Global Chitosan Market (2018 to 2024) - Industry Trends, Share, Size, Growth, Opportunity and Forecasts

Global Chitosan Market (2018 to 2024) - Industry Trends, Share, Size, Growth, Opportunity and Forecasts

A notable boom of interest in chitosan has become palpable with marine resources getting recognition for having unparalleled potential applications in a myriad of industries. In recent years, chitosan has been receiving notable attention in food & beverage industry, aquaculture, agrochemical, cosmetics and biotechnology, to name a few.

Of late, stakeholders are infusing investments in cosmeceuticals and nutraceuticals to expand their consumer base. Popular as a versatile biomaterial on the heels of their low allergenicity, non-toxicity, biodegradability and biocompatibility, investment in chitosan industry is likely to surge in the next five years. In the latest research report, Global Market Insights, Inc., has projected chitosan industry to provide US$5.1 billion market size opportunity by 2024.

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Some of the industry dynamics that are likely to redefine chitosan market and will potentially become the major highlight for stakeholders are delineated below:

Growth drivers: Food & beverage

Traction for chitosan in food and beverage landscape is being regarded as a lucrative portfolio for it has innate functional attributes and unique biological activities. Prominently, film-forming property and antimicrobial activity of chitosan have made it one of the most desirable food preservatives of natural origin.

Pressing demand for chitosan to boost the shelf life and quality of various foods is expected to be witnessed in the ensuing period. The antimicrobial property has made it a top-notch preservative to combat yeast, bacterial and foodborne filamentous fungi.

Inclination for the use of chitosan in food packaging application as barrier films, antibacterial films, and sensing films is likely to spur chitosan market revenue.

Trends in cosmetics space

Leading companies project chitosan to exhibit compelling trend in cosmetics space in the wake of its viscosity, biodegradable, biocompatible and moisture-holding attributes. Prominently, chitosan is gaining momentum as a hydrating agent and film-forming agent in cosmetics.

Several studies claim that film-forming ability of chitosan plays an instrumental role in protecting the skin from hostile environmental condition and boosting smoothness in the skin. Durability factor of chitosan has made it trendy among cosmetic manufacturers.

Widespread use of the term cosmeceutical is fueling the trend in chitosan landscape as anti-wrinkling, whitening, anti-aging and tanning and hair care akin to cosmetic products. Going a step further, cosmeceuticals are believed to have biologically active ingredients with drug-like and medicinal upsides.

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Opportunities in oral healthcare

Expanding the footprint of chitosan, stakeholders are increasing their penetration in oral healthcare. Owing to its antimicrobial, biofilm adsorption inhibitor, and anti-abrasive properties, demand for chitosan is likely to surge in toothpaste and chew gums.

Stakeholders are expected to inject funds in North America as millennial and gen Z population in the U.S. and Canada exhibit traction for skin care products containing chitosan. Moreover, trend for cosmeceuticals has furthered the confidence of forward-looking companies vying to expand their portfolios.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

 

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