Press release
Chitosan Market Impressive CAGR of 17.70% During the forecast period of 2014 to 2020
Furthermore, the government has taken key initiatives to ensure the availability of potable water to all the masses, and this has also enunciated the growth prospects of the global chitosan market. It is also expected that the use of chitosan in several biomedical applications would create lucrative opportunities within the global market for chitosan in the years to come. The global chitosan market has witnessed the inflow of key investments from several venture captilaists and angel investors, majorly on account of the lucrative opportunities that float in this market. Besides all of this, the global market for chitosan is projected to expand as end-use industries for the product develop.
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A report on the global market for chitosan by Transparency Market Research (TMR) predicts that the total revenues accumulated by this market would reach a value of US$4.20 bn by the end of 2020. Furthermore, the global chitosan market is projected to expand at a stellar CAGR of 17.70% over the period from 2014 to 2020.
Water Treatment to remain the most Popular Application
On the basis of application, the global market for chitosan can be segmented into cosmetics, water treatment, industrial, biomedicine and pharmaceuticals, food and beverages, agrochemical, and industrial. Amongst these, the demand for chitosan for waste water treatment has been rising at an astral rate due to the pressing demand for drinkable water across all regional pockets. Furthermore, the stipulation of regulations with regards to water treatment has also enhanced the growth prospects of the global market for chitosan. Besides this, chitosan is also used extensively in the biomedicine and pharmaceuticals industry as a key ingredient for the synthesis of drugs, experiment materials, and other key substances. In recent times, the food and beverages industry has also commenced with the usage of chitosan for a variety of applications.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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