The "Chitin and Chitosan Derivatives - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
Global Chitin and Chitosan Derivatives Market to Reach $24.9 Billion by 2030
The global market for Chitin and Chitosan Derivatives estimated at US$9.2 Billion in the year 2023, is projected to reach a revised size of US$24.9 Billion by 2030, growing at a CAGR of 15.3% over the analysis period 2023-2030.
Chitin and chitosan, versatile biomaterials, are undergoing current and future analysis, comparing biopolymers with fossil fuels and assessing factors determining their long-term viability. The bacteriostatic property of chitosans is an application area gathering significant interest, albeit with regulatory concerns. In 2024, derivatives of chitin and chitosan see competition among global key competitors, with varying degrees of market presence.
Chitosan Derivative is expected to record a 17.2% CAGR and reach US$15.1 Billion by the end of the analysis period. Growth in the Glucosamine Derivative segment is estimated at 11.9% CAGR for the next 7-year period.
Glucosamine maintains its lead in dietary supplements, sourced increasingly from plants, driven by the rising prevalence of arthritis and orthopedic disorders. Nutraceuticals continue to fuel growth, while chitosan gains traction in weight management and cholesterol control. Additionally, the increasing use of chitosan in water treatment and bioanalytical sciences, along with the demand for natural skincare products, augurs well for market expansion.
The U.S. Market is Estimated at $2.7 Billion, While China is Forecast to Grow at 14% CAGR
The Chitin and Chitosan Derivatives market in the U.S. is estimated at US$2.7 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$4.1 Billion by the year 2030 trailing a CAGR of 14% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14% and 12.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 10.7% CAGR.
Key Attributes:
Report Attribute | Details |
No. of Pages | 192 |
Forecast Period | 2023 - 2030 |
Estimated Market Value (USD) in 2023 | $9.2 Billion |
Forecasted Market Value (USD) by 2030 | $24.9 Billion |
Compound Annual Growth Rate | 15.3% |
Regions Covered | Global |
MARKET OVERVIEW
MARKET TRENDS & DRIVERS
FOCUS ON SELECT PLAYERS (Total 39 Featured)
For more information about this report visit https://www.researchandmarkets.com/r/lul95s
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