The Europe chitosan market was valued at US$ 348.97 million in 2018 and is projected to reach US$ 920.95 million by 2027
NEW YORK, July 28, 2020 /PRNewswire/ -- The Europe chitosan market was valued at US$ 348.97 million in 2018 and is projected to reach US$ 920.95 million by 2027, it is expected to grow at a CAGR of 11.4 % during the forecast period.
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Chitosan is a natural fibrous material derived from chitin.It is a substance produced in the outer shell of some shellfishes such as lobsters, crabs, and shrimps.
Shrimps are considered to be major source of chitosan as they contain ~20-40% of chitin content, whereas crab shells contain ~15-20% chitin.Certain varieties of fungi have also been known to produce low amounts of chitin in their cell walls.
However, the unavailability of an optimal procedure for commercial-scale chitin extraction from fungi makes it a less used source for obtaining chitosan.The polymer is a rich fiber source and is increasingly being incorporated into dietary supplements for promoting weight loss as it blocks the absorption of cholesterol and dietary fats; therefore, it is being used in medicines to cure medical conditions such as high cholesterol, obesity, and Crohn's disease.
Chitosan is also directly applied on the gums to alleviate inflammation of gums.
Based on grade, the Europe chitosan market has been segmented into industrial grade, food grade, and pharmaceutical grade.The industrial grade segment dominated the market in 2018.
However, the market for food grade chitosan is expected to grow at a rapid pace during forecast period.Offshore crabs and shrimps are basic sources used for the production of industrial-grade chitosan.
This grade is versatile and due to its solubility, high density of positive charges, and reactive free amino groups that make it suitable for industrial applications.The industrial grade chitosan acts as a chelating agent and a heavy metal trapper.
Its n-benzyl sulphonate derivatives are used as a sorbent to remove metal ions in acidic medium. The industrial grade polymer is used as a dye deepening agent in the textile industry. Since chitosan is a form of the cationic polymer, it is used as a fixing agent for anionic dyes. Salt-free dyeing is also possible using chitosan with some other additives. In the agriculture industry, the food grade chitosan is widely used in the agricultural industry in the form of coatings for seed, leaf and fruit. It is also used in the form of vegetable coating as a fertilizer. It is also applied in a controlled agrochemical release to stimulate plants immunity, increase plant yield, and provide protection against microorganisms.
Based on country, the Europe chitosan market is segmented into Germany, the UK, France, Italy, Spain, and Rest of Europe.In 2018, Germany was the major market for chitosan.
The production and consumption of chitosan products have consistently risen in the last decade due to growing living standards of consumers driving the demand for functional food and beverages.The antimicrobial activity and film-forming property of chitosan make it a potential food preservative or coating material that is of natural origin.
Chitosan has been declared as an excipient in the pharmaceutical industry and used as a tablet disintegrant; it is also used for direct compression of tablets, production of controlled release solid dosage forms, and improvement of drug dissolution.
Advanced Biopolymers AS, KitoSano S.L., FMC Corporation, Heppe Medical Chitosan GmbH, KitoZyme LLC, and Primex EHF are among the major players operating in the Europe chitosan market.
In December 2019, Wuhan (China) reported the emergence of COVID-19 outbreak, and since then, it has spread at a fast pace worldwide.As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst-affected countries in terms confirmed cases and reported deaths.
The pandemic has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.The closedown of various industries, including chemicals and materials industry, and the disruptions in supply chains due to lockdowns have created a strain on the supplies of chemicals and materials.
Europe has faced huge economic losses due to covid-19 outbreak.The impact would worsen depending upon the spread of the virus.
Italy, Spain, Russia, France, and the UK have been badly hit by the pandemic. Europe is likely face severe losses in revenue from various industries. Other European Union member states have closed their borders and adopted different drastic measures, including travel restrictions, which, in turn, is anticipated to restrain in the market growth in this region in the coming financial quarters.
The overall size of the Europe chitosan market has been derived in accordance with both primary and secondary source.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic. The participants who typically take part in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europechitosan market.
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