According to a new report, published by KBV research, 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 Industrial segment is leading the Global Chitosan Market by Grade in 2022; thereby, achieving a market value of $17.1 billion by 2030. Advances in chitosan extraction techniques, formulation technologies, and product development have expanded the potential applications of industrial-grade chitosan. Companies are investing in research and innovation to enhance chitosan-based products' performance, functionality, and cost-effectiveness. Thus, the segment will expand rapidly in the coming years.
The Cosmetics segment is anticipating a CAGR of 18.2% during (2023 - 2030). As research on chitosan's beneficial properties continues, consumers are becoming more aware of its potential advantages for skin health and beauty. Cosmetic companies continuously innovate to develop new formulations catering to specific skincare concerns. Chitosan's versatile properties make it suitable for various cosmetic products, including hair care, skincare, and makeup. Therefore, these factors can drive the expansion of the chitosan market.
Full Report: https://www.kbvresearch.com/chitosan-market/
The Asia Pacific region dominated the Global Chitosan 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. The North America region is experiencing a CAGR of 16.7% during (2023 - 2030). Additionally, The Europe region would exhibit a CAGR of 16.9% during (2023 - 2030).
By Grade (Volume, Kilo Tonnes, USD Billon, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billon, 2019-2030)
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