Chitosan Market demand boosted by Rising water treatment activities mainly in Asia Pacific region in the coming years.
Selbyville, Delaware – January 30, 2019 /MarketersMedia/ —
Chitosan Market is driven by strong product demand in personal care & cosmetics industry in Europe and North America. Consumers in these regions are increasingly attracted towards cosmetics with natural ingredients as they are positioned as healthier and safer alternatives to conventional cosmetics. Product finds wide-spread applications in hair care, skin care, and dental care products. They exhibit excellent skin moisturizing properties as it moisturizes the skin as well as prevents dehydration.
Europe cosmetics & personal care industry was valued close to USD 87 billion in 2017, which is anticipated to grow at a moderate rate in the coming years. However, the growth of cosmetics with organic ingredients is being increasingly preferable and therefore likely to trigger product demand significantly in the coming years and thereby resulting in attaining higher gains to the chitosan market size by 2024.
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The rapid industrialization across the globe has certainly been responsible for the growth of chitosan market. Most of the metal manufacturing and chemical processing industries release a large amount of wastewater comprising heavy metals and hazardous chemicals. In order to segregate such wastewater released from these industries, chitosan is used in wastewater treatment plants pertaining to its eco-friendliness cost-effectiveness, biodegradability, and excessive availability. Increasing investments in the construction of wastewater treatment plants across myriad geographies are poised to propel the chitosan market share over the years ahead.
Chitosan market has also etched out a growth path through the development of edible alternatives in food packaging. Researchers are therefore developing packaging alternatives made of chitosan as an option that has the potential to replace plastic in the food and animal feed industries. As per the Australian Marine Debris Initiative Database, plastics constitute one of the biggest pollutants in the Australian waterways, with up to 130,000 tones winding up in the ocean each year.
Researchers at the National University of Singapore have succeeded in developing an ecofriendly food packaging material that is chemical additives free by fortifying natural chitosan composite film with seed extract from grapefruit. This innovative food packaging material can impede fungal growth resulting in doubling the shelf life of perishable food. As such packaging options come to achieve mainstream acceptance, chitosan market is bound to register a growth influx over the ensuing years.
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Crabs based chitosan market size is anticipated to grow at a CAGR close to 19.0% by 2024. This is mainly attributed to extensive product use across various end-user industries including healthcare/medical, cosmetics, water treatment, cosmetics, agriculture, etc. For instance, crabs based chitosan are widely used in the production of medicines which are used to treat obesity, high cholesterol, prevention of increase in blood pressure, improving intestinal environment, etc. The product derived from chitosan is also used widely in food & beverage industry which includes formation of biodegradable films & coatings, immobilization of enzymes, as an antimicrobial agent and dietary supplement, owing to its hypocholesterolemic properties.
Asia Pacific led the total chitosan market and accounted for more than 55% of the industry size in 2017. This is attributed to rapidly growing cosmetic market which is mainly due to rise in socio-economic factors and youth population in India and China. Moreover, Asia Pacific has a tremendous potential in pharmaceutical market, as many foreign companies are investing in India due to its business-friendly policies. Additionally, India and China have a wider scope in biomedicine field due to the continuing research in this area. The personal care and health care industry is rapidly evolving in India, Indonesia, Malaysia and Vietnam. Therefore, the above-mentioned factors are likely to augment chitosan demand in Asia Pacific, which will have subsequent impact on poliglusam market size in the forecast timeframe.
Key market share contributors are Panvo Organics, KitoZyme, GTC Bio Corporation, FMC Health & Nutrition, Golden Shell Pharmaceutical, Marshal Marine, Primex, among others. Some of these companies are investing to form strategic alliances to generate higher gains and attain higher market presence in the market.
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Table of Contents (ToC) of the report:
Chapter 5. Chitosan Market, By End-user
5.1. Chitosan market share by end-user, 2017 & 2024
5.2. Water treatment
5.2.1. Market estimates and forecast, 2013 – 2024
5.2.2. Market estimates and forecast by region, 2013 – 2024
5.3. Cosmetic & toiletries
5.3.1. Market estimates and forecast, 2013 – 2024
5.3.2. Market estimates and forecast by region, 2013 – 2024
5.4. Food & beverage
5.4.1. Market estimates and forecast, 2013 – 2024
5.4.2. Market estimates and forecast by region, 2013 – 2024
5.5. Healthcare/Medical
5.5.1. Market estimates and forecast, 2013 – 2024
5.5.2. Market estimates and forecast by region, 2013 – 2024
5.6. Agrochemical
5.6.1. Market estimates and forecast, 2013 – 2024
5.6.2. Market estimates and forecast by region, 2013 – 2024
5.7. Biotechnology
5.7.1. Market estimates and forecast, 2013 – 2024
5.7.2. Market estimates and forecast by region, 2013 – 2024
5.8. Others
5.8.1. Market estimates and forecast, 2013 – 2024
5.8.2. Market estimates and forecast by region, 2013 – 2024
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