Chitosan refers to a semisynthetic material that is obtained through the deacetylation of chitin. It comprises N-acetyl-glucosamine (acetylated monomer) and glucosamine (deacetylated monomer) monomers, which are linked through β-,4 glycosidic bonds. At present, a considerable volume of this material is used as food preservative to extend shelf life of perishable food items, owing to its non-toxic property. Unlike traditional preservatives, such as formalin, chitosan is more biocompatible and does not lead to cancer, lung diseases, and skin disorders.
Thus, the increasing use of chitosan as food preservative will support the chitosan market growth during the forecast period (2021–2030). Moreover, the surging use of this chemical in drug delivery systems, on account of its ability to reduce enzyme degradation, facilitate the uptake of drugs by target tissues or cells, prolong cycle time, and increase water solubility and stability of drugs, will also contribute to the market growth exponentially. According to P&S Intelligence, the market generated $1.8 billion revenue in 2020.
In recent years, chitosan producers have focused on product launches to cater to the evolving needs of customers. For instance, in March 2020, Bioavanta Ltd., an organization involved in the research of chitosan nanoparticles, introduced Novochizol, a chitosan nanoparticle technology. This technology can be used for delivering and confining any potential of anti-COVID-19 drugs to the lungs of critically ill patients. Similarly, Axio Biosolutions Private Limited, KitoZyme LLC, FMC Corporation, Bio21 Co., Advanced Biopolymers AS, and Golden-Shell Pharmaceutical Co. Ltd. are also engaging in product launches to meet the requirements of existing and potential customers.
Globally, the Asia-Pacific chitosan market generated the highest revenue during the historical period (2015–2020), and it is also expected to exhibit the fastest growth during the forecast period. This can be credited to the surging focus of market players on R&D and the increasing prevalence of chronic diseases in the region. Additionally, the mounting investments being made by private and government organizations of India, China, and Malaysia in the water treatment sector will also steer the demand for chitosan in APAC.
Therefore, the surging need for non-toxic food preservatives and the burgeoning demand for bioactive materials are expected to fuel the consumption of chitosan across the world.
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