London, 13 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global chitosan market 2015-2019, which is expected to grow rapidly at a CAGR of 18.36% in terms of volume during the forecast period of 2014-2019.
The market is expected to grow rapidly during the forecast period because of increasing consumption of chitosan in water treatment and the cosmetics industry. Chitosan is used as a flocculating and chelating agent for removing various traces of metals from industrial wastewater.
“Chitosan is used as a substitute to petroleum by-products such as plastics used in food packing, which are not recyclable,” says Faisal Ghaus, Vice President of Technavio.
“Chitosan is increasingly preferred for food packaging as it is produced from the shells of prawns and different scavengers, and is biodegradable, and also possess antimicrobial properties.”
Key Market Drivers
- Increased Use of Chitosan in Cosmetics
- Rise in Demand for Water Treatment in Developed Nations
- Increased Demand for Chitosan in Emerging Countries
Key Market Trends
- Increasing Demand from APAC
- Use of Chitosan in Fuel Cells
- Emerging Use of Chitosan as Alternative in Food Packaging
Key Market Vendors
- Biothera
- FMC Health and Nutrition
- Golden-Shell Pharmaceutical Co. Ltd.
- G.T.C. Bio Corp.
- KitoZyme SA
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
