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Global Chitosan Market || keyplayers Panvo Organics Pvt., Ltd., KitoZyme S.A., Xianju Tengwang Chitosan Factory

02-17-2021 12:40 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Prophecy Market Insights

Prophecy Market Insights

Prophecy Market Insights

Chitosan is a type naturally occurring polymer derived from chitin which is procured from hard outer shells of crab, crayfish, shrimp and squid. Chitosan has a wide industrial application namely in water treatment, food & beverages, medical and pharmaceuticals etc. and has unique biological properties such as biocompatibility, biogradeable, antimicrobial, mucoadhesion and anticholesterolemic. It is also used in medicines in order to cure diseases such as Crohn’s disease, obesity, and high cholesterol.

Increased availability of raw material for manufacturing of chitosan is the major factor that drives the growth of global chitosan market. Further, the severe shortage of the fresh water owing to the increasing urban population and the rapid rate of industrialization foster the growth of global chitosan market over the forecast period. Moreover, increasing demand for chitosan in fields such as cosmetics and pharmaceuticals industry due to their good skin moisturizing property and use in treatment of high cholesterol, Crohn’s disease, and obesity also enhances the growth of global chitosan market. In addition, chitosan is also used to treat inflammation that can lead to tooth loss which is expected to boost the growth of global chitosan market. The growth in global chitosan market is due to the rise in demand for the products used for treatment of contaminated water and removes pollutants such as heavy minerals, oils, and phosphorous which are responsible for the deterioration of the water quality. However, lack of purity of the product, high production cost and stringent regulations pertaining to shrimp farming are some of the factors which hamper the growth of global chitosan market. In addition, product inconsistency due to seasonal, regional, and chemical modification may restrain the growth of global chitosan market over a forecast period.

Global chitosan market has been segmented on the basis of source, application and region. On the basis of source, the global chitosan market is segmented into shell wastes from shrimp, crab, squid, and krill. On the basis of application, the global chitosan market is segmented into Water Treatment, Food & Beverages, Cosmetics, Medical & Pharmaceuticals and Others (Agrochemicals and Fabric).

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On the basis of region, the global chitosan market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Asia Pacific holds the maximum share in the growth of global chitosan market. This can be attributed to presence of major manufacturers in the region as well as developing pharmaceutical and food & beverage industries in countries such as China, India, and Japan. North America is expected to hold the significant share in the growth of global chitosan market over the forecast period owing to new advancements and ongoing research in the biotechnology field for manufacturing of medicine with natural ingredients.

Key players operating in the global chitosan market includes GTC Bio Corporation, Panvo Organics Pvt., Ltd., KitoZyme S.A., Xianju Tengwang Chitosan Factory, FMC Health and Nutrition, Golden-Shell Pharmaceutical Co., PT Biotech Surindo, Heppe Medical Chitosan GmbH., Qingdao Yunzhou Biochemistry Co. and Agratech International, Inc.

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Prophecy is a specialized market research, analytics, marketing and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business.

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