The Global Market for Chitin and Chitosan Derivatives is Forecast to Reach 155.5 Thousand Metric Tons by 2022

Growing Investments in Drug Discovery & Emerging New Biomedical Applications Drive the Chitin & Chitosan Derivatives Market, According to a New Report by Global Industry Analysts, Inc.

                                                                                                

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Chitin and Chitosan Derivatives market. The global market for Chitin and Chitosan Derivatives is forecast to reach 155.5 thousand metric tons by 2022, driven by the growing investments in new drug development, attractive biomedical applications and emerging non-medical uses such as in detoxification of water and wastewater.    

Chitin and chitosan form a novel category of versatile biomaterials led by their unique chemical, physical, and biological properties. Over the years, these biopolymers have attracted wide commercial interests in various applications ranging from food industry, biomedicine, cosmetics, agriculture to the textile industry, and beyond. Chitin is a primarily a polysaccharide which forms the structural element of exoskeleton of crustaceans, insects, and cell walls of fungi and planktons. Chitosan is deacetylated chitin derivative and owing to exclusive properties such as biodegradability, chemical inertness, biocompatibility, and high mechanical strength finds application in various industries. The chitin and chitosan market continues to exhibit steady growth, propelled by increasing demand in application markets such as biomedicine, wastewater treatment, agriculture and emerging applications in newer domains. The industry is also expected to gain from strong demand for vegetarian glucosamine. With mounting concerns over the use of animal sourced glucosamine, and growing preference for vegetarian products, glucosamine sourced from plants such as corn is evolving as a high growth market.

Wastewater treatment represents the largest end-use market for chitosan where it is used as a flocculent and as a chelating agent. Chitosan is regarded as an effective coagulant for reducing the level of Chemical Oxygen Demand (COD) and turbidity in industrial wastewaters. Given the growing emphasis on water reclamation and the need for environmental friendly solutions, chitosan is expected to find robust demand in the global wastewater treatment market. Healthcare and agrochemicals represent the fastest growing end-use markets for chitosan. Over the past decade, chitin and chitosan derivatives have gained significant attention in biomedical and biopharmaceutical research applications. Some of emerging and established applications include tissue engineering, wound healing and drug delivery systems. Chitin-containing products are increasingly being tested and developed for various agricultural applications, encouraged by the developments in chitin chemistry.

As stated by the new market research report on Chitin and Chitosan Derivatives, Asia-Pacific represents the largest and the fastest growing market worldwide. The growth in the region is led by factors such as steady economic growth; progressive biomedical research; growing pharmaceutical drug development efforts against the backdrop of government focus on developing safe, efficacious, and affordable healthcare products for the growing population; continued industrialization and expansion of industrial uses; and rising investments in new material developments capable of generating value across a broad range of industries and applications. 

Key players covered in the report include Advanced Biopolymers AS, Heppe Medical Chitosan GmbH, Kitozyme, Kunpoong Bio Co. Ltd., Meron Biopolymers, Primex Ehf, and Zhejiang Candorly Pharmaceutical Co. Ltd., among others.

The research report titled “Chitin and Chitosan Derivatives: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of current market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major companies. The report provides market estimates and projections in metric tons for all major geographic markets, including the US, Canada, Europe, Asia-Pacific and Rest of World. End-use applications analyzed for the Chitosan market include Water Treatment, Cosmetics & Toiletries, Food & Beverages, Healthcare/Medical, Agrochemicals, Biotechnology, and others.  The report also analyzes the Chitin derivatives market by segments such as Glucosamine, Chitosan, and Others.

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