North America Chitosan Market

How the Historical and Future Outlook for North America Chitosan Market Match Up?

The chitosan market is expected to grow with a significant growth rate in the Unites States of America during the assessment period. The consumption of Chitosan is further estimated to grow by approximately 3.8 times over the forecast period in North America.

The growth of the Chitosan market has been contributed by the growing demand for biodegradable and biocompatible substances in various end use industries including, pharmaceuticals and biomedical, personal care and cosmetics, water and waste water treatment, food and beverages, and others. This is due to manufacturers’ preference for the use of products with low carbon footprint along with the products which are associated with low waste generation which will decrease the cost of waste disposal and treatment to increase the profit margin. 

On the basis of sources used for the production of chitosan, shrimp is anticipated to remain most preferred. Other sources includes lobsters, crabs, and fungi. Furthermore, there are several trends which are shaping the market of Chitosan in North America, which includes growing competition between the market participants, sustainable development, increasing investment in research for the development of the innovative and advance products and many others.

According to FMI’s analysis, chitosan market will grow at 14.3% CAGR between 2021 and 2031. Chitosan is used in various end-use industries such as, pharmaceuticals and biomedical, water treatment, in personal care and cosmetics, agrochemicals, surgery and many others for several applications. Significantly growing end use segments is expected to benefit the market of chitosan. Moreover the growing demand for biodegradable and biocompatible materials in these end use industries is anticipated to boost the market of chitosan. Due to biocompatible nature, chitosan can be used in tissue engineering, for drug delivery, further the compound is used as coagulating and flocculating agent for water treatment, chitosan is further used as preservatives and as an ingredient if food and beverages and in nutraceuticals.

However, due to the ongoing COVID-19 crisis, the economy of the region and the performance of the industrial as well as commercial sectors have been immensely impacted due to the disruption in the supply chain and reducing demand. The same trend has also been observed to be true in the case of chitosan, wherein reduce in the demand from water treatment, pulp and paper industry, from agrochemical and from personal care and cosmetics industry has impacted the growth rate of chitosan in North America to considerable extent in the year 2020.

However, with the initiatives taken by the government to recover the economic growth and revive the performance of the industrial as well as commercial sector, chitosan market is expected to get the desirable growth from the year 2021.

Why is Research & Development Considered Key to Chitosan Market Growth?

Investment in research and development (R&D) for the development of advance and innovative products to meet the growing demand and challenges faced by the end-use industries plays a crucial role for the market growth of a product.

Some of the key participants are investing in R&D to introduce advance and innovative chitosan product to cater the growing demand from the end-use application sectors. Their efforts also are intended to increasing their market footprint. Further, the investment is being done for process development to manufacture chitosan by consuming less energy and emitting minimum Greenhouse gas.

A significant amount is also been invested in nanotechnology, to utilize chitosan nanoparticles for drug delivery system to treat cancer and also to utilize chitosan in tissue engineering.

Does High Price For Chitosan Production Affect The Market?

Extracting chitin from various living organisms and transforming it to chitosan and other chitosan-based products is an energy-intensive and expensive process. The process further generates a huge amount of waste and to neutralize this waste, a large amount of energy and cost are consumed. Chitosan and its derivatives are generally imported from Asia Pacific, including China, Japan, India and other Southeast Asian countries owing to low cost and the limited production capacity of the manufacturers of North America.

Several chitosan manufacturers of North America produce chitosan by Good Manufacturing Practices (GMP) process. GMP is a system that ensures the product being produced is consistent and controlled as per the quality standards set for that particular product. This type of practices is being done in the field of pharmaceuticals, dietary supplements, cosmetics, food and beverages and others. All these factors contribute to the high cost of chitosan. High cost of chitosan affects the growth of chitosan for its bulk usage in several end use applications.

Country-wise Insights

Why the U.S. Dominates the North America Chitosan Market?

In North America, the U.S. holds for a prominent share in the market, accounting for about fourth fifth of the chitosan consumption in the region. Owing to the strong industrialization and rapidly growing end-use application sectors the demand of chitosan has increased in the country. Further, thanks to strong trade relationship with the Asian players, import of chitosan based products from various Asian countries like China, India, Japan and others remain easy for the country, as Asian players provides chitosan at a low cost. Further, the growing research for the use of biopolymers in various end use industries is expected to benefit the market of chitosan in the country.

