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Global Chitosan Market is expected to reach US$4.20 billion by 2020

Global Chitosan Market is expected to reach US$4.20 billion

A recent business intelligence study on chitosan market by Transparency Market Research (TMR) has notified that owing to the easy availability of raw materials and expanding application scope will ensure a prosperous future. The analyst has foreseen removal of pollutants across industries and municipal wastewater management facilities to open vast new opportunities in the near future. As per the projections of the TMR report, the global chitosan market will be worth US$4.20 billion by the end of 2020, with the demand growing at an impressive CAGR of 17.70% during the forecast period of 2014 to 2020.

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Abundance of Raw Materials Inviting New Players

Chitosan, being a natural biopolymer that is second most abundant polysaccharide in the World behind cellulose, which means it easy for new players to make a foray and consume substantial chunk of shares. However, the TMR report has identified and profiled a few prominent players of the chitosan market, including Xianju Tengwang Chitosan Factory, GTC Bio Corp., PT Biotech Surindo, Golden-Shell Pharmaceutical Co. Ltd., Biothera, Primex ehf, Panvo Organics Pvt. Ltd., Heppe Medical Chitosan GmbH, MC Health and Nutrition, and KitoZyme S.A. The value chain of the chitosan market includes a number of raw material suppliers, followed by manufacturers who process and supply the finished products to the end use industries.

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Since chitosan is procured from shrimp shell waste, which is a by-product from the fishery industry, patching up with those players is turning into a profitable strategy for the major players of the chitosan market. This integration ensures consistent supply of raw materials. For a long time, Japanese Companies have held the pole positions in the chitosan market but now, players from other Asian countries such as China are making a mark.

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Application-wise, the TMR report segments the chitosan market into agrochemical, cosmetics, food and beverages, industrial, biomedicine and pharmaceuticals, water treatment, and others such as fuel cells and photographic products. Among these, water treatment continues to be the leading application segment, leveraging the coagulation and flocculation properties as well as low cost of chitosan. Chitosan is capable of absorbing substantially big metal ions. Geographically, Asia Pacific is anticipated to remain the most lucrative region, dominated by leading chitosan producers - China and Japan.

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Contact

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About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

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