The global chitosan market is expected to grow at a significant rate during the forecast period. This is attributed to its increasing demand in pharmaceutical industry due to its various uses such as; it is used to treat complications such as kidney failure, anemia, loss of strength and appetite, and others. It is used to treat various medical conditions including high cholesterol and obesity.
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Easy and abundant availability, unique properties, and growing awareness related to its health benefits are the major growth drivers identified in the chitosan market. Chitin is the second most abundant resource in the world following cellulose, which is becoming a major attraction for the various industries. Chitin is estimated to be produced annually as much as cellulose in the coming years, as it is a high potential resource.
The growing awareness about health across the globe is expected to drive the chitosan market growth. The APAC is the largest contributor in the chitosan market and held the largest share in the market. The regional market is expected to register the fastest growth during the forecast period.
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The various key players in the chitosan industry are investing heavily in carrying out the research and development activities for the development of new and improved production processes and technologies for chitosan manufacturing.
Chitosan AS, Mahtani chitosan Pvt. ltd., AgraTech, JBIChem International, Primex ehf, Heppe Medical Chitosan GmbH, Vietnam Food, Advanced Biopolymers AS, G.T.C. Bio Corporation and KitoZyme S.A are some of the key players in the chitosan market.
Source: VynZ Research