Chitosan Market to Cross $76.58 billion Revenue by 2030

Chitosan Market Overview

“The Chitosan Market Predictable at $9.12 billion in 2022, is estimated to increase at a CAGR of 21.85% from $18.65 billion in 2023 to $76.58 billion by 2030.”

Chitosan is a polysaccharide derivative of chitin derived from sea creature shells. It is used in dietary supplements due to its ability to inhibit fat absorption in the gastrointestinal tract. It is also used in healthcare due to its biocompatibility and biodegradability. Chitosan's anticoagulant properties make it suitable for hemostatic dressing and wound treatment. It is also used as a bio pesticide in agriculture to limit pathogenic effects on trees and plant growth promoters.

Chitosan is a polysaccharide derivative of chitin derived from sea creature shells. It is used in dietary supplements due to its ability to inhibit fat absorption in the gastrointestinal tract. It is also used in healthcare due to its biocompatibility and biodegradability. Chitosan's anticoagulant properties make it suitable for hemostatic dressing and wound treatment. It is also used as a bio pesticide in agriculture to limit pathogenic effects on trees and plant growth promoters.

Chitosan, a chitin-based product, is influenced by the cost of production and availability of crustacean waste. Changes in seafood production and processing can affect the availability and consistency of chitin as a raw material, potentially affecting the market. High manufacturing costs and limited raw material availability may hinder market expansion. However, the high cost of bulk water treatment production may also hinder industry growth. Despite this, an increase in new commercial chitosan sources like fungus and snails may replace traditional sources. The use of easily accessible fungi waste in agriculture and the use of cheap nutrient-rich chemical procedures for artificial fungi production could potentially drive chitosan market growth.

Chitosan manufacturers are seeing potential growth in various applications, especially in the food and beverage industries. They are exploring chitosan as a natural preservative and packaging material, with its use as an antibacterial agent expected to increase due to rising consumer demand for clean labeling and sustainable products.

Key Takeaways

According to the source, the shrimp segment would have a 61% revenue share in 2022.

In 2022, the biomedical segment will have a revenue share of more than 33.5%.

In 2022, the cosmetics application category will account for 24.65% of total sales.

North America has a revenue share of more than 45.36% in 2022.

During the forecast period, Asia Pacific will increase at a CAGR of 14.25%.

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Market Dynamics

Growth Factors

The market for chitosan is expected to expand due to its increasing demand in end-user sectors like waste water treatment and food and beverage industries. Its use in water treatment removes dyes and other organic pollutants from industrial wastewater. Chitosan's hydrophobicity, biocompatibility, biodegradability, non-toxicity, and presence of highly reactive amino and hydroxyl groups make it suitable for waste water treatment.

Chitosan, with its antioxidant and antibacterial properties, can improve food shelf life and replace synthetic surfactants in food technologies. It can also be used as a functional ingredient in treating hypercholesterolemia, hypertension, and inflammation, and for nutrient encapsulation in functional foods. The food and beverage industry is expected to reach USD 342,213 million in 2021, with online retail becoming the fastest-growing product category in eCommerce. This growth will positively impact the chitosan market.

Growth Drivers

Chitosan is rapidly being utilized in the pharmaceutical sector for tablet disintegration, direct tablet compression, sustained-release solid dosage forms, and drug dissolving improvement.

Chitosan is a versatile and superior excipient used in sustained release implant systems for long-term hormone delivery, offering superior qualities compared to traditional excipients.

Chitosan's transmucosal absorption-promoting properties, combined with its low toxicity profile, make it a promising candidate for oral and nasal delivery of proteins, peptides, and vaccines, making it a promising candidate for the pharmaceutical industry.

Cargill has introduced a new flavor technology for food additives, ensuring a consistent, fresh taste experience for customers and ensuring producer safety. This innovation is part of the rapid expansion of the chitosan industry, which maintains food quality and freshness.

The chitosan business is driven by consumers' preference for natural and organic products, and the industry's renewability, which is expected to expand demand for environmentally friendly products, offering significant sales potential.

As a result, various sectors are increasingly preferring chitosan-based goods over synthetic components.Chitosan is utilized in healthcare for treating tuberculosis, cancer, and diabetes, as well as in nutraceuticals and agriculture for bio-pesticides, seed treatment, and leaf coatings, and as an antioxidant in food and beverages.

Research on chitosan-based products leads to the discovery of therapies for various diseases, driving the chitosan industry. Low-cost chitosan-based membranes are recommended for artificial kidneys, highlighting their potential in the future.

