PDF for Chitosan Market: Global Market Insights, Inc. Chitosan Market size | Page 3
Key insights from the report include:
Water treatment application generated revenue more than USD 300 million in 2015.
Rapid industrialization resulting in rising clean water demand is forecast to propel
global chitosan market size for water treatment application.
Food & Beverage application is anticipated to witness gains at over 16% application.
Improved consumer lifestyles along with changing food habits will drive industry
growth from 2016 to 2024.
Cosmetics application was valued at over USD 500 million in 2015. Increasing
product use in hair care, anti-aging creams, and dental care products will positively
influence industry growth. For instance, cosmetics giant L'Oréal uses chitosan as an
ingredient to manufacture a wide product range.
North America, driven by U.S. chitosan market size, generated revenue more than
USD 550 million in 2015. Increasing health awareness amongst consumers and high
obesity rate in the region is likely to boost industry growth over the forecast
timeframe.
Asia Pacific dominated the chitosan market share and accounted approximately half
of the global revenue in 2015. Fast growing industrial sector and improving
customer’s lifestyle in the region will compliment industry growth by 2024. In addition,
agrochemical is anticipated to be the fastest growing application in the region.
Global chitosan market share is competitive. Major industry participants are Panvo
Organics Pvt., Ltd, GTC Bio Corporation, Xianju Tengwang Chitosan Factory, and
KitoZyme S.A. Others notable players include Golden-Shell Pharmaceutical Co.,
FMC Health and Nutrition, PT Biotech Surindo, and Panvo Organics Pvt., Ltd.
Chitosan manufacturing companies such as Golden Shell Pharmaceutical Co., Ltd.,
Biothera, GTC Bio Corporation, Panvo Organics Pvt., Ltd. source raw materials and
manufacture chitosan with varying molecular weights as required by the target
market.
3|Page