Global Chitosan Market is valued at USD 602.85 Million in 2018 and expected to reach USD 1480.92 Million by 2025 with the CAGR of 13.70% over the forecast period.
Chitosan Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Global Chitosan Market place for the forecast 2019– 2025.
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Market Analysis of Chitosan-
The global market of chitosan has been expanding all over the world and has been expected to see a major growth in the coming few years too. Chitosan is known as the de-acetylated type of chitin which is a biopolymer that has been extracted out of the shells of the crustaceans like crabs, shrimp as well as others. As per the authorities, it has been estimated that the shell waste has been generated out of crustaceans at a very high level specifically in Europe and the rest of the total mass is consumed. The shell waste has been characterized as with a huge amount of chitin which is processed further and made into glucosamine, chitosan as well as the other derivatives. At an average, a waste shell carries a large amount of calcium carbonate and a bit of chitin.
Chitosan Market Key Players Analysis
Primex EHF, Heppe Medical Chitosan GmbH, Vietnam Food, Kitozyme S.A., Agratech, Advanced Biopolymers as, Bio21 Co., Ltd., G.T.C. Bio Corporation, Taizhou City Fengrun Biochemical Co., Ltd., Zhejiang Golden-Shell Pharmaceutical Co., Ltd., Ningbo Zhenhai Haixin Biological Products Co. Ltd., Weifang Haizhiyuan Biological Products Co., Ltd., Qingdao Yunzhou Biochemistry Co., Ltd, Panvo Organics Pvt Ltd, Xianju Tengwang Chitosan Factory, PT Biotech Surindo, Koyo Chemical Co., Ltd.
The one chitin which is there is treated with a few alkalis and acids under the idea conditions for a reaction. After it has undergone a good amount of demineralization and the process of de-proteinization, the material is then processed further to create chitosan. Apart from this process, chitosan may also be produced from a few fungi. Though the lower amount of chitin present in the walls of the fungi and there not being a process of extraction of chitosan at an optimal level is making this cultivation on a commercial basis a source which is not followed too much. All these factors are positively impacting the growth of global chitosan market.
The major applications of chitosan in the world are seen in the food and beverages, biomedical and pharmaceuticals, agriculture and bio-printing as well others. Moreover, the records include the global chitosan market segmentation on the basis of the sources of the material like squid, crab, krill and shrimp. The factory which is driving the industry are the abundant availability of raw material and the applications which are emerging from a lot of end use segments. The ongoing activities which are focused on the finding of novel applications of the substance along with the development of the technology that exists has also been contributing to the growth of the market in the period of forecast. But, the higher cost of production and the further high cost of making its derivatives plague the growth in the global chitosan market. What also hampers growth is the inconsistency as this is something that is regional, seasonal and modifies chemically and may hamper the growth of the global chitosan market.
The segmentation is done on the basis of geography, application as well as sources. The biggest source of the global chitosan market includes the wastes from krill, squid, shrimp and crab. Shrimp is something that is used in the form of a major source of chitosan. In terms of application, the global chitosan market has been segmented in terms of the application as biomedical, pharmaceuticals, treatment of water and the cosmetics in addition to foods and beverages among others. The other applications include forming coatings and paints as well as the bio-printing.
Chitosan Key Market Segments
Shrimp, Crab, Krill, Squid
Water Treatment, Biomedical & Pharmaceuticals, Cosmetics, food & Beverage, Others
Chitosan Market by Regional Analysis
North America (USA, Canada, Mexico), Europe (UK, France, Germany, Russia, Rest of Europe), Asia-Pacific (China, South Korea, India, Japan, Rest of Asia-Pacific), LAMEA, Latin America, Middle East, Africa
In terms of region, the global chitosan market has been segmented into Europe, LAMEA, North America and Asia-Pacific. The region of Asia-Pacific is leading this market and has over half of the market share in terms of volume and value. The region is also expected to maintain its lead in the global chitosan market in the period of forecast due there being presence of manufacturers particularly in Japan, India, Thailand as well as China. Japan has been accounting for the biggest share in the chitosan market of Asia-Pacific as it has been generating a lot of revenue which is only expected to grow in the forecast period and almost reach a point which is double of the revenue it last registered.
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