The global chitosan market is experiencing growth, according to P&S Intelligence. This growth can be credited to the increasing acceptance of chitosan in food and beverage, agrochemical, wastewater purification, pharmaceutical, cosmetic applications, and bioplastic.
Chitosan is recyclable and non-toxic, and it is produced from a natural source, which supports the above-mentioned businesses maintain sustainability and boosts the demand for this material in biomedical and pharmacologic applications.
In the past few years, the shrimp category had the largest market share, in terms of both volume and revenue, based on the source. Moreover, this category is projected to show a substantial growth rate in the coming few years. This is mainly because of the high content of chitin in shrimp shells and the growing demand for shrimp chitosan for purifying wastewater and as an element in food preservatives.
In recent years, the water treatment category had the largest share of the chitosan market, and the category is projected to experience a significant development rate in the near future. This can be credited to the thickening capability of chitosan on both the biological and inorganic matter existing in the water. Furthermore, it also supports eliminating dyes and flocculation, while doing the water treatment.
In the past few years, the industrial category had the largest share in the chitosan market, on the basis of grade. This can be credited to the increasing mechanization rate worldwide, which is boosting the consumption of industrial-grade chitosan in medical and pharmaceuticals, cosmetics, and water treatment applications.
Worldwide, the APAC region led the industry for chitosan in recent years. Furthermore, the industry is projected to experience the fastest growth in the coming few years. This can be credited to the chelating property of chitosan, which makes it suitable for the treatment of heavy metal-laden industrial wastes. By the way, the high expenditure being made by private and government establishments for water treatment in India, China, and Malaysia would drive the growth of the market.