Based on region, Asia-Pacific, followed by North America, contributed to the highest share, accounting for nearly three-fifths of the global chitosan market share in 2019, and will maintain its dominance throughout the forecast period. Moreover, the region is also expected to grow at the highest CAGR of 15.3% from 2020 to 2027. This is owing to the easy availability of crustacean waste in coastal areas, in this region.
The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. According to the report published by Allied Market Research, the global chitosan market generated $1.7 billion in 2019, and is estimated to reach $4.7 billion by 2027, registering a CAGR of 14.5% from 2020 to 2027.
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The market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.
Increase in usage of chitofelx in hemostatic dressing and rise in demand for bio-based cosmetic products boost the growth of the global chitosan market. Conversely, high cost associated with the production of chitosan hinders the market growth. Nevertheless, rise in adoption of chitosan as bio-plastic is expected to create numbers of opportunities for the market players.
Based on source, the shrimp segment contributed to the largest share in 2019, accounting for more than three-fourths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the crabs segment is estimated to portray the highest CAGR of 19.8% during the forecast period.
Chitosan market based on application, the water treatment segment accounted for the largest share in 2019, holding more than one-third of the total share, and is expected to maintain the largest share throughout the forecast period. In addition, it is expected to register the highest CAGR of 15.9% from 2020 to 2027. The research also analyzes segments including biomedical & pharmaceutical, cosmetics, food & beverage, and others.
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- Transportation restrictions imposed due the Covid-19 outbreak led to reduced factory output and disrupted supply chains.
- Extended lockdowns have slowed down the production of chitosan products due to limited resources and longer lead time to replenish raw materials.
- Current research studies have showed antiviral effectiveness of HTCC that is N- (2-hydroxypropyl) -3-trimethylammonium chitosan chloride against SARS-CoV-2 and MERS-CoV, which may improve the demand during the lockdown period.
Leading market players
- Heppe Medical Chitosan GmbH
- Advanced Biopolymers AS
- Primex ehf, G.T.C.
- Bio Corporation
- Kitozyme S.A.
- Golden-Shell Pharmaceutical Co. Ltd.
- Agratech International, Inc.
- Panvo Organics Private Ltd
- Qingdao Yunzhou Biochemistry Co. Ltd.
Key offerings of the report:
- Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
- Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
- Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
- Regional Analysis: Thorough analysis of each region help market players devise expansion strategies and take a leap.
- Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.
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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.