What is Driving Chitosan Sales in Canada?

In the North America Chitosan market Canada holds about one fifth of the market share and the market is estimated to witness a significant growth rate over the forecast period. Pharmaceuticals and biomedical and personal care application segments are expected to remain the prominent end users of for chitosan in Canada. Moreover, the growing demand of biopolymers in various end use industries is estimated to boost the market of Chitosan in the coming years in the country.

Category-wise Insights

What Is The Market Share Of Water Treatment In North America Chitosan Market?

Chitosan is used as coagulating and flocculating agent for the treatment of water and waste water. It is because the compound helps to remove metal ions, bacteria, fungi and other microbes, dust particles, and other impurities from water and reduces odor from water. Water treatment application segment accounts for about fifteen percent of the overall chitosan consumption in North America. Moreover, the growing demand for water and waste water treatment in the region is expected to boost the market of Chitosan in the coming years.

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What is the Preferred Source for Deriving Chitosan?

A number of sources are used for the extraction of chitin for the production chitosan such as, lobsters, fungi, crabs, shrimps and many others. Of all the sources, shrimp is anticipated to remain the prominent source utilized for the manufacturing chitosan in the region owing to the easy processing. The source is further anticipated to grow with a substantial growth rate during the assessment period.

Opportunities in Chitosan market:

It is being anticipated that nanotechnology will gradually make inroads in several sectors including medical, surgery, electronics, defense, water treatment, and others. Functional groups present in chitosan (hydroxyl and amino group) make chitosan an excellent adsorbing substance. Chitosan zinc oxide nanoparticles are efficient in removing 99% of colors from the effluent stream of the textile industry.

Chitosan nanoparticles can further be used as antibacterial and antimicrobial agents and gene delivery agents. These nanoparticles can also be used in antimicrobial textiles for the production of clothes for doctors, surgeons and other healthcare professionals. Chitosan nanoparticles can further be utilized for skin regeneration. This type of nanoparticles can further be used for drug delivery systems, to treat cancer cells. Since chitosan is positively charged, it can attract negatively charged mucus and act as an excellent carrier for mucoadhesive drugs.

Competitive Landscape

The key market participants are continuously looking for ways to provide higher quality products at efficient costs, and stable supply for long durations, which will help them to run their business smoothly. Many of the small market participants are entering into long-term contracts with contract manufacturers to supply customized products at cost-competitive prices for the end use applications. The chitosan market is a fragmented market in which about one third of the market value share is owned by the main players.

Some of the prominent market participants operating in the Chitosan market are:

• KitoZyme S.A.
• Tidal Vision Inc.
• Chitolytic
• CarboMer, Inc.
• Spectrum Chemical MFG Corp.
• Foodchem International Corporation
• Meron Group
• Mycodev Group
• Toronto research Chemicals
• MP Biomedicals

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of the Report

Key Questions Answered in the Report

• Which Country is the most lucrative market for Chitosan in North America?

  The U.S. is estimated to remain the dominant in the North America chitosan market owing to strong presence of various end-use industries and some of the leading manufacturers.

• Which is the preferred source for deriving Chitosan?

  Shrimp is expected to remain the most preferred source for the production of Chitosan due to its easy processing. Shrimp can be easily broken down, easily solubility and it requires less processing.

• Which application segment is exhibiting high demand for Chitosan?

  Chitosan is extensively used in pharmaceuticals and biomedicals segment for various applications. Chitosan also is used for the treatment of several diseases such as, arthritis and tuberculosis, for healing wounds, controlling obesity by absorbing fat, controlling cholesterol levels in the body, and to implant fat.

• Which are some of the prominent manufacturers of Chitosan in North America?

  Some of the leading companies manufacturing Chitosan are Tidal Vision Inc., Chitolytic, CarboMer, Inc., Spectrum Chemical MFG Corp. and others.

• Which are the key applications of Chitosan?

  Pharmaceuticals and biomedical, personal care and cosmetics, and other application segments are expected to exhibit high demand for chitosan in North America. /p>

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Chitosan Market by Category

Source

• Shrimp
• Crab
• Others

Application

• Water Treatment
• Personal Care
• Pharmaceuticals & Biomedical
• Food & Beverages
• Agrochemicals
• Others

Region

• North America

Country

• U.S.
• Canada