Chitosan Market Surges, Projected to Hit USD 9.3 Bn by 2033, With a 10.41% CAGR | Marketresearch.biz

Advertisement

Marketresearch.biz notes the growing prominence of chitosan in the biomedical sector, particularly in applications like bandages and tissue engineering. Its wound management benefits, creating conducive environments for healing and stimulating natural hyaluronic acid synthesis, underscore its value. The projected significant growth of the biomedical market highlights chitosan’s increasing demand and positions it as a crucial material in medical applications.

New York, Jan. 23, 2024 (GLOBE NEWSWIRE) — The chitosan market was valued at USD 3.53 billion in 2023 with significant growth and is projected to reach USD 9.3 billion by 2033 with an outstanding CAGR of 10.41%.

The Chitosan market experiences a surge in demand driven by a growing appetite for advanced technologies and eco-friendly products. Extracted from chitin found in crustaceans and fungi, Chitosan is bio-degradable and eco-friendly, making it a sought-after material for anti-microbial food packaging films. Its application extends to wound dressing, leveraging its gel-forming potential. In biomedical realms, Chitosan exhibits exceptional mucoadhesive features, accelerates healing, and is integral to tissue engineering and drug delivery systems.

Advertisement

To get additional highlights on major revenue-generating segments, Request a Chitosan Market sample report at https://marketresearch.biz/report/global-chitosan-market/request-sample/

The biomedical applications of Chitosan includes wound-healing formulations in various forms like gel, sponge, and active dressing. It is also explored in drug discovery, with applications across oral, ocular, and skin routes. Notably, Chitosan serves as a brain drug delivery carrier for conditions like cancer, epilepsy, migraine, Parkinson’s, and Alzheimer’s.

Addressing global health concerns, Chitosan is gaining traction in weight management. With over 51% of the world’s population grappling with obesity or overweight issues, Chitosan’s fiber-rich composition makes it an ideal choice for weight loss. As a source of insoluble fibers, Chitosan expands in the stomach, promoting a prolonged feeling of fullness. The market anticipates substantial growth, driven by its crucial role in the medical sector and rising demand for eco-friendly solutions, positioning Chitosan as a versatile and essential element in various industries.

Key Takeaways

  • Shrimp dominates the source type market segment due to its consistent quality and the efficiency of extraction processes.
  • Industrial-grade chitosan leads the grade-type market segment due to various industrial applications that permit it to be used in biopolymers, water treatment as well as various other industrial processes.
  • Powder form predominant in the form market segment due to convenience in storage handling, handling, and incorporation into diverse products.
  • Biomedical and Pharmaceuticals rule the application market segment due to its biocompatibility, biodegradability as well as unique chemical properties.
  • North America commands a significant 44.60% of the global chitosan market, driven by advanced biopolymer research, sustainability emphasis, and strong contributions from the U.S. and Canada.

Driving Factors

Applications of Water Treatment

Chitosan’s efficacy in reducing contaminants like kaolinite and turbidity in drinking water, with reductions of 87-90% at doses of 1-3 mg/L, underlines its potential. Its ability to effectively remove diverse contaminants, including heavy metals and dyes from wastewater, positions it as a preferred choice in municipal water treatment. The low cost and high efficiency of chitosan in water purification, coupled with the increasing global focus on sustainable water management, are pivotal in expanding the chitosan market.

Emergence of the Biomedical Sector

Chitosan is increasingly used in applications such as bandages and tissue engineering. Its benefits in wound management, such as promoting moist environments conducive to healing and stimulating natural hyaluronic acid synthesis, make it invaluable. The expanding biomedical market, projected to grow significantly, is a testament to chitosan’s rising demand, marking it as a vital material in medical applications.

To understand how our report can bring a difference to your business strategy, Inquire about a brochure at https://marketresearch.biz/report/global-chitosan-market/#inquiry

Restraining Factors

Regulatory Restrictions in Key Markets

In certain countries, particularly within the European Union and North America, strict regulations require more comprehensive safety data before chitosan can be widely used. These stringent regulatory environments block access to key markets, thereby limiting the potential for market growth. The need for extensive safety data and approval processes creates barriers to entry and delays the adoption of chitosan-based products in these significant markets, consequently restraining the overall growth of the chitosan industry.

