Chitosan Market Size

Chitosan Market Size

Global Chitosan Market size was valued at USD 1.83 billion in 2020 and will grow at a CAGR of around 14.8% from 2021 to 2027 owing to product usage in a wide range of end-user industries including water treatment, healthcare, food & beverages, cosmetics, and others. Rapid growth in the food & beverage sector and a growing requirement for advanced packaging materials with eco-friendly characteristics will support the usage of chitosan-based packaging in this sector.

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Chitosan is a long chain polymer found in aquatic animals such as shrimp, crabs, prawns, lobsters, etc. Growing water treatment activities in Asia Pacific along with rising R&D investments for the usage of chitosan in biomedical applications offer lucrative opportunities for chitosan market trends. The serious issue of heavy metal ion pollution due to industrial water wastes and discharge in freshwater sources are serious threats to human health and the environment. The product has shown over 50% efficiency in the removal of heavy metal ions from water compared to carbon quantum dots and semiconductors.

Rising consumer spending in emerging economies has led to strong growth in the cosmetics industry. For instance, the product is used to manufacture anti-aging creams, hair care products, and oral care products. It has the ability to form an elastic film on the hair, thereby imparting softness and physical strength to the hair fiber.

It is used in styling gels, shampoos, hair colorants, and hair sprays. In addition, it is also used to manufacture mouthwashes, toothpaste, and chewing gums owing to its anti-plaque and anti-decay properties. Moreover, the rising demand for organic ingredients in cosmetic products will augment the chitosan market share during the forecast timeframe.

Growing awareness about the adverse impact of chemical pesticides and rising demand for environmental-friendly measures for crop disease management are expected to drive the demand for natural components including chitosan. In agricultural applications, the product is largely used in fruit & vegetable coatings and seed coatings along with use as a fertilizer to control agrochemical release, thereby stimulating plant immunity and increasing plant production. Furthermore, the product possesses antibacterial and antifungal properties, which are highly effective against seed-borne pathogens. Chitosan in seed treatment forms physical barriers (films) around the seed surface, thereby maintaining seed properties.

The COVID-19 pandemic is expected to showcase an adverse impact on the chitosan market. Countrywide lockdown across several economies along with lower demand for cosmetics & toiletries has shown a negative impact on the overall market. In the Asia Pacific region, China has entered the recovery phase in Q2 FY2020; however, the normalization of full-capacity operations was delayed owing to the halt in international trade. Other major countries in the region, such as Japan, India, etc., will witness sluggish the chitosan market growth in the short term.