The main factors motivating the chitosan industry are the plentiful raw material accessibility and developing uses from numerous end-use segments. The ongoing R&D activities focused on finding novel applications of chitosan as well as improving the existing technology are also predictable to donate towards the growth of the chitosan market during the analysis period. However, the high making cost of chitosan and its byproducts and product inconsistency due to seasonal, regional, and chemical alterations could hinder the market development.
The critical driver that is increasing the chitosan market is the severe scarcity of freshwater due to the growing urban people and the fast rate of industrialization. As a solution, administrations and the private market performers are making savings for the water treatment universal. A sole combination known as chitosan flocculant is used in the cure of the water, as it is cost operational and is more effective than the flocculant in the water treatment. The booming personal care industry is increasing the worldwide chitosan market. Chitosan is used as an element in the products of dental care, hair care, and skincare products. It has the right skin creaming property, thus used in numerous skincare products. The factor that is negatively moving the market development is the high cost of the raw materials for the manufacturing of the chitosan.
Prevailing applications of chitosan from the end-user industry will uplift the market growth in the forecast period
Rising demand for products from the cosmetics sector is also predictable to surge growth on the market and the increasing use range for products for wastewater therapy. Besides, removing strict laws limiting the establishment by the Government of Mexico of new producing units led to the development of large-scale, new pharmaceutical installations in the region. Also, increasing uses of the product in water therapy, such as chelating, flocculant, coagulating agents, will have a significant effect on section growth.
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Rising awareness among the people regarding the uses of chitosan will boost the market growth
Due to the surge in product consumption as a food additive and food supplement, the request for food and beverages is predictable to be the firmest CAGR from 2019 to 2026. The product is also used for the niche industry in a diversity of other sectors, including agrochemicals, photography, textile concluding, and pulp & paper. More request is also predisposed to fuel the product demand for bio-based cosmetics and augmented public expenses in water purification methods and application for natural, nontoxic water conduct chemicals.
Global Chitosan Market: Segmentation
Industrial-grade chitosan is extensively used in agrochemicals, water treatment, and other uses. It is a low-cost grade of chitosan. The rising demand for non-chemical products/technologies such as UV disinfection and membranes in water treatment and agrochemical uses is motivating the development of the industrial-grade chitosan market.
Based on the application trends, the chitosan market has been divided into biomedical, cosmetics, food and beverage, water treatment, pharmaceutical, and others. Amid these water cures were the major application segment, owing to its growing demand from industrial, commercial, and municipal waste treatment plants.
Geographically, the Global Chitosan Market is divided into North America, Europe, Asia-Pacific, and LAMEA regions. Asia-Pacific tops the global chitosan market accounting for more than half of the market share in terms of value and volume. Asia-Pacific is predictable to endure to lead the market during the prediction period owing to the occurrence of important number of market players, particularly in China, Japan, India, and Thailand.
Global Chitosan Market: Regional insights
The Asia Pacific developed as the primary regional market in 2019. It is also predictable to be the fastest-growing region due to the fast development of end-use industries in South Korea, Japan, China, and India. Increasing demand for bio-based products coupled with supporting government scenarios in these counties is probable to drive the local request for chitosan. As per the Korea Food & Drug Administration, products such as chitooligosaccharides and glucosamine are considered safe for use in dietary supplements. Likewise, in Japan, it is filed on the food flavors list given by The Japan Food Chemical Research Foundation.
In the Asia Pacific, Japan has been one of the leading makers as well as consumers of chitosan owing to the presence of plentiful raw material coupled with early recognition of the benefits offered by the product.
BioPhrame Technologies, Biothera, Dainichiseika Color & Chemicals Mfg. Co. Ltd, United Chitotechnologies Inc., Koyo World (Hong Kong) Co. Ltd., Kraeber & Co. GmbH, Foodchem International Corporation, FMC Corporation, Xianju Tengwang Chitosan Factory, and PT Biotech Surindo.
In March 2019, DRDO, the Indian Defence Research and Development Organisation, have developed ‘combat drugs’ in demand to decrease causalities caused in the warfare. Among all the other combat drugs that they have designed, Chitosan gel helps to prevent blood loss by creating a film over the wound, thus stopping the bleeding.
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