Rising water treatment activities mainly in Asia Pacific is anticipated to boost product demand, which will have subsequent impact on the overall chitosan market size in the coming years.
Sellbyville, DE -- (SBWIRE) -- 06/17/2019 -- Global Market Insights, Inc. recently introduced new title on 2018-2024 chitosan Market Report from its database. The report provides study with in-depth overview, describing about the Product, Industry Scope and elaborates market outlook and status to 2024.
Stringent environmental policies are being imposed by European Commission, which triggered increasing initiatives for waste water treatment in the region. According to European Commission, a total of USD 25 billion has been invested to achieve implementation of Urban Waste Water Treatment Development (UWWTD) in Europe. The aforementioned parameters will greatly impact product demand, owing to its wide-ranging applications in treating waste water, which in turn will have succeeding positive influence on the chitosan market by 2024.
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Product is used as a flocculating agent for waste water treatment and as a chelating agent for removal of metal traces in waste water. Furthermore, Europe has an established frozen meat market, due to which food additives are in demand for preservation. For instance, food & beverage industry accounts for the third largest industry in Germany with more than 85 million consumers in Germany's retail food business in 2017. Product is widely applicable in making biodegradable films for packaging food, due to its non-toxicity, which will make notable contribution to the chitosan market by 2024.
Strong competition from animal feed manufacturers who are also engaged in procuring shrimps, prawns, crabs, etc. to feed cattle, farm pigs, and other poultry animals as well as in aquaculture. It resulted in the higher demand for shrimp shells, escalating procurement cost due to bottleneck supply, which is probable to hinder the growth of chitosan market by 2024.
Chitosan attained from prawns market is expected to witness gains of approximately19% by 2024. Prawns are small aquatic crustaceans with an exoskeleton and ten legs. They are broadly used in the development of chitin via multistep process involving washing, blending, decalcification, deproteination, followed by deacetylation of Chitin to produce the final product. It finds wide-ranging applications in water treatment, agrochemical, food & beverage, personal care, healthcare, among various others. For instance, in the personal care industry, product is used to produce skin care, hair care as well as dental care products. Additionally, significant demand for organic, non-toxic ingredients in cosmetics is likely to make noteworthy contribution to the overall chitosan market by 2024.
According to end-user industry, chitosan market for agrochemical industry captured close to 20% of the global business size in 2017. It is mainly credited to product use in enhancing seed viability, increasing yield, and reducing decay of fruits and vegetables. Additionally, it is also used as fertilizer in the controlled agrochemical release to improve plant productivity. Rising research initiatives mainly in the BRIC nations to attain higher yield will have positive impact on the product demand and thereby driving chitosan market by 2024.
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The Middle East & Africa chitosan market is probable to witness gains close to 19.5% by 2024. It is primarily due to rising initiatives by government towards water treatment technologies in Middle East countries, for instance UAE has taken initiate to bring awareness towards cleanliness and maintaining healthy environment. Additionally, growing food & beverage industry in the region due to strong population rise will also have succeeding impact on product demand, thereby triggering chitosan market by 2024.
The major chitosan industry share players are: FMC Health & Nutrition, Primex, Panvo Organics, GTC Bio Corp., PT Biotech Surindo, KitoZyme, Golden-Shell Pharmaceutical, among various others. The company's in the business are making substantial contribution to enhance its portfolio to gain monopoly in the industry. For example, in April 2013, Primex ehf introduced a new product named LipoSan Ultra, a weight loss product to be used in beverages and functional foods.
Glimpse of Table of Content (ToC)
Chapter 3. Chitosan Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2014 - 2024
3.3. Industry ecosystem analysis
3.3.1. Raw material analysis
3.3.2. Manufacturing trends
3.3.3. Profit margin
3.3.4. Value addition
3.3.5. Distribution channel analysis
3.3.6. Vendor matrix
126.96.36.199. List of key raw material suppliers
188.8.131.52. List of key manufacturers/distributors
184.108.40.206. List of key/potential customers
3.4. Innovation & sustainability
3.4.1. Patent analysis
3.4.2. Technology landscape
3.4.3. Future trends
3.5. Industry impact forces
3.5.1. Growth drivers
220.127.116.11. Global drivers
18.104.22.168.1. Rising water treatment activities in Asia Pacific
22.214.171.124.2. Strong source demand from cosmetics industry in Europe and North America
126.96.36.199.3. Strong advancements in healthcare/medical industry in North America
188.8.131.52.4. Rapidly growing agricultural activities in Asia Pacific
3.5.2. Industry pitfalls & challenges
184.108.40.206. High production cost
3.6. Regulatory landscape
3.7. Growth potential analysis
3.8. Regional price trends
3.8.1. Cost structure analysis
220.127.116.11. R&D cost
18.104.22.168. Manufacturing & equipment cost
22.214.171.124. Raw material cost
126.96.36.199. Distribution cost
188.8.131.52. Operating cost
184.108.40.206. Miscellaneous cost
3.8.2. Price by source
3.8.3. Price by end-user
3.9. Competitive landscape, 2017
3.9.1. Company market share analysis, 2017
3.9.2. Strategic dashboard
3.10. Porter's analysis
3.10.1. Supplier power
3.10.2. Buyer power
3.10.3. Threat of new entrants
3.10.4. Threat of substitutes
3.10.5. Industry rivalry
3.11. PESTEL analysis
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