USD 11.04 billion
Global Chitosan Market Size, Share, Growth Analysis, By Source(Shrimp, crab), By Application(Water treatment, food & beverage) - Industry Forecast 2024-2031
Report ID:
SQMIG15E2386 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|
Tables:
66 |
Figures:
75
Global Chitosan Market Insights
Global Chitosan Market size was valued at USD 11.04 billion in 2022 and is poised to grow from USD 13.39 billion in 2023 to USD 62.76 billion by 2031, at a CAGR of 21.3% during the forecast period (2024-2031).
The Global Chitosan Market is a thriving industry poised for remarkable growth in the coming years. The market is driven by several key factors. Firstly, the increasing awareness and demand for natural and organic products are fueling the growth of the market. Consumers are increasingly opting for sustainable and eco-friendly alternatives, and chitosan perfectly fits the bill. Secondly, the rising health consciousness and the growing pharmaceutical industry are driving the demand for chitosan as it exhibits excellent properties for drug delivery systems, wound healing, and tissue engineering. Moreover, the agriculture sector is witnessing a surge in chitosan applications due to its role in plant growth promotion, pest control, and as a biopesticide. Chitosan's ability to enhance crop yield, reduce chemical fertilizer usage, and protect plants from pathogens and pests has made it a valuable tool in modern agriculture practices. While the chitosan market offers immense opportunities, it also faces certain restraints. The high production cost of chitosan, limited availability of raw materials, and complex extraction processes pose challenges for market growth. Additionally, regulatory constraints and quality control standards need to be addressed to ensure consistent product quality. Key trends in the market include the development of innovative chitosan-based products and formulations, collaborations between industry players, and research advancements to expand the scope of chitosan applications. Amidst these dynamics, the market presents lucrative opportunities for industry players. The growing demand for chitosan in pharmaceuticals, food preservation, and water treatment applications opens doors for market expansion. Furthermore, the increasing adoption of chitosan in emerging economies and the untapped potential in various industrial sectors provide a fertile ground for market growth. With its sustainable and versatile nature, chitosan is revolutionizing industries worldwide. Its remarkable properties, combined with the growing consumer preference for natural alternatives, make the global chitosan market a promising arena for investment, innovation, and a sustainable future.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Shrimp
Fastest Growth
Squid
Growth Rate
21.3% CAGR
Global Chitosan Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Chitosan Market Size By Source($ Bn)
Global Chitosan Market Size By Source (%)
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Global Chitosan Market Segmental Analysis
Global Chitosan Market is segmented on the basis of source, application, and region. By source, the market is segmented into shrimp, crab, squid, and others. By application, the market is segmented into water treatment, food & beverage, cosmetics & personal care, agriculture, and biomedical & pharmaceuticals. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Chitosan Market Analysis By Source
Shrimp-based chitosan is the largest segment, accounting for the majority of the market share. The dominance of shrimp-based chitosan is due to the abundance of shrimp waste generated in seafood processing industries. Shrimp shells are a rich source of chitin, and the increasing demand for shrimp as a popular seafood item has led to the growth of the shrimp-based chitosan market. In addition, shrimp-based chitosan is known for its high purity and quality, which makes it attractive to various end-use industries such as pharmaceuticals, agriculture, and cosmetics.
However, the fastest-growing segment in the chitosan market is squid-based chitosan. The demand for squid-based chitosan is increasing due to its unique properties such as high molecular weight and degree of deacetylation, which make it suitable for a wide range of applications. Squid-based chitosan is also considered to be more sustainable compared to other sources, as it utilizes a waste stream that would otherwise be discarded. The abundance of squid waste in the Asia Pacific region is also driving the growth of this segment.
Chitosan Market Analysis By Application
The water treatment segment holds a significant portion of the chitosan market due to the remarkable properties of chitosan in water purification processes. Chitosan has a unique ability to effectively remove heavy metals, organic compounds, and contaminants from water, making it an ideal choice for water treatment applications. With growing concerns about water pollution and the increasing need for clean water sources worldwide, the demand for chitosan in water treatment continues to rise.
On the other hand, the biomedical & pharmaceuticals segment is experiencing the fastest growth in the chitosan market. Chitosan's remarkable biocompatibility, biodegradability, and antimicrobial properties make it a valuable material for various medical applications. It is widely used in wound healing, drug delivery systems, tissue engineering, and other biomedical applications. The rising prevalence of chronic diseases, advancements in drug delivery technologies, and the growing demand for regenerative medicine are driving the rapid growth of the biomedical & pharmaceuticals segment.
Global Chitosan Market Size By Source, 2023 (%)
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Global Chitosan Market Regional Insights
The Asia-Pacific region dominated the global chitosan market. The region's success can be attributed to several factors, including a strong presence of key manufacturers, abundant availability of raw materials, and a thriving pharmaceutical and food industry that extensively utilizes chitosan in various applications. With a population of over 4.5 billion and rapidly growing industrial sectors, the Asia-Pacific region offers a vast consumer base and a lucrative market opportunity for chitosan products.
On the other hand, North America is positioned as the fastest-growing region in the global chitosan market. The region's impressive growth is fueled by a rising awareness of the numerous benefits offered by chitosan across multiple industries, including pharmaceuticals, cosmetics, and agriculture. Furthermore, increasing demand for organic and sustainable products, coupled with stringent regulations promoting eco-friendly solutions, has significantly boosted the adoption of chitosan in North America. With a CAGR of 23.5% projected over the next five years, North America is expected to witness substantial market growth, opening doors for investors and stakeholders seeking promising opportunities in the chitosan industry.
