Chitin Fertilizer Market Size Forecast to Reach Around $25 Billion by 2025

October 9, 2020
Blessy

Chitin Fertilizer Market size is forecast to reach around $25 billion by 2025, after growing at a CAGR of 18% during 2020-2025. Chitin is the second most abundant carbohydrate biopolymer in the biosphere, after cellulose. The increasing population coupled with a decrease in landmass is driving the growth of chitin fertilizer market globally. Additionally, the need to increase the efficiency and yield of crops without degrading the environment is also augmenting the growth of chitin fertilizer market. Moreover, government steps towards sustainability and various schemes such as National Project on Organic Farming have also enhanced the growth of chitin fertilizer market.

Key Takeaways

Rapid population growth in countries like China, India, and Indonesia with decrease in landmass and adoption of new farming methods has propelled the chitin fertilizer market.

Properties such as anti-microbial, biocompatibility and non-toxicity of chitin are the major factors driving the growth of chitin fertilizer market.

Increasing environmental concerns due to adverse effect of synthetic fertilizers are also contributing to the growth of chitin fertilizer market size during the forecast period.

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Application – Segment Analysis

Seed treatment is the fastest growing segment with a CAGR of 22% in the chitin fertilizer market during the forecast period owing to enhance the proper seed growth of vegetables and fruits. The use of chitin fertilizer alters the permeability of the seed plasma membrane, significantly increases the concentration of sugar, proline, and enzyme activities, thus allow seedlings to germinate quicker. Furthermore, Chitin has a cation which combines with anion of bacteria and prevents further growth of bacteria. Whereas, amino and carboxyl groups of chitins combine with calcium, which helps in easy absorption of calcium.

Drivers – Chitin Fertilizer Market

Rapid growth in Population and decrease in landmass

Increase in sustainability and environmental concerns

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the chitin fertilizer market. Major players in the chitin fertilizer market are Advanced Biopolymers AS, Heppe Medical Chitosan GmbH, G.T.C. Bio Corporation, Primex EHF, Kitozyme LLC., DuPont Corporation, Inc., Golden-Shell Pharmaceutical Co. Ltd., Qingdao Yunzhou Biochemistry Co. Ltd., Meron Biopolymers, CarboMer Inc., Panvo Organics Pvt. Ltd., among others.

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