Europe Chitosan Market

Europe Chitosan Market Size (2023-2028):

The Europe Chitosan Market accounts for a prominent market share in the worldwide business. It is expected to grow at a CAGR of 12% in the foreseen period between 2023 and 2028.

Market Drivers and Restraints:

Chitosan is a kind of amino polysaccharide polymer that is often developed in the shells of seafood like crabs, lobsters, shrimps, and crayfish. The raw material for the product has different chitosan content hence playing an important role in commercial manufacturing.

• Growth in the food industry is also a major reason for the growth of the European chitosan market. The food-grade chitosan is considered to be highly versatile because of its high solubility and positive charge density. This makes it also suitable for industrial applications.

• The major business players in the chitosan business are investing in cost-effective and use safety procedures. Therefore, there is a lack of drive toward increasing investments and research. The optimal procedure for commercial-scale extraction can also be a hindering factor.

Market Segmentation:

Europe Chitosan Market - By Application:

• Water Treatment
• Medical & Pharmaceutical
• Biomedical
• Agrochemicals
• Food and Beverage

Europe Chitosan Market - By Grade:

• Industrial
• Food
• Pharmaceutical

Water treatment is the biggest application segment in the European chitosan market.

Industrial, commercial, and municipal waste treatment has become a major concern with respect to the stringent environmental regulations that have been implemented by various industries. Food-grade chitosan is determined to develop at a very high rate in the forecast period due to the readily available offshore shrimps and crabs that are used in industrial-grade chitosan.

In the packaging sector, chitosan is being implemented as an antimicrobial agent in the food processing industry. It offers freshness and prevents fungal infections, which is developing at a high pace in the market and the need is increasing.

Market Geographical Analysis:

As of now, Germany is the major market for chitosan. The production and consumption of chitosan products have grown tremendously in the last few years in the European nations.  The European region is among the largest markets for chitosan in the world.  This is major because of the strong existing economy that invests a lot in the pharmaceutical sector as well as the healthcare sector.

Impact of COVID-19 on the Europe Chitosan Market:

Europe has faced huge economic losses due to the COVID-19 outbreak. Italy, Spain, Russia, and France have been badly hit by the pandemic. Europe is likely to face severe losses in revenue from various industries. Other European Union member nations have temporarily closed their borders and implemented various drastic measures, which comprise travel restrictions that are determined to hamper the business growth in this area in the coming financial quarters. The situation got under control in mid-2021and the market is showing early signs of revival. Experts say that the market will be fully operational in 2021.

Market Key Players:

1. GTC bio corporations
2. KitoZyme LLC
3. Primex EHF
4. FMC Corporations
5. Meron Biopolymers

Market Recent Developments:

• Danaher completed the purchase of IDT and improved its courier zones to Cambridge, Oxford, and London, offering a next-day courier service. This service expansion will help IDT to increase its customer base, and also enable the starting and ending of a project sooner.