Chitosan Market Information - by Source (Shrimp, Squid, Crab, and Krill), Application (Agriculture, Food Industry, Pharmaceuticals) and Region Forecast to 2022
— Chitosan Market
Chitosan Market Key Players:
Chitosan Market report includes Heppe Medical Chitosan GmbH (Germany), Advanced Biopolymers AS (Norway), G.T.C. Bio Corporation (China), Nova matrix (Norway), Agratech International, Inc. (U.S.), Golden-Shell Pharmaceutical Co. Ltd. (China), Qingdao Yun Zhou Biochemistry Co. Ltd. (China), Panvo Organics Pvt Ltd. (India), Kitozyme S.A. (Belgium), Primex ehf (Iceland) and others.
Chitosan Market Overview:
Chitosan Market is expected to grow with the CAGR 18.02 % of more than from 2018 to 2022, and with this it is predictable to cross USD 5.02 Billion by 2022.
Chitosan Market was valued at USD 2.05 billion in 2015 and is likely to reach USD 5.02 billion in 2022, expanding at CAGR of 18.02% between 2015 and 2022. Asia pacific region was the leading chitosan market with an estimated market size of 8050 MT in 2011 and is projected 15010 MT in 2015. The U.S. has represented the second largest market in 2015 and is expected to reach in billions by 2022.
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Chitosan Market is increasing due to in agriculture industry chitosan is used in seed treatment, soil improvement, feed additives. In-addition, in pharmaceutical industry it is utilized in improving immunity, lowering blood pressure, and in cosmetics. Water treatment is expected to grow at a CAGR over 19% from 2018 to 2022, owing to its high demand for removal of metals and chemicals from wastewater including, surfactants, phenol and polychlorinated biphenyls.
Chitosan Market Segments:
Chitosan Market is segmented according to application as agriculture, food industry, pharmaceuticals and others in agriculture industry water treatment is the largest application of chitosan. It is highly used as a flocculant to treat wastewater. Additionally, it is also used to treat organic as well as inorganic compounds that are present in water. Chitosan is also used in wastewater treatment technology due to its properties such as easy availability, biodegradability and non-toxic nature. Agrochemical application is expected to be the fastest growing segment during the forecast period. With economic development, countries like China, U.S are innovative technology which causes chitosan market to rise in future.
Chitosan Market Application:
Chitosan Market report focuses on chitosan and its major applications including, water treatment, food & beverage, cosmetics, biomedical & pharmaceuticals, bio printing & agriculture, and others. Furthermore, the report includes market segmentation based on sources of chitosan such as shrimp, crab, krill, and squid.
Chitosan is a type of fibre derived from chitin, a substance that develops in the hard-outer shells of crustaceans such as crab, crayfish, shrimp and squid. The properties associated with chitosan such as antibacterial, anti-fungal and anti-viral has availed its scope in food and beverages food & beverages and agriculture industry. Demand in this market is also considered export driven as Asia pacific is considered as key producer of chitosan.
Chitosan offers potential applications in the food industry due to properties associated with it. Properties including physico-chemical properties, short time biodegradability, biocompatibility with human tissues, antimicrobial an antifungal activity, and non-toxicity have made its use crucial in food applications. In addition to this, chitosan-based films have established its application in food preservation and packaging owing to antimicrobial property exhibited by chitosan against pathogens and spoilage micro-organisms. Taking into account food applications expected to surge demand in the coming years.
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Chitosan Market Regional Analysis:
Geographically, Asia Pacific has been the traditional global leader in this market and had acquired more than half of the market. Japan had played key role in the domination of Asia Pacific over the global market, as it has abundance raw material linked with early awareness regarding the benefits offered by the product. The country held majority shares in this region due to waste water applications which is a major application segment. Innovative solution in cosmetics industry in Chain and South Korea has been complementing the regional demand over the past few years for chitosan. The region will be retaining its global control due to flourishing demand offered by food, pharmaceutical and cosmetics industry.
Chitosan Market Competitive Landscape:
Chitosan Market represented moderate growth over past seven years driven by increasing penetration of new market players along with incr5esing application scope. The key industry participants listed in this market Heppe Medical Chitosan GmbH, Advanced Biopolymers AS, G.T.C. Bio Corporation, Nova matrix, Agratech International, Inc., Golden-Shell Pharmaceutical Co. Ltd., Qingdao Yun Zhou Biochemistry Co. Ltd., Panvo Organics Pvt Ltd., and Kitozyme S.A. Degree of competition observed industry experts in this market is identified as relatively medium.
Chitosan Market consists of large number of Tier 2 and Tier 3 companies and is highly fragmented in nature. None of the market players holds considerable market shares due to which this market is expected to undergo several numbers of merger and acquisition activities in the coming years. Easy availability of raw material linked with diverse application scope of chitosan may offer growth opportunities in the coming years for new entrants. Major applications are addressed in food and beverages industry along with cosmetics industry, thus, new market entrants are according plan their strategic alliance in respective segments.
Chitosan Market Table of Content to be Continue……,
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