Have Queries? Speak to an expert or To Download/Request a Sample, Click here.

Report Attribute Details
Market Value (2023) US$ 3.53 Billion
Market Size (2033) US$ 9.3 Billion
CAGR (from 2024 to 2033) 10.41% from 2024 to 2033
North America Region Revenue Share 44.60%
Historic Period 2016 to 2023
Base Year 2023
Forecast Year 2024 to 2033

Growth Opportunities

High Requirement of Anti-Aging Cosmeceuticals Will Push the Market

Chitosan is gaining popularity for its collagen-boosting effects, making it a desirable ingredient in creams, serums, and facial masks. These products are increasingly marketed as organic and non-toxic, aligning with consumer preferences for more natural skincare solutions. Cosmetic companies recognize the potential of chitosan-based products to command premium prices, given their appeal to health-conscious consumers.

Regional Analysis

North America commands a significant 44.60% of the global chitosan market, driven by advanced biopolymer research, sustainability emphasis, and strong contributions from the U.S. and Canada. The region sees diverse applications, including wastewater treatment, pharmaceuticals, and cosmetics, aligning with stringent environmental regulations. Europe’s focus on sustainability and Asia-Pacific’s growth, propelled by high production levels and increasing environmental consciousness, further contribute to the expanding chitosan market.

Grow your profit margin with Marketresearch.biz – Purchase This Premium Report at https://marketresearch.biz/purchase-report/?report_id=42963

Segment Analysis

By source type, Shrimp dominates the market segment due to its consistent quality and the efficiency of extraction processes. With global shrimp production exceeding 5 million metric tons in 2022, there is a substantial supply of raw materials for chitosan production. Major shrimp-producing countries like China, Thailand, Indonesia, India, Vietnam, Brazil, Ecuador, and Bangladesh contribute significantly to this supply. The extraction of chitosan from these sources is less common due to lower availability and different structural properties of the chitin they contain.

By grade type, Industrial-grade chitosan leads the market segment due to various industrial applications that permit to be used in biopolymers, water treatment as well as various other industrial processes. Food Food-grade chitosan is used in food preservation and as a dietary supplement, while pharmaceutical-grade chitosan is used in drug delivery systems, wound healing, and other medical applications.

By form type, powder form is predominant in the market segment due to convenience in storage handling, handling, and incorporation into diverse products. It is popular in flakes and solution forms. Flakes are used in specific applications where a larger particle size is needed, while solutions are convenient for applications requiring immediate solubility.

By application type, Biomedical and Pharmaceuticals rules the market segment due to its biocompatibility, biodegradability as well as unique chemical properties. It has applications for drug delivery systems as well as wound dressings, tissue engineering, and as a biomaterial in a variety of medical devices. The most important use of Chitosan is for pharmaceutical and biomedical research, as well as Water Treatment as well as Water Treatment, in conjunction with the ongoing advancements and research within these areas, that make them one of the most sought-after products for Chitosan.

Segments covered in this report

By Source

  • Shrimp
  • Crab
  • Lobster

By Grade

  • Industrial Grade Chitosan
  • Food Grade Chitosan
  • Pharmaceutical Grade Chitosan

By Form

  • Powder
  • Flakes
  • Solution

By Application

  • Biomedical & Pharmaceuticals
  • Water Treatment
  • Agriculture
  • Cosmetics
  • Food & Beverages

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

For more insights on the historical and Forecast market data from 2016 to 2033 – download a sample report at https://marketresearch.biz/report/global-chitosan-market/request-sample/

Competitive Analysis

In the dynamic Chitosan Market, key players such as FMC Corp and Primex EHF lead with large-scale chitosan production, emphasizing quality and sustainable sourcing. KIMICA Corporation and Golden-Shell Pharmaceutical Co. Ltd specialize in diverse chitosan applications, aligning with industry trends in water treatment, biomedicine, and cosmetics. Companies like Heppe Medical Chitosan GmbH and United Chitotechnologies Inc. carve niches in high-purity chitosan for biomedical and pharmaceutical use. CarboMer, Inc. contributes to market innovation with a focus on advanced chitosan derivatives, showcasing the sector’s versatility.

