Chitosan Market to reach $5.1 Bn by 2024: Global Market Insights Inc.

1. Chitosan Market to reach $5.1 Bn by 2024: Global Market Insights Inc.

2. Industry Overview • Chitosan Market to surpass USD 5.1 billion by 2024; driven by Rising water treatment activities in Asia Pacific. Strong product demand in personal care & cosmetics industry in Europe and North America will majorly contribute to the chitosan market size in the near future. Consumers in these regions are increasingly attracted towards cosmetics with natural ingredients as they are positioned as healthier and safer alternatives to conventional cosmetics. Product finds wide-spread applications in hair care, skin care, and dental care products. They exhibit excellent skin moisturizing properties as it moisturizes the skin as well as prevents dehydration. • Europe cosmetics & personal care industry was valued close to USD 87 billion in 2017, which is anticipated to grow at a moderate rate in the coming years. However, the growth of cosmetics with organic ingredients is being increasingly preferable and therefore likely to trigger product demand significantly in the coming years and thereby resulting in attaining higher gains to the chitosan market size by 2024. • Significant cost of production is probable to impede the overall the chitosan market size by 2024. This is mainly attributed to multistep production process which needs close monitoring as product end-use vary based on its quality. However, rising product use across various end-users such as pharmaceutical, food & beverage, water treatment, agriculture, etc. will generate sufficient opportunities for chitosan market growth by 2024.

3. Continue… • Crabs based chitosan market size is anticipated to grow at a CAGR close to 19.0% by 2024. This is mainly attributed to extensive product use across various end-user industries including healthcare/medical, cosmetics, water treatment, cosmetics, agriculture, etc. For instance, crabs based chitosan are widely used in the production of medicines which are used to treat obesity, high cholesterol, prevention of increase in blood pressure, improving intestinal environment, etc. The product derived from chitosan is also used widely in food & beverage industry which includes formation of biodegradable films & coatings, immobilization of enzymes, as an antimicrobial agent and dietary supplement, owing to its hypocholesterolemic properties. • Based on end-users, chitosan market size for healthcare/medical constituted approximately 20% of the overall poliglusam market share in 2017. This is mainly used in the production of bandages owing to its exceptional wound healing characteristics. Product also finds application in manufacturing pharmaceutical drugs as filler and as a carrier for controlled release drugs. In addition, it is used as a coating on pharmaceutical products to mask the unsavoury medicine taste. The above-mentioned features and advantages will complement chitosan market size for healthcare/medical application over the forecast timeframe.

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