Chitosan Market (By Application: Water Treatment, Food & Beverage, Cosmetics, Pharmaceutical & Biomedical, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

The global chitosan market is expected to grow at noteworthy CAGR around 20.2 % throughout the forecast period and reach around US$ 22 billion by 2026.

Chitosan is the form of the deacetylated chitin, a main component in the marine animal exoskeleton. The shell wastes, such as squids, shrimp, krill, and crab, are commercially generated from the marine shell. Chitosan is used in a wide range of end-user sectors, including food, chemical, agriculture, cosmetics, pharmaceutical and other sectors. However, water treatment, biomedical and pharmaceutical products, cosmetics, food & beverages are all key end uses. In Europe approximately 750,000 tonnes of shell waste is produced annually according to the Food and Agriculture Organisation (FAOSTAT). Around 40% of the complete mass is absorbed during crustacean processing, while remainder is eaten. Shaken by elevated amounts of chitin which is subsequently transformed into chitosan, glucosamine and other derivatives. An average shell of waste crustaceans consists of 30-40% protein, 30%-50% calcium carbonate and around 30% chitin. Chitine-containing shell waste is processed under ideal reactions with special alkalis and acids. Chitine which is further deacetylated to generate chitosan is acquired after continuous demineralization and deproteinisation. Chitosan can be generated from certain fungi in addition to crustacean shell waste. However, it is less common to obtain chitosan due to the fact that the cellular walls of the fungi have little chitin and the lack of an excellent method for the commercial extraction of chitin.

The report provides analysis of global Chitosan market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.

Market Dynamics

One of the main drivers of the industry is the rising demand for waste water treatment products to remove impurities such as heavy minerals, petroleum and phosphorus.

In North America, strict regulations encourage producers of plastics to use bio-based products. Moreover, the numerous end-use companies that will drive the market in the region are increasingly using chitosan polymers. In Canada, the pharmaceutical sector is one of the most profitable sectors, as local pharmaceutical projects stimulated the demand for the product.

An growing demand for products from the cosmetics sector is also expected to increase development on the market and the growing application range for products for waste water therapy. In addition, removing strict laws restricting the establishment by the Government of Mexico of fresh manufacturing units led to the growth of large-scale, new pharmaceutical installations in the region.

This approach has been instrumental in driving national pharmaceutical sector development, which is likely to boost demand for products in the coming years. However, elevated product expenses are anticipated to hinder market development depending on quality and purity.

Application Outlook

Pharmaceutical was the biggest segment for 2018 and the dominance over the prediction years is planned to continue. Also, due to the elevated demand of products in industrial, municipal and commercial wastewater, the water supply segment is probable to have powerful development. In addition, increasing applications of the product in water therapy, such as flocculant, coagulating and chelating agents will have a beneficial effect on segment development. An increasing demand is anticipated to foster market growth over the predicted era for naturally derived products combined with antifungal and antimicrobial property of the product.

Due to the increase in product consumption as food additive and food supplement, the request for food and beverages is expected to be the fastest CAGR from 2019 to 2026. The product is also used for the niche industry in a variety of other industries, including agrochemicals, photography, textile finishing and pulp & paper. More demand is also predisposed to fuel the product demand for bio-based cosmetics and increased public expenditures in water purification techniques and demand for natural, unsoxic water treatment chemicals.

Wastewater Treatment Applications Driving Demand

Some of the main drivers of demand in the worldwide chitosan industry include unique and helpful characteristics of chitosan, the abundance of raw products and an increased understanding of its health advantages. On the other side, strict rules on shrimp cultivation, severe disadvantages of drug delivery systems and instability are obstructing the growth of the chitosan market in other apps. The report analyst expected the manufacturing of non-aquatic chitosan as an opportunity to increase the market's turnover.

Regional Stance

Due to the existence of a big amount of producers in Japan and the simple accessibility of raw materials, Asia Pacific is expected to grow by 20.08 percent during the forecast period at CAGR. Furthermore, in nations like India, China and Thailand it is anticipated that increased implementation of products will drive regional development in several end-use sectors and fast industrialisation.

Increasing drinking water requirements and reduced fresh water resources are anticipated to provide market development possibilities. A major factor driving demand is anticipated to be the increased demand for naturally derived water treatment chemicals.
Rapid growth in developing markets such as China, Korea, and India for the cosmetics, pharmaceutical, and food & beverage sectors is anticipated to have a beneficial effect on market development. Chitosan is also approved as a natural food additive and consumer knowledge of the product advantages drives the market. In France, Germany and Italy, the European economic crisis has led to sluggish development of the pharmaceutical industry, which is supposed to influence the pharmaceutical chitosan market. But growing R&D spending will increase the growth of the industry. Growth in R&D spending is however expected to increase market growth. In addition, the growing popularity of natural cosmetics in the region is anticipated to further boost product demand.

Market Segmentation

Global Chitosan Market, By Application

• Water Treatment
• Food & Beverage
• Cosmetics
• Pharmaceutical & Biomedical
• Others

Global Chitosan Market, By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa (MEA)

The market research study on “Chitosan Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Chitosan market segments with market dynamics and their impact. The report also covers basic technology development policies.

This study offers an assessment of the recent trends in sector in every sub segment from 2014 to 2026 and forecasts revenues and increase in volume on a worldwide, regional and national level. For this research, ARC has divided the worldwide report on mobile air compressors by technology, lubrication, implementation and area.

Key Players & Strategies

FMC Corp., Qingdao Yunzhou Biochemistry Co., Golden Shell Pharmaceutical Co., Heppe Medical Chitosan GmbH Ltd., are some of the major businesses on the market. Major enterprises are faced with comparatively less national competition. However, over the forecast period, fast development of the Japanese and Chinese markets will hinder their development. In addition, the growing amount of market entrants is likely to intensify competitiveness over the forecast period, owing to an simple manufacturing method and increased product demand.

Manufacturers are more focused on lowering product costs while increasing output and quality to maintain and reinforce their industrial presence. Initiatives to develop the fishing sector in multiple nations like India are anticipated to increase the accessibility of raw materials. Current study by governments and private organisations in these areas should also promote the entry of fresh enterprises on the market and thus intensify competition between industries.