Chitin is the second-most abundant organic compound in nature and naturally occurs as a fibre forming polymer that plays a protective role in many lower eukaryotes similar to that of cellulose in plants. It is a long chain unbranched polysaccharide consisting of N-acetylglucosamine residues connected through β1,4 covalent bonds. Chitin plays an important role in biological structures such as insect peritrophic matrix, fungal cell walls, crustacean cuticles, cyst wall of protozoa and eggshells from nematodes.

Chitin Market Taxonomy

On the basis of product type, the global chitin market is classified into:

α-Chitin

β-chitin

On the basis of end-use industry, the global chitin market is classified into:

Healthcare

Agriculture

Paper and Pulp

Personal care products

Biotechnology

Chitin Market Outlook – Rising Demand in Healthcare and allied Industries to be the Major Market Driver

Asia Pacific and North America are expected to be the most potential markets for chitin manufacturers. This owing to the rapidly growing healthcare industry coupled with growing medical tourism in developing countries such as India. According to IBEF, Indian healthcare industry is expected to reach at USD 280 billion by 2020. In the Union Budget 2017-18 of India, the health budget was increased from USD 5.96 billion to USD 7.3 billion. The Indian healthcare industry is budding swiftly due to its firming coverage, services and high expenditure by public and private players.

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Major Keyplayers: Biothera, Navamedic ASA, Kunpoong Bio Co. Ltd., Advanced Biopolymers AS, CarboMer Inc., Heppe Medical Chitosan GmbH, Sonat Co., United Chitotechnologies Inc., Meron Biopolymers, Dalian Xindie Chitin Co. Ltd., QBas Co., TaizhouCandorly Sea Biochemical & Health Products Co. Ltd and PrimexEhf.

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