The Global Chitosan Market was valued at USD 6.4 Billion in 2019, and is expected to grow at CAGR of 20.1% during 2020–2026. Rising demand for waste water treatment products to remove impurities such as heavy minerals and phosphorus coupled with increasing consumption of bio-derived products in water treatment, cosmetics and pharmaceutical industries.
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Chitosan is derived from chitin which is a natural polycationic liner polysaccharide. Low solubility properties in alkaline solution constricts its application and moreover, chemical modification into hydrogels exhibits new functional properties for different applications. Chitosan is widely used for various biological and biomedical applications owing to its unique properties. For instance, medicinally, pharamcies with chitosan help in healing wounds. For obesity treatments, it offers high versatility and leads into high-end results. Therefore, there is a high level interest in biomedical applications and pharmaceutical companies pertaining to use of chitosan and its derivatives. In addition, there has been a high number of literature available throughout the years.
Chitin is the raw material used in the manufacture of chitosan. Shrimps, crustaceans and crabs are the main sources of production. The purification process with shrimp shells is easy as they’re thin. Normally, shells of the similar species of the same size and shapes are cleaned, grouped and dried into small shell pieces as there is no standard purification process as required. Usually, the process is divided into deprotenization, decolorization and demineralization which can be carried using chemical or biological treatment. However, end-products for biomedical and pharmaceutical purposes need to be highly purified as there are remains of minerals and pigments that can cause side-effects to human health.
Chitosan Market Drivers:
Chitosan market is driven by lack of availability of fresh water due to the rise in urban population and growing rate of industrialization. As governments and market players are investing for water treatment on a global basis, chitosan flocculent is employed for water treatment owing to its cost-effectiveness in water treatment. Boom in personal care industry is bolstering the market growth as chitosan flocculent is used as an ingredient for hair care, dental care and skin care products. However, the high price of raw materials is negatively affecting the market growth of chitosan market.