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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Chitosan is a derivative of chitin that is extracted from shells of aquatic species such as lobsters, shrimps, and crabs. Chitosan is widely used in dietary supplements as it inhibits the lipid absorption in the gastrointestinal tract. It is also used in various healthcare applications due to biodegradability and biocompatibility properties. It is used in hemostatic dressing in order to treat wounds owing to its anticoagulant properties.

The global chitosan market is estimated to account for US$ 3,573.1 Mn in terms of value and 53,806.0 Tons in terms of volume by the end of 2019.

Drivers:

The growing demand for chitosan as a flocculant in the water treatment industry is primarily fueling the market growth of the chitosan. It is an effective coagulant for treating wastewater. Moreover, it is also used as a chelating agent where it easily binds to highly toxic heavy metals present in the wastewater. Chitosan is broadly used in wastewater treatment due to its biodegradability and non-toxic nature.

Increasing demand for chitosan from dental applications is augmenting the market growth. It is used to manufacture mouthwashes, toothpaste, and chewing gums owing to its anti-decay and anti-plaque properties. It hides the unpleasant taste of silicon oxide, the main ingredients present in the toothpaste. Moreover, chitosan is also used in the dental filler materials which is further projected to bolster the market growth.

Figure 1. Global Chitosan Market Share (%) in terms of Value, By Region, in 2019

Chitosan  | Coherent Market Insights

Asia Pacific region dominated the global chitosan market in 2019, accounting for 50.6% share in terms of value.

Market Restraints

Strict regulations associated with shrimp farming is projected to hamper the market growth of the chitosan. Moreover, shrimp peeling units and shellfish processing plants generate lots of wastes which is again expected to inhibit the market growth of the chitosan.

The high cost of production of chitosan is projected to hinder the market growth. According to the Coherent Market Insights analysis, the cost of production of average-grade chitosan ranges between USD 8 per kg to approximately USD 12 per kg. Also, the process is time-consuming and complex due to various stages that are further expected to restrict the market growth of the chitosan.

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Chitosan Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 3,573.1 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 17.7% 2027 Value Projection: US$ 13,232.7 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Africa
Segments covered:
  • By Application: Water Treatment, Biomedicine & Pharmaceuticals, Industrial, Food & Beverage, Cosmetics, Agrochemical, and Others.
Companies covered:

GTC Bio Corporation, KitoZyme S.A., Biothera, Golden-Shell Pharmaceuticals Co., Ltd., FMC Health and Nutrition, Panvo Organics Pvt. Ltd., Heppe Medical Chitosan GmbH, Primex ehf, PT Biotech Surindo, Xianju Tengwang Chitosan Factory

Growth Drivers:
  • Increasing demand for chitosan from dental applications is augmenting the market growth.
  • The growing demand for chitosan in the water treatment industry is primarily fueling the market growth of the chitosan market.
Restraints & Challenges:
  • Strict regulations associated with shrimp farming is projected to hamper the market growth of the chitosan

Market Opportunities

The growing use of chitosan from the agriculture industry is projected to offer new market opportunities over the forecast period. Chitosan is used in the fertilizers and controlled agrochemical release due to its antifungal properties. Moreover, growing research and development in the field of chitosan nanoparticles to expand its use in novel applications is further anticipated to foster the market growth of the chitosan over the forecast period.

Increasing production of fish, shrimp, and other aquatic species in the Asia Pacific region is projected to offer lucrative market opportunities to the market in the near future. According to The National Fisheries Development Board, in India, total fish production during 2017-2018 is estimated to be 12.60 million metric tons, of which nearly 65% is from the inland sector and about 50% of the total production is from culture fisheries and constitutes about 6.3% of the global fish production.

Figure 2. Global Chitosan Market– Opportunity Analysis

Chitosan  | Coherent Market Insights

Market Trends/Key Takeaways

Growing consumption of packaged food products is a rising trend due to the hectic lifestyle and increasing disposable income of the consumers. It is used as an antimicrobial agent in food processing industries. The expansion of the food industry due to increasing spending by consumers on the food products coupled with the rising demand for convenience and packed food products are again expected to propel the market growth of the chitosan.

Increasing investment by manufacturers on developing safe and cost-effective production technologies is one of the major trend. Also, the growing focus of manufacturers on developing a wide range of chitosan products coupled with the increasing focus of the manufacturer to an established new plant near coastal areas is further projected to augment the market growth over the forecast period.

Figure 3. Global Chitosan Market Share (%) in terms of Value, By Application, in 2019

Chitosan  | Coherent Market Insights

On the basis of application in 2019, the biomedicine & pharmaceuticals segment has accounted the largest market share of 40.8% in terms of value, followed by cosmetics and water treatment segment respectively.

Global Chitosan Market - Impact of Coronavirus (Covid-19) Pandemic

The chitosan market is expected to grow at a significant rate during the forecast period as the demand for medicine and pharmaceutical industry is rising. The demand for pharmaceutical products due to the coronavirus has peaked thereby, increasing the demand for chitosan market.

Value Chain Analysis

Chitosan  | Coherent Market Insights

Competitive Section:

Company Names 

  1. GTC Bio Corporation
  2. KitoZyme S.A.
  3. Biothera
  4. Golden-Shell Pharmaceutical Co., Ltd.
  5. FMC Health and Nutrition
  6. Panvo Organics Pvt., Ltd
  7. Heppe Medical Chitosan GmbH
  8. Primex ehf
  9. PT Biotech Surindo
  10. Xianju Tengwang Chitosan Factory

Chitosan is extracted from shells of aquatic species such as lobsters, shrimps, and crabs and is derive from chitin. Chitosan is widely used in dietary supplements as it inhibits the lipid absorption in the gastrointestinal tract. It is also used in various healthcare applications due to biodegradability and biocompatibility properties. It is used in hemostatic dressing in order to treat wounds owing to its anticoagulant properties.

