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Chitosan Market Size, Share Global Analysis Report, 2022 – 2028
Chitosan Market Size, Share, Growth Analysis Report By Source (Shrimp, Squid, Crab, Krill, and Others), By Application (Water treatment, Biomedical & Pharmaceutical, Cosmetics, Food and Beverage, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028
Industry Insights
[219+ Pages Report] According to the report published by Facts & Factors, the global chitosan market size was worth USD 7,192.30 million in 2021 and is estimated to grow to USD 26,272.32 million by 2028, with a compound annual growth rate (CAGR) of approximately 24.10% over the forecast period. The report analyzes the chitosan market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the chitosan market.
Market Overview
Chitosan is a polysaccharide derivative of chitin obtained from the shells of marine animals such as shrimp, lobster, and crab. Commercial chitosan is made by deacetylating chitin extracted from crustacean shell fragments. Chitosan limits lipid absorption in the gastrointestinal tract. Therefore, it is often used in dietary supplements. Due to its biocompatibility and biodegradability, it is widely used in healthcare. Chitosan's anticoagulant properties make it suitable for hemostatic dressings to treat wounds. In addition, it is also used as a biopesticide in agriculture, limiting pathogenic effects on tree and plant growth promoters and in water treatment.
Furthermore, it is used in polyurethane paints and coatings, organ bioprinting, and as a food preservative. Expanding product applications in the biomedical, cosmetic, food & beverage industries, increasing water treatment activity worldwide, and strong advances in the healthcare/medical industry in developed countries are projected to drive the market expansion during the forecast period. Systems composed of chitosan utilize the properties of chitosan to achieve superior therapeutic effects. The rising need for wastewater treatment worldwide is expected to boost the growth of the global chitosan market.
COVID-19 Impact:
COVID-19 is impacting the economies of various countries and multiple industries with lockdowns, travel bans, and business closures. Various manufacturing plants closures have also impacted global supply chains, adversely affecting the production, delivery schedules, and sales of goods in global markets. The food and beverage industry is also facing heavy losses due to the Covid-19 pandemic, which is putting further pressure on the global economy. It further disrupted the transportation system and cut off the supply of raw materials. Disrupted value chains are adversely affecting the supply of raw materials.
Key Insights
- As per the analysis shared by our research analyst, the global chitosan market value is expected to grow at a CAGR of 24.10% over the forecast period.
- In terms of revenue, the global chitosan market size was valued at around USD 7,192.30 million in 2021 and is projected to reach USD 26,272.32 million, by 2028.
- Key players in the chitosan market are developing innovative technologies or products for specific applications such as film packaging, skin tissue engineering, and pharmaceuticals, which are the major factors driving the market's growth.
- By source, the shrimp category dominated the market in 2021.
- By application, the water treatment category dominated the market in 2021.
- North America dominated the global chitosan market in 2021.
Growth Drivers
- Wastewater treatment application to drive the demand for chitosan
Water treatment has the largest market share due to chitosan's ability to absorb large metal ions. The rising demand for drinking water in various countries has increased the demand for chitosan in wastewater treatment. Therefore, the demand for chitosan is increasing in areas with high concentrations of contaminated water. Governments of various countries are promoting the benefits of chitosan in wastewater treatment. Developing countries have strict regulations regarding wastewater treatment. This factor is also boosting the growth of the global chitosan market.
Restraints
- High cost of products and strict regulations hamper the market growth
High product costs, which depend on quality and purity, may restrain the market growth. Strict regulations on shrimp farming and apparent shortcomings of chitosan products in drug delivery systems hinder market growth.
Opportunities
- Intense competition among market players and overcoming challenges to create opportunities
Increasing competition among top market players creates revenue opportunities for chitosan players. Additionally, increasing demand for chitosan from various industries such as cosmetics and pharmaceuticals is driving the global chitosan market growth. Market participants also focus on product innovation and research to stay ahead of their competitors.
Chitosan Market: Segmentation
The global chitosan market has been segmented into sources, applications, and regions.
Based on the source, the market is classified into shrimp, squid, crab, krill, and others. In 2021, the shrimp category dominated the global market. Unlike other chemical products, shrimp cell-derived chitosan is biocompatible, biodegradable, and non-toxic. In addition, the ready availability of shrimp reduces the cost of chitosan production. It will make it widely available and drive market growth. Chitosan, derived from shrimp shells, is used as an antibacterial, biocompatible, and environmentally friendly polyelectrolyte biomaterial for a wide range of applications, including chromatography, water treatment, additives in cosmetics, and fiber treatment for antimicrobial activity. Used for its purpose. Applying chitosan to plants can further simulate plant growth and give better results than untreated plants.
Based on application, the market is classified into water treatment, biomedical & pharmaceutical, cosmetics, food and beverage, and others. In 2021, the water treatment category dominated the global market due to the biodegradability and toxic removal effect of chitosan and the application of chitosan as a coagulant in the wastewater treatment process is expanding. Chitosan, a biomaterial, is preferred in water treatment plants worldwide due to its high purity compared to traditional water treatment methods such as sand filtration. The food and beverage segment is expected to witness steady growth owing to increasing demand for chitosan to improve the quality and shelf life of agricultural, poultry, and seafood foods.
Recent Developments
- March 2020: Bioavanta-Boston, a leader in chitosan nanoparticle research, has launched Novochizol. This proprietary chitosan nanoparticle technology can be used to deliver and limit potential anti-COVID-19 drugs to the lungs of acutely ill patients.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 7,192.30 Million |
Projected Market Size in 2028 |
USD 26,272.32 Million |
CAGR Growth Rate |
24.10% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Advanced Biopolymers AS, Agrotech International Inc, Golden-Shell Pharmaceutical Co Ltd, GTC Bio Corporation, Heppe Medical Chitosan GmbH, Kitozyme SA, Novamatrix, Panvo Organics Pvt Ltd, Primex EHF, Qingdao Yunzhou Biochemistry Co Ltd., and Others |
Key Segment |
By Source, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Chitosan Market: Regional Landscape
- North America dominated the chitosan market in 2021
North America is projected to maintain its dominance in the global chitosan market during the forecast period as well. The demand for chitosan is increasing in countries such as the United States and Canada. Increasing demand for wastewater treatment is also a major driver of the North American chitosan market. Demand for chitosan in North America is expected to increase during the forecast period due to some countries' increasing demand for drinking water. Increasing applications of chitosan in multiple industries are boosting the market growth. Using chitosan in multiple biomedical applications could benefit North American market participants in the forecast period.
Competitive Landscape
- Advanced Biopolymers AS
- Agrotech International Inc
- Golden-Shell Pharmaceutical Co Ltd
- GTC Bio Corporation
- Heppe Medical Chitosan GmbH
- Kitozyme SA
- Novamatrix
- Panvo Organics Pvt Ltd
- Primex EHF
- Qingdao Yunzhou Biochemistry Co Ltd.
Global Chitosan Market is segmented as follows:
By Source
- Shrimp
- Squid
- Crab
- Krill
- Others
BY Application
- Water treatment
- Biomedical & Pharmaceutical
- Cosmetics
- Food and Beverage
- Others
By Regional Segment Analysis
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major Market Players
- Advanced Biopolymers AS
- Agrotech International Inc
- Golden-Shell Pharmaceutical Co Ltd
- GTC Bio Corporation
- Heppe Medical Chitosan GmbH
- Kitozyme SA
- Novamatrix
- Panvo Organics Pvt Ltd
- Primex EHF
- Qingdao Yunzhou Biochemistry Co Ltd.
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