Chitosan market is projected to grow at a CAGR of 15.70% to reach US$2,560.007 million by 2023, from US$1,067.188 million in 2017. Rising application of chitosan in cosmetics, water treatment, and medical industries is boosting the growth of chitosan market. Rising demand for water and wastewater treatment due to growing global population and increasing urbanization is also spurring the demand for chitosan in this sector. High availability of raw material is also supporting the growth of chitosan market globally. Rising production of chitosan from non-aquatic sources will further continue to propel the growth of chitosan market during the forecast period. However, strict regulatory compliance related to shrimp farming is hindering the growth of chitosan market. Geographically, chitosan market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. APAC holds a significant market share owing to the high usage of chitosan in Korea and Japan as a food additive and for water treatment application. Moreover, high production of shrimp in countries such as China and Thailand is a key factor to drive the regional market growth in terms of raw material supply.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Chitosan value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Chitosan market.
Major industry players profiled as part of the report are Advanced Biopolymers AS, PRIMEX EHF, Agratech, BIO21, and KOYO CHEMICAL CO.,LTD. among others.
Chitosan market has been analyzed through following segments:
Food and Beverage
Middle East and Africa