Chitosan Market Forecast, Growth, and Trends 2031

The Chitosan Market size is projected to reach US$ 7.06 billion by 2031 from US$ 2.95 billion in 2023. The market is expected to register a CAGR of 11.5% in 2023–2031. Growing demand for eco-friendly alternatives across the end-use industries, is likely to remain key chitosan market trends.

Chitosan Market Analysis

Multi-functionality of chitosan and growing application of chitosan in cosmetics industry has aided the market growth of chitosan. It is recognized as a versatile biomaterial due to its non-toxicity, low allergenicity, biodegradability, and biocompatibility. Owing to these properties, it is used in a wide range of applications such as food & beverages, water treatment, medical & pharmaceuticals, cosmetics, and agrochemicals. Due to its tangible property of adsorption, chitosan has found a profound place in the water treatment application to adsorb metals, iron, toxic substances, and other impurities from the wastewater. Chitosan and its cationic derivatives have the potential to interact with keratin to form transparent, elastic films over hair. These films help in increasing hair strength, hair softness, and avoid hair damage. With the increasing demand for hair care products, the application of chitosan in haircare products is estimated to boost the market all over the globe. It has been estimated that the application of chitosan in the haircare and cosmetic products is estimated to be growing at a swift pace and will contribute to the expansion and development of the chitosan market all over the globe.

Chitosan Market Overview

Chitosan is a biocompatible and biodegradable polysaccharide, naturally derived from deacetylation of chitin, found in exoskeleton of crustacean and insects. Functional groups present in chitosan significantly impact its properties such as anti-microbial activity, pH stability, cationic nature, and mucoadhesion. Chitosan is available in various forms such as nanofibers, nanoparticles, nanocomposites, chitosan beads, and chitosan films. Chitosan is extensively used in pharmaceutical and biomedical sector. Furthermore, chitosan is highly researched for development of biomaterials and systems for tissue engineering and drugs development.

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Chitosan Market: Strategic Insights

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Chitosan Market Drivers and Opportunities

Growing Application of Chitosan in the Cosmetics Industry to Favor Market

The rising emphasis on bioingredients and the transition of cosmetics industry towards green cosmetics supported by international regulations drive the demand for chitosan. Chitosan and its derivatives offer physicochemical and biological properties for formulating cosmetic products. One of the essential benefits of chitosan in the cosmetics industry is its utilization as a moisturizing agent to keep the skin hydrated and nourished. Chitosan is used in prevention of UV-induced skin dryness, epidermal hyperplasia, and wrinkle formation. The growing application of chitosan in the cosmetics industry, are major drivers of global chitosan market share.

Adoption of Chitosan for Development of Nanocomposites – An Opportunity in Chitosan Market

Chitosan-based nanocomposites offer several properties such as improved mechanical strength, thermal stability, barrier properties and other functionalities, making them suitable for broad application range. Chitosan-based nanocomposites are used in agricultural applications for controlled release fertilizers and pesticides. It is used to enhance plant growth and protect against pathogens. It is also used as the active food packaging material. Thus, adoption of chitosan for development of nanocomposites is expected to have a positive impact on the chitosan market.

Chitosan Market Report Segmentation Analysis

Key segments that contributed to the derivation of the chitosan market analysis are grade, source, and application.

• Based on grade, the chitosan market is divided into industrial grade, food grade, and pharmaceutical grade. Industrial grade segment held a larger market share in 2023.
• By source, the market is segmented into shrimp, prawns, insects, crab, and others. The shrimp segment held the largest share of the market in 2023.
• In terms of application, the market is categorized into water treatment, food and beverages, biomedical and pharmaceuticals, cosmetics, and others. The water treatment segment dominated the market in 2023.

Chitosan Market Share Analysis by Geography

The geographic scope of the chitosan market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

Asia Pacific has dominated the chitosan market. Factors such as rapid development of end-use industries such as water treatment, food and beverages, biomedical and pharmaceuticals, and cosmetics in Japan, China, India, and South Korea are boosting the demand for chitosan in the Asia Pacific region. For instance, products such as glucosamine and chit oligosaccharides are considered safe for use in dietary supplements, according to the Korea Food & Drug Administration. Likewise, in Japan, it is filed on the food additives in the list provided by The Japan Food Chemical Research Foundation. The surging demand for chitosan in the Asia Pacific is primarily driven by water treatment, food & beverages and pharmaceutical applications. Growing demand from manufacturing artificial skin and in wound dressing is also expected to positively impact the growth of the chitosan market in the Asia Pacific.

Chitosan Market Regional Insights

The regional trends and factors influencing the Chitosan Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Chitosan Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Chitosan Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Chitosan Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Chitosan Market are:

1. KitoSano SL
2. Advanced Biopolymers AS
3. FMC Corporation
4. GTC Bio Corporation
5. Golden-Shell Pharmaceuticals
6. Heppe Medical Chitosan GmbH

Disclaimer: The companies listed above are not ranked in any particular order.

Chitosan Market News and Recent Developments

The chitosan market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion and strategies:

• In March 2023, Heppe Medical Chitosan GmbH developed a new chitosan technology for the efficient release of mRNA active ingredients. The technology aims to ensure that drugs for the treatment of serious diseases can be better absorbed as well as processed by the body. (Source: Heppe Medical Chitosan GmbH, Press Release)
• In March 2023, the researchers at the University of Stuttgart developed a green composite material made from flax and chitosan. (Source: University of Stuttgart, Newsletter)
• In November 2022, Alpha Chitin and Novochizol SA announced a joint venture to produce a chitosan-based polysaccharide. (Source: Novochizol SA, Press Release)

Chitosan Market Report Coverage and Deliverables

The “Chitosan Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles