Chitosan Market Size Worth $28.93 Billion By 2027

The global chitosan market size is projected to reach USD 28.93 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a revenue-based CAGR of 24.7% during the forecast period. Increasing consumption of bio-derived products in water treatment, cosmetics, food and beverage, and pharmaceutical industries is likely to derive the growth.

Chitosan is marketed under various grades, such as industrial, pharmaceutical, and food depending upon the purity of the product. In the pharmaceutical industry, it is used as diluents for tablets, a binder in wet granulations, dis-integrant, drug carrier, and absorption enhancer. In addition, chitosan and its derivatives can easily penetrate the plasmatic membrane of microorganisms and kill bacteria, fungi, and other parasites. Hence, is used for treating infections in orthopedic, neurological, gynecological, and cardiovascular surgical procedures.

North America is expected to emerge as one of the major markets for chitosan during the forecasted period, registering a CAGR of 19.2% in terms of volume, between 2020 to 2027. The region has experienced a growing demand for chitosan products owing to increasing biobased industries. Manufacturers are heavily investing in R&D activities to develop the pure grade of chitosan. However, high production cost owing to the irregular supply of the raw material is anticipated to hamper market growth over the forecast period.

The market is highly fragmented in nature owing to the presence of a large number of small-scale players, especially in countries including Japan, China, Thailand, and South Korea. These countries have favorable government regulations to promote growth of their fishery industry. Hence, several companies such as Qingdao Yunzhou Biochemistry Co., Kyowa Technos Co., Ltd., Dainichiseika Color & Chemicals Mfg. Co. Ltd., and KIMICA Corporation have manufacturing as well as distribution channels present in the region.

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https://www.grandviewresearch.com/industry-analysis/global-chitosan-market

Further key findings from the report suggest:

In terms of revenue, chitosan is anticipated to expand at a CAGR of 24.7% from 2020 to 2027, since they are used in large quantities in the production of antiseptics, food items, cosmeticts, medicines, textiles, and other consumer products
The U.S. chitosan market is anticipated to exceed 36.98 kilo tons by 2025, owing to the abundant availability of raw material, which has further flourished the industrialization in the country
Some of the key market participants are Panvo Organics Pvt. Ltd.; Qingdao Yunzhou Biochemistry Co.; Meron Biopolymers; Advanced Biopolymers AS; Biophrame Technologies; Heppe Medical Chitosan GmbH; United Chitotechnologies Inc.; Foodchem International Corporation; KitoZyme S.A.; and Chitosanlab

Omega 3 Market Size Worth $4.50 Billion By 2027

The global omega 3 market size is projected to reach USD 4.50 billion by 2027, expanding at a CAGR of 7.7% over the forecast period, according to a new report by Grand View Research, Inc. Rising consumption of omega 3 in the active pharmaceutical ingredient (API) market is one of the major factors driving the demand for the product. Market growth can be attributed to rising health consciousness among consumers across the globe following a rise in the spread of chronic diseases.

Growing population in emerging countries, notably in Asia Pacific, has contributed to the growth of the market. In addition, the industry is driven by technological advancements pertaining to the manufacturing of APIs among other highly potent active ingredients across the globe. Strong growth of the dietary supplements market is another important factor bolstering the demand for omega 3. The product is increasingly consumed in the dietary supplements market to reduce the risk of cardiovascular and heart diseases.

Omega 3 is known to reduce the risk of arrhythmias or abnormal heartbeats. Furthermore, it slows down the growth rate of atherosclerotic plaque while lowering the levels of blood pressure in humans. The growth of the industry is also attributed to rising disposable income, notably among the middle class population in economies, such as China and India.

North America emerged as the largest regional omega 3 market in 2019. This is attributed to increasing focus of the market players on R&D activities for the development of various grades of omega 3, most notably pharma grade omega 3 for enhanced medication to prevent chronic diseases.

Asia Pacific is expected to expand at the fastest CAGR over the forecast period. Ongoing advancements in the food industry and medical science, coupled with demographic changes and high consumer demand, are expected to provide impetus to the regional market growth throughout the forecast period.