Global Chitosan Market Size By Region, 2024-2031
- Largest
- Fastest
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Global Chitosan Market Dynamics
Chitosan Market Drivers
Increasing Demand in Water Treatment
- Chitosan is widely used in water treatment applications due to its excellent flocculation and adsorption properties. The growing need for clean and potable water, particularly in developing regions, is driving the demand for chitosan-based water treatment solutions. For example, chitosan can effectively remove heavy metals, dyes, and organic pollutants from wastewater, making it an attractive choice for industries and municipalities aiming to achieve water quality compliance.
Expanding Applications in Healthcare
- Chitosan has gained significant attention in the healthcare sector due to its biocompatibility, biodegradability, and antimicrobial properties. It is utilized in wound healing, drug delivery systems, tissue engineering, and as a coating material for medical devices. With the increasing prevalence of chronic diseases and the growing demand for advanced wound care products, the healthcare industry represents a significant driver for the chitosan market.
Chitosan Market Restraints
Limited Raw Material Availability
- Chitosan is derived from chitin, primarily sourced from shellfish waste, such as shrimp and crab shells. The availability and consistent supply of high-quality chitin can be a restraint for the chitosan market. Factors such as seasonal variations in shellfish catch and competition for shellfish waste utilization can affect the availability and pricing of raw materials.
High Production Costs
- The manufacturing process of chitosan involves complex extraction and purification techniques, which can be energy-intensive and require specialized equipment. These factors contribute to high production costs, which may limit the adoption of chitosan in some applications, especially in price-sensitive industries.
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Global Chitosan Market Competitive Landscape
The Global Chitosan Market is highly competitive and fragmented, with a large number of players operating in the market. Some of the key players in the market are investing heavily in research and development activities to expand their product portfolios and develop innovative chitosan-based products. They are also focusing on strategic partnerships, collaborations, and acquisitions to strengthen their market position and expand their customer base. In addition, the market players are adopting various growth strategies such as expanding their distribution networks, launching new products, and improving their production processes to gain a competitive edge. The demand for chitosan is increasing due to its wide range of applications in various industries such as healthcare, agriculture, water treatment, and cosmetics. As a result, the market players are exploring new market opportunities and expanding their geographical presence to cater to the growing demand for chitosan across the globe.
Top Player’s Company Profiles in Chitosan Market
- KitoZyme (Belgium)
- Primex (USA)
- Advanced Biopolymers AS (Norway)
- G.T.C. Bio Corporation (Japan)
- Taizhou Aotian Fine Chemical Co., Ltd. (China)
- Biophrame Technologies (USA)
- Golden-Shell Pharmaceutical Co., Ltd. (China)
- United Chitotechnologies Inc. (Taiwan)
- Panvo Organics Pvt. Ltd. (India)
- Primex Iceland (Iceland)
- Zhejiang New Fuda Chitosan Co., Ltd. (China)
- CarboMer Inc. (USA)
- Koyo World (Japan)
- PT Biotech Surindo (Indonesia)
- Primex EHF (Iceland)
- KitoZyme SA (Belgium)
- Qingdao Yunzhou Biochemistry Co., Ltd. (China)
Chitosan Market Recent Developments
-
In November 2023, ChitogenX Inc., a clinical-stage regenerative medicine company, announced that it has launched a new development program targeting significant unmet medical needs in the burn and skin repair market, currently valued at US $19B and growing at 5% + CAGR through 2032. New patent in US and Canada supports ChitogenX' proprietary chitosan-based biopolymer as ideal combination with cellular regeneration technologies.
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In September 2023, Green chemistry startup Tidal Vision raised more than $20 million and announced the acquisition of one of its customers for an undisclosed sum. The Bellingham, Wash.-based business turns waste crab shells into a versatile, biodegradable polymer called chitosan (pronounced “kite-osan”) that can be used for wide-ranging industrial purposes.
Global Chitosan Key Market Trends
- Growing Demand for Natural and Sustainable Products: There is an increasing preference for natural and sustainable products across various industries. Chitosan, being a renewable and biodegradable polysaccharide, aligns with these trends. It is being used as an eco-friendly alternative to synthetic polymers in packaging materials, agricultural products, and personal care items.
- Rising Interest in Functional Food and Nutraceuticals: Chitosan's properties, such as its ability to bind fats, promote satiety, and support cholesterol management, have led to its incorporation in functional food and nutraceutical products. Chitosan-based dietary supplements and food additives are gaining popularity among health-conscious consumers, driving the demand for chitosan in the food industry.
Global Chitosan Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Chitosan Market analysis, the market is experiencing substantial growth and is expected to continue its upward trajectory in the coming years. The market analysis reveals that the increasing demand for chitosan across various industries, such as pharmaceuticals, cosmetics, food and beverages, agriculture, and wastewater treatment, is driving the market's growth. Chitosan's exceptional properties, including biocompatibility, biodegradability, antimicrobial activity, and film-forming capabilities, make it a highly sought-after material. Additionally, the rising awareness regarding the use of eco-friendly and sustainable products has further propelled the demand for chitosan-based solutions. The market research indicates that the Asia-Pacific region dominates the chitosan market, attributed to the presence of key manufacturers, growing industrial activities, and the extensive application of chitosan in traditional Chinese medicine. With ongoing research and development efforts to explore new applications and improve chitosan production techniques, the global market is poised for significant growth in the foreseeable future.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 11.04 billion |
| Market size value in 2031 | USD 62.76 billion |
| Growth Rate | 21.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Chitosan Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Chitosan Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Chitosan Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Chitosan Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Chitosan Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Chitosan Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Chitosan Market Report Snapshots
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