Chitosan Market is Set To Witness a CAGR of 20.8% from 2019 to 2025
Growing scope of applications in cosmetics, water treatment for removal of impurities, and medical sectors is the key factor driving the market.
(firmenpresse) - The global chitosan market size is expected to reach USD 21.41 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 20.8% from 2019 to 2025. Growing scope of applications in cosmetics, water treatment for removal of impurities, and medical sectors is the key factor driving the market. Moreover, rising demand for bio-based chemicals and less number of fresh water resources is impelling the market growth. North America is expected to lead chitosan market in the near future due to positive outlook from the pharmaceutical sector in the region.
Additionally, rise in demand from cosmetic industry and growing application scope in waste water treatment along with government initiatives are also propelling the growth. The market competition is expected to intensify in the coming years owing to escalating demand for chitosan for varied applications. Rising need for waste water treatment in industries, such as textile, dairy, paper & pulp, metal cutting, and chemical, is anticipated to propel the product demand. Thus, increasing product demand as a water treatment chemical and strict regulations on the disposal of industrial waste water are also likely to boost market growth.
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https://www.grandviewresearch.com/industry-analysis/global-chitosan-market
Further key findings from the study suggest:
North America is expected to be the fastest-growing region due to increasing demand and rising preference of pharmaceutical and cosmetics manufacturers for naturally-derived products
Pharmaceutical industry in Canada is projected to expand at a CAGR of 21.03% in near future due to increasing R&D for product application in tissue engineering
Some of the key companies in the market include Qingdao Yunzhou Biochemistry Co., FMC Corp., Golden-Shell Pharmaceutical Co. Ltd., and Heppe Medical Chitosan GmbH
Companies are focusing on strengthening their global reach by improving the product purity. They are also investing in R&D for the production of biomedical and pharmaceutical grades of the product
Grand View Research has segmented the global chitosan market on the basis of application and region:
Chitosan Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Water Treatment
Pharmaceutical & Biomedical
Cosmetics
Food & Beverage
Others
Chitosan Region Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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Datum: 20.09.2019 - 11:36 Uhr
Sprache: Deutsch
News-ID 599235
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