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https://www.grandviewresearch.com/industry-analysis/omega-3-market

Further key findings from the study suggest:

In terms of application, supplements and functional foods emerged as the largest segment in 2019, generating a revenue of USD 1.30 billion. The segment is expected to witness significant growth over the forecast period
Asia Pacific is expected to witness the fastest growth over the forecast period. The growth of the region is led by economies, including India, China, and Japan. The region has also been witnessing uniform and sustained growth across all the application segments
The market is characterized by intense competition due to presence of a sizable number of international and domestic players. Key players are adopting strategic initiatives, such as mergers & acquisitions and product innovation, in order to withstand competition in the market
Key omega 3 market participants include Aker BioMarine, Axellus, BASF SE, DSM, Omega Protein Corporation, GC Reiber Oils, Martek Biosciences Corporation, and Lonza.

Collagen Market Size Worth $7.5 Billion By 2027

The global collagen market size is expected to reach USD 7.5 billion by 2027, expanding at a revenue-based CAGR of 6.4%, according to a new report by Grand View Research, Inc. The growth in the market can be attributed to high demand for collagen in cosmetic surgeries and wound healing treatments. Increasing consumer spending capacities coupled with the popularity of skin surgeries has propelled product demand across the world.

Bovine, porcine, poultry, and marine are the four main sources required for manufacturing collagen. Collagen from bovine source accounts for a substantial share of 35% as of 2019, as opposed to other sources, on account of the abundance of bovine sources and relatively lower price as compared to marine and porcine sources. Marine is superior to that of bovine or porcine sources, owing to its high absorption rate and bioavailability. However, the product obtained from marine costs relatively higher than from bovine and porcine, which is expected to restrain the growth of the segment.

The gelatin segment dominated the market in 2019 owing to the substantial demand for the product as a food stabilizer. The growth of fishing industry in India and China has attracted gelatin manufacturers in the Asia Pacific to use fish as a raw material for gelatin production. The market for hydrolyzed collagen is also anticipated to register the fastest growth over the forecast period, backed by its increasing use in the healthcare sector for tissue repair and dental applications. Increasing efforts by the companies for using hydrolyzed collagen in the treatment of bone related disorders, such as osteoarthritis have favored the growth of the segment.

The key applications for the product include food and beverages, healthcare, and cosmetics. Healthcare emerged as the largest application segment of the industry in 2019 and is forecasted to retain its dominant position over the forecast period. The food and beverage industry is expected to be a major contributor to the demand for gelatin and hydrolyzed collagen, as the product is an essential protein for the human body and has multiple nutritional, skin, and health benefits.

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https://www.grandviewresearch.com/industry-analysis/collagen-market

Further key findings from the report suggest:

The collagen market size is anticipated to reach USD 7.5 billion by 2027, at a revenue-based CAGR of 6.4% from 2020 to 2027
In terms of revenue, the marine source segment is projected to ascend at a CAGR of 7.3% over the forecast period
In terms of volume, cosmetic surgery and wound healing emerged as the largest healthcare application segment in 2019, owing to its ability to treat chronic wounds as they inhibit the action of metalloproteinase
Asia Pacific is projected to witness a remarkable growth rate of 6.6% in terms of volume, in the near future, owing to the increasing consumption of healthcare and cosmetic products in the region
Some of the key players operating in the industry include Koninklijke DSM N.V.; Collagen Matrix; CONNOILS LLC; Rousselot BV; and Advanced BioMatrix, Inc.

Enzymes Market Size Worth $17.2 Billion By 2027

The global enzymes market size is expected to reach USD 17.2 billion by 2027, registering a CAGR of 7.1% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for enzymes from the food and beverage industry, especially for the production of brewing and bakery products is one of the key factors driving the market growth.

