Chitosan Market – Anticipated To Register A CAGR Of 18 Percent During The Forecast Period

 

Chitosan refers to a crude polymer of carbohydrate and is obtained from chetin. It is also obtained from sources of fungi by substrate fermentation. The worldwide chitosan market is very prominent and has a broad range of applications in different consumer industries.

 

Requirement for chitosan from cosmetics industry and water treatment, particularly from the industrialized Europe, North America and Japan is driving the chitosan market. Growing requirement for crude polymers in the industry of beauty and aesthetics is also driving the market.

 

The high manufacturing cost of quality chitosan acts as a hindrance in the smooth progress of the market. The chitosan market was worth about USD 1.3 billion in 2013 and is anticipated to rise from 2014 to 2020, at a CAGR of around 18 percent.