Chitosan Market Growth Analysis by Key Players : Biopolymers AS (Norway), Heppe Medical Chitosan GmbH (Germany), G.T.C. Bio Corporation (China), Primex ehf (Iceland), Kitozyme S.A. (Belgium), Novamatrix (Norway)

Global chitosan market size is expected to reach $2,550 million by 2022 from $1,205 million in 2015, registering a CAGR of 10.7% from 2016 to 2022. Chitosan is the deacetylated form of chitin, a biopolymer extracted from the shells of crustaceans such as shrimp, crabs, and others. According to the Food and Agriculture Organization (FAOSTAT), around 750,000 tons of crustaceans’ shell waste is generated annually in Europe. In the processing of crustaceans, around 40% of the total mass is the shell whereas rest is consumed. This shell waste is characterized with high amount of chitin that is further processed to produce chitosan, glucosamine, and other derivatives. On an average, a waste crustacean shell comprises of 30-40% protein, 30-50% calcium carbonate, and approximately 30% of chitin. The shell waste containing chitin is treated with specific alkalis and acids under optimal reaction conditions. After undergoing successive demineralization and deproteinization, chitin is obtained that is further deacetylated to produce chitosan. Apart from crustacean shell waste, chitosan can also be produced from certain fungi. However, low amount of chitin in the cell walls of fungi and the absence of an optimal procedure for extraction of chitin on a commercial scale makes it a less used source for obtaining chitosan.

The key market players profiled in this report are Advanced Biopolymers AS (Norway), Heppe Medical Chitosan GmbH (Germany), G.T.C. Bio Corporation (China), Primex ehf (Iceland), Kitozyme S.A. (Belgium), Novamatrix (Norway), Agratech International, Inc. (U.S.), Golden-Shell Pharmaceutical Co. Ltd. (China), Qingdao Yunzhou Biochemistry Co. Ltd. (China), and Panvo Organics Pvt Ltd. (India).

Other players in the value chain includes BioPhrame Technologies, Biothera, Dainichiseika Color & Chemicals Mfg. Co. Ltd, United Chitotechnologies Inc., Koyo World (Hong Kong) Co. Ltd., Kraeber & Co. GmbH, Foodchem International Corporation, FMC Corporation, Xianju Tengwang Chitosan Factory, and PT Biotech Surindo.

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The global chitosan market report focuses on chitosan and its major applications including, water treatment, food & beverage, cosmetics, biomedical & pharmaceuticals, bioprinting & agriculture, and others. Furthermore, the report includes market segmentation based on sources of chitosan such as shrimp, crab, krill, and squid. The report does not put much emphasis on the chitosan that can be produced from the chitin present in the fungus cells. It presents chitosan market size in terms of both value and volume. The data has been gathered majorly from the secondary sources such as company publications, Hoovers, Factiva, and others. The data has been validated after analysis from the C-level executives and directors of the companies present in the global chitosan market.

The major factors driving the chitosan industry are the abundant raw material availability and emerging applications from various end use segments. The ongoing R&D activities focused on finding novel applications of chitosan as well as developing the existing technology is also expected to contribute towards the growth of chitosan market during the analysis period. However, the high production cost of chitosan and its derivatives and product inconsistency due to seasonal, regional, and chemical modification could hamper the market growth.

The report includes market segmentation on the basis of source, application, and geography. The major sources of chitosan includes shell wastes from shrimp, crab, squid, and krill. Shrimp is globally used as the primary source for chitosan production, followed by crab. Based on application, the chitosan market is segmented into water treatment, biomedical & pharmaceuticals, cosmetics, food & beverage, and others. Other applications of chitosan include its use in the formulation of paints and coatings and organ bio-printing. Water treatment leads the chitosan market, followed by biomedical & pharmaceuticals. The biomedical applications of chitosan have proliferated as a result of extensive research activities.

Key Benefits

• The report provides an extensive analysis of the factors that drive and restrain the global chitosan industry.
• The market projections from 2014 to 2022 are included along with the impacting factors.
• The report also provides quantitative as well as qualitative trends to assist the stakeholders understand the market scenario.
• In-depth analysis demonstrates the consumption of chitosan and its related products in different applications across different end-user industries.
• Competitive intelligence highlights the business practices adopted by the leading market players across various geographies.

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