Chitosan Market Size, Share, Industry Trends and Forecast to 2030

Chitosan Market Size & CAGR in 2021

The global chitosan market size in 2021 was valued at USD 985.67 million. The market is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2021 to 2027, reaching a projected value of USD 1,329.55 million by the end of the forecast period.

COVID-19 Impact on the Chitosan Market

The outbreak of the COVID-19 pandemic in 2020 had a significant impact on the chitosan market. The disruption in the global supply chain, lockdown measures, and restrictions on manufacturing activities led to a temporary slowdown in the market. However, the demand for chitosan, known for its antimicrobial and antiviral properties, saw a surge as it was utilized in the production of medical equipment, personal protective gear, and pharmaceuticals.

Chitosan Dynamics

Chitosan is a versatile biopolymer derived from chitin, primarily sourced from shrimp and crab shells. It is widely used in various industries such as food and beverages, pharmaceuticals, cosmetics, and agriculture due to its natural properties like biodegradability, biocompatibility, and antimicrobial activity. The increasing awareness about eco-friendly products and the rising demand for natural ingredients in different applications are driving the growth of the chitosan market.

Segments and Related Analysis

By Source:

1. Shrimp
2. Crab
3. Squid

By Grade:

1. Industrial Grade
2. Food Grade
3. Pharmaceutical Grade

By Application:

1. Water Treatment
2. Healthcare & Medical
3. Cosmetics
4. Agrochemicals

By Region Analysis

The chitosan market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the market in 2021, followed by Europe and Asia Pacific. The Asia Pacific region is projected to witness the highest growth rate during the forecast period due to the increasing adoption of chitosan in various industries.

Key Market Players and Competitive Landscape

The key players in the chitosan market include KitoZyme S.A., Heppe Medical Chitosan GmbH, Golden-Shell Pharmaceutical Co., Ltd., Panvo Organics Pvt. Ltd., and NanoLand Industry Co., Limited, among others. These companies are focusing on research and development, product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position.

Recent Happenings in the Chitosan Market

1. In April 2022, KitoZyme S.A. announced the launch of a new chitosan-based wound healing product.
2. Golden-Shell Pharmaceutical Co., Ltd. collaborated with a Canadian research institute to develop chitosan-based biodegradable packaging materials in May 2021.
3. NanoLand Industry Co., Limited introduced a novel chitosan nanoparticle formulation for targeted drug delivery in November 2020.
4. Heppe Medical Chitosan GmbH received regulatory approval for its chitosan-based medical device in the European market in September 2020.