Chitosan Market Size
The Global Chitosan Market reached USD 9.8 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 29.3 billion by 2031. The global chitosan market is expected to exhibit a CAGR of 15.2% during the forecast period 2024-2031. The chitosan market is experiencing significant growth due to its wide range of applications across various industries.
Chitosan, derived from chitin, is a biodegradable and biocompatible polymer with antimicrobial and wound-healing properties. It finds applications in pharmaceuticals, agriculture, food and beverage, cosmetics, and water treatment. The market is witnessing advancements in chitosan production methods, improving product quality and cost-effectiveness.
The Global Chitosan Market is driven by growing demand for eco-friendly and sustainable products, a wide range of applications, increasing focus on healthcare and pharmaceuticals, rising awareness about water treatment, increasing demand from the cosmetic industry, and technological advancements.
Market Summary
| Metrics | Details |
| CAGR | 15.2% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Grade and Application |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Infection Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Growing Demand for Eco-Friendly and Sustainable Products Drive the Growth of the Chitosan Market
Consumers increasingly seek environmentally friendly alternatives in various industries, including pharmaceuticals, agriculture, and cosmetics. Chitosan, derived from renewable marine resources and possessing biodegradable properties, aligns well with these sustainability goals and drives the market growth.
Chitosan is a natural biodegradable polymer, meaning it can be broken down by natural processes without causing harm to the environment. This characteristic makes it an attractive alternative to synthetic materials that may persist in the environment for extended periods.
For instance, in September 2022, Researchers from the University of Maryland's Center for Materials Innovation developed a new zinc battery with an electrolyte extracted from a crab shell. The electrolyte is made from chitosan, a chemical derivative of Chitin found abundantly in crab shells. Since chitosan is biodegradable, two third of the battery will be degraded naturally without leaving any harmful products.
Increasing Demand From the Cosmetic Industry Also Drives the Growth of the Chitosan Market
Chitosan offers several beneficial properties that make it attractive for use in cosmetic and personal care products. Chitosan forms a thin film on the skin, providing a protective barrier that helps retain moisture and improve skin hydration. This property makes it valuable in moisturizers, lotions, and creams, catering to the growing demand for products that promote skin hydration and health.
Chitosan has been found to stimulate collagen production and improve skin elasticity, which is essential for combating signs of aging. Its inclusion in anti-aging creams, serums, and masks has gained popularity as consumers seek effective and natural solutions for youthful-looking skin. As the demand for natural and sustainable cosmetic products continues to rise, the industry's demand for chitosan is expected to grow.
For instance, according to an article, by the National Library of Medicine published in February 2023 described that chitosan has attracted significant academic interest, as well as the attention of the cosmetic industry, due to its interesting properties, which include being a natural humectant and moisturizer for the skin and a rheology modifier.
High Production Costs will hamper the growth of the Chitosan Market.
The cost of chitosan production encompasses various factors, including raw material sourcing, extraction methods, purification processes, and quality control measures. The extraction and purification processes in chitosan production can be costly, impacting its affordability and market competitiveness. The high production costs may limit its adoption, especially in price-sensitive industries.
The higher the production costs, the narrower the profit margins for chitosan manufacturers and suppliers. This can make it challenging for businesses to remain competitive, especially when faced with lower-cost alternatives.
Market Segment Analysis
The Global Chitosan Market is segmented based on grade, application, and region.
The Water Treatment Segment Accounted for Approximately 36.8% of the Chitosan Market Share
Chitosan has excellent adsorption capabilities, effectively removing contaminants such as heavy metals, dyes, and organic pollutants from water. Its ability to bind with these impurities makes it a valuable material for water treatment processes.
Chitosan possesses inherent antibacterial and antimicrobial properties, which help control microbial growth and prevent the spread of waterborne diseases. These properties are particularly advantageous in water treatment applications, where maintaining water hygiene and safety is crucial.
With the rise in water scarcity and increasing concerns about water pollution, the demand for effective water treatment solutions is growing worldwide. Chitosan's ability to address these challenges and provide clean and safe water drives its dominance in the water treatment segment.
Market Geographical Share
North America Accounted for Approximately 39.5% of the Market Share in 2022, Owing to the Strong Research and Development Activities and Well-Established Industrial and Commercial Sectors.
North America is known for its advanced research and development infrastructure and expertise. The region's focus on innovation and technology drives advancements in chitosan-based products and applications, fostering market growth.
Consumers in North America are increasingly seeking natural and sustainable products, including chitosan-based solutions. The demand for eco-friendly materials in various sectors, such as cosmetics, food, and agriculture, drives the growth of the chitosan market in the region.
The region has well-established industrial and commercial sectors that utilize chitosan in various applications. Industries such as water treatment, pharmaceuticals, agriculture, and cosmetics have a strong presence in the region, driving the demand for chitosan.
Chitosan Key Players
The major global players in the chitosan market include Sigma-Aldrich, Heppe Medical Chitosan, Kimica Corporation, Qingdao BZ-Oligo Co. Ltd, G.T.C. Bio Corporation, JBiChem International, Dungeness Environmental Solutions Inc., Shandong Laizhou Highly Bio-products Co.Ltd, Primex, and Meron biopolymers.
Russia Ukraine Conflict Analysis
The Russia-Ukraine conflict is estimated to have a significant impact on the global chitosan market. Conflicts between countries can result in the implementation of trade restrictions and tariffs. These barriers can affect the import and export of chitosan and related products, potentially hindering market growth and limiting market access for chitosan suppliers and manufacturers.
Conflict and geopolitical tensions can disrupt supply chains, affecting the availability and transportation of raw materials, including those used in chitosan production. Disruptions in the supply chain can lead to price fluctuations, delays in production, and potential shortages, impacting the overall chitosan market.
Key Developments
- On February 21, 2023, The US Patent and Trademark Office granted Tricol Biomedical, a global leader in innovating hemostasis and wound care solutions, a new patent for the company’s modified chitosan dressing and its through-the-scope delivery in the gastrointestinal (GI) tract to control serious bleeding for up to 96 hours quickly.
- On September 26, 2022, KiOmed Pharma, a Belgian biotechnology company with a focus on the development, manufacture, and distribution of safe and effective medical devices based on a medical-grade highly pure natural chitosan-derivative, and Hansoh Pharmaceutical Group Company Limited, a leading biopharmaceutical company in Asia, announced a license agreement for the development and commercialization of KiOmedinevsOne, a carboxymethyl chitosan injection that has been launched in Europe for the treatment of knee osteoarthritis, in China’s mainland, Macau and Taiwan (the territory).
Why Purchase the Report?
- To visualize the Global Chitosan Market segmentation based on grade, application, and region and understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of chitosan market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The Global Chitosan Market Report Would Provide Approximately 53 Tables, 54 Figures And 195 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
