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Research Reports

Chitosan Market is likely to reach US$ 1.09 Billion by 2031| Analysis by Future Market Insights Inc. 

According to FMI, the North America chitosan market is expected to offer lucrative growth opportunities over the forecast period. In 2021, the U.S. is expected to hold over 80% of the market.

NEWARK, Del: The global chitosan market is growing at a steady pace owing to the increasing application of chitosan in the treatment of cancer, diabetes, and tuberculosis. As per a study by Future Market Insights (FMI), the market has registered a CAGR of over 12.1% during 2016-2020 and is likely to exhibit a CAGR of over 14.3% through the forecast period.

According to the World Health Organization (WHO), around 10 million new cases of tuberculosis were recorded in 2019 and over 1.4 million people died because of the disease across the globe. Several studies have shown that the use of chitosan-based products assists in the cure of tuberculosis. Considering this, the demand for chitosan is expected to grow in the coming years.

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Chitosan helps in the treatment of obesity and weight management resulting in increasing demand from the dietary supplements segment. The segment is dominating the chitosan market and is expected to account for over 35% of the market share by 2021 resulting in propelling the growth of chitosan market.

Asia-Pacific dominated the global chitosan market with the largest market share in 2019, owing to the availability of crustacean waste and the rapid development of end-use industries in China, Japan, South Korea, and India.

“Leading market players are investing in R&D for launching new products to cater to the increasing demand from dietary supplement and organic cosmetic application segment. Besides this, some of the market players are emphasizing on expanding their manufacturing facilities globally to strengthen their market presence,” says the FMI analyst. 

Key Takeaways

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Key Drivers

Key Restraints

  • High production cost is restraining the growth of the chitosan market.
  • The lengthy and time-consuming process for manufacturing chitosan might hamper the market growth.
  • Lack of raw material is a factor negatively affecting the growth of the chitosan market.

Competitive Landscape

Companies operating in the chitosan market are focusing on expanding their product portfolio by developing a wide range of chitosan-based products according to the application of the end-use industries. For instance,

  • Axio Biosolutions launched its new product named, MaxioCel, a next-generation wound care dressing chitosan-based product in 2019.
  • Friesland foods kievit, a Germany-based company, has created a new encapsulating technology to increasing the use of chitosan as a natural product. Friesland foods kievit has established a distinct business organization named, Kievit Ventures.

Leading players profiled by FMI operating in chitosan market include:

  • Agratech (KYTOSAN USA, LLC)
  • Austanz Chitin Pty Ltd.
  • CarboMer, Inc.
  • Golden-Shell Pharamceuticals Co. Ltd
  • Heppe Medical Chitosan GmbH
  • KIMICA Corporation
  • Kitozyme, LLC
  • Kraeber & Co. GmbH
  • Meron Group

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https://www.futuremarketinsights.com/customization-available/rep-gb-11443

More Insights on FMI’s Chitosan Market

The latest market study on global chitosan market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented

  • By Form:
    • Liquid
    • Powder
  • By Source:
    • Shrimp
    • Crab
    • Lobster
  • By End Use:
    • Food Additive
    • Dietary Supplements
      • Crohn’s Disease
      • Dental Cavities
      • Anemia
      • Periodontists
      • Weight Loss
      • Sports Nutrition
      • Immune & Digestive Health
      • Bone & Joint Health
      • Heart Health
      • Other Specific Requirements

Report Preview: https://www.futuremarketinsights.com/reports/chitosan-market 

Read Other Related Reports:

Chitosan Powder Market Size: The global demand for chitosan powder is forecast to grow at a healthy CAGR of around 6.38% CAGR during the forecast period between 2022 and 2032

Chitosan Oligosaccharides Market Share: The global chitosan oligosaccharides market holds a forecasted share of US$ 2.5 billion in 2022 and is anticipated to transcend US$ 9.8 billion by the end of 2032.

Flax Protein Market Trend: The flax protein market is estimated to secure a valuation of US$ 34 Billion in 2023 and is estimated to rise to US$ 57.5 Billion by 2033.

Polydextrose Ingredients Market Growth: The polydextrose Ingredient market is estimated to secure a valuation of US$ 176 Million in 2023 and is estimated to rise to US$ 255.5 Million by 2033.

Concentrated Whey Market Sales: The concentrated whey market is estimated to secure a valuation of US$15.3 Billion in 2023 and is estimated to rise to US$ 27.9 Billion by 2033.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,

Suite 401, Newark, Delaware – 19713, USA

T: +1-845-579-5705

LinkedIn| TwitterBlogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com

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