Others. Global Opportunity Analysis and Industry Forecast 2022 - 2028. It is published in Valuates Reports under the  Chemicals Industry Category.

Chitosan Market size is estimated to be worth USD 95 million in 2022 and is forecast to a readjusted size of USD 125.5 million by 2028 with a CAGR of 4.8% during the review period.

Major factors driving the growth of the Chitosan Market are

Rising demand for wastewater treatment products to remove impurities such as heavy minerals and phosphorus coupled with increasing use in the cosmetics, food & beverages, medical & pharmaceuticals, and agrochemicals applications will drive the growth of the market.

The personal care industry will boost the chitosan market as it is the main ingredient in hair care, skincare, and dental care products.

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TRENDS INFLUENCING THE GROWTH OF THE CHITOSAN MARKET

Water pollution is a major problem around the globe. Wastewater generated from industries contains contaminants such as dyes, and heavy metals that flow into water bodies without any treatment.

Commercially available sources for water treatment are either too costly or environmentally unfriendly. Bio-based chitosan flocculents are cheaper, easily available, non-toxic, biocompatible, and have good absorption capability.

They effectively remove harmful substances such as fungi, microorganisms, heavy metals, dyes, salts, radionuclides, and fluoride. The widespread application is going to drive the growth of the chitosan market during the forecast period.

Chitosan is used for clarification, preservation, encapsulation, and as an intelligent packaging solution for dairy-based drinks, fruit juices, and alcoholic and non-alcoholic beverages. It coagulates the anionic suspended particles such as pectin, and proteins to increase the turbidity and homogeneity of clarified juices. Chitosan is also an efficient anti-cholesterol additive. The growing food and beverage industry will thereby drive the growth of the chitosan market in the coming years.

The rising pharmaceutical industry will propel the global chitosan market forward in the subsequent years. The chemical is used in wound healing, drug carrier, obesity treatment, and as a scaffold in tissue engineering. There is a growing interest and research on chitosan and its derivatives in the biomedical sector.

Agrochemicals increase crop yield. However excessive use can lead to degradation of soil quality, rivers, and loss of ecological balance. Chitosan has the potential to stimulate plant growth and provide protection against harmful microorganisms.

It positively impacts the growth of roots, shoots, and leaves of several crop plants and is an efficient fertilizer. The use of chitosan in controlled agrochemical release will boost the agricultural sector which in turn will spur the growth of the chitosan market during the forecast period.

The cosmetics sector will bolster the global chitosan market. The compound is used in sunscreens, UV protection creams, surfactants, moisturizers, and as an antimicrobial agent. It is used extensively in hair gels, shampoos, colorants, rinses, sprays, tonics, and lotions. Other prominent uses include teeth, gums, plaque reduction, and oral hygiene.

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CHITOSAN MARKET SHARE ANALYSIS

Based on product type, the industrial-grade segment is expected to dominate the chitosan market share with 67% during the forecast period. It is a low-cost grade chitosan used widely in wastewater treatment and agrochemical applications.

Based on application, the water and wastewater segment will witness significant growth as chitosan has excellent biodegradability, biocompatibility, non-toxicity, and absorption capabilities which makes it ideal for the treatment of wastewater.

Based on region, Asia-Pacific will grow the highest in the chitosan market share with 51% due to huge demand from several end-user industries in emerging economies such as China and India. Europe and North America follow at a total share of 42%.

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Market By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

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Key Companies:

  • Primex
  • Qingdao Yunzhou Biochemistry
  • Norwegian Chitosan AS
  • Ningbo Zhenhai Haixin
  • KitoZyme
  • BIO21
  • Vietnam Food
  • NovaMatrix
  • Golden-Shell Pharmaceutical
  • YSK
  • Weikang Group
  • Jiangsu Aoxin Biotechnology
  • KIMICA Corporation
  • Jiangsu Shuanglin
  • Mirae biotech
  • Jinan Haidebei Marine
  • Meron Group
  • Dainichiseika Color & Chemicals

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