10th December,
2018- Chitosan
Market is estimated to grow at a CAGR of 15% in the forecast
period due to the rising application of chitosan in water treatment, medical
and cosmetic industry. Chitosan is a natural polycationic linear polysaccharide
made from partial deacetylation of chitin. Chitin is a large, structural
polysaccharide derived from the chains of refined glucose. Both chitosan and
chitin possess outstanding properties like bio-compatibility, non-toxicity,
biodegradability, hydration, moisturization, and absorption. It is today
extensively researched as a potential drug carrier because of its
biocompatibility property. Chitosan is also suggested to cover nanoparticles
made from other materials to reduce their effect on body and increase
bioavailability.
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Property of chitosan as a
chelating polymer for water treatment is expected to be a major driver of
chitosan market. Hence, increasing demand for chitosan in water treatment and
nutraceutical applications is propelling the growth of market. Easy
availability of raw materials, increasing application in cosmetic segment and
growing demand for pharmaceutical industry are also boosting the market.
However, significant cost required for the production of chitosan and
adulteration during the manufacturing process is hampering the growth of
market. Furthermore, rising application of chitosan as bioplastic is expected
to introduce new market opportunities in the coming years. The solubility of
chitosan is low in alkaline and neutral solution limiting its application that
challenges the market growth.
The prominent players of
chitosan market include KitoZyme, Advanced Biopolymers, Golden-Shell
Biochemical, G.T.C. Bio Corporation, FMC Corporation, Primex, Axio
Biosolutions, Heppe Medical Chitosan, Agra Tech, Nitta Gelatin India, Kunpoong
Bio, TAGROW, Marshall Marine Products, Meron, Panvo Organics, TCI Chemicals,
and SRL.
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