Trends and Opportunities

Wine Industry Opportunities: Chitosan and Glucomannan

Chitosan, a traditional wine fining agent, has been found to enhance wine taste and fining process when mixed with glucomannan, a natural polysaccharide. This new approach offers manufacturers new opportunities to produce unique fining agents that can boost wine quality while reducing production costs. With the global wine market expected to reach $521 billion by 2030, this presents a significant market opportunity.

Chitosan's unique properties and increased awareness of its benefits create profitable opportunities

Chitosan, the second most prevalent polysaccharide globally, is experiencing rapid expansion due to the increasing presence of market players and competition. The health benefits of chitosan are gaining popularity in the healthcare sector. The global demand for chitosan is driven by its unique features, abundant raw materials, and growing awareness of its health benefits. Non-aquatic chitosan production is expected to provide attractive potential for the global chitosan industry.

Chitosan, a byproduct of the fishing industry, is a polysaccharide with N-acetyl-D-glucosamine and D-glucosamine links. Key players in the market aim to increase revenue by collaborating with fishery producers. However, they face challenges like strict shrimp farming laws and limitations in medicine delivery systems.

Competitive Landscape of the Chitosan Market

• Advanced Biopolymers AS (Norway)
• BIO21 Co., Ltd.
• G.T.C. Bio Corporation
• Taizhou City Fengrun Biochemical Co., Ltd.
• Zhejiang Golden-Shell Pharmaceutical Co., Ltd.
• Biophrame Technologies
• Heppe Medical Chitosan GmbH
• Meron Biopolymer
• Qingdao Yunzhou Biochemistry Co.
• Golden-Shell Pharmaceutical Co. Ltd
• FMC Corp.
• MaxioCel
• Primex EHF
• Heppe Medical Chitosan GmbH
• Vietnam Food
• KitoZyme S.A.
• Agratech

Recent Developments in Chitosan Market

For instance: In 2019, MaxioCel, a chitosan-based next-generation wound care dressing, was introduced by Axio Biosolutions. Patients with chronic injuries such as venous leg ulcers, diabetic foot ulcers, post-operative surgical wounds, pressure ulcers, skin abrasions, cavity wounds, and donor sites may benefit from the "first of its type" solution, which is supposed to give relief and speed recovery. With its integrated scar healing, hemostatic, and pain management properties, MaxioCel fills a significant market gap.

Friesland foods Kievit is a prominent player who has created this novel encapsulating technology to promote the usage of chitosan as a natural product. By establishing a distinct business organization, Kievit Ventures, Friesland Foods Kievit claims to have accelerated long-term innovation in encapsulation technology. Manufacturers are also focusing on the expansion of manufacturing facilities globally to maintain their global presence.

In March 2021, in Brazil, the University of Brasilia, in collaboration with the University of Campinas, Brazil, Centro de Pesquisa em Biotecnologia Ltda, Hospital Regional da Asa Norte (HRAN), Hospital da Região Leste (HRL), and Hospital Universitário de Brasília (HUB/UnB), was conducting VESTA clinical trial to assess the effectiveness of a novel respirator with chitosan nanoparticles to reduce the incidence of SARS-CoV-2 infection in healthcare professionals.

In March 2020, Bioavanta-Bosti, a leader in chitosan nanoparticles research, launched Novochizol, which is a unique chitosan nanoparticle technology that can be used to deliver and confine any potential anti-COVID-19 drug to the lungs of acutely ill patients.

In January 2020, Indian medtech start-up Axio Biosolutions raised Rs36 crores ($5.2 million) in a Series B-1 funding round led by Omidyar Network India. Axio Biosolutions plans to utilize the funds to expand its presence in the U.S. and Western Europe while developing surgical and wound care products for the global market. The company's chitosan-based wound care product, Axiostat, has received clearance from the U.S. FDA and will soon enter the U.S. market. The latest funding round is an extension of the previous round where Axio raised Rs47 crores ($7.4mn) from UC-RNT, Accel, and Chiratae Ventures

Regional Insights

How large is the market opportunity for chitosan in the United States?

The US food industry is experiencing growth due to the demand for natural preservatives and packaging materials. Chitosan, a natural alternative to synthetic preservatives and plastic packaging, is expected to gain popularity due to health and environmental concerns. The FDA has permitted chitosan use in food products, allowing businesses to create innovative products.

Will Germany Maintain Its Lead in the European Chitosan Market?

