Chitosan Global Market Report 2024

Chitosan, derived from crustaceans and fungi, finds use in medicine, drug manufacturing, high blood pressure, wound healing, obesity, and cholesterol management. Its biodegradable nature supports antimicrobial film development for food packaging.

Chitosan is sourced from various marine organisms such as shrimp, squid, crab, krill, and other similar sources. The shrimp-derived segment involves the sale of chitosan solutions obtained from the exoskeleton of shrimp by different entities including organizations, sole traders, and partnerships. Shrimp are marine animals categorized within the extensive group of arthropods, considered a type of shellfish and seafood, specifically falling under the suborder Pleocyemata. In the chitosan market, the main grades include pharmaceutical, industrial, and food grades, serving applications in water treatment, food and beverage processing, cosmetics, medical and pharmaceutical products, agrochemicals, and various other sectors.

The chitosan market research report is one of a series of new reports from The Business Research Company that provides chitosan market statistics, including the global chitosan industry global market size, regional shares, competitors with a chitosan market share, detailed chitosan market segments, market trends and opportunities, and any further data you may need to thrive in the chitosan industry. This chitosan market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The chitosan market size has grown exponentially in recent years. It will grow from $7.24 billion in 2023 to $8.7 billion in 2024 at a compound annual growth rate (CAGR) of 20.2%. Historical growth can be attributed to several factors including the utilization of seafood processing waste, applications in biomedicine, increased usage in the agricultural sector, the food and beverage industry's reliance on it, applications within the paper and pulp industry, and its role in metal ion chelation.

The chitosan market size is expected to see exponential growth in the next few years. It will grow to $18.61 billion in 2028 at a compound annual growth rate (CAGR) of 20.9%. Anticipated growth in the upcoming period is linked to the development of bioplastics, the rising demand for nutraceuticals and dietary supplements, increasing environmental concerns, the utilization of chitosan in agricultural biostimulants and functional food ingredients, and supportive regulatory frameworks. Major trends expected in this forecast period encompass advancements in water filtration technologies, modifications and derivatives of chitosan, the use of chitosan nanoparticles in drug delivery systems, applications of chitosan in biomedical scaffolds, and its utilization in tissue engineering.

The surge in global demand for wastewater treatment is set to significantly drive the expansion of the chitosan market. Wastewater treatment, involving the purification of water before it reaches natural bodies or aquifers, stands as a critical process worldwide. Chitosan, renowned for its efficacy, serves as a pivotal component in this process, aiding in heavy metal adsorption, industrial dye removal, and the elimination of various organic pollutants. For instance, a 2021 study by Utrecht University and the United Nations University highlighted that the annual global wastewater production reaches 359 billion cubic meters, with nearly 48 percent of this untreated water discharged into the environment. Consequently, the escalating need for wastewater treatment globally stands as a driving force behind the growth trajectory of the chitosan market.

The surge in demand for personal care items is expected to drive the chitosan market's expansion. Personal care products encompass a range of consumer goods aimed at individual hygiene and grooming, spanning skincare, haircare, and oral care. Chitosan serves as a crucial ingredient in creams, lotions, serums, shampoos, and conditioners, contributing to hydration in skincare and improving hair texture and shine. Notably, as of September 2023, the Bureau of Labor Statistics reported a noteworthy 12.3 percent rise in average consumer spending on personal care products in the US, reaching $866 in 2022 from $771 in 2021. This notable increase in demand for personal care products is a primary catalyst behind the growth of the chitosan market.

Key players in the chitosan market are strategically focused on introducing innovative solutions such as chitosan injection, aiming to secure a competitive advantage. Chitosan injection represents a novel medicinal delivery system leveraging chitosan, a naturally occurring polymer, as its primary constituent. Notably, in September 2023, KiOmed Pharma, a leading biotechnology firm headquartered in Belgium, unveiled KiOmedinevsOne. This product stands out as a non-animal-derived chitosan injection specifically formulated as a single-shot intraarticular injection for addressing the symptomatic challenges associated with knee osteoarthritis. Distinguished by its unique structure, diverging from both hyaluronic acid and natural chitosan, it demonstrates the ability to alleviate knee discomfort for over six months. Protected by patented technology, this innovation boasts an impressive response rate of up to 76%.

Leading companies in the chitosan market are actively pursuing strategic partnerships as a means to fortify their competitive position. These collaborations are geared towards amalgamating specialized knowledge and cutting-edge technologies to forge inventive chitosan-based products with wide-ranging industrial utility. A notable instance occurred in November 2022 when Novochizol SA, a prominent clinical-stage life science firm headquartered in Switzerland, entered into a partnership with Alpha Chitin, a distinguished biotechnology company. This strategic alliance empowers Novochizol SA to manufacture groundbreaking, top-tier chitosans using a distinctive chitosan processing technology, resulting in materials endowed with novel properties tailored for applications across diverse industries such as pharmaceuticals, cosmetics, and agriculture.

In August 2021, Checkpoint Surgical Inc., a prominent medical device firm headquartered in the United States, completed the acquisition of all assets belonging to Monarch Bioimplants GmbH. While the specific financial details remained undisclosed, this acquisition significantly bolsters Monarch's strategic vision of enhancing its proficiency in peripheral nerve repair. Monarch Bioimplants GmbH, a pioneering biomedical startup based in Switzerland, specializes in advancing a groundbreaking chitosan membrane aimed at facilitating the recuperative process of damaged peripheral nerves. Monarch's innovative biosynthetic technology for peripheral nerve regeneration, NeuroShield, harnesses naturally occurring chitosan, a material widely utilized in diverse medical applications worldwide.

Major companies operating in the chitosan market report are Advanced Biopolymers AS, FMC Corporation, Kyowa Hakko Bio Co. Ltd., Dainichiseika Color & Chemicals Mfg. Co. Ltd., IFF NovaMatrix, Marshall Marine Products, Protandim, Golden-Shell Pharmaceutical Co. Ltd., KIMICA Corporation, Xianju Tengwang Chitosan Factory, Marine Biopolymer Technologies Inc. (MBT), Bio-Gate AG, Axio Biosolutions, Heppe Medical Chitosan GmbH, Amano Enzyme Inc., Panvo Organics Pvt Ltd., Agratech International Inc., Qingdao Yunzhou Biochemistry Co. Ltd., Meron Biopolymers, NovaTech Nutrition, G.T.C. Bio Corporation, Kitozyme S.A., Kraeber & Co. GmbH, Qingdao BZG Bio-Tech Co. Ltd., PT Biotech Surindo, Biophrame Technologies, Primex BioProducts, Chitofrance, Yishan Marine Biological Products Co. Ltd., Qingdao Haihui Marine Bioengineering Co. Ltd.

Asia-Pacific was the largest region in the chitosan market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the chitosan market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the chitosan market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The chitosan market consists of sales of various forms of chitosan, such as nanoparticles, nanofibers, and chitosan beads. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Chitosan Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on chitosan market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for chitosan ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The chitosan market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Grade: Pharmaceutical Grade; Industrial Grade; Food Grade
• 2) By Source: Shrimp; Squid; Crab; Krill; Other Sources
• 3) By Application: Water Treatment; Food and Beverages; Cosmetics; Medical and Pharmaceuticals; Agrochemicals; Other Applications
• Companies Mentioned: Advanced Biopolymers AS; FMC Corporation; Kyowa Hakko Bio Co. Ltd.; Dainichiseika Color & Chemicals Mfg. Co. Ltd.; IFF NovaMatrix
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.