Global Chitosan Market
Chitosan refers to a linear polysaccharide of deacetylated Beta – 1, 4 – D – glucosamine. It is used for a large number of commercial and biomedical uses. The Chitosan market has been exhibiting a steady performance at the global level. Some of the main reasons that have contributed to the robust performance of the industry include the increase in the shortage of fresh water and the high rate of industrialization. The proper dosage of Chitosan can be beneficial for the users as it helps in treating wounds.
The Chitosan market surpassed USD 1.5 billion in the year 2017. It is expected that the industry will reach USD 21.41 billion by the year 2025. Some of the main reasons for the robust performance of the industry include the high application of Chitosan in the cosmetics industry and the benefits of the commodity that drives demand in the medical sector. Chitosan is considered to be the most vital additive substance from marine bio sources other than calcium, glucosamine, astaxanthin, and other chitin derivatives.
A critical and in-depth analysis of the Chitosan market has been presented. The objective is to shed light on the ground scenario as well as the future growth prospects of the industry. A number of analytical and strategic tools have been used to capture the market trends, dynamics, drivers, opportunities, and obstacles. The competitive landscape has been evaluated as it influenced the overall performance of the industry. A comprehensive study of the market has been conducted at a regional level and global level so that its growth potential can be captured.
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Key divisions of the Chitosan Market
The Chitosan market can be segmented on the basis of product, application, geographical regions, and source. Based on the product type, the principal subdivisions of the market include High-Density Chitosan, Special Molecular Weight Chitosan, and Oligomerization Chitosan. The market offerings are used in various industries, including cosmetics and toiletries, healthcare and medical, food and beverages, agriculture and agrochemical and water and waste treatment. The major geographical regions where the industry has a presence include Europe, USA, China, Japan, India, and many more. On the basis of source, the global Chitosan market can be further segmented into Shrimp, Crab, Squid, and Krill.
Geographical segments of the Chitosan Market
The Chitosan market has a strong presence in various geographic regions such as North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. A wide range of factors come into play in each of the geographical regions and influences the performance of the industry. At present, the North American market is considered to be exhibiting the most reliable performance at the global level. It is expected that the geographical segment witness will the growth of almost 18 percent in the near future. One of the main reasons for the rising demand in the chitosan market is the advancement and ongoing research in the biotechnology discipline.
A major player in the Chitosan industry, Biothera Pharmaceuticals, recently made the announcement that it had appointed Tamas Mir Named. He has been appointed as the Senior Vice President Finance. He had joined the business organization in the year 2012 as the Corporate Controller. After the change in his designation, he will be responsible for HR, IT, and Finance.
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