Chitosan Market Overview, Key Players, Segmentation Analysis, Development Status And Forecast By 2028

Precision Business Insights published a research report on "Chitosan Market: By Source (Crab, Krill, Shrimp and Squid), By Application (Cosmetics, Food & beverage, Pharmaceutical & biomedical, Water Treatment and Others) - Global/Region/Country Forecast to 2028"

Chitosan is a polymer of the amino polysaccharide class derived from lobster, crab, shrimp, and crayfish shells. It's created by deacetylating the chitin shells or exoskeletons of insects, crustaceans, and hence the cell walls of fungus using an alkaline substance like caustic soda, either chemically or enzymatically. Chitosan content varies by item staple, making it an important factor in commercial manufacture. Shrimp is thought to be the most important source of chitosan.

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The market is expected to rise due to rising product demand from the cosmetics sector and the expanding breadth of product application in waste-water treatment. Furthermore, the government of Mexico has eliminated restrictive rules that limited the installation of new production units, leading to the development of new and large-scale pharmaceutical manufacturing facilities in the region. This strategy has been crucial in propelling the growth of the local pharmaceutical business, which is expected to stimulate product demand in the coming years. High product costs, which vary based on grade and purity, are projected to stifle market expansion. The simple availability of chitosan's basic material, derived as a waste product from the fishing industry, is one of the primary factors driving demand. For people in Asia Pacific, fishing is one of the most essential businesses. China has emerged as one of the leading participants in the worldwide shrimp industry, according to the United Nations' Food and Agriculture Organization. Various government initiatives targeted at improving the quality of surface, ground, and drinking water, as well as increased research and development (R&D) to generate chitosan from non-aquatic sources, are also contributing to market expansion.

The Global Chitosan Market is fragmented on the basis of Source, which is further divided into Shrimps, Prawns, Crabs. On the basis of Application, the market is segregated into Water Treatment, Cosmetics, Pharmaceutical and Biomedical, Food and Beverage, Other Applications.

Asia Pacific overtook Europe as the largest geographic market. Due to the rapid development of end-use industries in Japan, China, India, and South Korea, it is also predicted to be the fastest-growing area. The regional market for chitosan is likely to be driven by rising demand for biobased goods along with favourable government policies in these areas. Products like chitooligosaccharides and glucosamine, for example, are considered to be safe for use in dietary supplements by the Korea Food and Drug Administration. Similarly, in Japan, it is listed on The Japan Food Chemical Research Foundation's list of food additives.

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There are several industry players working in the Chitosan Market, which include Advanced Biopolymers AS (Norway) Agratech (US) BIO21 Co.Ltd. (Thailand) T.C. Bio Corporation (China) Heppe Medical Chitosan GmbH (Germany) KitoZyme S.A. (Belgium) Primex ehf (Iceland) Taizhou City Fengrun Biochemical Co.Ltd. (China) Vietnam Food (Vietnam) Zhejiang Golden-Shell Pharmaceutical Co.Ltd. (China)

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