Chitosan is a polysaccharide derivative of chitin that is obtained from the shells of marine animals such as shrimps, lobsters, crabs, and others. Chitin extracted from crustacean shell waste is further processed and treated with acids and alkalis to obtain chitosan. According to the Food and Agriculture Organization (FAOSTAT), Europe produces around 750,000 tons of crustacean shell waste every year. This waste disposal in the developed countries is highly expensive, for instance, it costs around $150 per ton in Australia.
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In addition, the waste is high in proteins and chitin. However, as chitin is the second most beneficial polysaccharide found in nature, other than cellulose, it makes the waste highly valuable. Chitosan is used in a variety of applications such as in agriculture as a bio-pesticide & plant growth promoter, for water treatment, and in the biomedical sector for blood clotting & weight loss. Several researches have estimated potential applications of chitosan in polyurethane paints & coatings, bioprinting of organs, and as a food preservation material.
Key Players:
Advanced Biopolymers AS,Heppe Medical Chitosan GmbH,G.T.C. Bio Corporation,Primex ehf,Kitozyme S.A.,Novamatrix,Agratech International, Inc.,Golden-Shell Pharmaceutical Co. Ltd.,Qingdao Yunzhou Biochemistry Co. Ltd.,Panvo Organics Pvt Ltd.
The world chitosan market is derived by factors such as the growing waste from the seafood industry, the increasing applications of chitosan, and support from the government towards waste utilization. The shell waste is processed into chitin and other high value products. In addition, the surge in demand of bio-based cosmetic products is also expected to propel the market growth during the forecast period. However, the high cost of production may hamper the market growth. The R&D for exploring further applications and uses of chitosan has created a significant growth opportunity for the industry players.
The chitosan market is segmented based on the source, applications, and geography. On the basis of source, the market is subsegmented into shrimp, crab, krill, and squid. Based on application, the market includes water treatment, biomedical & pharmaceuticals, cosmetics, food & beverage, and others. Geographically, the market is analyzed acorss North America, Europe, Asia-Pacific, and LAMEA. The report also includes the country level analysis of each geographic region.
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The study conducts SWOT analysis to assess the strengths and weaknesses of the key players engaged in the Chitosan market. Moreover, the report undertakes an elaborate examination of drivers and constraints operating in the market. The report also evaluated the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Chitosan market segments and regions.
Competitive scenario:
The study assesses factors such as segmentation, description, and applications of Chitosan industries. It derives accurate insights to give a holistic view of the dynamic features of the business, including shares, profit generation, thereby directing focus on the critical aspects of the business.
Major highlights of the report:
- An all-inclusive evaluation of the parent market
- The evolution of significant market aspects
- Industry-wide investigation of market segments
- Assessment of the market value and volume in the past, present, and forecast years
- Market share evaluation
- Study of niche industrial sectors
- Tactical approaches of the market leaders
- Lucrative strategies to help companies strengthen their position in the market.
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