Market Dynamics

Chitosan is also used in the dental filler materials which is further projected to bolster the market growth. Chitosan is gaining traction in the healthcare industry where it is used in the manufacturing of bio-based products for wound care management.

Increasing demand for chitosan from dental applications is augmenting the market growth. It is used to manufacture mouthwashes, toothpaste, and chewing gums owing to its anti-decay and anti-plaque properties. The growing demand for chitosan as a flocculant in the water treatment industry is primarily fueling the market growth of the chitosan.

Key features of the study:

  • This report provides in-depth analysis of the global chitosan market and provides market size (US$ Million & Tons) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by key players
  • This study also provides impact analysis of Coronavirus (Covid-19) pandemic on global chitosan market.
  • It profiles key players in the global chitosan market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study GTC Bio Corporation, KitoZyme S.A., Biothera, Golden-Shell Pharmaceuticals Co., Ltd., FMC Health and Nutrition, Panvo Organics Pvt. Ltd., Heppe Medical Chitosan GmbH, Primex ehf, PT Biotech Surindo, Xianju Tengwang Chitosan Factory
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global chitosan market report caters to various stakeholders in this industry including investors, suppliers, global chitosan manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global chitosan market

Detailed Segmentation:

  • Global Chitosan Market, By Application:
    • Water Treatment
    • Biomedicine & Pharmaceuticals
    • Industrial
    • Food & Beverage
    • Cosmetics
    • Agrochemicals
    • Others
  • Global Chitosan Market, By Region:
    • North America
      • U.S.
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • Canada
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
    • Europe
      • U.K.
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • Germany
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • France
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • Italy
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • Spain
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • Russia
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • Rest of Europe
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
    • Asia Pacific
      • China
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • India
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • Japan
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • ASEAN
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • Australia
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • South Korea
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • Rest of Asia Pacific
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
    • Latin America
      • Brazil
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • Mexico
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • Rest of Latin America
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
    • Middle East & Africa
      • Middle East
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
      • Africa
        • By Application:
          • Water Treatment
          • Biomedicine & Pharmaceuticals
          • Industrial
          • Food & Beverage
          • Cosmetics
          • Agrochemicals
          • Others
  • Company Profiles
    • GTC Bio Corporation
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • KitoZyme S.A
    • Biothera
    • Golden-Shell Pharaceutical Co, Ltd.
    • FMC Health and Nutrition
    • Panvo Organics Pvt. Ltd.
    • Heppe Medical Chitosan GmbH
    • Primex ehf
    • PT Biotech Surindo
    • Xianju Tengwang Chitosan Factory

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
    • Cost Tier Down Analysis
  4. Global Chitosan Market– Impact of Coronavirus (Covid-19) Pandemic
    • Impact of Coronavirus – Overview
    • Impact Analysis, By Region
      • North America
      • Latin America
      • Europe
      • Asia Pacific
      • Middle East
      • Africa
  5. Global Chitosan Market , By Application, 2017 - 2027 (US$ Million & Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027
      • Y-o-Y Growth Analysis, 2020 – 2027 (%)
      • Segment Trends
    • Water Treatment
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
    • Biomedicine & Pharmaceuticals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
    • Food Supplements
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
    • Cosmetics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
    • Industrial
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
    • Agrochemicals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
  6. Global Chitosan Market , By Region, 2017- 2027 (US$ Million & Tons)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027
      • Y-o-Y Growth Analysis, By Region, 2020 – 2027 (%)
    • North America
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • France
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • China
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • India
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Australia
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • South Korea
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
    • Latin America
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
    • Middle East & Africa
      • Market Share Analysis, By Sub-Region, 2017 and 2027
      • Y-o-Y Growth Analysis, By Sub-Region, 2020 – 2027 (%)
        • Middle East
          • Sub-region Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Africa
          • Sub-region Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
  7. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • GTC Bio Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • KitoZyme S.A.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Biothera
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Golden-Shell Pharmaceutical Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • FMC Health and Nutrition
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Panvo Organics Pvt., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Heppe Medical Chitosan GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Primex ehf
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • PT Biotech Surindo
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Xianju Tengwang Chitosan Factory
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

Frequently Asked Questions

The market for chitosan is estimated to surpass US$ 13,232.7 million by 2027, exhibiting a CAGR of 17.7% between 2020 and 2027.
The growing demand for chitosan as a flocculent in the water treatment industry is primarily fueling the market growth of the chitosan market.
The chitosan market is expected to exhibit a CAGR of 17.7% during the forecast period (2020-2027).
Major players operating in the global chitosan market includes GTC Bio Corporation, KitoZyme S.A., Biothera, Golden-Shell Pharmaceuticals Co., Ltd., FMC Health and Nutrition, Panvo Organics Pvt. Ltd., Heppe Medical Chitosan GmbH, Primex ehf, PT Biotech Surindo, Xianju Tengwang Chitosan Factory.
The high cost of production of chitosan is projected to hinder the market growth.
Growing consumption of packaged food products is a rising trend due to the hectic lifestyle and increasing disposable income of the consumers.
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