Global Chitin Market is valued approximately at USD 44.89 million in 2019 and is anticipated to grow with a healthy growth rate of more than 5.47% over the forecast period 2020-2026. The Chitin market is on the surging trend considering the global scenario. The Chitin market is primarily driven owing to surging construction in both developed and developing countries, escalating utility in the textile sector, enhancing demand of Chitin to treat diseases such as obesity, tuberculosis and diabetes along with escalating demand of cosmetics and personal care products on the global scenario. Chitin derivatives are polymers that exist naturally, with a wide variety of applications.
Recently demand for these goods has increased due to the large availability of the raw material used to produce chitin and chitosan derivatives. Increased usage in the agrochemical industry, increased production of shrimp waste, increased understanding of the benefits of chitin-based products in multiple end-use industries, increased use of chitin in various healthcare applications, increased production and use of chitosan and glucosamine (chitin derivatives), and increased use of chitosan in the beverage industry.
The regional analysis of Chitin market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Over the coming years, the Asia Pacific region is projected to see significant growth rate in the Chitin market owing to the rising agrochemical industry in the region.
Major market player included in this report are:
Heppe Medical Chitosan GmbH
Advanced Biopolymers AS
QBas Co Ltd.
United Chi Technologies Inc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product Derivative Type of key players. The detailed segments and sub-segment of the market are explained below:
By Derivative Type:
Food and Beverages
Cosmetics and Toiletries
Waste and Water Treatment
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Chitin Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers