Chitosan Market By Source (Shrimp, Squid, Crab, Krill, Others) , By Application (Water treatment, Biomedical and Pharmaceutical, Cosmetics, Food and Beverage, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
The chitosan market was valued at $7.8 billion in 2023, and is projected to reach $42.8 billion by 2033, growing at a CAGR of 18.7% from 2024 to 2033.
Chitosan is a natural biopolymer that is synthesized in the outer skeleton of shellfish such as lobster, shrimp, and crab. This biopolymer is derived from chitin through a process of deacetylation, which converts it into chitosan. It exhibits a myriad of properties such as biocompatibility, biodegradability, antimicrobial activity, and antioxidant properties, which make suitable for use in a wide range of applications; for instance, it used in dietary supplements, food packaging, and in wound care.
The growth of the global chitosan market is majorly driven by surge in demand for chitosan from various industries, including healthcare, pharmaceuticals, food & beverages, and agriculture. Chitosan is non-toxic and compatible with human tissues, making it suitable for medical and pharmaceutical applications, including wound dressings, drug delivery systems, and tissue engineering. Its antimicrobial, biocompatible, and water retention properties aid in wound healing and skin care. For instance, according to the 2018 estimates of the European Centre for Disease Prevention and Control (ECDC), nearly 33,000 individuals die every year due to infection with antibiotic-resistant bacteria. This has necessitated the development of developing new antimicrobials from natural and synthetic molecules, which, in turn, has fostered the demand for chitosan in the medical sector. In addition, chitosan's exhibits the ability to bind with contaminants, including heavy metals and dyes, which makes it a sustainable choice for water treatment. In addition, as the world’s food demand is aligning with the increasing global population, the need for sustainable agricultural practices has increased notably. Chitosan serves as a sustainable alternative to conventional agrochemicals, thus fostering the adoption of safer agricultural practices. This is attributed to the fact that chitosan-based formulations can effectively control pests and diseases, reduce the need for chemical pesticides, and improve crop yields, which boosts its demand in the agricultural sector.
Some studies claim that chitosan assists in weight loss and lowers cholesterol levels by eliminating fat and cholesterol from the body instead of allowing the body to absorb them. However, current studies do not support this claim. Clinical trials conducted in the early 2000s found that chitosan did not facilitate fat excretion in stool, and there is no indication that it traps fat. Thus, such discrepancies hamper the demand for chitosan supplements, which significantly hampers the growth of the global market. High production costs of chitosan further acts as a key deterrent factor of the global market. Contrarily, surge in demand for chitosan as a natural preservative to extend the shelf life of food products due to its antimicrobial properties. Thus, manufacturers are focusing on the development of edible chitosan-based edible films and coatings to prevent the spoilage of food products, which is expected to offer remunerative opportunities for the growth of the market during the forecast period.
The chitosan market is segmented into source, application, and region. By source, the market is classified into shrimp, squid, crab, krill, and others. On the basis of application, it is divided into water treatment, biomedical & pharmaceutical, cosmetics, food & beverage, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsBy source, the shrimp segment held the highest market share in 2023 and is likely to retain its dominance by 2033.
Depending on application, the water treatment segment was the major shareholder in 2023 and is expected to continue the same trend during the forecast period.
Region wise, Asia-Pacific is expected to experience the fastest growth during the forecast period.
Competition AnalysisCompetitive analysis and profiles of the major players in the global chitosan market include PRIMEX EHF, ADVANCED BIOPOLYMERS AS, Panvo Organics Pvt Ltd., Heppe Medical Chitosan GmbH, G.T.C. Bio Corporation, Kitozyme S.A., Novamatrix, Agratech International, Inc., Golden-Shell Pharmaceutical Co. Ltd., and Qingdao Yunzhou Biochemistry Co. Ltd. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy SourceShrimp
Squid
Crab
Krill
Others
By ApplicationWater treatment
Biomedical and Pharmaceutical
Cosmetics
Food and Beverage
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market Players
PRIMEX EHF
ADVANCED BIOPOLYMERS AS
Panvo Organics Pvt Ltd.
Heppe Medical Chitosan GmbH
G.T.C. Bio Corporation
Kitozyme S.A.
Novamatrix
Agratech International, Inc.
Golden-Shell Pharmaceutical Co. Ltd.
Qingdao Yunzhou Biochemistry Co. Ltd.