Press release
Worldwide Trends Overview: The Rapid Evolution of the Chitosan Market
Chitosan Market
Projected Growth and Size of the Chitosan Market by 2030
The value of the chitosan market is anticipated to reach $27.17 billion by 2030, growing at an impressive compound annual growth rate (CAGR) of 21.6%. This rapid expansion is fueled by a rising uptake of bio-based medical materials, greater investments in sustainable packaging, advancements in chitosan-based drug delivery systems, and broader applications in food preservation. Additionally, increased attention to circular bioeconomy principles is encouraging more widespread use of chitosan. Key trends shaping the market's future include expanding biomedical uses, adoption in water treatment technologies, growth in biodegradable packaging, higher demand in agrochemical products, and a sustained focus on natural, bio-based polymers.
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Leading Companies Driving the Chitosan Market Forward
Several influential players dominate the chitosan industry, including Advanced Biopolymers AS, FMC Corporation, Kyowa Hakko Bio Co. Ltd., Dainichiseika Color & Chemicals Mfg. Co. Ltd., IFF NovaMatrix, 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, Panvo Organics Pvt Ltd, Agratech International Inc., Qingdao Yunzhou Biochemistry Co. Ltd., Meron Biopolymers, 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., and Qingdao Haihui Marine Bioengineering Co. Ltd. These companies play pivotal roles in innovation, production capacities, and market expansion.
Innovative Partnerships Advancing Sustainable Chitosan Production
In August 2024, India's ICAR-Central Institute of Fisheries Technology teamed up with the biotechnology startup Ecogenie Biotech to develop eco-friendly methods for producing chitin and chitosan from silkworm pupae waste. This collaboration focuses on refining extraction techniques to make the process more sustainable, supporting India's circular economy efforts. Ecogenie Biotech specializes in chitosan development and aims to drive greener production technologies within the industry.
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Emerging Trends Reflecting Innovation in the Chitosan Sector
Companies in the chitosan market are increasingly introducing advanced solutions like chitosan injection to differentiate themselves and capture more market share. Chitosan injections represent a novel drug delivery system, utilizing chitosan as a natural polymer base. For example, in September 2023, Belgium's KiOmed Pharma launched KiOmedinevsOne, a non-animal-sourced chitosan injection for knee osteoarthritis treatment. This single-shot intraarticular injection features a unique molecular structure distinct from hyaluronic acid and natural chitosan, providing pain relief for over six months. Its patented technology boasts a response rate reaching up to 76%, highlighting significant therapeutic potential.
Market Segmentation and Forecast Insights for the Global Chitosan Industry
This report segments the chitosan market into several categories:
1) By Grade - Pharmaceutical Grade, Industrial Grade, Food Grade
2) By Source - Shrimp, Squid, Cra*b, Krill, Other Sources
3) By Application - Water Treatment, Food and Beverages, Cosmetics, Medical and Pharmaceuticals, Agrochemicals, Other Applications
Further subsegments include:
- Pharmaceutical Grade: Drug Delivery Systems, Wound Healing Applications
- Industrial Grade: Water Treatment, Agriculture and Crop Protection
- Food Grade: Food Preservation, Nutraceutical Applications
These classifications help provide a clear view of where demand and growth opportunities lie across different sectors and product types.
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