Germany, a major chitosan market, is expected to reach a value of $1,321 million by 2023, driven by the government's support for sustainable production methods, encouraging companies to use fungus and crustacean by-products.

Germany's use of chitosan as a natural preservative and packaging material addresses overfishing and waste management concerns in the chitosan production process, aligning with the country's environmental goal.

Is India a Good Chitosan Market?

The chitosan market in India is expected to reach $81.05 million by 2023, driven by the growing demand for organic farming. Chitosan, a natural fertilizer and soil conditioner, is expected to boost crop yields and plant development. The Indian government's efforts to promote sustainable agricultural methods and the increasing use of organic products are expected to further expand the chitosan sector.

Segments Covered in Chitosan Market

Chitosan Market By Source

• Shrimps
• Prawns
• Crabs
• Other Sources

Chitosan Market By Application

• Water treatment
• Cosmetics
• Pharmaceutical and Biomedical
• Food and Beverage
• Other Applications

Chitosan Market By Region

• North America
• Europe
• Asia Pacific
• Rest of the World

Frequently Asked Questions:

What is the current size of chitosan market?

The Chitosan Market Predictable at $9.12 billion in 2022, is estimated to increase at a CAGR of 21.85% from $18.65 billion in 2023 to $76.58 billion by 2030

Which are the driving factors of the chitosan market?

The increasing demand of chitosan in the end user industries and rising water treatment activities at the global level are the driving factors of the chitosan market.

What is the CAGR of chitosan market?

The global chitosan market is expanding at a compound annual growth rate (CAGR) of 21.85% from 2023 to 2030.

Who are the major players in the chitosan market?

The major players operating in the chitosan market are Primex EHF, Heppe Medical Chitosan GmbH, Vietnam Food, KitoZyme S.A., Agratech, Advanced Biopolymers AS (Norway), BIO21 Co., Ltd., G.T.C. Bio Corporation.

1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

3. Executive Summary

3.1. Market Snapshot

4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

5. COVID 19 Impact on Chitosan Market 

5.1. COVID-19 Landscape: Chitosan Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

8. Global Chitosan Market, By Source

8.1. Chitosan Market, by Source Type,

8.1.1. Shrimps

8.1.1.1. Market Revenue and Forecast

8.1.2. Prawns

8.1.2.1. Market Revenue and Forecast

8.1.3. Crabs

8.1.3.1. Market Revenue and Forecast

8.1.4. Other Sources

8.1.4.1. Market Revenue and Forecast

9. Global Chitosan Market, By Application

9.1. Chitosan Market, by Application,

9.1.1. Water treatment

9.1.1.1. Market Revenue and Forecast

9.1.2. Cosmetics

9.1.2.1. Market Revenue and Forecast

9.1.3. Pharmaceutical and Biomedical

9.1.3.1. Market Revenue and Forecast

9.1.4. Food and Beverage

9.1.4.1. Market Revenue and Forecast

9.1.5. Others

9.1.5.1. Market Revenue and Forecast

10. Global Chitosan Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Source

10.1.2. Market Revenue and Forecast, by Application

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Source

10.1.4.2. Market Revenue and Forecast, by Application

10.2. Europe

10.2.1. Market Revenue and Forecast, by Source

10.2.2. Market Revenue and Forecast, by Application

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Source

10.2.6.2. Market Revenue and Forecast, by Application

10.3. APAC

10.3.1. Market Revenue and Forecast, by Source

10.3.2. Market Revenue and Forecast, by Application

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Source

10.3.6.2. Market Revenue and Forecast, by Application

10.4. MEA

10.4.1. Market Revenue and Forecast, by Source

10.4.2. Market Revenue and Forecast, by Application

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Source

10.4.6.2. Market Revenue and Forecast, by Application

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Source

10.5.2. Market Revenue and Forecast, by Application

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Source

10.5.4.2. Market Revenue and Forecast, by Application

11. Company Profiles

11.1. Primex EHF

11.2. Heppe Medical Chitosan GmbH

11.3. Vietnam Food

11.4. KitoZyme S.A.

11.5. Agratech

11.6. Advanced Biopolymers AS (Norway)

11.7. BIO21 Co., Ltd.

11.8. G.T.C. Bio Corporation

11.9. Taizhou City Fengrun Biochemical Co., Ltd.

11.10. Zhejiang Golden-Shell Pharmaceutical Co., Ltd.

12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

13. Appendix

13.1. About Us

13.2. Glossary of Terms

Research Methodology