Chitosan Market Size to Hit US$ 7.06 Billion by 2031, At 11.5% CAGR: The Insight Partners

Chitosan market research includes key company profiles like - KitoSano SL, Advanced Biopolymers AS, FMC Corporation, GTC Bio Corporation, Golden-Shell Pharmaceuticals, Heppe Medical Chitosan GmbH, Panvo Organics Pvt Ltd, Primex EHF, Qingdao Yunzhou Biochemistry Co Ltd, Kitozyme LLC and more.

/EIN News/ -- US & Canada, Jan. 22, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the global chitosan market is observing significant growth owing to the multifunctional attributes of this polysaccharide and an upsurge in its applications in the personal care industry.

The chitosan market report comprises a detailed analysis of various grades of chitosan and its potential use in different industries, including food & beverage, pharmaceuticals, cosmetics, and water treatment, which are expected to drive the market toward significant growth in the coming years. The report runs an in-depth analysis of market trends, key players, and future opportunities.

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Overview of Report Findings

Market Growth: The chitosan market is expected to reach US$ 7.06 billion by 2031 from US$ 2.95 billion in 2023; it is expected to record a CAGR of 11.5% during the forecast period. Chitosan is a biocompatible and biodegradable polysaccharide, naturally derived from the deacetylation of chitin, a polymer found in the exoskeleton of crustaceans and insects. Functional groups present in chitosan significantly impact its properties such as antimicrobial activity, pH stability, cationic nature, and mucoadhesion. Chitosan is available in various forms, notably nanofibers, nanoparticles, nanocomposites, chitosan beads, and chitosan films. It is extensively used in the pharmaceutical and biomedical industries. Furthermore, chitosan is highly researched for the development of biomaterials and systems for tissue engineering as well as drug development.

Multi-functionality of Chitosan: The multi-functionality of chitosan and its growing applications in the personal care industry fuel the chitosan market growth. Chitosan is a natural material extracted from the outer skeletons of shells of shrimps, crabs, and lobsters. It is recognized as a versatile biomaterial due to its nontoxicity, low allergenicity, biodegradability, and biocompatibility. Owing to these properties, it is used in a wide range of applications in industries such as food & beverages, water treatment, medical and pharmaceuticals, cosmetics, and agrochemicals. Due to its tangible property of adsorption, chitosan has found a profound place in the water treatment application to adsorb metals, iron, toxic substances, and other impurities from wastewater.

Growing Application of Chitosan in Cosmetics Industry: The rising emphasis on the usage of bioingredients and the transition toward green cosmetics supported by international regulations drive the demand for chitosan in the cosmetics industry. Chitosan and its derivatives possess physicochemical and biological properties suitable for the formulation of cosmetic products. It is utilized as a moisture-retaining component in moisturizing agents to keep the skin hydrated and nourished. Chitosan is used in the prevention of UV-induced skin dryness, epidermal hyperplasia, and wrinkle formation. The growing application of chitosan in the cosmetics industry is a major driver of the growth of the global chitosan market.

Geographical Insights: In 2023, Asia Pacific led the market with a substantial revenue share, followed by North America and Europe, respectively. Asia Pacific is estimated to register the highest CAGR during the forecast period.

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Market Segmentation

• Based on grade, the chitosan market is segmented into industrial grade, food grade, and pharmaceutical grade. The pharmaceutical grade segment held the largest share of the market in 2023.
• In terms of source, the chitosan market is segmented into shrimps, prawns, insects, crabs, and others. The shrimps segment held the largest share of the market in 2023.
• In terms of application, the chitosan market is segmented into water treatment, food and beverages, biomedical and pharmaceuticals, cosmetics, and others. The biomedical and pharmaceuticals segment held the largest share of the market in 2023.
• The chitosan market is segmented into five major regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Competitive Strategy and Development

• Key Players: A few of the major companies operating in the chitosan market include KitoSano SL, Advanced Biopolymers AS, FMC Corporation, GTC Bio Corporation, Golden-Shell Pharmaceuticals, Heppe Medical Chitosan GmbH, Panvo Organics Pvt Ltd, Primex EHF, Qingdao Yunzhou Biochemistry Co Ltd, and Kitozyme LLC.
• Trending Topics: Biodegradable polymers, tissue engineering, gene therapy, drug delivery, antibacterial, anticancer, wound healing, etc.

Global Headlines on Chitosan

• Dyson enters beauty portfolio with chitosan-powered wet line hair styling products
• UK-based CuanTec starts manufacturing very high-quality, highly traceable chitosan
• DPH Biologials to develop first fungal chitosan seed treatment biocontrol for US growers
• Chitosan leader Tidal Vision acquires ViaeX Technologies Inc.

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Conclusion

Chitosan is mainly obtained from shrimps, particularly the Pacific shrimp, through the process of demineralization. Shrimp-derived chitosan exhibits antimicrobial effects against some gut pathogens. The surging demand for chitosan is primarily driven by water treatment, food and beverages, and pharmaceutical applications. The demand is also growing in the manufacturing of artificial skin and wound dressing materials. In the North American pharmaceutical sector, chitosan is widely used as a drug delivery agent and in contact lens production. It has also been gaining popularity in Europe due to its extensive utilization in pharmaceuticals and nutraceuticals, foods and beverages, and personal care and cosmetics applications. The consumption of chitosan-based food and supplement products is positively impacting the chitosan market growth.

Chitosan and its composites possess biosorbent ability that absorbs pollutants such as heavy ions, pesticides, suspended solids, turbidity, and fatty or oil impurities from the wastewater. The adsorption property of chitosan can be elevated with the help of chemical modifications leading to the formation of grafting chitosan, chitosan derivatives, and chitosan composites that are beneficial for the removal of impurities.

The report from The Insight Partners provides several stakeholders—including shrimp manufacturers, crab manufacturers, raw material suppliers, chitosan manufacturers, distributors, wholesalers, traders, pharmaceutical manufacturers, biopolymer manufacturers, food additives manufacturers, cosmetic manufacturers, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

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