The food & beverages industry has been registering considerable growth over the past few years, which can be owing to the changing lifestyle of people in developing countries, growing penchant for trying new cuisines, rising disposable income of people, introduction of packaged food items, and busier lifestyle of people. The growing need for packaged, ready-to-eat food especially is a key trend in the food & beverages industry. Enhanced packaging solutions are needed for keeping packaged food fresh for a longer time and maintaining its quality, which is why the industry is making use of bioactive packaging films.
This, in turn, is leading to the increasing demand for chitosan, what is utilized for manufacturing bioactive packaging films. Chitosan is utilized in these films because it aids in enhancing the preservation method. As per a study conducted by P&S Intelligence, the global chitosan market is expected to progress at a substantial pace in the years to come. A sugar that is procured from the hard outer skeleton of a shellfish, such as shrimp, lobster, and crab, is referred to as chitosan. It is majorly utilized as for treating different conditions and is also used in the pharmaceutical industry.
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In fact, the growing adoption of chitosan in biomedical and pharmaceutical application is expected to open up wide opportunities for the companies operating in the domain. Chitosan is versatile, non-toxic, and biodegradable, thereby making it highly suitable for applications in the biomedical sector. A number of studies have been conducted and the results show that chitosan has antioxidant and wound healing properties and is also able to kill bulk fungal species that are pathogenic to humans. Furthermore, the nanoparticles of chitosan are used widely in vaccine and drug delivery, where it works as an antimicrobial agent, and is used in tissue engineering.
Geographically, the chitosan market has been categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA). The demand for chitosan is expected to witness a rise in the APAC region in the coming years, owing to the increasing investments in the medical sector, particularly in emerging economies, including China, India, and Thailand and other Southeast Asian countries. In addition, with the growing focus on the medical sector in these countries, the market for chitosan holds a significant potential for growth during the coming years.