Chitosan Market Size, Share, CAGR & Forecast Report for 2022-2031

 

The global chitosan market is growing at a steady pace owing to the increasing application of chitosan in the treatment of cancer, diabetes, and tuberculosis. As per a study by Future Market Insights (FMI), the market has registered a CAGR of over 12.1% during 2016-2020 and is likely to exhibit a CAGR of over 14.3% during the forecast period 2021 to 2031.

According to the World Health Organization (WHO), around 10 million new cases of tuberculosis were recorded in 2019 and over 1.4 million people died because of the disease across the globe. Several studies have shown that the use of chitosan-based products assists in the cure of tuberculosis. Considering this, the demand for chitosan is expected to grow in the coming years.

Ask For Comprehensive Report Sample@
https://www.futuremarketinsights.com/reports/sample/rep-gb-11443

Chitosan helps in the treatment of obesity and weight management resulting in increasing demand from the dietary supplements segment. The segment is dominating the chitosan market and is expected to account for over 35% of the market share by 2021 resulting in propelling the growth of chitosan market.

Asia-Pacific dominated the global chitosan market with the largest market share in 2019, owing to the availability of crustacean waste and the rapid development of end-use industries in China, Japan, South Korea, and India.

“Leading market players are investing in R&D for launching new products to cater to the increasing demand from dietary supplement and organic cosmetic application segment. Besides this, some of the market players are emphasizing on expanding their manufacturing facilities globally to strengthen their market presence,” says the FMI analyst. 

Key Takeaways

  • Japan is leading the global chitosan market and is estimated to reach a valuation of over US$ 1.09 billion by the year 2031.
  • The U.S. is dominating the chitosan market in North America and is anticipated to hold over 80% of the market share in the region.
  • Owing to the surging demand for natural ingredients in personal care and cosmetics products, Germany is likely to account for over 21% of the market share in Europe.
  • Due to the high consumption of natural dietary supplements, India is projected to hold the market share of around 45% in the South Asia market through 2021.
  • Based on form, the powder chitosan is anticipated to dominate the segment with around 88% of the global chitosan market in 2021.

Key Drivers

  • Increasing prevalence of infectious diseases is expected to boost the demand for chitosan-based products.
  • Growing food additives application is spurring the growth of the chitosan market.
  • Rising demand for organic personal care and cosmetics products will bolster the growth of the market.
  • Increasing incidence of obesity and overweight will create growth opportunities for the market.

Ask your Questions to an Analyst@
https://www.futuremarketinsights.com/ask-question/rep-gb-11443

Key Restraints

  • High production cost is restraining the growth of the chitosan market.
  • The lengthy and time-consuming process for manufacturing chitosan might hamper the market growth.
  • Lack of raw material is a factor negatively affecting the growth of the chitosan market.

Competitive Landscape

Companies operating in the chitosan market are focusing on expanding their product portfolio by developing a wide range of chitosan-based products according to the application of the end-use industries. For instance,

  • Axio Biosolutions launched its new product named, MaxioCel, a next-generation wound care dressing chitosan-based product in 2019.
  • Friesland foods kievit, a Germany-based company, has created a new encapsulating technology to increasing the use of chitosan as a natural product. Friesland foods kievit has established a distinct business organization named, Kievit Ventures.

Leading players profiled by FMI operating in chitosan market include:

  • Agratech (KYTOSAN USA, LLC)
  • Austanz Chitin Pty Ltd.
  • CarboMer, Inc.
  • Golden-Shell Pharamceuticals Co. Ltd
  • Heppe Medical Chitosan GmbH
  • KIMICA Corporation
  • Kitozyme, LLC
  • Kraeber & Co. GmbH
  • Meron Group
  • Qingdao Haijia Biology and Technology Co. Ltd
  • Tidal Vision Inc.
  • Chitolytic
  • Marshall Marine Products
  • Zhejiang Aoxing Biotechnology Co. Ltd.

More Insights on FMI’s Chitosan Market

The latest market study on global chitosan market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented

  • By Form:
    • Liquid
    • Powder
  • By Source:
    • Shrimp
    • Crab
    • Lobster
  • By End Use:
    • Food Additive
    • Dietary Supplements
      • Crohn’s Disease
      • Dental Cavities
      • Anemia
      • Periodontists
      • Weight Loss
      • Sports Nutrition
      • Immune & Digestive Health
      • Bone & Joint Health
      • Heart Health
      • Other Specific Requirements
    • Pharmaceuticals
    • Cosmetics
      • Hair Care
      • Nail Care
      • Skin Care
      • Toiletries
      • Spa
  • By Region:
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia
    • Oceania
    • Middle East and Africa (MEA)

Comments

Post a Comment

Popular posts from this blog

Online Grocery Market Share, Development by Companies Future Investments and Key Opportunities by 2032

  The online grocery market has experienced tremendous India online grocery market growth over the past few months as a result of changing consumer lifestyles, increasing urbanization, and the tech-savvy generation that favours online shopping. The India online grocery market size has been estimated at USD 4,540.0 Million in 2022 and is projected to grow at a CAGR of 32.7% from 2022 to 2032, reaching USD 76,761.0 Million by that time which surges the India online grocery market key trends and opportunities. For more Information, Download Report Sample@ https://www.futuremarketinsights.com/reports/sample/rep-gb-15211 KEY TAKEAWAYS: Through 2032, the others segment of the India online grocery market share, which falls under the product type category, is anticipated to grow at a CAGR of 35.8%. The fresh produce segment of the India online grocery market size, which falls under the product type category, is anticipated to grow at a CAGR ...
Read more

Global Glucosamine Market by System Type, Revenue Analysis, By Region, Industry Analysis and Forecast, 2022-2027

Glucosamine is a naturally occurring compound within the cartilage of joints, it is made from chains of sugars and proteins bound together. Glucosamine is derived from shellfish that has been found to provide relief from minor pain. This naturally derived compound helps in formation of cartilage and synovial fluid which helps in maintaining joint health. Glucosamine is primarily used to ease symptoms of osteoarthritis, it can be taken by natural food supplements such as bone broth or glucosamine supplements available in the market in numerous formulations. Apart from its therapeutic use glucosamine is also used in cosmetic products, as it supports formation of connective tissue and helps increasing moisture and promotes exfoliation and hydration. These fundamental properties of glucosamine have encouraged the manufacturers to introduce new products and thus leading to overall growth of glucosamine market. Glucosamine Market Segmentation: Glucosamine is segmented on the basis of ...
Read more

Palm Oil & Mid-Fraction Market Analysis of Key Findings, and New Market Opportunities Explored by 2022-2032

  Palm Oil & mid-fraction is a preferred derivative over other palm oil co-products due to its functionality to yield higher shelf-life stability in the end-use products. It is generally fractionated to separate its content (mainly containing stearin and olein) through fractionation. When these phases are given a double-fractionation treatment, it gives to rise to palm mid-fraction. Palm oil & mid fraction is rich in content such as tocopherol and carotene and is used mainly in the production of edible fats and butter substitutes. Palm-oil manufactured for industrial processes are used in various forms of derivatives. Along with shelf life stability, the Palm oil & mid fraction also yields a good texture and volume in the bakery fat applications. The major processing of palm mid-fraction takes place mainly in South East Asian countries- Malaysia and Indonesia, from where it is exported to the rest of regions. Palm mid-fraction happens to be a primer in the pro...
Read more