Chitosan Market growing at a CAGR of 20.3% from 2024 to 2030

The global chitosan market size was estimated at USD 13.00 billion in 2023 and is anticipated to reach USD 47.06 billion by 2030, growing at a CAGR of 20.3% from 2024 to 2030. The growth is attributed to the increasing demand for naturally derived products and their high penetration in waste-water treatment, pharmaceutical, and cosmetics applications.

Key Market Trends & Insights

• Asia Pacific chitosan market dominated the market with the highest revenue share of nearly 44.5% in 2023.
• Asia Pacific is growing significantly during the forecast period.
• By application, biomedical dominated the market, with the highest revenue share of 31.0% in 2023.

Market Size & Forecast

• 2023 Market Size: USD 13.00 Billion
• 2030 Projected Market Size: USD 47.06 Billion
• CAGR (2024-2030): 20.3%
• Asia Pacific: Largest market in 2023

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Chitosan is expected to witness high demand from the food & beverage industry owing to favorable regulatory support by the developed economies and increasing awareness concerning the health benefits offered by the product. In addition, surging demand for the product as a food preservative and stabilizer has contributed to market growth. Furthermore, the rising utilization of the product as a clarifying agent in juices, as a thickening agent in beverages, and in packaging food products is anticipated to propel the demand.

Shrimp shells, crab shells, and squid pens are the most prominent raw materials used to produce chitin and chitosan. Chitosan is available in three varieties: alpha, beta, and gamma. Alpha and beta chitosan are the most widely available products manufactured using shrimp/crab shells and squid pens, respectively. The various types of chitosan differ in their chitin strand structure, which determines the characteristics and properties of the chitosan manufactured.

One of the market growth drivers, especially in the Asia-Pacific region, is the abundant availability of raw materials. It is one of the most abundant biopolymers and a significant waste product in the fishery industry. Chitosan is primarily obtained from various materials, including shrimp & crab shells and squid pens. Traditionally, these wastes were discarded or used directly as fertilizers. In addition, remarkable research on chitosan during the past few decades has revealed its significant importance in various applications, including wastewater treatment, pharmaceuticals, and food & beverage.

However, initiatives taken by manufacturers and researchers to improve purity to meet the required standards are expected to open new avenues for the existing and new market players during the forecasted period. In addition, rising demand for chitosan as an antibacterial, anti-cancerous, anti-inflammatory, and anti-fungal agent in pharmacological applications is expected to drive demand during the forecast period.

Chitosan Market Report Scope