SAN FRANCISCO, April 13, 2016 /PRNewswire/ --
The global chitosan market is expected to reach USD 1.49 billion by 2022, according to a new report by Grand View Research, Inc. Market demand is primarily driven by abundant raw material availability, low price, and superior product quality. Rising applications scope of the product as an eco-friendly option in textile and agrochemical industry is expected to propel demand over the projected period.
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The increasing use of chitosan as a chelating, coagulating and flocculating agent in waste water treatment is expected to have a positive impact on the market growth. Furthermore, rising use of bio-based skin and hair care products including shampoo, color cosmetics and hair sprays among female consumers is likely to augment demand over the next seven years.
Chitosan is a bio-polymer primarily obtained from shrimp shells. Shrimp shells are disposed of as waste material in fishery industry. As a result, integration with the fishery industries to source raw material is the key factor promoting growth. In addition, abundant raw material availability coupled with low cost is expected to propel demand over the forecast period.
Rising consumer awareness regarding benefits of chitosan coupled with demand-supply gap due to low production volumes especially in North America and Europe is expected to offer an opportunity for new players. Furthermore, initiatives taken by various governments to support the progress of the fishery industry and to increase use of naturally derived products are expected to drive growth over the next seven years.
Browse full research report with TOC on "Chitosan Market Analysis By Application (Water Treatment, Pharmaceutical & Biomedical, Cosmetics, Food & Beverage) And Segment Forecasts To 2022" at: http://www.grandviewresearch.com/industry-analysis/global-chitosan-market
Further key findings from the report suggest:
Grand View Research has segmented the chitosan market on the basis of application and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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