Chitosan Market worth USD 5.02 Billion by 2022 at a CAGR of 18.02% from 2016 to 2022
Chitosan Market Information by Source (Shrimp, Squid, Crab, and Krill), by Application (Agriculture, Food Industry, Pharmaceuticals and others) and by Region – Forecast to 2022
Pune, India – May 10, 2017 /MarketersMedia/ —
Market Highlights
Global Chitosan Market size is expected to reach USD 5.02 billion by 2022, registering a CAGR of 18.02% from 2016 to 2022. Chitosan is the deacetylated form of chitin, a biopolymer extracted from the shells of crustaceans such as shrimp, crabs, and others. This shell waste is characterized with high amount of chitin that is further processed to produce chitosan, glucosamine, and other derivatives. The shell waste containing chitin is treated with specific alkalis and acids under optimal reaction conditions. After undergoing successive demineralization and deproteinization, chitin is obtained that is further deacetylated to produce chitosan. Apart from crustacean shell waste, chitosan can also be produced from certain fungi. However, low amount of chitin in the cell walls of fungi and the absence of an optimal procedure for extraction of chitin on a commercial scale makes it a less used source for obtaining chitosan.
Market Drivers:
The factors driving the chitosan market are the ample amount of raw material available and emerging applications from various end use segments. On the other hand R&D activities focused on finding novel applications of chitosan as well as developing the existing technology is also expected to contribute towards the growth of chitosan market during the analysis period. However, the production cost of chitosan and its derivatives are estimated to be quiet high and its product availability are irregular due to seasonal, regional, and chemical modification could hamper the market growth.
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Key Players:
The key players of Chitosan market report includes Heppe Medical Chitosan GmbH (Germany), Advanced Biopolymers AS (Norway), G.T.C. Bio Corporation (China), Novamatrix (Norway), Agratech International, Inc. (U.S.), Golden-Shell Pharmaceutical Co. Ltd. (China), Qingdao Yunzhou Biochemistry Co. Ltd. (China), Panvo Organics Pvt Ltd. (India), Kitozyme S.A. (Belgium), Primex ehf (Iceland) and others.
Scope of Report:
The global chitosan market report focuses on chitosan and its major applications including, water treatment, food & beverage, cosmetics, biomedical & pharmaceuticals, bioprinting & agriculture, and others. Furthermore, the report includes market segmentation based on sources of chitosan such as shrimp, crab, krill, and squid.
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Regional Analysis
“Asia-Pacific is projected to be the largest market during the forecast period”
Geographically, Asia-Pacific is expected to be the largest market for Chitosan accounting more than one third of the total market. This share is contributed more towards growth of emerging economies, inexpensive labor cost in APAC and economical material used for production process.
Globally, chitosan market was valued at USD 2.05 billion in 2015 and is likely to reach USD 5.02 billion in 2022, expanding at CAGR of 18.02% between 2015 and 2022. Asia pacific region was he leading chitosan market with an estimated market size of 8050 MT in 2011 and is projected 15010 MT in 2015. The U.S. has represented the second largest market in 2015 and is expected to reach in billions by 2022.
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Scope of the study
The scope of the study categorizes the Chitosan market as type, and application.
• By Type
o Shrimp
o Squid
o Crab
o Krill
• By Application
o Agriculture
o Food industry
o Pharmaceuticals
o Others
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