Global Chitosan Market Insights Forecasts to 2030

• The global Chitosan Market was valued at USD 2.6 Billion in 2021.
• The Market is growing at a CAGR of 15.0% from 2021 to 2030
• The global Chitosan Market is expected to reach USD 8.45 Billion by 2030
• North America is expected to grow the fastest during the forecast period.

The global Chitosan Market is expected to reach USD 8.45 Billion by 2030, at a CAGR of 15.0% during the forecast period 2021 to 2030. One of the key drivers of Chitosan market expansion is the rising demand from a variety of end-use sectors, including the food and beverage industry, the pharmaceutical industry, wastewater treatment process, etc. Additionally, the growing number of product applications in developing regions will significantly influence the global market share for chitosan powders.

Market Overview

The chitin shells of shrimp and other crustaceans are treated with an alkaline substance, such as sodium hydroxide, to produce chitosan, a linear polysaccharide. Chitosan has a number of possible uses in both industry and medicine. Chitosan has use in the food and beverage industry as well as in the pharmaceutical and nutraceutical, personal care, and agricultural industries. Chitosan aids in the defence of plants against fungus when applied to seeds or used as a bio pesticide. Chitosan is utilised in the beverage sector as an antibacterial and fining agent, particularly in winemaking. The market will develop as a result of the rising demand for chitosan in end user industries, particularly in the food and beverage and wastewater treatment sectors. Using chitin or chitosan to treat wastewater is a significant application. for the removal of dyes, as well as other organic pollutants including organochlorine pesticides, organic oxidised or fatty impurities, and oil impurities, from industrial effluent (for example, textile wastewaters). Hydrophobicity, biocompatibility, biodegradability, non-toxicity, and the presence of highly reactive amino (-NH2) and hydroxyl (-OH) groups in its backbone are only a few of the enticing qualities of chitosan, which make it useful for the treatment of wastewater. The COVID-19 pandemic is driving the growth of the chitosan market since numerous studies have suggested that chitosan might be used as a COVID-19 medicine delivery agent. This is because of its structure, which has free hydroxyl and amine groups that can quickly form hydrogen bonds with other molecules. Governments have allowed the healthcare sector to operate throughout the stringent lockdowns and other rules in order to give COVID-19 treatment, which is contributing to the market's expansion. In the past, the APAC region controlled the world market for chitosan. Additionally, the market is anticipated to increase at the quickest rate during the projection period. This can be attributed to chitosan's chelating ability, which makes it perfect for the treatment of industrial effluents that are high in heavy metals. In this regard, the substantial expenditures being made in water treatment by public and private institutions in China, Malaysia, and India will spur market expansion. These factors have all contributed to a rising in the worldwide Chitosan market year-over-year growth rate.

Report Coverage

This research report categorizes the Market for global Chitosan based on various segments and regions, forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Chitosan Market. Recent Market developments and competitive strategies such as expansion, Product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the Market. The report strategically identifies and profiles the key Market players and analyses their core competencies in each global Chitosan Market sub-segments. 

Segmentation Analysis

• In 2021, the Shrimps segment dominated the Market with the largest Market share of 20.1% and Market revenue of 0.52 Billion.

Based on the Source, the global Chitosan Market is categorized into Shrimps, Prawns, Crabs, Lobsters, Fungi and Others. In 2021, the Shrimps segment dominated the Market with the largest Market share of 20.1% and Market revenue of 0.52 Billion. The Shrimps segment is anticipated to be the leading category during the forecast period. Compared to other segments, shrimps are in high demand in the market. Chitosan is an antibacterial, biocompatible, and environmentally friendly polyelectrolyte biomaterial from shrimp shells. It has various uses, including chromatography, water treatment, cosmetic additives, and antimicrobial treatment of textiles. Additionally, chitosan derived from shrimp is utilised to create innovative fibres for textiles, biodegradable films, photographic papers, and biomedical devices, as well as microcapsule implants for the controlled release of pharmaceuticals.

• In 2021, the Food & Beverage segment accounted for the largest share of the Market, with 23.8% and a Market revenue of 0.61 Billion.

