Chitin Market Report: Trends, Forecast and Competitive Analysis to 2030

Chitin Trends and Forecast

The future of the global chitin market looks promising with opportunities in the food and beverages, agrochemical, healthcare, cosmetics and toiletries, and waste and water treatment markets. The global chitin market is expected to reach an estimated $3.5 billion by 2030 with a CAGR of 11.3% from 2024 to 2030. The major drivers for this market are growing demand of natural fiber biodegradable composites, wide range of nanotechnology applications and increasing use of chitin as a cooking and pharmaceutical thickener.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Chitin by Segment

The study includes a forecast for the global chitin by derivative type, end use, and region.

Chitin Market by Derivative Type [Shipment Analysis by Value from 2018 to 2030]:

• Glucosamine
• Chitosan

Chitin Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Food and Beverages
• Agrochemical
• Healthcare
• Cosmetics and Toiletries
• Waste and Water Treatment
• Others

Chitin Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Chitin Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies chitin companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the chitin companies profiled in this report include-

• Ningbo Zhenhai Haixin Biological
• AgraTech
• Hubei Huashan
• Advanced Biopolymers
• Heppe Medical Chitosan

Chitin Market Insights

Lucintel forecasts that glucosamine is expected to witness the higher growth over the forecast period due to wide range of applications in pharmaceutical and cooking thickener.

Within this market, healthcare is expected to witness the highest growth due to its non-toxicity, non-allergic, anti-microbial, and bio-degradability properties.

North America is expected to witness highest growth over the forecast period due to growing government investment in the pharma sector and presence of several food- and healthcare-related sectors.

Features of the Global Chitin Market

Market Size Estimates: Chitin market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Chitin market size by derivative type, end use, and region in terms of value ($B).

Regional Analysis: Chitin market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different derivative type, end use, and regions for the chitin market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the chitin market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the chitin market size?

Answer: The global chitin market is expected to reach an estimated $3.5 billion by 2030.

Q2. What is the growth forecast for chitin market?

Answer: The global chitin market is expected to grow with a CAGR of 11.3% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the chitin market?

Answer: The major drivers for this market are growing demand of natural fiber biodegradable composites, wide range of nanotechnology applications and increasing use of chitin as a cooking and pharmaceutical thickener.

Q4. What are the major segments for chitin market?

Answer: The future of the chitin market looks promising with opportunities in the food and beverages, agrochemical, healthcare, cosmetics and toiletries, and waste and water treatment markets.

Q5. Who are the key chitin market companies?

Answer: Some of the key chitin companies are as follows:

• Ningbo Zhenhai Haixin Biological
• AgraTech
• Hubei Huashan
• Advanced Biopolymers
• Heppe Medical Chitosan

Q6. Which chitin market segment will be the largest in future?

Answer: Lucintel forecasts that glucosamine is expected to witness the higher growth over the forecast period due to wide range of applications in pharmaceutical and cooking thickener.

Q7. In chitin market, which region is expected to be the largest in next 5 years?

Answer: North America is expected to witness highest growth over the forecast period due to growing government investment in the pharma sector and presence of several food- and healthcare-related sectors.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the chitin market by derivative type (glucosamine and chitosan), end use (food and beverages, agrochemical, healthcare, cosmetics and toiletries, waste and water treatment, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?