Key Players

  • CarboMer, Inc.
  • Heppe Medical Chitosan GmbH
  • United Chitotechnologies Inc.
  • Golden-Shell Pharmaceutical Co. Ltd
  • Chitinor AS
  • FMC Corp
  • Primex EHF
  • Chitolytic
  • KIMICA Corporation
  • Dainichiseika Color & Chemicals Mfg Co. Ltd
  • Qingdao Yunzhou Biochemistry Co.
  • Spectrum Chemical MFG Corp.
  • Meron Biopolymers
  • Panvo Organics Pvt Ltd
  • Biopharma Technologies
  • KitoZyme S.A
  • Chitosanlab
  • Advanced Biopolymers AS
  • Foodchem International Corporation

Recent Developments

  • In January 2024, Researchers at the University of Porto and the Federal University of São Paulo developed a biodegradable chitosan-based sponge for treating vulvovaginal candidiasis. The sponge slowly releases clotrimazole, providing effective medication, ease of use, and improved comfort. Clinical trials are the next step, with potential applications beyond candidiasis treatment. The study was supported by FAPESP. In
  • In September 2023, Tidal Vision, a green chemistry startup, raised over $20 million and acquired customer Clear Water Services. The Bellingham-based company transforms waste crab shells into biodegradable chitosan for various applications, including water purification and flame-retardant alternatives.
  • In July 2023, Researchers in São Paulo, Brazil, developed a biodegradable film using a compound derived from limonene (citrus fruit peel) and chitosan (crustacean exoskeletons). The film shows enhanced antioxidant properties and is a sustainable alternative for food packaging, with potential applications in various fields. The study addresses the challenges of combining these materials, paving the way for more sustainable and effective packaging solutions.
  • In June 2023, Chinova Bioworks, a Canadian startup, is expanding its production capacity four-fold to meet the demand for its natural preservative, Chiber, made from upcycled mushroom stalks. The company, known for turning mushroom stalks into chitosan-based preservatives, is targeting non-alcoholic beer producers, plant-based dairy, and vegan fining agents.

Browse More Related Reports

  • Organic Coagulant Market size reached USD 2.85 billion in 2022. It is expected to reach USD 7.6 billion by 2032, with a CAGR of 10.6% during the forecast period from 2023 to 2032.
  • Aniline market size reached 13.5 Million in 2022. It is projected to reach 16.67 Million by 2032, displaying a significant CAGR of 8.3% during the forecast period of 2023 to 2032.
  • Fluoropolymers Market size is expected to be worth around USD 14.3 Bn by 2032 from USD 8.2 Bn in 2022, growing at a CAGR of 5.9% during the forecast period from 2023 to 2032.
  • Honeysuckle Market size is expected to be worth around USD 2.9 Bn by 2032 from USD 1.6 Bn in 2022, growing at a CAGR of 6.2% during the forecast period from 2023 to 2032.

About Us:

MarketResearch.Biz (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. MarketResearch.Biz provides customization to suit any specific or unique requirement and tailor-made reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.

Follow Us on LinkedIn:https://www.linkedin.com/company/marketresearch-biz/
Follow Us on Facebook:https://www.facebook.com/marketresearch.biz
Follow Us on Twitter:https://twitter.com/PrudourResearch

CONTACT: Global Business Development Team – MarketResearch.biz MarketResearch.biz (Powered By Prudour Pvt. Ltd.) Email: [email protected] Address: 420 Lexington Avenue, Suite 300, New York City, NY 10170, United States Tel: +1 347 796 4335 Website: https://marketresearch.biz/

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.