- Jul 19, 2018 -
Chitosan demand in waste water was valued at over USD 220 million in 2015. Growing demand for waste water treatment in various end-use industries including the dairy, textile, paper & pulp, chemical and metal cutting is expected to propel demand over the next eight years. It has the potential to remove heavy metals from water, as a result, has wide application scope for treating industrial wastewater.
Cosmetics is expected to be a key application segment for the product and is likely to grow at a CAGR of 20% from 2016 to 2025. Increasing demand for chitosan in cosmetics is expected to grow at a significant rate owing to its fungistatic and bacteriostatic properties. Furthermore, growing demand for bio-based color cosmetics such as lipsticks, eye shadows, and nail polishes is expected to propel demand over the forecast period.
Chitosan demand in food & beverage industry in Asia Pacific was valued over USD 45 million in 2015. The rapid growth of food & beverage, pharmaceutical and cosmetics industry in countries including China, Korea and India is expected to have a positive impact on the growth over the forecast period.
In Korea, Chitosan has been approved as a natural food additive, which is expected to propel its demand. The presence of key shrimp producing countries including Thailand and China is expected to be a key advantage in terms of raw material supply for chitosan market in this region.
Japan has been dominating the chitosan market over the past few years owing to the presence of abundant raw material coupled with early awareness regarding the benefits offered by the product.
The chitosan demand in Japan is primarily driven by water treatment application which accounts for over 60% of the total market share. Increasing demand for chitosan for manufacturing artificial skin and in wound dressing is expected to have a positive impact on the growth over the forecast period.