Lucintel Forecasts Chitosan Market to Grow at a CAGR of 14%-16%

According to the recent study the chitosan market is projected to grow at a CAGR of 14%-16% from 2020 to 2025. Growth in this market is primarily driven by its biodegradability, bioactivity, biocompatibility, non-toxicity, fiber grade properties, and adsorption.

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“Industrial market is expected to remain the largest segment during the forecast period.”          

Based on grade, the chitosan market is segmented into industrial, food, and pharmaceutical. Lucintel forecasts that the industrial market is expected to remain the largest segment during the forecast period as it is a low-cost grade of chitosan and there is a growing demand for non-chemical products/technologies, such as membranes and UV disinfection in agrochemical applications.

“Within the chitosan market, the food & beverages segment is expected to remain the largest application”     

Based on application, the food & beverages segment is expected to witness the largest segment over the forecast period due to its biodegradability, bioactivity, biocompatibility, and non-toxicity properties.

“Asia Pacific will dominate the chitosan market in near future”

Asia Pacific is expected to be the largest region and it is also expected to witness the highest growth over the forecast period due to increasing population and growing agricultural & industrial activities in this region.

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Major players of chitosan market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Primex, Heppe Medical Chitosan, Vietnam Food, KitoZyme, Agratech, Advanced Biopolymers, BIO21, G.T.C. Bio, Taizhou City Fengrun Biochemical, and Zhejiang Golden-Shell Pharmaceutical are among the major chitosan providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/chitosan-market.aspx or helpdesk@lucintel.com