Food and beverage industry includes several applications such as baking, brewing, dairy, and starch and sugar, which find extensive use in daily human life. In the baking industry, these are used to provide specific properties to the flour or dough. In biscuits and crackers, the use of enzymes helps lower the protein content of flour while their use in bread improves or standardizes the quality and ensures uniform browning of the product. The product is extensively used in the food and beverage industry to improve the quality and productivity of products, which is anticipated to fuel the market growth.

Enzymes are also used as feed additives in the animal feed industry. Phytase, protease, and carbohydrase are used extensively in the animal feed industry. Phytase is an abundant source of phosphorus and a key ingredient required for the growth and repair of tissues and organs of animals. Carbohydrase is utilized for improving the digestion of carbohydrates present in the feed. They further breakdown starch into simple sugars such as fructose, maltose, and glucose. Increasing demand for the product in the animal feed industry due to their multi-functional attributes is anticipated to boost the market growth.

Enzymes used in industrial applications were traditionally extracted from animal organs such as calf stomach, plant materials, and microorganisms (bacteria, yeast, and fungi). With the emergence of technologies such as genetic engineering, manufacturers have a choice of producing required quantity of enzymes in selected production hosts such as microorganisms and transgenic plants. Market participants are focusing on backward integration by using suitable microorganisms such as bacteria, yeast, and fungi and further use those for the production on a commercial scale.

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https://www.grandviewresearch.com/industry-analysis/enzymes-industry

Further key findings from the report suggest:

In terms of revenue, the carbohydrase product segment is projected to dominate the market while expanding at a CAGR of 7.4% over the forecast period
The microorganisms source segment held the largest share of the market in terms of revenue and is anticipated to dominate the enzymes market in the forecast period
Asia Pacific is projected to witness a remarkable growth rate of 8.1% in the near future, owing to increasing consumption of food and beverage products, detergents, and animal feed in the region
The market is oligopolistic owing to the presence of three key players including Novozymes, DuPont Danisco, and BASF dominating the market
Some of the key companies present in the industry are BASF SE, Novozymes, DuPont Danisco, DSM, Associated British Foods plc, Chr. Hansen Holding A/S, and Advanced Enzyme Technologies

Solar Tracker Market Demand To Reach 172.0 GW By 2025

The global solar tracker market demand is expected to reach 172.0 GW by 2025, expanding at a volume-based CAGR of 32.0%, according to a new report by Grand View Research, Inc. Solar tracker is installed on a photovoltaic (PV) system to get an increased energy output during the day. The PV system helps to minimize the angle of incidence between incoming light and panel, thereby increasing the amount of energy produced.

The single axis segment is predicted to have the highest growth over the forecast years and is projected to witness a revenue-based CAGR of 30.6% from 2019 to 2025. Single axis tracker is economical than dual axis tracker and easy to maintain. The market is expected to witness substantial growth over the forecast period owing to growing need for renewable power generation, especially in the single axis segment.

The dual axis segment accounted for lower market share in terms of volume and is projected to exhibit lower CAGR during the forecast period. Dual-axis solar trackers comprise two degrees of freedom that act as axis of rotation. The axis fixed to the ground is considered as the primary axis and the one referenced to the primary axis is called the secondary axis.

Dual axis trackers have modules that are oriented parallel to the secondary axis of rotation. They allow maximum absorption of the sun’s rays on account of their ability to follow the sun both horizontally and vertically, thus generating 8% to 10% more energy than single axis trackers.

In terms of technology, the PV segment is anticipated to hold majority share in the market over the forecast period. The simplicity of its design along with the cost-effectiveness make them ideally suitable for most PV applications at utility level.

Additionally, trackers installed on PV modules occupy less space as compared to the concentrated photovoltaic (CPV) and concentrated solar power (CSP) technologies. The PV technology does not require any additional lenses, mirrors or sterling energy to generate electricity, thereby making them suitable for use in non-utility applications.

