Press release
Chitosan Market – Segmented by Grade, Application, and Geography (2018 to 2023)
Increasing demand for chitosan in the food and beverage industry as a natural flavor extender and reduce cholesterol is one of the major drivers of chitosan market. Burgeoning population and rising urbanization along with declining freshwater resources are augmenting the need for water and wastewater treatment which, in turn, is escalating the demand for chitosan as a viable alternative to chemical water treatments. High availability of raw material is also supporting the growth of chitosan market globally. Rising production of chitosan from non-aquatic sources will further continue to propel the growth of chitosan market during the forecast period. However, strict regulatory compliance related to shrimp farming is hindering the growth of chitosan market.
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Cosmetics segment holds significant market share
By application, Chitosan market is segmented into cosmetics, food and beverage, pharmaceutical, agrochemicals, water treatment, others. Cosmetics segment accounted for a significant market share owing to the growing popularity of chitosan across this industry as it is compatible with a range of ingredients such as fats, oils, and water-soluble gums. The emerging trend of vegan cosmetics is significantly driving the demand for chitosan for various applications in cosmetics as it is derived from fungi, thus, making it organically suitable and certifiable for vegan and vegetarian applications.
North America holds a major market share
Geographically, Chitosan market is segmented into North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America accounted for the major market share in 2017 owing to the presence of major market players in the region and rising investments in R&D to develop innovative applications of chitosan across various end-use industries. For example, in August 2018, Canadian food tech startup Chinova Bioworks raised a $2 million seed round from AgFunder, DSM Venturing. The company discovered a natural preservative for food and beverages using chitosan from mushrooms that can also be customized for individual food and beverage companies.
This report also includes a study of strategies and product portfolios of some of the leading companies in the Chitosan market. It consists of company profiles of the leading companies- Advanced Biopolymers AS, PRIMEX EHF, Agratech, BIO21, KOYO CHEMICAL CO., Ltd, Heppe Medical Chitosan GmbH, Kitozyme, LLC, Chitocean, Tidal Vision Products LLC, and Mycodev Group.
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.
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