Chitin and Chitosan Derivatives Market Size, Share, Growth, and Industry Analysis by Type (Glucosamine, Chitosan, and Others), By Application (Water Treatment, Cosmetics & Toiletries, Food & Beverages, Healthcare/Medical, Agrochemicals, Biotechnology, and Others) Regional Forecast By 2031

Updated On: 15 April 2024

Chitin and Chitosan Derivatives Market Report Overview

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The global chitin and chitosan derivatives market size was USD 2293.1 million in 2021.  As per our research, the market is expected to reach USD 7,721.05 million by 2031, exhibiting a CAGR of 12.98% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the chitin chitosan derivatives industry experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

An organic polymer called chitin is present in the cell walls of some fungi and in the shells of crustaceans and insects. Several businesses use its derivatives, including chitosan and glucosamine. The market for chitin, chitosan, and derivatives is extremely competitive, with major competitors concentrating on their product lineups, geographical reach, strategic partnerships, and industry expertise. The major businesses are extending their consumer bases through market development and business expansions. During the review process, the international players could make acquisitions to expand their reach internationally.

COVID-19 Impact: Lockdown Restrictions to Impede Market Growth

The COVID-19 outbreak caused problems for manufacturers of services materials, including unstable markets, a drop in customer confidence, and difficulties with import and export commerce. The sourcing of raw materials, packaging, and distribution are all parts of the global supply chain. Due to lockdowns, moving commodities, labels, and other items has become difficult. In addition to having an immediate influence on markets, supply chains, supply and demand, and all of these other things, it also had a financial impact on the markets for services.

LATEST TRENDS

"Increasing Demand from Medicinal Applications to Boost Market Growth"

Chitin is a naturally occurring long-chain polymer that is the primary building block of fungi's cell walls, the exoskeletons of arthropods (including crustaceans and insects), mollusks' radulas, and the beaks and internal shells of cephalopods. The main sources of the chitin derivative chitosan, however, are the shells of marine crustaceans. Despite their historical poor solubility, chitin and chitosan are beneficial for a variety of biological and medicinal applications.

Chitin and Chitosan Derivatives Market Segmentation

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• By Types 

Based on type, the market is classified into Glucosamine, Chitosan, and Others.

• By Application

Based on the market is categorized into Water Treatment, Cosmetics & Toiletries, Food & Beverages, Healthcare/Medical, Agrochemicals, Biotechnology, and Others.

DRIVING FACTORS

"Growing Adoption from Wastewater Treatment to Give Market Extra Boost"

The primary factor driving the chitin and chitosan derivatives market growth rate is an increase in demand for chitin and chitin derivatives from the waste and wastewater treatment industry in both developed and developing nations. The market's growth rate will be directly and favorably impacted by expanding uses for chitin and its derivatives, such as in agrochemicals, and by the development and expansion of numerous end-user industries, particularly in developing nations.

"Modernization of Production Methods to Encourage Market Expansion"

The main focus of current research is on molecular changes that improve their solubility and bioactivity. Due to their intriguing qualities, which include biocompatibility, biodegradability, and nontoxicity, the resultant compounds are finding a lot of usage in the biomedical industry. Growing chitin demand and need for biomedical and biopharmaceutical applications, rising tuberculosis and obesity rates, increasing biological extraction of chitin from waste marine shells, growing emphasis on technological advancements, and modernization of production methods will all contribute to the market's expansion.

RESTRAINING FACTORS

"High Pricing to Impede Market Expansion"

A major obstacle to the market's expansion will be the deficiency in raw material demand and supply due to the tightness and volatility in their pricing. Chitin production causes environmental degradation, high expenses for research and development, and a lack of knowledge, all of which will slow the market's growth.

Chitin and Chitosan Derivatives Market Regional Insights

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"R&D Activities to Foster Growth in North America"

The highest chitin and chitosan market share is anticipated to be recorded over the study period in North America. Due to increased R&D efforts and rising demand for chitin and its derivatives in end use sectors including the food and healthcare industries, North America currently holds a monopoly on the chitin and chitin derivatives market. Another factor promoting the consumption of chitin, chitosan, and derivatives in the region is the existence of numerous pharmaceutical and nutraceutical industries in North America, with the U.S. being the largest country-level Chitin Market.

Asia-Pacific will continue to have significant growth over the projected period and will record the highest CAGR because of the region's rapid industrialization, rapid urbanization and industrialization, and ample supply of raw materials.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

• Zhejiang Candorly Pharmaceuticals Co. Ltd (China)
• KYTOSAN USA, LLC (U.S.)
• G.T.C. Bio Corporation (U.S.)
• Primerx Ehf
• Kitozyme (Belgium)
• Advanced Biopolymers AS (U.S.)
• Golden-Shell Pharmaceuticals Co., Ltd (China)
• Kunpoong Bio Co., Ltd (South Korea)
• Meron Biopolymers (U.S.)
• Heppe Medical Chitosan GmbH (Germany)

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost chitin and chitosan derivatives market share.