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https://www.grandviewresearch.com/industry-analysis/solar-tracker-industry

Further key findings from the report suggest:

The solar tracker market is estimated to witness a volume-based CAGR of 32.0% from 2019 to 2025. Solar tracker helps in increasing the efficiency of the cell. Increasing solar PV demand in various regions is expected to propel the growth of the market over the projected period
Solar PV emerged as a leading technology segment accounting for a revenue share of close to 91.0% in 2018. Increasing government focus on renewable energy has resulted in the development of PV cells as a sustainable and continuous source of energy generation
The single axis segment leading product segment covering more than 64.0% of the market volume in 2018 and is projected to grow at highest CAGR during the forecast period. Single axis trackers are less expensive as compared to dual axis trackers and, therefore, are widely employed in utility and non-utility application
The utility application segment is expected to account for more than 87.0 % of the market volume in 2025 and is projected to grow at highest CAGR during the forecast period. Trackers are being used on a large-scale in utility applications in light of increasing government subsides coupled with feed-in tariff schemes particularly in North American and European region
North America accounted for the largest market share of more than 30.0% volume share in 2018 owing to favorable policies and incentives for solar PV installation in the country. However, Middle East and Africa market is projected to exhibit the highest CAGR during the forecast period on account of rise in investments for renewable energy sources in the region
Major companies actively operating in the solar tracker market in the present scenario include NEXTracker Inc.; PV Hardware; Soltec; First Solar Inc.; and Array Technologies Inc. These companies are adopting various organic as well as inorganic growth strategies to augment their market share.

Oleochemicals Market Worth $31.4 Billion By 2027

The global oleochemicals market size is anticipated to reach USD 31.4 billion by 2027 registering a CAGR of 5.8%, according to a new report by Grand View Research, Inc. Oleochemicals are the products derived from fats and oils. They can be produced from natural sources, such as plant oils and animal fats, as well as fossil fuel sources, such as petrochemicals.

Rising crude oil prices have resulted in a significant shift toward the utilization of vegetable oils, such as palm and palm kernel oil, as a primary feedstock for oleochemical production. In 2016, around 8% of the total palm oil volume and 70% of the total palm kernel oil volume were consumed for the production of oleochemicals. Easy availability of raw materials and minor toxicity levels and green image of the products are some of the key factors driving the market growth.

Some of the significant oleochemical products include glycerol, fatty alcohols, fatty acid methyl esters, and fatty acids. These basic oleochemicals are used to produce intermediate chemicals, such as sugar esters, structured triacylglycerol (TAG), diacylglycerol (DAG), monoacylglycerol (MAG), quaternary ammonium salts, alcohol ether sulfates, alcohol sulfates, and alcohol ethoxylates.

Fatty acids represent one of the largest product applications as they are widely used in numerous industries including pharmaceutical, food, lubricants, and paints & coatings. Major chemical manufacturers have increased their expenditure on sustainable development in line with responsible care initiatives. This includes the removal of hazardous chemicals, which encouraged a shift in trend towards renewable and biodegradable products.

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https://www.grandviewresearch.com/industry-analysis/oleochemicals-industry

Further key findings from the report suggest:

Glycerol is estimated to be the fastest-growing product segment due to increasing demand for technical-grade refined glycerin in the manufacturing of metalworking fluids, adhesives & sealants, polyols, agrochemicals, oilfield chemicals, and solvents
In 2019, Linoleic (C18:2) acid emerged as the largest fatty acid product segment, both in terms of volume and revenue owing to the high product demand in the production of dietary supplements, paints & varnishes, food flavoring agents, and surfactants
Soaps & detergents is projected to be the leading application segment, both in terms of volume and revenue
The growth in this segment can be attributed to increasing product demand from industrial & institutional cleaning and textile sectors

Electrostatic Precipitator Market Size Worth $14.97 Billion by 2025

The global electrostatic precipitator market size is projected to be valued at USD 14.97 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 3.3% over the forecast period. Rising consumer awareness, inclination towards healthy lifestyle, and rise in air pollution are expected to drive the market growth.

Rising adoption of air pollution control equipment, coupled with stringent government regulations, is expected to boost the global electrostatic precipitator market by 2025. Industrialization of energy and manufacturing industries is predicted to further enhance business growth over the forecast period.

