Global Chitosan Market Analysis, 2013-2023
Chitosan is a deacetylated form of chitin, which is a significant element in the endoskeleton of marine animals. Chitosan is commercially produced from the shells of marine animals such as squid, krill, shrimp, and crabs. It is used mainly by food industries, beverages, agriculture, cosmetics, etc. However, the primary use of the element can be found in water treatment, biomedical and pharmaceuticals industries. The product is widely used depending on the purity of the product. However, the essential property of the element to remove impurities from water has made it useful. The element removes impurities of all kinds, including oils, heavy minerals and phosphorous.
The report on global chitosan market presents the crux of over 290 hours of synergized efforts of analysts, industry experts, and academician to assess the present market scenario. The findings are substantiated by a thorough analysis of the chitosan industry value chain coupled with exhaustive secondary and primary research.
As per report, the global chitosan market was valued at US $ XXX million in 2017. The rate of growth in this market is XXX % on an annual basis since 2014, when it stood at US $ XXX million. The global chitosan market is expected to be worth US $ XXX million by 2021, translating to a growth rate of XXX % every year.
The primary drivers for the growth of this market are the potential uses of chitosan nanoparticles. The use of environment-friendly and biomaterials is gaining importance in the field of industrial and scientific research. Since Chitosan properties are versatile in nature, these nanoparticles find use in pharmaceuticals, biomedicines, foods, and beverages. Chitosan is rich in antimicrobial and antibacterial properties, which is why it is used as a coating for various foods and cosmetics.
Furthermore, to name a primary factor that is hindering the market of the elements is its limited use. Although Chitosan is rich in many properties, it has low stability above pH 6.5. Chitosan and its derivatives are insoluble in diluted acids, aqueous solutions, and other common organic solvents. Furthermore, they are poorly soluble in water. All of these reasons hinder the market growth of Chitosan.
The Asia-Pacific region is expected to continue leading the market. Apart from this North America and Europe are the other significant markets for Chitosan. Asia's demand for freshwater due to the release of wastewater by various industries and changing food habits due to obesity has given way to increased use of chitosan in these regions. Other than this, the dire need of clean drinking water in Asian countries has given rise to an increased demand of Chitosan.
Advanced Biopolymers AS, Biophrame Technologies, Yunzhou Biochemistry Co., Koyo World (Hong Kong) Co. Ltd., Kraeber & Co. GmbH, United Chitotechnologies Inc., Dainichiseika Color & Chemicals Mfg. Co. Ltd., FMC Corporation, Agratech LLC., and Foodchem International Corporation are some of the key companies analysed during the market study.
At Market Krystal, we believe in a systematic approach towards the problem at hand. The process begins with the identification of a challenge/opportunity, followed by an exhaustive brainstorming by in-house and consulting experts. Based on the outcomes, an in-depth research (primary & secondary) is carried out to collect industry insights. The data is then analysed by a gamut of techniques (Statistics, Machine Learning, Econometrics, and Analytics) to derive inter-disciplinary deductions that are executable and result in value creation.
Hence, the global chitosan market is segmented based on source, application and geography. Chitosan derived from different sources such as shrimp, crab, squid, and krill were mapped with different applications such as water treatment, food, cometics, and pharmaceutical among others across the globe and the findings were analysed in the report.
Market Krystal ensured a holistic approach by involving experts from diverse functionalities and locations. This allowed a 3600 view of the industry dynamic.