Based on the Application, the Chitosan Market is categorized into Water Treatment, Cosmetics & Toiletries, Food & Beverage, Healthcare/Medical, Agrochemical, Biotechnology and Others. In 2021, the Food & Beverage segment accounted for the largest share of the Market, with 23.8% and a Market revenue of 0.61 Billion. Throughout the forecast period, the Food & Beverage segment is anticipated to maintain its leading position while expanding at the fastest CAGR. According to the Chitosan market forecast, the Food & Beverage sector will likely experience rapid growth in the years to come. Chitosan's capacity to form films makes it useful for immobilising enzymes and creating biodegradable films and coatings. Due to its antibacterial properties, the substance is frequently employed as a food preservative and shelf-life extender. Due to its effects on hypocholesterolaemia, the product is now extensively used as a dietary supplement for weight loss. Rising youth health concerns have sparked demand for dietary supplements, particularly in the U.S. and European nations. This need will increase product demand and probably contribute to the overall size of the chitosan market throughout the projected period.

Regional Segment Analysis of the Chitosan Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia-Pacific emerged as the largest Market for the global Chitosan Market, with a Market share of around 43.0% and 1.18 Billion of the Market revenue in 2021.

• Asia-Pacific emerged as the largest Market for the global Chitosan Market, with a Market share of around 43.0% and 1.18 Billion of the Market revenue in 2021. The rising acceptance by the market is driving the demand for Chitosan. The market for chitosan was dominated by the Asia Pacific region. One of the main reasons influencing chitosan demand is the simplicity with which its raw material, collected as a waste product from the fishing industry, is made available. One of the most significant industries in Asia and the Pacific is fishing. The Asia-Pacific has long controlled the shrimp market.
•  North America Market is expected to grow at the fastest CAGR between 2021 and 2030, owing to the increasing encouragement and benefits for foreign businesses to enter the region. Market expansion is anticipated to be driven by a significant presence in the North American pharmaceutical sector. Chitosan is a material used in the pharmaceutical business to make pharmaceutical pharmaceuticals, specifically as a filler and carrier in controlled-release medications. It is also applied as a coating to pharmaceutical items to disguise the unpleasant medicinal taste.

Competitive Landscape

The report offers the appropriate analysis of the key organizations/companies involved within the global Chitosan Market along with a comparative evaluation primarily based on their Product offering, business overviews, geographic presence, enterprise strategies, segment Market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including Product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the Market.

List of Key Market Players:

• Primex EHF
• Heppe Medical Chitosan GmbH
• Vietnam Food
• KitoZyme S.A.
• Agratech
• Advanced Biopolymers AS (Norway)
• BIO21 Co., Ltd.
• G.T.C. Bio Corporation
• Taizhou City Fengrun Biochemical Co., Ltd.
• Zhejiang Golden-Shell Pharmaceutical Co., Ltd.
• Biophrame Technologies
• Heppe Medical Chitosan GmbH
• Meron Biopolymer
• Qingdao Yunzhou Biochemistry Co.
• Golden-Shell Pharmaceutical Co. Ltd
• FMC Corp.

Key Target Audience

• Market Players
• Investors
• Applications
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Third-party knowledge providers
• Value-Added Resellers (VARs)

Some of the Key Developments:

• In March 2020, An organisation researching chitosan nanoparticles, Bioavanta Ltd., introduced Novochizol. This chitosan nanoparticle technology can transport and confine any prospective anti-COVID-19 medication to the lungs of critically ill patients.
• In April 2020, MaxioCel, a chitosan-based, next-generation wound dressing, was introduced by Axio Biosolutions Private Limited. Patients with pressure ulcers, diabetic foot ulcers, venous leg ulcers, cavity wounds, skin abrasions, donor site wounds, and post-surgical wounds benefit greatly from this dressing's high level of comfort and quick healing.

Market Segment

This study forecasts global, regional, and country revenue from 2021 to 2030. Spherical Insights has segmented the global Chitosan Market based on the below-mentioned segments:

Global Chitosan Market, By Source

• Shrimps
• Prawns
• Crabs
• Lobsters
• Fungi
• Others

Global Chitosan Market, By Application

• Water Treatment
• Cosmetics & Toiletries
• Food & Beverage
• Healthcare/Medical
• Agrochemical
• Biotechnology
• Others

Global Chitosan Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico

• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa