Chitosan Market | KitoZyme S.A., GTC Bio Corporation, Panvo Organics Pvt., Ltd., and Xianju Tengwang Chitosan Factory
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The vendors and producers are anticipated to gain high profits by imposing high margins as the pure form of the product is not available easily in the market. Japan has been a dominant region among all others, owing to early acceptance of the product for the usage of water treatment. There are certain manufacturers that have insufficient high quality product in terms of volume, which is likely to pull the down the market growth. Over the past few years there has been a noticeable surge in the demand for waste water treatment in the sectors such as paper & pulp, textile, and metal cutting, which as a result have stirred the global chitosan market.
Global Chitosan Market: Overview
Chitosan is a sugar that is extracted from the hard outer skeleton of shellfish such as crab, lobster, and shrimp. It finds application as a medicine to cure obesity, high cholesterol, and Crohn’s disease. Chitosan also helps to cure complications resulting from dialysis in kidney failure patients. Those complications include high cholesterol, anemia, insomnia, etc. Some people apply chitosan directly to their gums to treat inflammation that can cause loss in tooth and some chew gum containing chitosan to thwart cavities.
Global Chitosan Market: Key Trends
One factor majorly boosting the global chitosan market is the acute shortage of fresh water on account of a burgeoning urban population and rapid pace of industrialization. This has led to substantial investments by governments and private players in water treatment worldwide, particularly in high and middle income countries. Chitosan flocculant, a unique composite, is used in water treatment. It is way more effective and costs less than conventional flocculant in water treatment.
Besides, the booming personal care industry is also propelling the global market for chitosan. This is because chitosan is used in formulation of hair care, skin care, and dental care products. Chitosan has excellent skin moisturizing properties that deters dehydration. Although the global cosmetics industry is expanding at a moderate pace, the growth of the segment containing organic ingredients is slated to have a positive impact on the global chitosan market.
Countering the growth in the market is the high cost of manufacturing chitosan from raw materials. This has been on account of little progress in the manufacturing technique.
Global Chitosan Market: Market Potential
The global chitosan market is poised for good growth and holds out a strong promise on account of the easy availability of raw materials and emerging applications in different end use segments. The ongoing research and development activities focused on uncovering unique applications of chitosan as well as development of the existing technology is also predicted to promote the market.
Chitosan finds application in cosmetics, water treatment, pharmaceutical and biomedical, and food and beverage, among others. Among them, the water treatment section is slated to outpace all other segments in terms of growth owing to its strong demand for removal of metals and chemicals from wastewater, including pesticides, surfactants, phenol and polychlorinated biphenyls.
However, the cost of treating environmentally-hazardous waste resulting from the manufacturing process is high. Further, since animal feed manufacturers source the same raw materials, manufacturers of chitosan need to compete with them as well.
Global Chitosan Market: Regional Outlook
From a geographical standpoint, Asia Pacific will likely outpace all other regions in terms of growth. Powered by Japan, which manufactures maximum chitosan, Asia Pacific leads. Indian and China are other key markets in the region. North America is another crucial market with its large cosmetics segment driving demand.
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Global Chitosan Market: Competitive Analysis
Stiff competition characterizes the global chitosan market, particularly in Asia Pacific. Further, the industry is price sensitive. Some of the key players in the market are KitoZyme S.A., GTC Bio Corporation, Panvo Organics Pvt., Ltd., and Xianju Tengwang Chitosan Factory.
The industry is integrated with manufacturers producing both chitosan and the end products. However, certain pharmaceutical companies, food supplement makers, cosmetics and biomedical product makers, cosmetic manufacturing companies, and natural diet supplement manufacturing companies buy chitosan from manufacturers to produce end products.
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