U.S (New York)– The “Chitosan Market ” 2023 research report appears to cover various aspects of the market, including the strategies of top players, market segments, competitive landscape, manufacturing, and pricing structures. In this report, we will provide an in-depth analysis of the current state of the global Bahrain Alcoholic Beverages Market, its key drivers and challenges, and its future prospects. This study contains research on market dynamics, such as SWOT, PESTLE, and Porter’s Five Forces analysis, as well as details about drivers, constraints, trends, and opportunities. These studies may assist in providing a thorough overview of the worldwide industry. Additionally, the key segments of the industry are evaluated according to their performance.
The global chitosan market size was valued at $1.7 billion in 2019, and is projected to reach $4.7 billion by 2027, growing at a CAGR of 14.5% from 2020 to 2027. Chitosan is a polysaccharide derivative of chitin obtained from shells of marine animals such as shrimps, lobsters, crabs, and others. Chitin extracted from crustacean shell waste is further processed and treated with acids and alkalis to obtain chitosan. According to the estimates of the Food and Agriculture Organization FAOSTAT, around 750,000 tons of crustacean shell waste is produced in Europe annually. This waste disposal is expensive in developed countries, around $150 per ton in Australia. In addition, the waste is high in proteins and chitin, which makes it valuable product as chitin is the second most beneficial polysaccharide found in nature, other than cellulose. Chitosan is applicable in agriculture as a biopesticide & plant growth promoter, for water treatment, in the biomedical sector for blood clotting & weight loss, and several other applications. Potential applications of chitosan such as in polyurethane paints & coatings, bioprinting of organs, and as a food preservation material are being conducted in various studies.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
In order to be able to fulfill rising demand, the chemical industry invests billions of dollars each year in new and sustaining capital. Chemicals and materials are omnipresent in contemporary life, therefore major changes will be required for chemical makers to function in a changing geopolitical environment on a global scale, either proactively or reactively. Chemical firms will probably need to prepare for difficulties in the upcoming year, such as global inflation and oil price instability.
The chitosan market is driven by the growth in waste from the seafood industry, increase in applications of chitosan, and support from the government toward waste utilization. High waste generation requires proper disposal, which is expensive. To avoid this, the shell waste is processed into chitin and other high-value products. In addition, the rise in demand for bio-based cosmetic products is also expected to propel the global chitosan market growth during the forecast period. However, high cost of production may hamper the market growth. Ongoing R&D activities to explore further applications and use of chitosan create numerous opportunities for growth.
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The chitosan market is segmented on the basis of source, application, and region. On the basis of source, it is divided into shrimp, crab, krill, squid, and others. Shrimp chitosan emerged as the market leader owing to the large demand of shrimp chitosan in water treatment, food and beverage industry Based on application, it is categorized into water treatment, biomedical & pharmaceuticals, cosmetics, food & beverages, and others. Water treatment dominated the market in terms of growth and revenue share owing to the growing application of chitosan as coagulant in waste water treatment processes, owing to its biodegradable nature, effectiveness in removing toxic materials. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA, with country level analysis of each region. Asia pacific accounted for highest revenue share and highest market growth owing to owing to the easy availability of crustacean waste in coastal areas driving the market growth for chitosan
KEY BENEFITS FOR STAKEHOLDERS
– The global chitosan market analysis covers in-depth information of major industry participants.
– Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
– Major countries have been mapped according to their individual revenue contribution to the regional market.
– The report provides an in-depth analysis of the global chitosan market share and forecast for the period 2020-2027.
– The report outlines the current global chitosan market trends and future estimations of the chitosan market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
– The key drivers, restraints, and global chitosan market opportunity and their detailed impact analysis is elucidated in the study.
KEY MARKET SEGMENTS
– By Source
– Shrimp
– Crab
– Krill
– Squid
– Others
– By Application
– Water Treatment
– Biomedical & Pharmaceuticals
– Cosmetics
– Food & Beverages
– Others
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– By Region
– North America
o U.S.
o Canada
o Mexico
– Europe
o UK
o Germany
o France
o Italy
o Rest of Europe
– Asia-Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia-Pacific
– LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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