asia pacific chitosan Market

The Asia Pacific Chitosan market was valued at US$ 838.77 million in 2018 and is projected to reach US$ 2,250.69 million by 2027; it is expected to grow at a CAGR of 11.6% during the forecast period.

Chitosan is a natural fibrous material derived from chitin. It is a substance produced in the outer shell of some shellfishes such as lobsters, crabs, and shrimps. Shrimps are considered to be major source of chitosan as they contain ~20-40% of chitin content, whereas crab shells contain ~15-20% chitin. Certain varieties of fungi have also been known to produce low amounts of chitin in their cell walls. However, the unavailability of an optimal procedure for commercial-scale chitin extraction from fungi makes it a less used source for obtaining chitosan. The polymer is a rich fiber source and is increasingly being incorporated into dietary supplements for promoting weight loss as it blocks the absorption of cholesterol and dietary fats; therefore, it is being used in medicines to cure medical conditions such as high cholesterol, obesity, and Crohn's disease. Chitosan is also directly applied on the gums to alleviate inflammation of gums.

Based on grade, the Asia Pacific chitosan market has been segmented into industrial grade, food grade, and pharmaceutical grade. The industrial grade segment dominated the in 2018; however, the market for the food-grade chitosan is expected to grow at a rapid CAGR during forecast period. Offshore crabs and shrimps are basic sources used for the production of industrial-grade chitosan. This grade is versatile and due to its solubility, high density of positive charges, and reactive free amino groups that make it suitable for industrial applications. The industrial grade chitosan acts as a chelating agent and a heavy metal trapper. Its n-benzyl sulphonate derivatives are used as a sorbent to remove metal ions in acidic medium. The industrial grade polymer is used as a dye deepening agent in the textile industry. Since chitosan is a form of the cationic polymer, it is used as a fixing agent for anionic dyes. Salt-free dyeing is also possible using chitosan with some other additives. In the agriculture industry, the food grade chitosan is widely used in the agricultural industry in the form of coatings for seed, leaf and fruit. It is also used in the form of vegetable coating as a fertilizer. It is also applied in a controlled agrochemical release to stimulate plants immunity, increase plant yield, and provide protection against microorganisms.
Based on country, the Asia Pacific chitosan market is segmented into China, Japan, India, South Korea, Australia, and Rest of Asia Pacific. In 2018, Japan was a major market for chitosan due to increasing awareness about chitosan products and escalating use of the polymer in applications such as food and beverage, water treatment, cosmetics and personal care, and pharmaceutical. Chitosan is used to treat obesity, lessen cholesterol levels, improve wound healing, and gain protection against hypertension, and these benefits are is leading to the rise in its demand in Japan. In addition, the rising consumption of dietary supplements among individuals is another factor propelling the growth of the market in this country. Also, ongoing research and development activities by major chitosan manufacturers are anticipated to boost the growth of the chitosan market in Japan during the forecast period.

FMC Corporation, G.T.C. Bio Corporation, Golden-Shell Pharmaceutical Co. Ltd., Panvo Organics Pvt. Ltd., and Qingdao Yunzhou Biochemistry Co., Ltd., are among the major players operating in the Asia Pacific chitosan market.

In December 2019, Wuhan (China) reported the emergence of COVID-19 outbreak, and since then, it has spread at a fast pace worldwide. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst-affected countries in terms confirmed cases and reported deaths. The pandemic has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The closedown of various industries, including chemicals and materials industry, and the disruptions in supply chains due to lockdowns have created a strain on the supplies of chemicals and materials. Many countries in Asia Pacific are already facing huge economic losses due to this outbreak. The impact would worsen depending on the spread of the virus. Lockdown and shrunk business activities would affect the economic flow in the coming years. As per the latest WHO data, India is the worst-affected country in Asia Pacific.

The overall Asia Pacific chitosan market size has been derived in accordance to both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic. The participants who typically take part in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific chitosan market.