The scope of "The Insight Partners" study involves understanding the factors responsible for the growth of chitosan market; it also includes estimating and forecasting the revenues as well as conducting the market share analysis, along with spotting significant market players and their key developments. 

The global chitosan market was valued at US$ 1,764.26 million in 2018 and is projected to reach US$ 4,698.73 million by 2027; it is expected to grow at a CAGR of 11.5% from 2019 to 2027. Chitosan is a natural fibrous material derived from chitin. Chitin is a substance that is produced in the outer shell of shellfish such as lobsters, crabs, and shrimps. Shrimps are considered to be a major source of chitosan as they contain about 25% to 40%of chitin content. Besides shell fish and crustaceans, certain varieties of fungi have also been known to produce low amounts of chitin in their cell walls. However, the lack of an optimal procedure for extraction of chitin on a commercial scale from fungi makes it a less used source for obtaining chitosan. Chitosan is a rich fiber source and is increasingly incorporated into dietary supplements for promoting weight loss. It is a fibrous material which blocks the absorption of cholesterol and dietary fats and hence is used in medicines to cure diseases such as high cholesterol, obesity, and crohn’s disease. Chitosan is also directly applied on the gums to alleviate inflammation of the gums.

Chitosan has been used in a wide range of hair products such as shampoos, hair colorants, rinses, hair sprays, and hair tonics, permanent wave agents, styling lotions. Chitosan and its cationic derivatives have the potential to interact with keratin to form transparent, elastic films over hair fiber. These films help in increasing hair strength, hair softness, and avoid hair damage. With the increasing demand for hair care products, the application of chitosan in hair care products is estimated to boost the market all over the globe. It has been estimated that the application of chitosan in the hair care and cosmetic products is estimated to be growing at a swift pace and will contribute to the expansion and development of the chitosan market all over the globe. The application of polymers in hair care products is gaining courtesy due to its potential to enhance the rheological behavior of the product or to develop the adhesion of other ingredients to the hair. Androgenetic alopecia is a common illness affecting both males and females. It is a genetically determined syndrome characterized by the gradual conversion of terminal hairs into indeterminate and, lastly, into vellus hairs. The standard treatment for both male and female androgenic alopecia is Minoxidilsulphate in topic treatment. Chitosan nanoparticles are generally used in the minoxidilsulphate treatment. The chitosan nanoparticles help in sustaining the treatment, and further advancements are known to create an upsurge in the chitosan market all over the globe.

The major players operating in the global chitosan market include Advanced Biopolymers AS, Kitosano SL, FMC Corporation, GTC Biocorporation, Golden-Shell Pharmaceutical Co. Ltd., Heppe Medical Chitosan GmbH., Kitozyme LLC., Panvo Organics Pvt Ltd., Primex EHF, and Qingdao Yunzhou Biochemistry Co., Ltd.among others. The major players in the chitosan market are focused on strategies such as expansion and product launches to increase the geographical presence and consumer base globally. For instance, in 2019 SuperBIO had  assisted  KitoSano to contact companies involved in their value chain, a red crayfish shell river provider (Spain), whose waste would be reused to produce chitosan and a company leader in the development of biopolymer applications (Northern Europe). In 2020, KitoZyme introduced KiOsmetine, a patented range of non-animal chitosan for hair care, skincare, color cosmetics, deodorant, and oral care. KiOsmetine is made from fungi, valorizing co-products into high quality and high purity biopolymers with strong claims in wide applications.

Based on grade, the chitosan market has been segmented into industrial grade, food grade, and pharmaceutical grade. In 2018, the industrial grade segment dominated the chitosan market. The use of chitosan in the manufacture of bio fertilizers and other agrochemicals to promote crop growth, improve yield, and inhibit crop diseases has led to significant consumption of chitosan in the agricultural industry. The burgeoning consumption of chitosan in major application such as bio fertilizers, fodders, papermaking, water treatment, and recycling of macromolecular substances has given impetus to the industrial grade chitosan. Furthermore, chitosan is particularly appreciated by the cosmetic and agriculture industries as it is readily soluble in water.

The COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then it has spread across the globe at a fast pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst affected countries in terms of positive cases and reported deaths as of March 2020. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global food & beverage and chemical industry is one of the major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak.

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