Chitosan Market Size, Share, Demand & Trends by 2031
The global Chitosan Market is anticipated to rise at a surprising CAGR of 14.3% between the forecast period of 2021 and 2031. The previous year’s forecast was evaluated at a CAGR of 12.1% during 2016-2020. A noticeable increase in the application of chitosan for fighting infectious diseases and strengthening immunity has driven the market growth.
Increased consumer shift towards organic and natural
products has led to rising application of chitosan among customers. Post
pandemic, more and more consumers are on a constant lookout for environmental
friendly and healthy alternatives, creating sales opportunities for the market
due to chitosan’s renewability.
Chitosan is a natural ingredient that helps food
products remain fresh and retain their quality. In addition to that, it is also
registered to have increased food additives application, making the food
products tastier and healthier. Backed by these factors’ the chitosan market is
registering high growth during the forecast years.
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Key Takeaways
- Widespread
awareness about the benefits of using eco-friendly and biodegradable
products is leading to the growth of the chitosan market. Owing to such
benefits chitosan-based products including eco-friendliness and
biodegradability are poised to generate growth in the market.
- Chitosan-based
products are increasingly preferred over synthetic ingredients due to
their non-toxicity and environmental friendly features which are making
several industries choose chitosan over synthetic products.
- The
healthcare industry is prominently using chitosan-based products as a key
ingredient for the treatment of tuberculosis, cancer, and diabetes, and in
nutraceuticals, and the agriculture industry for the production of
bio-pesticides, seed treatment, leaf coatings, and others. Chitosan is
also used as an antioxidant additive in food and beverages.
- According
to various medical studies and research it has been revealed that
chitosan-based products are used as a leading element to cure various
types of diseases, which is expected to drive the chitosan market during
the forecast period.
- Chitosan-based
membranes incorporate high tensile strength which is why they have been
proposed for artificial kidneys.
- Chitosan
and its derivative products are widely used in space-filling implants,
drug and antibiotics delivery systems, tissue engineering, antifungal and
wound dressings, dental implants, and many others.
Competitive Landscape
Agratech (KYTOSAN USA, LLC), Austanz Chitin Pty Ltd.,
CarboMer, Inc., Golden-Shell Pharamceuticals Co. Ltd, Heppe Medical Chitosan
GmbH, KIMICA Corporation, Kitozyme, LLC, Kraeber & Co. GmbH, Meron Group,
Qingdao Haijia Biology and Technology Co. Ltd, Tidal Vision Inc., Chitolytic,
Marshall Marine Products, Zhejiang Aoxing Biotechnology Co. Ltd., are some of
the key companies profiled in the full version of the report.
Companies are nowadays investing in research and
development to launch new products with significantly enhanced properties.
Patients with chronic injuries such as venous leg ulcers, diabetic foot ulcers,
post-operative surgical wounds, pressure ulcers, skin abrasions, cavity wounds,
and donor sites may benefit from the “first of its type” solution, which is
supposed to give relief and speed recovery.
More Insights into the Chitosan Market
With diverse usage of chitosan-derived products, it is
also used in the manufacturing of contact lenses. Therefore, the promising uses
of chitosan in the healthcare industry are expected to drive the chitosan
market during the forecast period.
As per FMI, the North American chitosan market is
anticipated to offer lucrative growth opportunities over the forecast period.
In 2021, the U.S. is expected to hold over 80% of the market.
Consumers in the United States have health and
well-being as their top priorities due to which a product that offers various
health benefits backed by research results is likely to gain popularity.
With a market share of nearly 21% in 2021, Germany
remains a leading market for chitosan in Europe. The growing demand for
personal care products in Germany is providing new opportunities for players in
the chitosan market.
The never-ending demand for natural ingredients in
cosmetics and personal care products is also expected to result in
significantly higher sales of the ingredients used in these products.
Japan remains one of the leading markets for chitosan
in East Asia, accounting for 55% market share in 2021.
Evolving customer preferences have grown the
popularity of chitosan-based products in the Japanese market. Clean label
products have been introduced in the dietary supplements & food additives
market, with Chitosan playing a significant role.
China’s chitosan market is poised to gain an
attractive value share over the forecast period. It is expected to account for
a share of nearly 30% in 2021 in the East Asia market.
India is expected to lead the South Asian market over
the forecast years as it accounted for 45% of market care in 2021.
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Full Report @ https://www.futuremarketinsights.com/reports/chitosan-market
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