“Global Chitosan Market to reach a market value of USD 36.2 Billion by 2030 growing at a CAGR of 17.2%”
The Global Chitosan Market size is expected to reach $36.2 billion by 2030, rising at a market growth of 17.2% CAGR during the forecast period. In the year 2022, the market attained a volume of 432.43 kilo tonnes, experiencing a growth of 16.5% (2019-2022).
The increasing demand for it in water treatment is driven by its effectiveness as a natural and biodegradable coagulant. Thus, the water treatment captured 32.1% revenue share in the market 2022. This is generally considered safe and non-toxic, making it suitable for use in drinking water treatment applications. Unlike some synthetic coagulants, it is biodegradable, making it a more environmentally friendly option for water treatment. Therefore, these factors can drive the expansion of the segment.
Advancements in processing parameters, such as temperature, pH, and solvent selection, have optimized its extraction process, further improving efficiency and cost-effectiveness. By fine-tuning these parameters, researchers have achieved higher yields while reducing energy consumption and resource utilization.
Additionally, as per the data from Invest India, for the fiscal year 2022-23, agriculture and allied sectors will contribute 18.3% of the gross value added to the overall Indian economy. For the initial nine months of fiscal year 2022-23 (April-December), agricultural and processed food product exports surged by 13% to $19.69 billion, surpassing the corresponding period of fiscal year 2021-22.
However, fluctuations in shellfish supply pose a significant obstacle to its production. Factors such as changes in fishing quotas, natural disasters affecting shellfish populations, and shifts in consumer demand can lead to unpredictability in the availability of raw materials. Additionally, environmental regulations to preserve marine ecosystems may impose restrictions on shellfish harvesting, further complicating the procurement process. Thus, these factors can lead to a decreased demand for it in the coming years.
On the basis of application, the market is divided into water treatment, medical & pharmaceuticals, agrochemicals, cosmetics, food & beverages, and others. In 2022, the medical & pharmaceuticals segment witnessed 21.6% revenue share in the market. The growing incidence of chronic diseases, such as cancer, diabetes, and cardiovascular disorders, has fueled the demand for innovative pharmaceutical formulations.
Based on grade, the market is segmented into industrial, food, and pharmaceutical. The industrial segment held 48.5% revenue share in the market in 2022. Advances in its extraction techniques, formulation technologies, and product development have expanded the potential applications of industrial-grade chitosan.
Free Valuable Insights: Global Chitosan Market size to reach USD 36.2 Billion by 2030
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The North America segment procured 26.3% revenue share in the market in 2022. Government initiatives promoting the use of biodegradable materials and sustainable practices have further impetus to the growth of the market in North America.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 10.2 Billion |
| Market size forecast in 2030 | USD 36.2 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 17.2% from 2023 to 2030 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Number of Pages | 271 |
| Number of Tables | 570 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Grade, Application, Region |
| Country scope |
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| Companies Included | Foodchem International Corporation, FMC Corporation, Qingdao, Yunzhou Biochemistry Co., Panvo Organics Pvt. Ltd., Advanced Biopolymers AS, Meron, Heppe Medical Chitosan GmbH, KitoZyme S.A, Kraeber & Co. GmbH, Golden-Shell Pharmaceutical |
By Grade (Volume, Kilo Tonnes, USD Billon, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billon, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billon, 2019-2030)
The Market size is projected to reach USD $36.2 billion by 2030.
Advancements in chitosan production techniques are driving the Market in coming years, however, Lack of standardization and regulatory uncertainty restraints the growth of the Market.
Foodchem International Corporation, FMC Corporation, Qingdao, Yunzhou Biochemistry Co., Panvo Organics Pvt. Ltd., Advanced Biopolymers AS, Meron, Heppe Medical Chitosan GmbH, KitoZyme S.A, Kraeber & Co. GmbH, Golden-Shell Pharmaceutical
In the year 2022, the market attained a volume of 432.43 kilo tonnes, experiencing a growth of 16.5% (2019-2022).
The Industrial segment is leading the Market by Grade in 2022; thereby, achieving a market value of $17.1 billion by 2030.
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $16.6 billion by 2030.
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