The global chitosan market size is expected to reach USD 21.41 billion by 2025,
according to a new report by Grand View Research, Inc. The market is projected
to expand at a CAGR of 20.8% from 2019 to 2025. Growing scope of applications
in cosmetics, water treatment for removal of impurities, and medical sectors is
the key factor driving the market. Moreover, rising demand for bio-based
chemicals and less number of fresh water resources is impelling the market
growth. North America is expected to lead chitosan market in the near future
due to positive outlook from the pharmaceutical sector in the region.
Additionally, rise in demand from cosmetic
industry and growing application scope in waste water treatment along with
government initiatives are also propelling the growth. The market competition
is expected to intensify in the coming years owing to escalating demand for
chitosan for varied applications. Rising need for waste water treatment in
industries, such as textile, dairy, paper & pulp, metal cutting, and
chemical, is anticipated to propel the product demand. Thus, increasing product
demand as a water treatment chemical and strict regulations on the disposal of
industrial waste water are also likely to boost market growth.
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https://www.grandviewresearch.com/industry-analysis/global-chitosan-market
https://www.grandviewresearch.com/industry-analysis/global-chitosan-market
Further key findings from the study suggest:
· North America is expected to be the
fastest-growing region due to increasing demand and rising preference of
pharmaceutical and cosmetics manufacturers for naturally-derived products
· Pharmaceutical industry in Canada is
projected to expand at a CAGR of 21.03% in near future due to increasing
R&D for product application in tissue engineering
· Some of the key companies in the market
include Qingdao Yunzhou Biochemistry Co., FMC Corp., Golden-Shell
Pharmaceutical Co. Ltd., and Heppe Medical Chitosan GmbH
· Companies are focusing on strengthening
their global reach by improving the product purity. They are also investing in
R&D for the production of biomedical and pharmaceutical grades of the
product
Grand View Research has segmented the
global chitosan market on the basis of application and region:
Chitosan Application Outlook (Volume, Tons;
Revenue, USD Million, 2014 - 2025)
·
Water Treatment
·
Pharmaceutical & Biomedical
·
Cosmetics
·
Food & Beverage
·
Others
Chitosan Region Outlook (Volume, Tons;
Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
