According to a report released at TechSci Research, “Global Chitosan Market By Source, By Application, By Region, Competition, Forecast & Opportunities, 2024”, global chitosan market is anticipated to grow at a CAGR of around 20% during forecast period on account of easy availability of raw material and increasing utilization of chitosan in various industries such as medical, agrochemicals, pharmaceuticals, among others. Chitosan is the deacetylated form of chitin and industrial grade chitosan is the preferred type due to its low cost. Chitosan also acts as adsorbent and flocculent in the water treatment, which is fueling its demand for wastewater treatment.

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The market for chitosan has been segmented into source, application and region. Based on source, the market can be segmented into prawns, shrimps, crabs, lobsters and others. Shrimp, followed by crab, are the preferred sources of obtaining chitosan globally. Based on application, the market is categorized into agriculture & horticulture, filtration, winemaking, medical use, bioprinting, biotechnology, among others. Among these applications, the filtration segment is expected to lead the global chitosan market during forecast period. The growth of the filtration application segment can be attributed to the growing use of chitosan for treating water owing to its biosorbent ability.

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TechSci Research calculated global chitosan market size using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Market Players:

Chitosan market are GTC Bio Corporation, Panvo Organics Pvt., Ltd., KitoZyme S.A., Xianju Tengwang Chitosan Factory, Novamatrix (FMC), Zhejiang Golden-Shell Pharmaceutical Co., PT Biotech Surindo, Primex ehf, Heppe Medical Chitosan GmbH, Agratech, among others.

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