Market Research Report
Chitin and Chitosan Derivatives
|Chitin and Chitosan Derivatives|
Published: April 1, 2021
Global Industry Analysts, Inc.
Content info: 197 Pages
Delivery time: 1-2 business days
Global Chitin and Chitosan Derivatives Market to Reach 281.7 Thousand Metric Tons by 2027
Amid the COVID-19 crisis, the global market for Chitin and Chitosan Derivatives estimated at 106.9 Thousand Metric Tons in the year 2020, is projected to reach a revised size of 281.7 Thousand Metric Tons by 2027, growing at a CAGR of 14.8% over the analysis period 2020-2027. Chitosan, one of the segments analyzed in the report, is projected to record a 16.9% CAGR and reach 173.9 Thousand Metric Tons by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Glucosamine segment is readjusted to a revised 11.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at 31.6 Thousand Metric Tons, While China is Forecast to Grow at 14.1% CAGR
The Chitin and Chitosan Derivatives market in the U.S. is estimated at 31.6 Thousand Metric Tons in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 48.5 Thousand Metric Tons by the year 2027 trailing a CAGR of 14.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.3% and 12.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.6% CAGR.
Other Derivatives Segment to Record 13.8% CAGR
In the global Other Derivatives segment, USA, Canada, Japan, China and Europe will drive the 13.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of 4.9 Thousand Metric Tons in the year 2020 will reach a projected size of 11.9 Thousand Metric Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 33.3 Thousand Metric Tons by the year 2027.
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