Chitosan Market Size 2023-2030 Global Industrial Analysis, Market Share, Top Key Players

Chitosan Market

The global Chitosan Market size was worth around USD 1108.9 Million in 2022 and is predicted to grow to around USD 5363.1 Million by 2030 with a compound annual growth rate (CAGR) of roughly 21.78% between 2023 and 2030.

A kind of sugar that is obtained from the outer hard skeleton of shellfish such as shrimp, crab, and lobster is known as chitosan. It is also used in medicines in order to cure diseases such as Crohn’s disease, obesity, and high cholesterol. The complications that are resulted from kidney failure can be cured with the help of chitosan. The complications may be insomnia, high cholesterol, anemia, etc. There are instances where people apply chitosan directly to the gums in order to treat the inflammation.

Global Chitosan Market: Segmentation

The chitosan market is globally segmented into its application and regions. On the basis of the application, the global market is segregated into pharmaceutical & biomedical, food & beverage, water treatment, cosmetics, and others. Region-wise, the chitosan market is diversified into North America, Europe, Asia-Pacific, and Rest of the World.

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Global Chitosan Market: Growth Factors

The key driver that is boosting the chitosan market is the severe shortage of the fresh water owing to the increasing urban population and the rapid rate of industrialization. As a solution governments and the private market players are making investments for the water treatment worldwide. A unique composite known as chitosan flocculant is used in the treatment of the water as it is cost effective and is more effective than the flocculant in the water treatment. The booming personal care industry is boosting the global chitosan market. Chitosan is used as an ingredient in the products of dental care, hair care, and skin care products. It has good skin moisturizing property thus used in various skin care products. The factor that is affecting the market growth in a negative way is the high cost of the raw materials for the manufacturing of the chitosan.

Global Chitosan Market: Regional Analysis

The region that dominates the chitosan market is Asia Pacific. The rapid market growth in the Asia-Pacific region can be attributed to the factor that in the recent years there has been a rapid growth in the pharmaceutical and cosmetics industry and the food & beverage industry which has a huge demand for chitosan in the countries such as India, China, and Korea. This has created a positive impact on the chitosan market. In Korea, chitosan is used as a natural food additive, hence increasing its demand. The major shrimp producing countries are China and Thailand which proves beneficial for the raw material supply for the chitosan market. In Japan, the demand for chitosan is primarily from the applications of water treatment. North America and Europe are also contributing a good share in the global chitosan market.