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Chitosan Market Report Size, Growth And Forecast Report 2024 To 2033
Chitosan Market
Chitosan Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $18.61 billion In 2028 At A CAGR Of 20.9% :
The chitosan market size has grown exponentially in recent years. It will grow from $7.24 billion in 2023 to $8.7 billion in 2024 at a compound annual growth rate (CAGR) of 20.2%. The growth in the historic period can be attributed to seafood processing waste, biomedical applications, increased use in agricultural sector, food and beverage industry, paper and pulp industry, metal ion chelation.
The chitosan market size is expected to see exponential growth in the next few years. It will grow to $18.61 billion in 2028 at a compound annual growth rate (CAGR) of 20.9%. The growth in the forecast period can be attributed to bioplastics development, nutraceuticals and dietary supplements, environmental concerns, agricultural biostimulants, functional food ingredients, regulatory support. Major trends in the forecast period include water filtration technologies, chitosan derivatives and modifications, chitosan nanoparticles in drug delivery, chitosan in biomedical scaffolds, chitosan in tissue engineering.
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Chitosan Market Major Segments
The chitosan market covered in this report is segmented -
1) By Grade: Pharmaceutical Grade, Industrial Grade, Food Grade
2) By Source: Shrimp, Squid, Crab, Krill, Other Sources
3) By Application: Water Treatment, Food and Beverages, Cosmetics, Medical and Pharmaceuticals, Agrochemicals, Other Applications
Key Driver - Global Surge In Wastewater Treatment Needs Fuels Expansion Of The Chitosan Market
The increase in requirements for wastewater treatment across the globe is expected to propel the growth of the chitosan market. Wastewater treatment has been defined as the process of removing impurities from wastewater before it reaches natural bodies or aquifers such as oceans, lakes, and rivers. Chitosan is widely used for wastewater treatment as it helps in heavy metal or metalloid adsorption, the removal of dyes from industrial wastewater, and the removal of other organic pollutants such as organic oxidants, oil impurities, and organochloride pesticides. For instance, in 2021, according to a study conducted by the Utrecht University, a Netherlands-based public research university, and the United Nations University, a Japan-based research and study university, the wastewater produced globally each year stands at 359 billion cubic meters, of which approximately 48 percent of that water is released untreated into the environment. Therefore, the growth in requirements for wastewater treatment across the globe is driving the chitosan market growth.
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Prominent Trend - Kiomed Pharma Kiomedinevsone Sets A New Standard In Chitosan-Based Therapeutics For Knee Osteoarthritis
Major companies operating in the chitosan market are focused on introducing advanced solutions, such as chitosan injection, to gain a competitive edge in the market. Chitosan injection is a type of medication delivery system that uses chitosan, a naturally occurring polymer, as its main component. For instance, in September 2023, KiOmed Pharma, a Belgium-based biotechnology company, launched KiOmedinevsOne. KiOmedinevsOne is a non-animal-sourced chitosan injection and a single-shot intraarticular injection designed for the symptomatic treatment of knee osteoarthritis. It has a unique structure that differs from hyaluronic acid and natural chitosan. It reduces knee pain for more than six months. It is a patented technology with a response rate of up to 76%.
Chitosan Market Players
Major companies operating in the chitosan market report are Advanced Biopolymers AS, FMC Corporation, Kyowa Hakko Bio Co. Ltd., Dainichiseika Color & Chemicals Mfg. Co. Ltd., IFF NovaMatrix, Marshall Marine Products, Protandim, Golden-Shell Pharmaceutical Co. Ltd., KIMICA Corporation, Xianju Tengwang Chitosan Factory, Marine Biopolymer Technologies Inc. (MBT), Bio-Gate AG, Axio Biosolutions, Heppe Medical Chitosan GmbH, Amano Enzyme Inc., Panvo Organics Pvt Ltd, Agratech International Inc., Qingdao Yunzhou Biochemistry Co. Ltd., Meron Biopolymers, NovaTech Nutrition, G.T.C. Bio Corporation, Kitozyme S.A., Kraeber & Co. GmbH, Qingdao BZG Bio-Tech Co. Ltd., PT Biotech Surindo, Biophrame Technologies, Primex BioProducts, Chitofrance, Yishan Marine Biological Products Co. Ltd., Qingdao Haihui Marine Bioengineering Co. Ltd.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the chitosan market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the chitosan market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Chitosan Market Report Structure
3. Chitosan Market Trends And Strategies
4. Chitosan Market - Macro Economic Scenario
5. Chitosan Market Size And Growth
…..
27. Chitosan Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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