Chitosan Market: Growth, Trends, and Future Outlook
The Chitosan Market is expected to grow at a considerable rate due to rising demand from diversified sectors including pharmaceuticals, cosmetics, water treatment, and agriculture. Chitosan is derived from chitin, which is the main constituent of the crustacean shells like crabs, lobsters, and shrimp. It is one of the linear biopolymers that exists in nature with commercial potential. It is composed of D-glucosamine and N-acetyl-D-glucosamine, which have antimicrobial, biodegradable, and biocompatible properties and are finding increasing applications in numerous industries such as pharmaceuticals, cosmetics, water treatment, and agriculture. The global Chitosan Market, valued at US$ 2.95 billion in 2023, is anticipated to reach US$ 7.06 billion by 2031, with a compound annual growth rate (CAGR) of 11.5% during 2023-2031 due to the people's growing interest in natural and sustainable products as well as their understanding of the importance of biopolymers. Key Market Drive...