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.
Source – Segment Analysis
Based on the source, the crustaceans segment holds the largest share of more than 35% in the chitin fertilizer market in 2019. Chitin is obtained from the waste product of crabs, lobsters, and shrimps. An increase in demand for shellfish from the food industry results in the easy availability of exoskeletons of crustaceans for processing of chitin rather than extraction from insects or fungal cell walls. Chitin acts as a potential fertilizer due to its high nitrogen concentration. Whereas, Chitosan is a derivative of chitin which is derived from the deacetylation of chitin induces defense reaction in plants thereby increasing their response against pathogen attacks.
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Type – Segment Analysis
Based on type, the alpha chitin segment holds the largest share of more than 40% in the chitin fertilizer market in 2019. Alpha chitin is abundant in exoskeletons of shellfish and fungi cell walls. Each form of chitin has different orientations of microfibrils. Alpha chitin has an antiparallel chain whereas beta chitin has a parallel microfibrils chain. Chitin and its derivative are attracting great interest because of their wide range of potential applications in agriculture, water treatment, biotechnology, and pharmaceuticals.
The outbreak of novel coronavirus (COVID-19) has badly impacted the fertilizer market. Industries are being shuttered around the world resulting in the downfall and crisis of the economy. The decline in import or export activities of shellfish has hampered the growth of chitin fertilizer market. National President of Seafood Exporters Association of India, said that the consignments to China have dropped by 10 to 15% because of congestion in several ports, substantially affecting the chitin fertilizer market.
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.
Geography- Segment Analysis
APAC dominated the chitin fertilizer market with a share of more than 35%, followed by North America and Europe. Increasing awareness about the adverse effect of chemical-based synthetic fertilizer has resulted in huge growth of the chitin fertilizer market across APAC region. According to the International Federation of Organic Agriculture Movements (IFOAM), organic farmland has grown in many countries and the total organic area reached 70 million hectares, managed by 2.9 million producers. Moreover, the rise in industrialization and urbanization increases the concern of farmers for decreasing landmass and allows them to use fertilizers which boosts their crops without degrading the ecosystem. Additionally, the efforts of the Indian government for boosting the organic farming methods by creating awareness and launching various programs such as Paramparagat Krishi Vikas Yojana (PKVY), Mission Organic Value Chain Development for North Eastern Region (MOVCDNER) also contributes to the growth of chitin fertilizer in the Indian market.
Drivers – Chitin Fertilizer Market
Rapid growth in Population and decrease in landmass
The need to fulfill the food requirements of the exponentially growing population is driving the growth of chitin fertilizer market. According to the United States Census Bureau, the world population was estimated to be around 7 billion in 2012 and expected to reach 8 billion in 2025. Furthermore, the decrease in farming landmass has led the farmers to adopt fertilizers and new farming technologies for better yielding of crops, substantially contributing to the growth of the chitin fertilizer market. For instance, according to the World Bank report, an agricultural land decreased from 48.911 million square kilometer in 2014 to 48.632 million square kilometer in 2016.
Increase in sustainability and environmental concerns
With the rise in environmental concerns, the world is heading towards organic farming. Due to the harmful effects of synthetic pesticides and fungicides on the environment as well as human health, chitin fertilizer is receiving more attention and became need of the hour. Unlike synthetic fertilizer, chitin fertilizers are biodegradable and do not pollute the soil and underground water which further results in the growth of chitin fertilizer market. Furthermore, the growing use of fish and shellfish based organic chitin fertilizers like Dungeness crab shell and pacific pink shrimp shell fertilizers for various applications line vegetables (tomatoes, lettuce, cucumber), fruits (strawberries, grapes, citrus), and Cash crops (grass, flowers, cannabis) is also contributing to the growth of this market over the forecast period. The chitin fertilizer based on the Dungeness crab shell and pacific pink shrimp shell compound is non-toxic to plants and animals.
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Challenges – Chitin Fertilizer Market
Volatility in prices of raw material
Chitin is a naturally occurring polymer and is found in exoskeletons of shellfish and cell walls of fungi. Poor farming methods and lack of sea animals in nature cause scarcity which in turn increases the price of chitin products. Additionally, China is the largest supplier of shellfish. The conflicts between China and the U.S for the imposition of tariffs have resulted in huge concerns. Due to the imposition of taxes, the prices of raw materials are volatile. Furthermore, the downfall of economy due to the pandemic outbreak of Corona has also impacted the prices owing to the disruption of the supply chain and declining production and demand globally. Interruptions in export or imports, delaying of deals, shuttering of production line, and decrease in demand have also increased the volatility in prices and that leads hampers the growth of chitin fertilizer market.
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.
In April 2019, Shellworks is developing a method to transform chitin into new bio plastic products that are both biodegradable and recyclable. Development aims to reduce plastic pollution by using the waste product of shellfish.
In March 2020, Bioavanta-Bosti, has announced the release of Novochizol. Novochizol nanoparticle aerosol formulation can be used to deliver and confine potential anti- COVID-19 drug to the lungs of ill patients.
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.
A. Nitrogenous Fertilizer Market
B. Fertilizer Additives Market
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