Know More About “Chitosan Market 2020-2027” Growth Worldwide…..

Posted by Mrudula Anil Karmarkar on January 24th, 2022

The global chitosan market size is projected to reach USD 28.93 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a revenue-based CAGR of 24.7% during the forecast period. Increasing consumption of bio-derived products in water treatment, cosmetics, food and beverage, and pharmaceutical industries is likely to derive the growth.

Chitosan is marketed under various grades, such as industrial, pharmaceutical, and food depending upon the purity of the product. In the pharmaceutical industry, it is used as diluents for tablets, a binder in wet granulations, dis-integrant, drug carrier, and absorption enhancer. In addition, chitosan and its derivatives can easily penetrate the plasmatic membrane of microorganisms and kill bacteria, fungi, and other parasites. Hence, is used for treating infections in orthopedic, neurological, gynecological, and cardiovascular surgical procedures.

The market is highly fragmented in nature owing to the presence of a large number of small-scale players, especially in countries including Japan, China, Thailand, and South Korea. These countries have favorable government regulations to promote growth of their fishery industry. Hence, several companies such as Qingdao Yunzhou Biochemistry Co., Kyowa Technos Co., Ltd., Dainichiseika Color & Chemicals Mfg. Co. Ltd., and KIMICA Corporation have manufacturing as well as distribution channels present in the region.

Chitosan from chitin can be achieved through both biological and chemical method. Chemical deacetylation is the most common commercial technique used for the manufacturing of chitosan. Chitosan manufacturing is a simple process and there is no standard method available for the purification of the product.

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Chitosan is an amino polysaccharide polymer commercially produced from the shells of crab, lobster, shrimp, and crayfish. It is made through chemical or enzymatic deacetylation of chitin shells or exoskeletons of insects, crustaceans, and the cell walls of fungi with an alkaline substance such as sodium hydroxide. Each raw material for the product has different chitosan content hence play an important role in commercial manufacturing. Shrimp is considered to be the major source for chitosan since it contains about 25% to 40% chitin, whereas, the crab shell contains approximately 15% to 20%. Rising product demand from the cosmetics industry and increasing scope of product application in waste-water treatment is also anticipated to boost the market growth. Moreover, the elimination of stringent regulations that restricted the establishment of new manufacturing units by the Government of Mexico has resulted in the development of new and large-scale pharmaceutical manufacturing facilities in the region.

Further key findings from the report suggest:

• In terms of revenue, chitosan is anticipated to expand at a CAGR of 24.7% from 2020 to 2027, since they are used in large quantities in the production of antiseptics, food items, cosmeticts, medicines, textiles, and other consumer products
• The U.S. chitosan market is anticipated to exceed 36.98 kilo tons by 2027, owing to the abundant availability of raw material, which has further flourished the industrialization in the country
• Some of the key market participants are Panvo Organics Pvt. Ltd.; Qingdao Yunzhou Biochemistry Co.; Meron Biopolymers; Advanced Biopolymers AS; Biophrame Technologies; Heppe Medical Chitosan GmbH; United Chitotechnologies Inc.; Foodchem International Corporation; KitoZyme S.A.; and Chitosanlab

The major business players in the industry invest in cost-effective and safer production methodologies. Market leaders are also trying to expand their product portfolio by focusing on developing a wide range of chitosan products, based on their purity levels, which can be suitable according to applications of end-use industries. The majority of key companies are located near the coastal areas across the world, in order to get easy access to the raw materials.

Chitosan industry has numerous small players, especially in regions such as Japan and China. Initially, the market was dominated by Japanese firms owing to the presence of key manufacturers such as Kyowa Technos Co., Ltd., Dainichiseika Color & Chemicals Mfg. Co. Ltd., and KIMICA Corporation. Later several other multinational companies including Biophrame Technologies, Heppe Medical Chitosan GmbH, Meron Biopolymers, Qingdao Yunzhou Biochemistry Co., Golden-Shell Pharmaceutical Co. Ltd, and FMC Corp. started the production on a commercial scale.