Chitosan Market Future Market Leaders: Innovations and Insights for 2024-2027

Increase in the usage of chitosan in hemostatic dressings and the rise in demand for bio-based cosmetic products are boosting the growth of the global market.

WILMINGTON, DELAWARE, UNITED STATES, July 17, 2024 /EINPresswire.com/ -- Allied Market Research published a report titled, “Chitosan Market by Source (Shrimp, Squid, Crab, Krill, and Others) and Application (Water Treatment, Biomedical & Pharmaceutical, Cosmetics, Food & Beverage, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global chitosan market generated $1.7 billion in 2019 and is estimated to reach $4.7 billion by 2027, registering a CAGR of 14.5% from 2020 to 2027.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/1737

Key Determinants of the Market

- Drivers: The increase in the usage of chitosan in hemostatic dressings and the rise in demand for bio-based cosmetic products are boosting the growth of the global chitosan market.
- Restraints: High production costs of chitosan hinder market growth.
Opportunities: The rise in the adoption of chitosan as bio-plastic is expected to create numerous opportunities for market players.

Market Segmentation

By Source:

- Shrimp: Dominated the market in 2019, accounting for over three-fourths of the global market. The large demand for shrimp chitosan in water treatment and the food & beverage industry drives this segment.
- Crab: Expected to have the highest CAGR of 19.8% during the forecast period due to the growing utilization of crab waste in plantation to maintain soil biodiversity.

By Application:

- Water Treatment: Led the market in 2019, holding more than one-third of the global chitosan market. It is expected to maintain the largest share and register the highest CAGR of 15.9% from 2020 to 2027, owing to its biodegradable nature and effectiveness in removing toxic materials.

Regional Insights

Asia-Pacific: Followed by North America, Asia-Pacific contributed to nearly three-fifths of the global chitosan market share in 2019. The region is expected to maintain its dominance and grow at the highest CAGR of 15.3% from 2020 to 2027 due to the easy availability of crustacean waste in coastal areas.

Leading Market Players

- Heppe Medical Chitosan GmbH
- Advanced Biopolymers AS
- Primex ehf, G.T.C.
- Bio Corporation
- Novamatrix
- Kitozyme S.A.
- Golden-Shell Pharmaceutical Co. Ltd.
- Agratech International, Inc.
- Panvo Organics Private Ltd
- Qingdao Yunzhou Biochemistry Co. Ltd.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/purchase-enquiry/1737

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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