Fort Collins, Colorado, Oct. 26, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the Chitosan Market size was valued at USD 11.1 Billion in 2022 and is expected to reach a market size of USD 65.8 Billion by 2032 at a CAGR of 19.6%.
Chitosan, derived from chitin, is a versatile and eco-friendly biopolymer that has gained massive attention in several industries. Its demand has risen significantly in recent years, driven by multiple factors that have propelled its growth in diverse sectors.
Chitosan has become increasingly popular in the cosmetics and personal care industry due to its natural origin and ability to promote healthy skin and hair. As a result, it has become a preferred ingredient in skincare products, shampoos, and conditioners. This trend is expected to continue as consumers demand more natural and eco-friendly alternatives in their personal care products.
Chitosan is becoming popular in agriculture because it enhances plant growth and is a biostimulant. It can improve crop yields, protect against pests and diseases, and enhance soil quality. With the increasing demand for sustainable agriculture practices, chitosan is expected to see a rise in demand.
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Segmentation Overview:
The global chitosan market has been segmented into application and region. Chitosan is a versatile material with various applications. It is extensively used in the pharmaceutical industry due to its biocompatibility and drug encapsulation properties, which make it ideal for controlled drug delivery systems. Chitosan-based wound dressings promote tissue regeneration and help in faster healing. In addition, chitosan is gaining popularity in the cosmetic industry due to its bacteriostatic and fungistatic properties, which make it suitable for personal care products. The increasing demand for chitosan as a hydrating agent in skin and hair care cream manufacturing is expected to drive market growth.
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Chitosan Market Report Highlights:
- The global chitosan market growth is anticipated at a CAGR of 19.6% by 2032.
- Chitosan is expected to have high demand in the food & beverage industry due to favorable regulatory support by developed economies and health benefits awareness.
- Chitosan has experienced significant growth in North America, particularly in the United States and Canada. The demand for natural and sustainable products in healthcare, cosmetics, and agriculture has contributed to this growth. Chitosan has seen increased adoption in this region due to its well-established pharmaceutical and food industries.
- Some prominent players in the chitosan market report include Qingdao Yunzhou Biochemistry Co., Panvo Organics Pvt Ltd, Advanced Biopolymers AS, Meron Biopolymers, Biophrame Technologies, United Chitotechnologies Inc., Heppe Medical Chitosan GmbH, KitoZyme S.A, Foodchem International Corporation, Chitosanlab, FMC Corporation, Golden-Shell Pharmaceutical Co. Ltd., Primex EHF, Nano3Bio, Koyo World (Hong Kong) Co. Ltd., Dainichiseika Color & Chemicals Mfg. Co. Ltd., and KYTOSAN LLC.
Industry Trends and Insights:
- HMC has launched chitosan standards for molecular weight analysis, eliminating the need to compare chitosans with other substances and providing reliable and accurate results.
- FMC Corporation and The HALO Trust have announced a collaboration to improve farm safety in Ukraine.
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Chitosan Market Segmentation:
- By Application: Water Treatment, Pharmaceutical, Biomedical, Cosmetics, Food & Beverage, And Others
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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