Increasing investments and technological advancements are expected to encourage expansion of the market for electrostatic precipitator in the forthcoming years. Critical air pollution level caused by vehicles and industries coupled with high demand for pollution controlling equipment in developing countries such as India and China are anticipated to spur market growth over the forecast period.

The power generation segment is expected to expand at a CAGR of 4.2% over the forecast period. High dependency on electricity in automotive backed up with industrial automation is expected to boosts demand for power generation application in near future. Power generation industry has witnessed drastic change in processes as majority of the industrial players opted for renewable energy sources such as wind, natural gas, solar etc.

In terms of technology, the dry type electrostatic precipitator was valued at USD 9.66 billion in 2017 and is predicted to witness robust growth over the forecast period. High adoption coupled with government policies and regulations is projected to encourage market growth over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/electrostatic-precipitator-market

Further key findings from the report suggest:

The U.S. electrostatic precipitator market revenue is projected to expand at a 2.2% CAGR over the forecast period owing to stringent governmental policies along with rise in demand for air pollution control equipment
U.K., in terms of revenue, is projected to register a 1.8% CAGR over the forecast period
Growth in the India market can be attributed to rapid pace of industrialization, rising air pollution levels, and evolving regulatory framework.

Wet Shave Market Size Worth $21 Billion By 2025

The global wet shave market size is anticipated to reach USD 21 billion by 2025, exhibiting a CAGR of 9.5% over the forecast period, according to a new report by Grand View Research, Inc. Growing awareness regarding personal grooming and increasing spending on personal care products are some of the major factors that are projected to augment the growth of the market. Moreover, the introduction of several innovative wet shave products, as well as rising number of people becoming a part of the corporate culture, are the factors contributing toward the market growth.

Several manufacturers are adopting strategies such as new product developments and mergers & acquisitions to increase their market penetration as well as gain a competitive advantage. For instance, in May 2019, Edgewell Personal Care Company announced its plans to acquire Harry’s, Inc., a U.S.-based manufacturer of wet shave products. Moreover, awareness campaigns undertaken by manufacturers through social media, advertisements, and YouTube channels are likely to augment the demand for wet shaving products.

Razor cartridges product segment was worth USD 2,569.2 million in 2018. Razor cartridge is the detachable part used in cartridge razors. Different types of razor cartridges having lubricating strips that contain menthol, coconut oil, or herbal oil extracts have been introduced to offer smooth shaving experience. The non-disposable razors segment is expected to grow at an estimated CAGR of 9.8% over the forecast period. Non-disposable razors or reusable razors include safety razors, straight razors, and cartridge razors.

In terms of distribution channel, the market has been segmented into hypermarkets, supermarkets, independent retailers, and others. Independent retailers is anticipated to be the fastest-growing distribution channel segment and likely to register a CAGR of 10.8% over the forecast period. E-commerce also plays an important role in the distribution of wet shave products. Wet shave products are sold through several e-commerce websites, manufacturer operated online portals, and online portals operated by numerous retailers.

Increasing investments by major retail companies, especially in emerging countries, are expected to open new opportunities for wet shave manufacturers to distribute and sell their products. In November 2018, Gillette introduced the Gillette SkinGuard Sensitive razor, a clinically proven razor designed especially for men having sensitive skin. In January 2018, Schick, a brand by Edgewell Personal Care Company, launched Schick Intuition f.a.b., a razor with five bi-directional blades specially designed for women.

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https://www.grandviewresearch.com/industry-analysis/wet-shave-market

Further key findings from the report suggest:

Asia Pacific is projected to emerge as the fastest-growing regional market for wet shave products over the forecast period with growing population in the region, especially in developing countries such as China and India
Male gender segment dominated the global wet shave market with a revenue share of 71.8% in 2018 as men frequently practice wet shaving for the removal of facial hair
Blades product segment is expected to register the highest growth rate of 10.2%, in terms of revenue, as blades are widely used as consumables in safety and straight razors and are generally meant for single use
Hypermarkets emerged as the largest distribution channel segment and accounted for 38.2% of the total market share in 2018
Key market players include Procter & Gamble, Edgewell Personal Care Company, Unilever PLC, Beiersdorf AG, Johnson & Johnson, Godrej Consumer Products Limited, and Raymond Limited, among others. Other prominent players include Edwin Jagger Limited, Taylor of Old Bond Street, Ludovico Martelli s.r.l., and D.R. Harris & Co. Ltd.

