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2020

Chitosan Market

Chitosan Market Size, Share, Competitive Landscape and Trend Analysis Report by Source and Application : Global Opportunity Analysis and Industry Forecast, 2020-2027

MC : Advanced Materials

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Author's: Pratik Mandon | Eswara Prasad
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Chitosan Market Outlook - 2027

The global chitosan market size was valued at $1.7 billion in 2019, and is projected to reach $4.7 billion by 2027, growing at a CAGR of 14.5% from 2020 to 2027.

Report Key Highlighters:

  • The Chitosan market study covers 20 countries. The research includes a segment analysis of each country in terms of both value ($million) and volume (tons) for the projected period 2020-2027.
  • The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.
  • Over 3,700 product literature, annual reports, industry statements, and other comparable materials from major industry participants were reviewed to gain a better understanding of the market.
  • The Chitosan market is highly fragmented, with several players including Advanced Biopolymers AS (Norway), Heppe Medical Chitosan GmbH (Germany), G.T.C. Bio Corporation (China), Primex ehf (Iceland), Kitozyme S.A. (Belgium), Novamatrix (Norway), Agratech International, Inc. (U.S.), Golden-Shell Pharmaceutical Co. Ltd. (China), Qingdao Yunzhou Biochemistry Co. Ltd. (China), and Panvo Organics Private Ltd. Also tracked key strategies such as acquisitions, product launches, mergers, expansion etc. of the players operating in the Chitosan market.

Chitosan is a polysaccharide derivative of chitin obtained from shells of marine animals such as shrimps, lobsters, crabs, and others. Commercial chitosan is produced through deacetylation of chitin that is extracted from crustacean shell waste. Chitosan restricts lipid absorption in gastrointestinal tract; thus, it is widely used in dietary supplements. Due to biocompatibility and biodegradability properties it is widely used in healthcare application. The anticoagulant properties of chitosan makes it suitable for hemostatic dressing to treat wounds. In addition, it is also used as a bio pesticide in the agriculture to restrict pathogenic impacts on trees & plant growth promoter and for water treatment.

Furthermore, it is also used in polyurethane paints & coatings, bio printing of organs, and as a food preservative.

Chitosan-Market-2020-2027

The global chitosan market is driven by the growth in waste from the seafood industry, increase in applications of chitosan, and support from the government toward waste utilization. The shell waste is processed into chitin and other high-value products. Chitosan extracted from crustaceans such as crabs, shrimp, and lobster is widely applicable in reducing body weight due to its lipid absorption property. Furthermore, growing application of Chitofelx in hemostatic dressing due to its anticoagulant properties is expected to drive the market growth.  Chitosan has gained popularity as a functional food ingredient due to its potential health benefits. It has cholesterol-lowering properties, aids in weight management, and possesses antimicrobial and antioxidant properties. The increasing consumer awareness and demand for health-enhancing products contribute to the growth of chitosan in the functional food and nutraceutical industriesIn addition, rise in demand for bio-based cosmetic products is also expected to propel the market growth during the forecast period. the production of chitosan involves complex extraction processes from crustacean shells, such as shrimp and crab. These processes require specialized equipment and labor-intensive techniques, making the production costs relatively high. The cost factor can limit the affordability and scalability of chitosan products, especially in price-sensitive markets. Chitosan is derived from chitin, which is primarily sourced from crustacean shells. The availability of crustacean waste for chitosan production depends on the seafood processing industry and its byproduct generation. Fluctuations in seafood production and processing can impact the availability and consistency of chitin as a raw material, thereby affecting the chitosan market. The high production cost and limited raw material availability may hinder the growth of chitosan market over the forecast period. However, high cost of bulk production for water treatment may hamper this market growth. Nonetheless, rise in number of new sources for commercial chitosan such as fungi, snail, and other molluscs may replace the conventional sources such as crab, shrimp in case of shortage for marine waste. Easy availably of fungi waste in agriculture and artificial production of fungi through cheap nutrients by simple chemical procedures may create lucrative opportunities for the chitosan market growth.

Various Chitosan Market opportunities to grow significantly in near future

Nonetheless, the rise in number of new sources for commercial chitosan such as fungi, snail, and other molluscs may replace the conventional sources such as crab, shrimp in case of shortage for marine waste. Easy availably of fungi waste in agriculture and artificial production of fungi through cheap nutrients by simple chemical procedures may create lucrative opportunities for market growth. Ongoing research and technological advancements in chitosan processing, purification, and modification techniques have improved its functional properties, making it more suitable for diverse applications. These advancements contribute to expanding the market potential of Chitosan and open up new opportunities for its use in various industries. Governments and regulatory bodies worldwide are focusing on promoting sustainable and eco-friendly solutions. Supportive policies, incentives, and regulations that encourage the use of natural and renewable materials like chitosan drive the market by creating a favorable business environment and increasing awareness among industry players.

