The global chitosan market is expected to reach USD 17.84
billion by 2025, according to a new report by Grand View Research, Inc.
Chitosan market demand is primarily driven by factors including raw material
availability, price, and product quality. Rising application scope of the
product as an eco-friendly compound in waste water treatment, textile and
agrochemical industry is expected to propel demand over the projected period.
Chitosan is a one of the most abundantly available
biopolymers and is primarily obtained from shrimp shell waste disposed of by
the fishery industry. As a result, integration with fishery industries in order
to source raw material is the key factor promoting growth. In addition,
abundant availability coupled with low cost of the raw materials is expected to
propel demand.
The market was initially dominated by Japanese companies
over the past few years. However, other Asian countries including China and
India are expected to witness significant growth owing to increasing number of
new market players.
The majority of the compound produced lacked purity, which
is essential primarily in the pharmaceutical and medical industry, which is
expected to hamper growth over the forecast period. In addition, low production
volumes and high product cost associated with high purity chitosan are expected
to compel manufacturers for product innovation and capacity expansion.
Browse full research report on http://www.grandviewresearch.com/industry-analysis/global-chitosan-market:
Further key findings from the report suggest:
- Water
treatment is expected to grow at a CAGR over 17% from 2016 to 2025, owing
to its high demand for removal of metals and chemicals from wastewater
including pesticides, surfactants, phenol and polychlorinated biphenyls
- The
demand for the compound in food & beverage application in Europe was
valued over 290 Million in 2015 and is expected to grow at significant
rate owing to rising demand for wine processing industry
- In
North America, cosmetics was the largest application segment for the
product with the market value over USD 1.42 billion in 2015 and is likely
to grow owing to the rising demand for bio-derived personal care products
- Key
players in the industry include Yunzhou Biochemistry Co., Advanced
Biopolymers AS, Biophrame Technologies, United Chitotechnologies Inc.,
Koyo World (Hong Kong) Co. Ltd., Dainichiseika Color & Chemicals Mfg.
Co. Ltd., Agratech LLC., Kraeber& Co. GmbH, Foodchem International
Corporation, and FMC Corporation
Grand View Research has segmented the chitosan market on the
basis of application and region:
- Chitosan
Market Application Outlook (Volume, Tons; Revenue, USD Million, 2013 -
2025)
- Water
Treatment
- Pharmaceutical
& biomedical
- Cosmetics
- Food
& beverage
- Others
- Chitosan
Market Regional Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2025)
- North
America
- Europe
- Japan
- Asia
Pacific
- Rest
of the World
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
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