The Asia Pacific Chitosan Market would witness market growth of 17.4% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 165.39 kilo tonnes, showcasing a growth of 16.6% (2019-2022).
Industrial-grade chitosan, derived from chitin found in the exoskeletons of crustaceans, is widely utilized across diverse industries for its multifaceted advantages. In agriculture, it serves as a natural biopesticide and plant growth enhancer, promoting sustainable farming practices. Thus, the Japan market consumed 41.37 kilo tonnes of chitosan in 2022.
The China market dominated the Asia Pacific Chitosan Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,434.8 Million by 2030. The Japan market is showcasing a CAGR of 16.6% during (2023 - 2030). Additionally, The India market would register a CAGR of 18.1% during (2023 - 2030).
Chitosan, a versatile biopolymer with numerous applications and potential advantages, is derived from chitin. This naturally occurring polymer is widely distributed in the exoskeletons of crustaceans, including shrimp, crab, and lobster.
Additionally, its versatility extends across a broad spectrum of industries, where it finds applications in diverse fields ranging from healthcare and agriculture to environmental remediation and beyond.
The growth of the pharmaceutical sector in China presents opportunities for the market, particularly in developing innovative pharmaceutical formulations, biomedical devices, and regenerative medicine products. According to the International Trade Administration data, China's pharmaceutical sector is steadily expanding and is expected to stand at $161.8 billion by 2023, accounting for around 30% of the industry share.
Free Valuable Insights: The Global Chitosan Market is Predict to reach $ 36.2 Billion by 2030, at a CAGR of 17.2%
Based on Grade, the market is segmented into Industrial, Food, and Pharmaceutical. Based on Application, the market is segmented into Water Treatment, Food & Beverages, Cosmetics, Medical & Pharmaceuticals, Agrochemicals, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Grade (Volume, Kilo Tonnes, USD Billon, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billon, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billon, 2019-2030)
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