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The expansion in waste from the seafood industry, an increase in chitosan usage, and government assistance for waste utilisation are driving the Global Chitosan Market.
JERSEY CITY, N.J. , Sept. 22, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Chitosan Market" By Grade (Industrial Grade, Food Grade, Pharmaceutical Grade), By End-User (Water Treatment, Food And Beverages, Cosmetics, Medical And Pharmaceuticals), and By Geography.
According to the extensive research done by Verified Market Research experts, the Chitosan Market size was valued at USD 661.84 Million in 2020 and is projected to reach USD 1.88 Billion by 2028, growing at a CAGR of 14.03 % from 2021 to 2028.
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Browse in-depth TOC on "Chitosan Market"
Product Launches and Product Expansions
Chitosan is a polymer made from the shells of lobster, crab, shrimp, and crayfish that belongs to the class of amino polysaccharides. It is produced using an alkaline substance, such as caustic soda, to deacetylate the chitin shells or exoskeletons of insects, crustaceans, and therefore the cell walls of fungus. Each retail staple varies in its chitosan content, making it an important component in commercial manufacture. Chitosan is said to be mostly produced by shrimp.
The growth in waste from the seafood industry, an increase in chitosan applications, and government assistance for waste utilisation are the main factors driving the global chitosan market. Additionally, growing use of Chitofelx's in hemostatic dressing. Additionally, a surge in demand for cosmetics made from bio-based materials is fueling market expansion on a global scale.
In the event that there is a lack of marine debris, an increase in the number of new sources for commercial chitosan, such as fungi, snails, and other mollusks, may take the place of the traditional sources, such as crab, shrimp. The abundant availability of fungal waste in agriculture and the synthetic creation of fungus using subpar nutrients by straightforward chemical processes present profitable potential for the growth of the chitosan market.
The major players in the market are Primex EHF, Advanced Biopolymers as, Bio21 Co., Ltd., G.T.C. Bio Corporation, Taizhou City Fengrun Biochemical Co., Heppe Medical Chitosan GmbH, Vietnam Food, Kitozyme S.A., Agratech, Ltd. and Zhejiang Golden-Shell Pharmaceutical Co., Ltd.
Verified Market Research has segmented the Global Chitosan Market On the basis of Grade, End-User, and Geography.
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