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Asia Pacific chitosan market was valued at US$ 838.77 million in 2018 and is projected to reach US$ 2,250.69 million by 2027; it is expected to grow at a CAGR of 11.6% during the forecast period. Chitosan is a natural fibrous material derived from chitin. It is a substance produced in the outer shell of some shellfishes such as lobsters, crabs, and shrimps. Certain varieties of fungi have also been known to produce low amounts of chitin in their cell walls. However, the unavailability of an optimal procedure for commercial-scale chitin extraction from fungi makes it a less used source for obtaining chitosan. Chitosan is a rich fiber source and is increasingly being incorporated into dietary supplements for promoting weight loss as it blocks the absorption of cholesterol and dietary fats; therefore, it is being used in medicines to cure medical conditions such as high cholesterol, obesity, and Crohn’s disease. Chitosan is also directly applied on the gums to alleviate inflammation of gums.
The report covers profiles of top players that are functioning in the Asia Pacific Chitosan Market:
FMC Corporation, G.T.C. Bio Corporation, Golden-Shell Pharmaceutical Co. Ltd., Panvo Organics Pvt. Ltd., Qingdao Yunzhou Biochemistry Co., Ltd
Asia Pacific Chitosan Market Segmentation: By Types
Industrial Grade, Food Grade and Pharmaceutical Grade
Asia Pacific Chitosan Market Segmentation: By Applications
Water Treatment, Food and Beverages, Biomedical and Pharmaceuticals, Cosmetics
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Japan accounts for the largest share of the Asia Pacific chitosan market. The market growth in Asia Pacific is mainly ascribed to the ever-increasing disposable income of the middle-income group population. Consumers are willing to pay higher prices for healthy food products containing natural ingredients, such as chitosan, to deal with the medical conditions such as overweight and obesity as well as for gaining protection against chronic diseases, such as diabetes, hypertension, cardiac issues, and orthopedic diseases. Rapid developments in the water treatment, food and beverages, biomedical and pharmaceuticals, and cosmetics industries in Japan, China, India, and South Korea are boosting the demand for chitosan.
These factors are expected to offer broad growth opportunities in this is expected to cause the demand for Chitosan in the market.
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