Chitosan Market size is set to growth with 19.21% CAGR through 2026
Chitosan Market growth is witnessing a 19.21% CAGR driven by growing product application across water treatment, cosmetics, medical, and cosmetics industry over 2020-2026 forecast period.
Moreover, the growing trend towards the use of chitosan for water treatment as well as to reduce the use of chemical products is also leading to the chitosan market growth. Further, increasing demand for naturally-derived ingredients coupled with antifungal and antimicrobial properties of the product is fuellingthe chitosan market growth over the forecast period.
Increasing demand for bio-based cosmetic products and rising government funds on water purification technologies and demand for non-toxic water drives the market growth.
Chitosan marketplace is expanding due to its number of bio medical uses and application across the industries of wine, agricultural, water treatment. The natural bio control and elicitor chitosan is a linear polysaccharide, prepared by treating the crustaceans and shells of shrimps with the alkaline substances.
To reduce the shrimps farming was one of the challenges in the Chitosanmarket. Later, due to several health benefits and growing demand for the shrimp consumption lead to increase in the farming activities.
The shells produced from shrimps and other organisms that are get wasted and thrown away are later, gathered from fish market and processed to bring in the use for different applications.
Chitosan market is largely influenced by growth in Textile Industry
Large consumption for chitosan from textilesindustry with advantages over eco-friendly products and improved dyeing abilityboosts chitosan marketgrowth.
Further, chitosan when mixed with direct dyes increasesthe color strength and enhances the quality of fabrics.
The microencapsulation technique is too used in textile industries to obtain control release of active components for a particular purpose.
Chitosan to Extent the conventional process of fiber textile pre treatment for the resistance of warp breakage caused by highly stressed weaving process.
The textile industry can have multiple purposes for the technological and ecological aspects, the modification possibilities of Chitosan makes versatile uses of the textile raw material to the final product.
Pharmaceutical Supremacy with Cost-Effective and Eco-Friendly Chitosan
By the growing pharmaceutical industry driven by rising applications of the product as flocculating, coagulating, and chelating agent in water treatment is boosting the chitosan market growth.
Efficient and environment-friendly biopolymer chitosan is largely penetrating market growth with benefits of novel material for its application in power modules. This biopolymer can be utilized as a part of both layer electrolyte and anode in different power modules.
Also, cost-effective and eco-friendly chitosan has been increasingly used as layer electrolytes and terminals in low to halfway temperature hydrogen polymer electrolyte energy units, acid neutralizer energy units, and biofuel cells.
The growth of the water treatment application segment of the chitosan market can be attributed to the increased use of chitosan for treating water due to itsbio-sorbent ability, which enables it to remove pollutants from wastewater.
In developed and developing countries the demand for water treatment products is high and factors suchas the existence of pathogens and pesticides in the water and lack of water treatment techniquesare driving the demand, watertreatmentis also the major end-use application segment for chitosan in the global market.
Asia Pacific to lead the Chitosan Market growth across regions
The Asia Pacific region is the largest consumer of chitosan across the globe and is also projected to dominate the Chitosan Market in terms of value during the forecast period owing to presence of a large number of manufacturers in Japan and easy availability of raw material.
In addition, growing product application in several end-use industries and rapid industrialization in countries like India, China, and Thailand is driving the regional market growth.
Increasing need for potable water coupled with diminishing fresh water resources is expected to offer market opportunityin medium to long term future.
The North American region is expected to be the second-largest consumer of chitosan across the globe due toincreasing awareness of self-care activities along with growth of pharmaceutical and food and beverage retail sector is influencing the growth of the North America chitosan market.
Manufacturers to focus on new production processes and technologies in chitosan market size
Thecompaniesoperating in the chitosan market are currently focused on carrying out R&D activities. These vendors are carrying out research activities to develop new production processes and technologies for manufacturing chitosan.
Moreover, research activities are also being carried out for the commercial production of chitosan from non-aquatic sources such as fungi, yeasts, and algae.
The major players contributing in the chitosan market include Primexehf, Heppe Medical Chitosan GmbH, Vietnam Food, KitoZyme S.A., Agratech, AdvancedBiopolymers AS, BIO21 Co.Ltd., G.T.C. Bio Corporation, FMCCorp., Golden-Shell Pharmaceutical Co. Ltd.