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Chitosan Global Market Report 2022

·4-min read

Major players in the chitosan market are Advanced Biopolymers AS, Agratech International, Inc, Golden-Shell Pharmaceutical Co. Ltd, G. T. C. Bio Corporation, Heppe Medical Chitosan GmbH, Kitozyme S. A, Novamatrix, Panvo Organics Pvt Ltd, Primex Ehf, Qingdao Yunzhou Biochemistry Co.

New York, June 07, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Chitosan Global Market Report 2022" -
, Ltd, Dainichiseika Color & Chemicals Mfg, Meron Biopolymers, KIMICA Corporation, Kraeber & Co. GmbH, Axio Biosolutions, Marshall Marine Products, PT Biotech Surindo, Xianju Tengwang Chitosan Factory, and Biophrame Technologies.

The global chitosan market is expected to grow from $5.12 billion in 2021 to $6 billion in 2022 at a compound annual growth rate (CAGR) of 17.2%. The market is expected to grow to $12.14 billion in 2026 at a compound annual growth rate (CAGR) of 19.2%.

The chitosan market consists of sales of chitosan products by entities (organizations, sole traders, and partnerships) that is referred to as sugar, which is obtained from the outer skeleton of crustaceans and in the cell walls of certain fungi.Chitosan can be used as a medicine and for manufacturing certain drugs.

It is used for high blood pressure, wound healing, obesity, high cholesterol, and various other purposes. Due to its biodegradable nature, chitosan is also used for the development of antimicrobial films for food packaging.

The main sources of chitosan include shrimp, squid, crab, krill, and other sources.The shrimp segment consists of sales of chitosan solutions by entities (organizations, sole traders, and partnerships) that are taken from the exoskeleton of shrimp.

A shrimp is a sea animal that belongs to the huge group of Arthropods.It is a kind of shellfish that is considered seafood.

Shrimps belong to the sub-order pleocyemata.The main grades in the chitosan market are pharmaceutical grade, industrial grade, and food grade.

They are is used for water treatment, food and beverages, cosmetics, medical and pharmaceuticals, agrochemicals, and other applications.

Asia Pacific was the largest region in the chitosan market in 2021.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 and Africa.

The increasing requirement for wastewater treatment across the globe is expected to propel the growth of the chitosan market.Wastewater treatment has defined the process of removing impurities from wastewater before it reaches the natural bodies or aquifers such as oceans, lakes, and rivers.

Chitosan is widely used for wastewater treatment, as it helps in heavy metal or metalloid adsorption, removal of dyes from industrial wastewater, and removal of other organic pollutants such as organic oxidized, oil impurities, and organochloride pesticides.For instance, in 2021, according to a study conducted by the Utrecht University, a Netherlands-based public research university, and the United Nations University, Japan-based research and study university, the wastewater produced globally each year stands at 359 billion cubic meters, which is approximately 48 percent of that water is released to the environment untreated.

Therefore, the growing requirement for wastewater treatment across the globe is driving the growth of the chitosan market.

Technological advancements are a key trend gaining popularity in the chitosan market.The key players in chitosan market are developing innovative technologies or products for specific applications such film packaging, skin tissue engineering, pharmaceutical drugs and others.

For instance, in March 2020, Bioavanta-Bosti, a pioneer in chitosan nanoparticles research, announced the launch of Novochizol, unique polysaccharide nanotechnology that is used for formulating aerosol anti-COVID-19 drugs. It is used to deliver any potential anti-COVID-19 drug to the lungs of seriously ill patients.

In August 2021, Checkpoint Surgical Inc, a US-based medical device company, has acquired all the assets of Monarch Bioimplants GmbH, for an undisclosed amount.The acquisition strengthens Monarch’s vision to improve its expertise in peripheral nerve repair.

Monarch Bioimplants GmbH is a Switzerland-based biomedical start-up that is involved in the development of a revolutionary chitosan membrane supporting the healing process of damaged peripheral nerves. Monarch’s biosynthetic peripheral nerve regeneration technology, NeuroShield is designed from naturally occurring chitosan that is used in various medical applications worldwide.

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

Read the full report:

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