Global chitosan market to reach $7.06 billion by 2031, driven by growth in various industries.
From GlobeNewswire: 2025-01-22 07:37:00
The global chitosan market is experiencing significant growth due to its multifunctional attributes and increased applications in the personal care industry. The market is expected to reach US$ 7.06 billion by 2031, with a CAGR of 11.5%. Chitosan is used in various industries, including food & beverage, pharmaceuticals, cosmetics, and water treatment.
Chitosan’s multi-functionality and expanding applications in the personal care industry are driving market growth. Derived from crustacean exoskeletons, chitosan is biodegradable, nontoxic, and biocompatible, making it ideal for various applications like water treatment, cosmetics, pharmaceuticals, and more. Its adsorption properties are particularly useful in water treatment.
The cosmetics industry is increasingly utilizing chitosan due to its bio-based nature and regulatory support for green ingredients. Chitosan is used in moisturizing agents, UV protection products, and anti-aging formulations. This trend, along with the demand for bioingredients, is fueling the growth of the global chitosan market. Asia Pacific leads in revenue share, with the highest CAGR projected for the region.
Chitosan, extracted mainly from shrimps, is used in various applications like water treatment, food & beverages, pharmaceuticals, and cosmetics. It is also used in manufacturing artificial skin and wound dressing materials. The demand for chitosan is driven by its adsorption properties in removing pollutants from wastewater, making it a versatile material in different industries.
The Insight Partners’ report provides valuable insights for stakeholders in the chitosan market, including manufacturers, distributors, pharmaceutical companies, and more. With a focus on market trends, key players, and future opportunities, the report helps navigate the evolving landscape of the chitosan market and unlock new growth prospects.
Read more at GlobeNewswire: Chitosan Market Size to Hit US$ 7.06 Billion by 2031, At