Port Wine Market Size Worth $825.68 million By 2025

The global port wine market size is estimated reach USD 825.68 million by 2025 expanding at a CAGR of 4.0%, according to a new report by Grand View Research, Inc. Increased consumption of alcohol, awareness about the health benefits of port wine, and rising disposable income are among the prominent factors propelling the product demand. Red wine is the most preferred by consumers. It accounts for more than 60% of the global market share.

Increasing awareness about the health benefits of red wine, such as reduced risk of heart disease, is the key factor responsible for the segment’s largest share in the market. The red wine is prepared from the grape skin and thus is rich in organic compounds and has tannins and resveratrol, which are good for health. Therefore, red wine is the dominant segment and will witness a significant growth over the years to come.

Among the different types of port wines, ruby wine is the most preferred due to its low price and easy availability. This type of wine is aged for 2 or less years thus, costs less. Tawny wine is witnessing the fastest growth as young consumers prefer quality over quantity with the factor of cost-effectiveness. The vintage wines are very rare and are aged for 10 to 40 years and are very costly.

The manufacturers conduct auctions for increasing sales and awareness about the vintage wines. The online distribution channel is expected to grow at the faster rate over the forecast period. Increasing usage of internet, hassle-free transactions, and faster delivery are the prominent factors responsible for the segment growth. Consumers in non-metro cities are also using the online platform, thus fuelling the growth of online distribution channel.

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https://www.grandviewresearch.com/industry-analysis/port-wine-market

Further key finding from the report suggests:

Red wine type led the global port wine market due to its health benefits and taste
The maximum revenue was generated from Europe due to tradition as well as higher consumption. Moreover, most of the key product manufacturers are based in Europe
Ruby port wine is likely to lead the market in the forecasted period due to its low price and easy availability
However, the tawny segment will witness the fastest growth from 2019 to 2025 due to increasing income levels

Arachidonic Acid Market Worth $281.0 Million By 2025

The global arachidonic acid market size is expected to reach USD 281.0 million by 2025 expanding at a CAGR of 5.8%, according to a new report by Grand View Research, Inc. increasing product usage in baby food and health supplements is anticipated to drive the market growth. The infant formula segment is expected to witness a significant growth on account of increasing product usage in baby nutrition products. The need for appropriate amount of minerals, such as ARA and DHA, is creating more demand for ARA-based infant formula, which is likely to boost the segment growth over the coming years.

Moreover, increasing awareness regarding product benefits, as a result of various marketing activities undertaken by major companies, is likely to have a positive impact on the market growth. Increasing cases of ARA deficiency necessitates the need of a separate intake in the form of tablets, syrups, or injections. Rising awareness levels regarding the importance of maintaining the nutritive value are also likely to contribute to the global market growth.

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https://www.grandviewresearch.com/industry-analysis/arachidonic-acid-ara-market

Further key findings from the study suggest:

The global market is anticipated to reach 4.26 kilotons by 2025 expanding at a CAGR of 4.7% from 2018 to 2025
In terms of revenue, solvent form segment is projected to register a CAGR of 5.6% over the forecast period
The infant formula application segment led the global Arachidonic Acid (ARA) market in 2017
Europe regional market is projected to witness a remarkable growth over the estimated period due to the rising health consciousness and awareness about ARA-based products
Some of the key companies in the market are Cargill, Inc.; CABIO Biotech (Wuhan) Co. Ltd.; Cayman Chemical Company; Guangdong Runke Bioengineering Co. Ltd.; Koninklijke DSM N.V.; The Merck Group; and A & Z Food Additives Co. Ltd.