Chitosan Market: Research Elaborate Analysis with Growth Forecast to 2027

The rise in demand for chitofelx in hemostatic dressing and bio-based cosmetic products has propelled market growth.

WILMINGTON, DELAWARE, UNITED STATES, April 30, 2024 /EINPresswire.com/ -- The global chitosan market, as outlined in a report by Allied Market Research, exhibited significant growth in recent years and is poised for further expansion. In 2019, the market reached $1.7 billion and is projected to surge to $4.7 billion by 2027, indicating a robust CAGR of 14.5% from 2020 to 2027.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/1737

Market Drivers and Challenges:

The rise in demand for chitofelx in hemostatic dressing and bio-based cosmetic products has propelled market growth. However, the high production costs associated with chitosan have posed challenges. Nonetheless, the increasing adoption of chitosan as a bio-plastic presents lucrative opportunities for market players.

Covid-19 Impact:

The Covid-19 pandemic led to production slowdowns and disruptions in the chitosan supply chain. Despite these challenges, recent research has highlighted the antiviral properties of HTCC against SARS-CoV-2 and MERS-CoV, potentially driving increased demand for chitosan.

Market Segmentation:

Source: Shrimp chitosan dominated the market in 2019, driven by its extensive use in water treatment and the food and beverage industry. The crab segment is expected to exhibit the highest growth rate, attributed to the utilization of crab waste in plantation for soil biodiversity maintenance.

Application: Water treatment emerged as the largest segment in 2019 and is projected to maintain its lead, fueled by the biodegradable nature and effectiveness of chitosan in removing toxic materials.

Region: Asia-Pacific and North America collectively accounted for the majority of the market share in 2019, with Asia-Pacific leading due to the abundant availability of crustacean waste in coastal areas. This region is also anticipated to witness the highest growth rate during the forecast period.

Key Market Players:

Prominent players in the chitosan market include Heppe Medical Chitosan GmbH, Advanced Biopolymers AS, Primex ehf, and others.

Conclusion:

The chitosan market presents promising growth prospects, driven by its diverse applications and increasing awareness regarding its benefits. Despite challenges posed by the pandemic, ongoing research and development efforts are expected to further propel market expansion in the coming years.

Interested in Procuring this Report? Visit Here: https://www.alliedmarketresearch.com/purchase-enquiry/1737

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
+1 503-894-6022
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other