Rising demand for chitosan in water treatment processing is a key driving factor driving market revenue growth.

VANCOUVER, BRITISH COLUMBIA, CANADA, June 7, 2024 /EINPresswire.com/ -- The global chitosan market size was USD 1.01 Billion in 2022 and is expected to register a rapid revenue CAGR of 15.7 % during the forecast period. The global chitosan market is experiencing significant growth, driven by increasing demand in water treatment processes. Chitosan, a natural biopolymer derived from shrimp shells and other sources, is known for its effective properties in wastewater treatment, making it a critical component in efforts to improve water quality globally.

Download Free Exclusive Sample PDF@ https://www.emergenresearch.com/request-sample/2649

Market Drivers

A key factor driving the chitosan market is the focus on innovative programs for wastewater treatment by government organizations. In December 2022, the National Institute of Health introduced the National Pollutant Discharge Elimination System (NPDES) permit to protect the quality of water bodies receiving wastewater discharges. This regulatory move underscores the importance of improving water quality, aligning with the United Nations' goal to enhance water quality by 2030.

The rapid expansion of the medical and pharmaceutical industries is another significant driver of market growth. Chitosan is utilized in various medical treatments, including obesity management, immune therapy, gene therapy, and knee treatments. The National Institute of Health (NIH) has highlighted chitosan's role in enhancing chondrocyte proliferation and inhibiting inflammatory mediators, which is crucial for treating osteoarthritis and other conditions.

Key Developments

Leading players in the chitosan market are continuously developing new products. For instance, Kiomed Pharma has partnered with Hansoh Pharmaceutical to create and commercialize a carboxymethyl chitosan-based injection for treating knee osteoarthritis. Such collaborations are expected to drive market revenue growth.

Market Restraints

Despite the positive outlook, the market faces challenges due to regulations against shrimp farming, a primary source of chitosan. Shrimp farming, particularly in tropical climates, often leads to pollution issues, necessitating stringent environmental regulations. For example, India's Coastal Aquaculture Amendment Act 2023 aims to address environmental concerns associated with shrimp farming. In the U.S., the Food and Drug Administration (FDA) has implemented the Hazard Analysis Critical Control Point (HACCP) framework to ensure food safety in aquaculture farming.

Segment Insights

Chitosan Source Insights: The global chitosan market is segmented by source into shrimps, crabs, prawns, lobsters, white mushrooms, and others.

Shrimps: The shrimp segment dominated the market in 2022, attributed to chitosan's abundance and commercial production from shrimp shells. According to the World Wildlife Organization (WWF), farmed shrimps account for 55% of global shrimp production, with major aquaculture activities in China, Thailand, Indonesia, and Bangladesh. The rising adoption of natural chitosan sources by food and beverage and personal care product manufacturers further boosts this segment.

Crabs: The crab segment is expected to witness steady growth due to chitosan's biocompatibility, making it suitable for various medical applications such as drug delivery and wound healing.

Interested in knowing more relevant information? Click here: https://www.emergenresearch.com/industry-report/chitosan-market

Chitosan Application Insights: The market is also segmented by application into food and beverages, water treatment, medical and pharmaceuticals, cosmetics, agrochemicals, and others.

Water Treatment: This segment is anticipated to hold a significant market share during the forecast period. Chitosan's properties, including faster deposition rates and higher removal efficiency for suspended solids and metal ions, make it ideal for various water treatment applications. Its biocompatibility, biodegradability, and non-toxicity are crucial for these uses.

Medical and Pharmaceuticals: The medical and pharmaceuticals segment is projected to register moderate growth. The use of chitosan in drug delivery, wound healing, and tissue engineering, combined with ongoing research and development projects, is expected to drive this segment's revenue growth.

Chitosan Top Companies and Competitive Landscape

The global chitosan market is fragmented, with several key players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new products and solutions in the market.

Some major players included in the global chitosan market report are:

Heppe Medical Chitosan GmbH

Kitozyme, LLC

Primex ehf

Advanced Biopolymers AS

GTCbio

BIO21 COMPANY LIMITED

Golden-Shell Pharmaceutical

Panvo Organics

DuPont

KIMICA Corporation

Meron

Biophrame Technologies

chitotech

Austanz Chitin Pty Ltd.

KiOmed Pharma

Chitosan Latest Industry News

On 5 January 2023, Nano medical a Czech Republic-based nanofiber launched 2 medical products under its brand name ChitoFib to protect wounds from contamination and promote and accelerate healing. The nanostructure combined with biopolymers supports cell proliferation and creates a natural structure for areal wound healing.

On October 2022, Chitogen Inc., a U.S. based medical manufacturing company signed a statement of intent with Tru Shrimp to purchase commercial quantities of chitosan produced from the ground-up exoskeletons of farm-raised shrimp.

Buy the full research report at @ https://www.emergenresearch.com/select-license/2649

Chitosan Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global chitosan market on the basis of source, grade, application, and region:

Source Outlook (Revenue, USD Billion; 2019-2032)

Shrimps

Crabs

Prawns

Lobsters

White Mushroom

Others

Grade Outlook (Revenue, USD Billion; 2019-2032)

Pharmaceutical Grade

Industrial Grade

Food Grade

Application Outlook (Revenue, USD Billion; 2019-2032)

Food and Beverages

Water Treatment

Medical and Pharmaceuticals

Cosmetics

Agrochemicals

Others

Regional Outlook (Revenue, USD Billion; 2019-2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of Middle East & Africa

Customization Report@ https://www.emergenresearch.com/request-for-customization/2649

Look Over transcripts provided by Emergen Research

Green Coating Market

https://www.emergenresearch.com/industry-report/green-coating-market

Mobile Payment Market

https://www.emergenresearch.com/industry-report/mobile-payment-market

Catheter Market

https://www.emergenresearch.com/industry-report/catheter-market

Natural Fiber Composites Market

https://www.emergenresearch.com/industry-report/natural-fiber-composites-market

About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.