Chitosan Market Size, Revenue Share, Major Players, Growth Analysis, and Forecast, 2021–2028

Chitosan
Chitosan

The latest industry analysis report published by Reports and Data provides vital data and information relating to the global Chitosan Industry and precisely evaluates the forecast market size and revenue growth rate. The study specializes in an in-depth analysis of the key market dynamics including drivers, restraints, opportunities, supply & demand ratios, upcoming market trends, technological innovations, and value chain analysis. It has several possible biomedical and commercial uses. It is applicable in agriculture as a seed treatment and biopesticide, in which, it helps in treating fungal infections. In the paints & coating industry, it can be applied in a self-healing polyurethane paint coating. In winemaking, it is used as a fining agent that is also helping to avoid spoilage. In medicine, it is useful in bandages for minimizing bleeding and as an antibacterial agent. The continuous rise in cardiovascular diseases and obesity acts as another contributing factor propelling the market growth. It is a fibrous substance that helps in restricting the absorption of dietary fat, and cholesterol, which has resulted in its elevated application in the treatment of obesity and cardiovascular diseases.

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According to the latest market intelligence report, the global Chitosan market is projected to reach a staggering market size of USD 2,093.5 Million By 2028 from USD 784.8 Million in 2020, registering a steady CAGR of 12.9%. The report offers other vital information related to industry annual sales, regional market outlook, product portfolios, application ranges, shifting consumer tastes & preferences, changing production & consumption patterns, volatile demand & supply graphs, and key industry statistics. The report expounds on the competitive scenario of the Chitosan market and evaluates the current position of each market player using analytical tools including SWOT analysis, Porter’s Five Forces analysis, and Capacity Utilization analysis.

The global materials & chemicals industry has gained impetus over recent years, owing to factors such as rising demand for essential consumer products including food & beverages, cosmetics, and personal care & hygiene products, and increasing use of chemicals and raw materials in the buildings & construction, agriculture, textiles, automotive, packaging, and several other industries. The rising focus of manufacturers on deploying environmentally sustainable materials and chemicals to augment industrial productivity and reduce carbon footprint is a major factor driving the growth of this industry. Rising consciousness about environmental conservation, the introduction of technologically advanced and organic chemical products, and the growing use of high-performance specialty chemicals further boost the industry revenue growth.

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Further key findings from the report suggest

The Chitosan market held a market share of USD 598.1 Million in the year 2018. It is projected to witness a growth rate of 13.6% during the forecast period.

In regards to Grade, the Industrial Grade segment generated the highest revenue of USD 287.1 Million in 2018, with a growth rate of 13.4% during the forecast period. The inexpensiveness of industrial-grade chitosan, its traits like non-toxicity, and biocompatibility result in its extensive application, like in agrochemicals, and industrial wastewater treatment, which contributes to the revenue generated by this segment.

In context to Application, the Water Treatment segment occupies the largest market share of 35.0% in 2018, with a CAGR of 13.8% during the forecast period. The extensive application of the polymer in water treatment is a resultant of its active biosorbent ability that results in the efficacious elimination of pollutants from wastewater.

In regards to Source, the Shrimps segment yielded the highest revenue of USD 227.3 Million in 2018, with a growth rate of 13.9% during the forecast period. The revenue generated by the Shrimps segment is attributed to the continuous expansion of fishing activities, the resultant large amounts of shrimp processing waste, and the presence of value-added properties in the residues, which has resulted in its wide application in the extraction of the polymer.

In regards to region, Europe holds the third-largest market share of 20.0% in 2018, with a growth rate of 13.7% during the forecast period. Factors like the continuous rise in obesity rate, the rising occurrence rate of cardiovascular diseases, and the growing geriatric population are spurring the growth of the market in this region.

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Top Companies Profiled in the Chitosan Market Report:

Heppe Medical Chitosan GmbH, Kitozyme S.A., Primex EHF, Vietnam Food, Advanced Biopolymers A S, G.T.C. Bio Corporation, Bio21 Co., Ltd., Zhejiang Golden-Shell Pharmaceutical Co., Ltd., Taizhou City Fengrun Biochemical Co., Ltd. and Agratech.

Grade Type Outlook

Pharmaceutical Grade

Industrial Grade

Food Grade

Source type Outlook

Shrimps

Crabs

Prawns

Lobsters

White mushroom

Others

Application Type Outlook

Food & Beverages

Water Treatment

Medical & Pharmaceuticals

Cosmetics

Agrochemicals

Others

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