Global Chitin and Chitin Derivatives Market Set to Grow at Healthy CAGR of 15.8

Posted by swamiv on November 19th, 2019

Global Chitin and Chitin Derivatives Market, By Derivative Type (Glucosamine, Chitosan, Others) By End Use Industry (Food and Beverages, Agrochemical, Healthcare, Cosmetics and Toiletries, Waste and Water Treatment, Others)

Market Analysis: Global Chitin and Chitin Derivatives Market

The Global Chitin and Chitin Derivatives Market accounted for USD 2.3 billion in 2017 and is projected to grow at a CAGR of 15.8% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2015, 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

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Market Definition: Global Chitin and Chitin Derivatives Market

Chitin is obtained from shrimp, crab and lobster waste. Chitin has wide range of application in food and beverages, agrochemical industry, healthcare industry among others.

Major Market Drivers:

•          Waste and water treatment to offer significant growth opportunities for chitin market in the coming years
•          Increasing need of chitin in biomedical and biopharmaceutical industry.
•          Easy raw material availability

Market Restraint:                                                                    

•          As it is derived from natural resources such as crabs, extinction of the species may raise environmental concerns.

 Market Segmentation: Global Chitin and Chitin Derivatives Market

•          The Global Chitin and Chitin Derivatives Market is segmented on the basis of Derivative Type into Glucosamine, Chitosan, Others
•          On the basis of end user, the market is segmented into Food and Beverages, Agrochemical, Healthcare, Cosmetics and Toiletries, Waste and Water Treatment, Others
•          On the basis of geography, the Global Chitin and Chitin Derivatives Market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.

Competitive Landscape: Global Chitin and Chitin Derivatives Market

The Global Chitin and Chitin Derivatives Market are fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

Major Market Competitors: Global Chitin and Chitin Derivatives Market

Some of the major players in Global Chitin and Chitin Derivatives Market 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, GTC Bio Corporation, Panvo Organics Pvt., Ltd., KitoZyme S.A., and Xianju Tengwang Chitosan Factory, Golden-Shell Pharmaceutical Co., PT Biotech Surindo, TaizhouCandorly Sea Biochemical & Health Products Co. Lt , Heppe Medical Chitosan GmbH, Sonat Co, Kunpoong Bio Co. Ltd.,  and many more.

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