With a growing emphasis on sustainability and environmental consciousness, there is an increasing demand for natural and eco-friendly products across various industries. Chitosan, being derived from renewable sources, aligns well with this trend. The market has an opportunity to cater to the rising demand for sustainable alternatives in industries such as packaging, textiles, cosmetics, and personal care products.

Chitosan possesses unique properties that make it suitable for drug delivery applications. Ongoing research and development efforts in this field are focused on enhancing the efficiency and effectiveness of chitosan-based drug delivery systems. The market has the potential to capitalize on the opportunities presented by advancements in drug delivery technology and the growing demand for targeted and controlled-release pharmaceutical products.

Collaboration with research institutions, universities, and government agencies can provide opportunities for the Chitosan market to accelerate innovation and develop new applications. Governments often support research and development in sustainable materials and promote the adoption of natural alternatives. Collaborative efforts can lead to the development of new Chitosan-based products and technologies, as well as the establishment of favorable policies and regulations that support market growth.

Consumer awareness regarding the link between diet and health is growing. There is a rising demand for functional foods and nutraceuticals that offer health benefits beyond basic nutrition. Chitosan, with its potential cholesterol-lowering, weight management, and antioxidant properties, can be incorporated into functional food and nutraceutical products. The market has an opportunity to meet the consumer demand for healthy and functional food ingredients by offering chitosan-based solutions.

By capitalizing on these opportunities, the chitosan market can expand its presence, diversify its applications, and tap into new industries and consumer segments. Continued research, product development, and collaboration are key to unlocking the full potential of chitosan and maximizing these opportunities.

The chitosan market is segmented on the basis of source, application, and region. On the basis of source, it is divided into shrimp, crab, krill, squid, and others. Based on application, it is categorized into water treatment, biomedical & pharmaceuticals, cosmetics, food & beverages, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA, with country level analysis of each region.

Major players have adopted product launch, business expansion to sustain the intense market competition. The key players profiled in the report include Advanced Biopolymers AS (Norway), Heppe Medical Chitosan GmbH (Germany), G.T.C. Bio Corporation (China), Primex ehf (Iceland), Kitozyme S.A. (Belgium), Novamatrix (Norway), Agratech International, Inc. (U.S.), Golden-Shell Pharmaceutical Co. Ltd. (China), Qingdao Yunzhou Biochemistry Co. Ltd. (China), and Panvo Organics Private Ltd.

Impact Of Covid-19 On The Global Chitosan Market

  • The pandemic and associated lockdown measures caused disruptions in global supply chains, including the seafood processing industry, which is a major source of chitosan raw materials. Restrictions on fishing activities, reduced workforce, and logistical challenges led to a decrease in the availability of crustacean waste, impacting chitosan production and supply.
  • The pandemic led to an increased demand for medical and sanitary products. Chitosan, with its antimicrobial and wound-healing properties, found applications in personal protective equipment (PPE), wound dressings, and sanitizing solutions. The demand for chitosan-based products in the medical and healthcare sectors witnessed growth during the pandemic.
  • The pandemic highlighted the importance of health, hygiene, and sustainability. Chitosan, being a natural and sustainable material, gained increased attention as a potential solution in various applications. The market had an opportunity to leverage this increased focus on health and sustainability to promote chitosan-based products in different industries.
  • Overall, the impact of COVID-19 on the chitosan market was a mixed bag. While it faced challenges such as supply chain disruptions and reduced demand in certain industries, it also experienced increased demand in medical and sanitary applications. The long-term effects of the pandemic on the chitosan market will depend on factors such as the recovery of the global economy, ongoing research and development activities, and the sustained focus on health and sustainability.

