The market for chitosan oligosaccharides is expected to reach US$ 2.5 billion in 2022 and US$ 9.8 billion by the end of 2032, expanding at a CAGR of 14% over the forecast period (2022-2032). Increased waste from the seafood sector, government support for waste utilization, and an increase in its applications are driving the need for chitosan oligosaccharides.
Several Applications of Chitosan Oligosaccharides Boosts its Market
The expansion of the agriculture industry is expected to benefit the chitosan oligosaccharides market. According to the FAO, agriculture provides a living for more than 60% of the world’s population. As the world’s population grows, so will the demand for agricultural products, which will drive up demand for agricultural fertilisers and other similar products.
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The chitosan oligosaccharide is used in the preparation of fertilizers, seed treatment products, plant activator, etc. Chitosan oligosaccharide has excellent solubility and beneficial antioxidant and antimicrobial properties which increases the innate immunity of the plants. Chitosan oligosaccharide decreases and eliminates the infection against the pathogenic agents and regulates the immunization at the gene level. Thus, the manufacturers in the agricultural industry are anticipated to prefer the use of chitosan oligosaccharides in the preparation of various agricultural products. Thus, the increase in the agriculture industry is estimated to boost the sales of chitosan oligosaccharide.
Approximately 6 million tons of crab, lobster, and shrimp shell’s waste is generated all over the world every year. Such waste can be utilized in the production of chitosan, which can be further hydrolyzed to obtain chitosan oligosaccharide. The abundance of raw material is estimated to serve as a driver for chitosan oligosaccharide market.
The high production cost is expected to serve as a restraint for the chitosan oligosaccharide market. The production of chitosan oligosaccharides is a time-consuming process and requires close monitoring to maintain the quality of the product. The process of hydrolyzes to form chitosan oligosaccharides requires monitoring a difference in process timing can affect its chain length and solubility.
Chitosan Oligosaccharides Market: Regional Analysis
The demand for chitosan oligosaccharide is estimated to increase in the Asia Pacific region. The increase in urbanization and industrialization are expected to serve as drivers for the chitosan oligosaccharide market. As industrialization increases, the quantity of wastewater also increases. Also, the decrease in the groundwater levels makes it necessary to use a proper wastewater treatment procedure to fulfill the water requirements of the huge population. Thus, the increase in wastewater treatment is anticipated to have a positive impact on the chitosan oligosaccharide market as it is an eco-friendly chemical which can be effectively used in the treatment of wastewater. Also, the increase in the agricultural sector is estimated to boost the demand for chitosan oligosaccharide in the Asia Pacific region.
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Chitosan Oligosaccharides Market: Key Participants
Few of the key market players in the chitosan oligosaccharides market are:
- Kunpoong Bio Co., Ltd
- Auro Biotechnologies Pvt. Ltd.
- Marshall Marine Products
- News-Golden-Shell Pharmaceutical Co., Ltd
- T.C. Bio Corporation
- Zhejiang Aoxing Biotechnology Co.,LTD
- Jinan Haidebei Marine Bioengineering Co.Ltd.
- Yaizu Suisankagaku Industry Co., Ltd.
The research report presents a comprehensive assessment of the chitosan oligosaccharides market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as source, form, grade, and end-use.
The regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Chitosan Oligosaccharides Market Segmentation
The chitosan oligosaccharides market can be segmented on the basis of source, form, grade, and end-use –
The chitosan oligosaccharides market can be segmented on the basis of the source as:
- Crab
- Shrimp
The chitosan oligosaccharides market can be segmented on the basis of the form as:
- Liquid
- Powder
The chitosan oligosaccharides market can be segmented on the basis of the grade as:
- Food Grade
- Agriculture Grade
- Pharmaceutical Grade
- Cosmetic Grade
The chitosan oligosaccharides market can be segmented on the basis of the end-use as:
- Food and Beverage Industry
- Waste Water Treatment
- Pharmaceutical Industry
- Cosmetic and Personal Care Industry
- Agriculture Industry
- Textile Industry
- Chemical Industry
- Animal Feed Supplements
Report Highlights:
- Detailed overview of parent market
- Changing dynamics of the chitosan oligosaccharides market in the industry
- In-depth market segmentation and analysis
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments in the chitosan oligosaccharides market
- Competitive landscape of the chitosan oligosaccharides market
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on chitosan oligosaccharides market performance
- Must-have information for chitosan oligosaccharides market players to sustain and enhance their market footprint
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