Press release
Chitosan Market Size Worth USD 4.35 Billion in 2032 | Key Companies - Heppe Medical Chitosan GmbH, Kitozyme, LLC, Primex ehf, Advanced Biopolymers AS, GTCbio
Chitosan Market
According to recent market research, the rising demand for chitosan is primarily attributed to several key factors:
1. Government Initiatives: Government organizations are spearheading innovative programs focused on wastewater treatment. Initiatives such as the National Pollutant Discharge Elimination System (NDPES) introduced by the National Institute of Health aim to safeguard water quality by regulating discharge into water bodies.
2. Medical and Pharmaceuticals Industries: The rapid growth of medical and pharmaceutical sectors is fueling the demand for chitosan. With applications ranging from obesity treatment to knee osteoarthritis therapies, chitosan is gaining traction for its efficacy in various medical treatments.
3. Product Development: Industry leaders are investing in the development of new chitosan-based products, particularly for knee treatments. Collaborations and partnerships, such as the one between Kiomed Pharma and Hansoh Pharmaceutical, are driving innovation in the market.
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Despite the promising growth prospects, the chitosan market faces challenges, including:
1. Regulatory Restrictions: Regulations against shrimp farming, a primary source of chitosan, pose a restraint to market growth. Measures such as The Coastal Aquaculture Amendment Act 2023 in India aim to address environmental concerns associated with shrimp aquaculture.
2. Compliance Requirements: Regulatory frameworks, such as the Hazard Analysis Critical Control Point (HACCP) implemented by the Food and Drug Administration (FDA) in the U.S., impose compliance obligations on processors to ensure food safety and environmental responsibility.
Segment Insights:
Chitosan Source:
• Shrimps Dominance: Shrimps remain the leading source of chitosan, accounting for the largest market share. The abundance of shrimp farming, particularly in countries like China and Thailand, contributes significantly to chitosan production.
• Steady Growth for Crabs: The crab segment is witnessing steady growth, driven by the biocompatibility of chitosan sourced from crabs, making it ideal for medical applications.
Chitosan Application:
• Water Treatment Dominance: The water treatment segment commands a significant share of the chitosan market, thanks to its properties that facilitate efficient removal of organic matter and suspended solids.
• Moderate Growth in Medical and Pharmaceuticals: The medical and pharmaceuticals segment is experiencing moderate growth, fueled by chitosan's eco-friendly nature and its potential in drug delivery systems and tissue engineering.
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Chitosan Top Companies and Competitive Landscape
The global chitosan market is fragmented, with several key players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new products and solutions in the market.
Some major players included in the global chitosan market report are:
• Heppe Medical Chitosan GmbH
• Kitozyme, LLC
• Primex ehf
• Advanced Biopolymers AS
• GTCbio
• BIO21 COMPANY LIMITED
• Golden-Shell Pharmaceutical
• Panvo Organics
• DuPont
• KIMICA Corporation
• Meron
• Biophrame Technologies
• chitotech
• Austanz Chitin Pty Ltd.
• KiOmed Pharma
Chitosan Latest Industry News
• On 5 January 2023, Nano medical a Czech Republic-based nanofiber launched 2 medical products under its brand name ChitoFib to protect wounds from contamination and promote and accelerate healing. The nanostructure combined with biopolymers supports cell proliferation and creates a natural structure for areal wound healing.
• On October 2022, Chitogen Inc., a U.S. based medical manufacturing company signed a statement of intent with Tru Shrimp to purchase commercial quantities of chitosan produced from the ground-up exoskeletons of farm-raised shrimp.
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Chitosan Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global chitosan market on the basis of source, grade, application, and region:
• Source Outlook (Revenue, USD Billion; 2019-2032)
o Shrimps
o Crabs
o Prawns
o Lobsters
o White Mushroom
o Others
• Grade Outlook (Revenue, USD Billion; 2019-2032)
o Pharmaceutical Grade
o Industrial Grade
o Food Grade
• Application Outlook (Revenue, USD Billion; 2019-2032)
o Food and Beverages
o Water Treatment
o Medical and Pharmaceuticals
o Cosmetics
o Agrochemicals
o Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa
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