Chitosan Market to See High Growth in Upcoming Year by 2029
The global chitosan market size is expected to experience a substantial growth owing to the increasing prevalence of chronic disease and the growing demand for cosmetics that boosts the demand for the product across the globe. This information is published by Fortune Business Insights, in its upcoming report,
The pandemic situation, owing to the novel coronavirus has kept the world economy reeling and mostly negative. The effects were felt on the industrial sector as the halt of operations led to a complete disruption in the supply chain of the products. However, the increasing demand for bio-based organic food products and dietary supplements are driving the companies to resume operations by practicing all the required safety measures.
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Chitosan is generally a sugar extracted from the hard outer skeleton of shellfish such as lobster, crab, and shrimp. They are extensively adopted in several industrial applications that include food & beverage, and pharmaceutical industry among others. In addition to this, it is effective in arresting the flow of blood during surgeries and prevents blood clots. It is further used as a preservative to improve the shelf-life of the food products.
What does the Report Include?
The report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides a comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.
Increasing Prevalence of Chronic Disease to Surge Demand
The increasing incidence of chronic diseases such as obesity, Crohn disease, high cholesterol levels, kidney ailments, and others is expected to favor the demand for chitosan that is adopted to mask the bitterness of medicines in the pharmaceutical industry. According to the World Health Organization (WHO), around a third of the ischaemic heart disease is attributable owing to the high cholesterol levels in patients across the globe. In addition to this, the surging demand for cosmetics owing to changing lifestyle preferences is expected to drive the global chitosan market during the forecast period.
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Increasing Demand for Bio-based Products in Asia-Pacific to Favor Growth
Among all the regions, Asia-Pacific is expected to remain at the forefront and hold the largest global chitosan market share in terms of revenue during the forecast period. This dominance is attributable to the increasing demand for bio-based chitosan products owing to the depletion of natural resources and the surging demand for adopting renewable energy sources in the region.
The market in North America is anticipated to showcase a significant growth backed by the rising pharmaceutical sector that is leading to the development of enhanced drugs that contain chitosan in countries such as the U.S. between 2020 and 2027.
Major Companies Focus on Launching Innovative Products to Consolidate Their Market Positions
The global chitosan market comprises of several major companies that are striving to strengthen their positions and gain a competitive edge over their rivals. They are doing so by focusing on introducing innovative chitosan products and maintain their stronghold in the global marketplace. The adoption of strategies such as collaboration and partnership by key players is further anticipated to contribute to the growth of the market in the forthcoming years.
- February 2019 – Axio Biosolutions announced the launch of its new product, MaxioCel, a next-gen wound care dressing produced from chitosan. According to the company, the product aids in fast-paced healing of chronic wounds in patients.
List of the Companies Profiled in the Global Market for Chitosan:
- Qingdao Yunzhou Biochemistry Co.
- Advanced Biopolymers AS
- Panvo Organics Pvt. Ltd.
- Meron Biopolymers
- Heppe Medical Chitosan GmbH
- KitoZyme S.A
- Foodchem International Corporation
- Primex EHF
- Golden-Shell Pharmaceutical Co. Ltd.
- Chitinor AS
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