Chitosan Market
Industry Outlook and Trend Analysis
The global Chitosan Market was worth USD 3.05 billion in 2014 and is expected to reach approximately USD 7.53 billion by 2023, while registering itself at a compound annual growth rate CAGR of 10.57% during the forecast period. The high development of this market is attributable to its high usage in cosmetics, medical, water treatment, and cosmetics industry. Chitosan is marketed under different product grades, for example, food and beverage, pharmaceutical and industrial relying on the purity of the product. Expanding interest for the product in waste water treatment to expel contaminations including oil, phosphorous and heavy minerals is foreseen to be the key driver for the development over the figure time frame.
Application Outlook and Trend Analysis
The demand of chitosan in waste water was esteemed at over USD 220 million in 2015. Developing interest for waste water treatment in different end-use businesses including the textile, dairy, chemical, paper and pulp and metal slicing is foreseen to impel request throughout the following years. It can possibly expel heavy metals from water, subsequently, has wide application scope for treating industrial wastewater.
Regional Outlook and Trend Analysis
Chitosan demand in food and beverage sector in Asia Pacific was esteemed over USD 45 million in 2015. The quick development of pharmaceutical and cosmetics, food and beverage industry in nations including China, Korea and India is foreseen to positively affect the development over the figure period. Japan has been commanding the chitosan market in the course of recent years inferable from the existence of plenteous raw material combined with early awareness in regards to the advantages rendered by the product.
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Competitive Insights
Simplicity of crude material accessibility combined with rising application scope for various evaluations of the product in applications including food and beverage, cosmetics and pharmaceutical is foreseen to open new opportunities for the market contestants over the conjecture time frame. The leading players in the market are FMC Corporation, Advanced Biopolymers AS, DAINICHISEIKA COLOR and CHEM MFG CO LTD, Agratech LLC, Biophrame Technologies, Kraeber and Co GmbH and Foodchem International Corporation.
The Chitosan Market is segmented as follows-
By Application:
Pharmaceutical and biomedical
Cosmetics
Water Treatment
Food and beverage
Others
By Region
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific
Rest of the World
Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others
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Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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