Global Chitosan Market, By Region

Asia-Pacific accounted for the highest chitosan market share, owing to easy availability of crustacean waste in coastal areas. Moreover, crustaceans are produced and consumed in China, Japan, and Thailand in large quantities, which makes crustacean shell waste readily available in this region. North America is expected to witness significant growth, owing to increase in adoption of chitosan-based biomedical and pharmaceutical products, including bandages and weight loss supplements

Chitosan Market
By Region
2027
Asia-pacific 
North America
Europe
Europe
LAMEA

Asia-Pacific exhibits CAGR of 15.3% during 2020-2027

Global Chitosan Market, By Source

The shrimp chitosan segment accounted for the highest revenue share in 2019, owing to the large demand of shrimp chitosan for water treatment and in food and beverages industry. Chitosan originated from shrimp cell is biocompatible and biodegradable as well as nontoxic unlike other chemical products. Furthermore, easy availability of shrimps reduces the manufacturing cost of Chitosan; thus, making it widely available that will enhance the market growth. The crabs chitosan segment is expected to witness highest market growth due to growing utilization of crab waste in plantation to maintain soil biodiversity. According to industry experts, the application of Chitosan in plants can further simulate plant growth providing better outcome than non-treated plants. For instance, according to a report by International Journal of Current Microbiology and Applied Sciences, the average height for 70% chitosan and 30% non-treated plants were 27.8 and 21.7 cm, respectively

Chitosan Market
By Source
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Crabs chitosan is projected as the most lucrative segment

Global Chitosan Market, By Application

The water treatment segment accounted for the highest revenue share in 2019, owing to growing application of chitosan as coagulant in waste water treatment processes due to its biodegradable nature and effectiveness in removing toxic materials. Chitosan, being a biomaterial, is the preferred choice for water treatment plants across the globe due to high purity percentage compared to conventional water treatment methods, such as sand filtration. The food & beverages segment is expected to witness steady growth due to growing demand for chitosan to improve the quality and shelf life of food products of agriculture, poultry, and marine origin.

Chitosan Market
By Application
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Water Treatment is projected as the most lucrative segment

Key Benefits For Stakeholders

  • The global chitosan market analysis covers in-depth information of major industry participants.
  • Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • Major countries have been mapped according to their individual revenue contribution to the regional market.
  • The report provides an in-depth analysis of the global chitosan market forecast for the period 2020–2027.
  • The report outlines the current chitosan market trends and future estimations of the market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets. 
  • The key drivers, restraints, and chitosan market opportunity and their detailed impact analysis is elucidated in the study.

Chitosan Market Report Highlights

Aspects Details
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By SOURCE
  • Shrimp
  • Squid
  • Crab
  • Krill
  • Others
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By APPLICATION
  • Water treatment
  • Biomedical & Pharmaceutical
  • Cosmetics
  • Food and Beverage
  • Others
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By Region
  • North America  (U.S, Canada, Mexico)
  • Europe  (Germany, UK, France, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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Key Market Players

PANVO ORGANICS PVT LTD, AGRATECH INTERNATIONAL, INC, ADVANCED BIOPOLYMERS AS, PRIMEX EHF, KITOZYME S.A, GOLDEN-SHELL PHARMACEUTICAL CO. LTD, NOVAMATRIX, Qingdao Yunzhou Biochemistry Co., Ltd, HEPPE MEDICAL CHITOSAN GMBH, G.T.C. BIO CORPORATION

Analyst Review

The global chitosan market is anticipated to grow at a significant rate during the forecast period. According to the perspectives of CXOs of leading companies, abundant raw material availability and emerging applications of chitosan, especially in biomedical & pharmaceuticals and water treatment, are projected to drive the market growth during the forecast period. However, product inconsistency and high product cost of chitosan may restrain the market growth. Furthermore, the use of chitosan as a bioplastic and nanomaterial creates several growth opportunities for present as well as other companies willing to enter the chitosan market. Nonetheless, application of metabolic engineering in enhanced production of commercial chitosan from micro-organism such as fungi may compete with the existing sources; thus, attracting new customer segments.

Author Name(s) : Pratik Mandon | Eswara Prasad
Frequently Asked Questions?

Market value of chitosan market was $1.7 billion in 2019.

The market CAGR value of chitosan market is 14.5% during the forecast period

Shrimp chitosan holds the maximum share of the chitosan market.

Growth of chitosan market in 2027 will be 18.0%.

Chitosan market is in expansion phase. Abundant raw material availability and emerging applications of chitosan, especially in biomedical & pharmaceuticals and water treatment, are projected to drive the market growth during the forecast period

Abundant raw material availability, Growing awareness towards the advantages of chitin, chitosan, emerging applications from end-use industries and high production cost are the chitosan market effecting factors.

Crabs chitosan segment is the most influencing segment in the chitosan market report.

Asia-pacific will provide more business opportunities for chitosan market in coming years.

Food and beverage industries, cosmetics, biomedical and pharmaceutical are the potential customers of chitosan industry.

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Chitosan Market

Global Opportunity Analysis and Industry Forecast, 2020-2027