Chitosan Market Size, Share & Trends Analysis Report By Application (Pharmaceutical, Water Treatment, Cosmetics, Biomedical, Food & Beverage), By Region, And Segment Forecasts, 2023 - 2030

Chitosan Market Size, Share & Trends Analysis Report By Application (Pharmaceutical, Water Treatment, Cosmetics, Biomedical, Food & Beverage), By Region, And Segment Forecasts, 2023 - 2030

Chitosan Market Growth & Trends

The global chitosan market is expected to reach USD 47.06 billion by 2030, registering a CAGR of 20.1% from 2023 to 2030, as per the new report by Grand View Research, Inc. The increasing demand for naturally derived products in dietary supplements, as well as agricultural applications, is expected to have a positive impact on the market growth during the forecasted period. Additionally, abundant raw material availability and ongoing R&D activities, to broaden its application scope, are the factors expected to propel the demand for chitosan during the next few years.

Chitosan is the most abundant available bio-polymer and is obtained primarily from crustacean waste. Dried shrimp waste is the most common raw material for the synthesis of chitin, which further is deacetylated to produce chitosan. In addition, various other crustacean animals including crabs, crayfish, lobsters, and krill shells are also used to manufacture chitosan. Furthermore, Belgium-based Kitozyme has developed a new technology that uses vegetable sources to produce chitosan.

Commercially, the product is manufactured using chemical and biotechnological processes. Among these, chemical processes are currently the most widely used methods for chitosan manufacturing at an industrial scale as well as in laboratory production. The chemical process involves using strong acids and bases such as acetone, hydrochloric acid, nitric acid, and sulfuric acid. However, hydrochloric acid, owing to its high efficiency in the removal of minerals, is used on a larger scale as compared to others by the chitosan manufacturers.

Chitosan can increase the water-holding capacity of the keratin layer; thus, its demand is expected to increase in various hair care products including setting lotions, shampoos, coloring products, and hairspray. Furthermore, the rising application scope of chitosan in manufacturing dental care products including mouthwash, toothpaste, and tooth gels is further likely to boost the market growth. Moreover, the rising demand for chitosan in manufacturing deodorants and foot powders is also expected to have a positive impact on market growth.

The demand for bio-based polymers used for domestic and industrial wastewater treatment has increased during the past few years. Additionally, rising consumer concerns regarding water purity and safety coupled with innovations in the field of water treatment are expected to have a positive impact on the market growth during the forecasted period.

Chitosan Market Report Highlights

• Food & beverage emerged as the fastest-growing application segment with a CAGR of 22.5%. Increasing demand for the product as an antimicrobial agent in food processing and its packaging is anticipated to be a key driver for the market growth during the forecast period
• The cosmetics application segment will grow significantly during the forecast period, due to the increasing demand for bio-derived personal care products. This is estimated to be a key driver for the market growth
• Asia Pacific region is projected to witness notable growth in the near future owing to increasing demand for bio-based ingredients in medicine manufacturing
• Central & South America is the fastest-growing region with a CAGR of 23.0%. Growing demand for natural and organic ingredients from the pharmaceutical and cosmetics industry is expected to be the key reason for the industry growth during the forecast period
• China accounts for the major share of the market, which is expected to offer easy availability of raw materials for the manufacturers. Growing demand for bio-based personal care products in the region is predicted to have a positive impact on the market in the near future
• The key players across all the regions are expected to focus more on product quality, increase production volumes, and lower the product cost to sustain and strengthen their presence in the market