The Global Chitosan Market is anticipated to grow traction due to the factors like changing lifestyle and increasing in the number of life style diseases like obesity & cardiovascular disorders.
Chitosan is a natural biopolymer, derived from chitin. It is a sugar obtained from the hard outer skeleton of shellfish such as crab, lobster, and shrimp. Chitosan offers health benefits by blocking absorption of dietary fat and cholesterol. Chitosan is used for the treatment of high cholesterol, obesity, loss of strength and appetite, and insomnia. Application of chitosan on gums also assists in the treatment of periodontitis. Applying N-carboxybutyl chitosan helps in healing of wounds and scars after plastic surgery. Its other applications include water treatment, pharmaceutical, and food and beverages.
Chitosan offers nutritional benefits, which is currently driving the thriving market. The growing obesity and increasing lifestyle diseases have encouraged the intake of chitosan by consumers. The busy and fast paced schedules of consumers, sedentary lifestyle, increasing disposable income, and increasing launch of innovative products by market players drive the growth of this market. The increasing demand for chitosan from the cosmetics and personal care sectors along with growing health awareness among consumers accelerates the growth of the chitosan market. There has been an increased demand of chitosan from emerging economies of Asia-Pacific owing to increasing disposable incomes and improving lifestyles. Global players are expanding their business in this region to increase their customer base and improve the geographical outreach.
The global Chitosan market is segmented on the basis of source, application, and geography.
Geographically, the global Chitosan market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
On the basis of geography, Asia-Pacific is expected to grow at the highest CAGR during the forecast period. A significant rise in the health awareness has been registered over the past few years in China, Japan, and India, which has supported the market growth in the region. The growing demand from the food & beverage, pharmaceutical and cosmetics sectors boosts the adoption of chitosan. Increasing awareness regarding health benefits of chitosan, and increasing disposable incomes augment the chitosan market growth. Leading global players are innovating and developing new products to tap the growth opportunities offered by this region.
Key players in the global Chitosan market are: