Summary
Chitosan is a kind of polymer derived naturally from exoskeleton of crustaceans, insects and cell walls of fungi in the form of chitin, by a series of purification and treatment methods. Low allergenicity, low immunogenicity, non-toxicity, biocompatibility and biodegradability are few of the properties making Chitosan to be a versatile biomaterial. Chitosan market has been anticipated to be fragmented owing to various product grades in medicine, food & beverage, water treatment, cosmetics, obesity treatment, pharmaceuticals and industrial sectors depending upon the product purity.
Chitosan is used as a dietary supplement/nutraceuticals for lowering obesity and controlling serum cholesterol. Korea has approved chitosan as a natural food additive, expected to have a positive impact on the market. Thailand and China are few of the key shrimp producing countries and since, shrimps are a raw material for chitosan’s production, countries will have a key advantage in terms of raw material supply.
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Market Overview
The tissue engineering field utilizes chitosan as biomaterials owing to mechanical and structural properties enabling proper functioning for repaired tissues. The polymer has ability to heal a wound without any scar and have varied application in bio-based color cosmetics such as lipsticks, eye shadows, and nail polishes expected to propel demand in the cosmetic industry over the forecast period. Chitosan has a high tensile strength, porosity, high surface area, and conductivity allowing be easily molding and turning into films, beads, powder, sponges, fibers, gel and solutions implementing as a perfect raw material for various industrial markets.
Chitosan also removes impurities including oil, heavy minerals and phosphorous from water and is one of the most efficient material for the water treatment industry. Its capabilities as a chelating polymer in water treatment industry is considered to be the key driver for the growth of chitosan’s demand globally. Thus, based on the account of chitosan’s demand in the nutraceutical and water treatment market, it is predicted to witness a significant growth over the forecast period.
Abundant availability of raw materials, rising application scope in cosmetics industry, and increasing demand for pharmaceutical sector are few key drivers enhancing the growth for the market. However, the chitosan market may hinder by high cost involvement and lack of purity during manufacturing process. Moreover, growing application of chitosan as a bioplastic has been predicted to pave new opportunities for the market over the forecast period.
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Market Top Vendors
The key players in the chitosan market include., Advanced Biopolymers AS, Qingdao Yunzhou Biochemistry Co., Ltd, United Chitotechnologies Inc., Biophrame Technologies, Koyo World Hong Kong Co, Limited, Agratech LLC., Dainichiseika Color & Chemicals Mfg.Co.,Ltd., Kraeber & Co. GmbH, Foodchem International Corporation and FMC Corporation.
Chitosan has diversified application as a biological agent owing to the efficiency as an anti-microbial and antifungal agent, propelling the demand in medicine as well as agricultural sector. Chitosan and derivatives possess antitumor activity and has increased the demand in various healthcare and cancer research organizations. Pharmaceutical industries utilize chitosan as a drug delivery agent and for manufacturing vaccines, nucleic acids, micelles, hydrogels, tablets, microspheres, conjugates and nanoparticles.
Market Segments
The global chitosan market has been segmented by source, application and end-users. On the basis of sources, the chitosan industry has been segregated as shrimp, crabs, krill, squids, localized chitosan devices products, and cryochambers & cryosaunas products. Based on application, the global industry has been bifurcated by Water Treatment, Biomedical & Pharmaceuticals, Cosmetics, Food & Beverages, and others. End-User segment has been further divided as hospitals & specialty clinics, chitosan centers, spas & fitness centers, and other.
Water treatment segment has been expected to lead the chitosan market, followed by biomedical & pharmaceuticals. Growing demand in waste water treatment to remove impurities including oil, heavy minerals and phosphorous is expected to be the key driver for the market growth over the forecast period. The biomedical applications of chitosan have proliferated as a result of extensive research activities.
The U.S. market has comparatively fewer manufacturers with insufficient suppliers of high purity product which is expected to hamper the industry growth. Over the past few years, the Asian countries have supplied chitosan to this region. However, upcoming key players such as FMC Corporation and Agratech LLC are expected to open new avenues for the growth over the forecast period. Henceforth, the Japanese manufacturers are likely to face a strong competition from the emerging players from countries such as India, China and the U.S. owing to product penetration in the end-use industries and the rapid growth in the region.
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