Market Overview
The global gelatin market size was valued at USD 3.07 billion in 2023 and is projected to grow from USD 3.20 billion in 2024 to USD 5.51 billion by 2032, exhibiting a CAGR of 7.03% during the forecast period.(2024-2032)
The global market is growing rapidly because more people want functional foods and drinks, and there's increasing use in pharmaceuticals. The demand for clean-label products and their use in cosmetics are also boosting the market. This product is widely used as a food stabilizer due to its excellent gelling, stabilizing, and foaming properties. It's increasingly used in foods like pasta, yogurts, jams, and jellies. During the pandemic, more people experimenting with cooking and baking led to higher demand for gelatin. Additionally, companies are creating new products to meet consumer needs. For example, in August 2020, PB Leiner introduced Textura Tempo Ready, a new type of gelatin with unique properties. It’s a clean-label product with no additives, made entirely of gelatin, and it cuts preparation time by 50% compared to regular leaf gelatin.
This information is provided by Fortune Business Insights, in its report titled, “Gelatin Market, 2024-2032.”
Segments
Porcine Gelatin to Hold Largest Share Owing to its Higher Nutrient Content
Based on source, the market is segmented by porcine, bovine, and others.
Porcine segment witnessed strong sales performance over other sources since they are less expensive. Besides, the issue of possible fraud and mislabeling has become a concern among consumers.
Growing Use of the Product in Food & Beverages Propels Gelatin Market Growth
The application segment includes food & beverages, healthcare & pharmaceutical, cosmetics, and others. The food and beverage segment holds a larger share owing to the growing usage of the product in food production to prepare snacks, candies, gummy bears, desserts, and other products.
The market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa in terms of geography.
Report Coverage
The report provides a detailed analysis of various segments of the market, along with a comprehensive overview. It carefully examines current trends and potential future opportunities. It also looks at how different regions are developing and how this affects market growth. The impact of COVID-19 is discussed to help investors and business owners understand possible risks. Moreover, the report reviews major companies and their key strategies for maintaining a competitive edge.
Source: https://www.fortunebusinessinsights.com/gelatin-market-107012
Driving Factors
Expanding Use of Gelatin in Healthcare and Pharmaceutical Industries Will Fuel Market Expansion
The use of this product in the pharmaceutical industry is growing because more people are dealing with chronic and lifestyle-related disorders, there's an increasing elderly population, and people are becoming more health-conscious. The market is also expanding due to a greater emphasis on healthcare and rising healthcare costs. Moreover, this product is popular for its benefits, including helping with weight loss and treating conditions like brittle bones, rheumatoid arthritis, and osteoarthritis.
Regional Insights
Europe to Dominate Backed by Increasing Prevalence of Bone-Related Diseases
The largest revenue for gelatin market share, which was valued at USD 1.08 billion in 2021, was contributed by Europe. The expansion of the European market is anticipated to be fueled by the rising prevalence of bone-related illnesses.
Due to the movement in consumer desire from traditional items to more health-oriented products, the food and beverage industry dominates the North American market.
Asia Pacific is anticipated to have the market's fastest growth rate. The region's market is expanding as a result of increased chronic disease occurrences and an aging population.
Competitive Landscape
Partnerships among Companies to Secure their Brand Values in the Global Market
Top companies are constantly using smart strategies to promote their products and boost their market positions. One effective approach they use is partnering with other companies to launch new products and reach more customers.
Key Industry Development
January 2022: According to a report from Darling Ingredients Inc., the Terasaki Institute for Biomedical Innovation (TIBI), a regenerative medicine research Centre with Californian base, has teamed with the company's global brand, Rousselot Health. With this agreement, the businesses are concentrating on developing gelatin-based medicines that will eventually find use in clinical settings.
List of Key Players Covered in the Report
Gelita AG (Germany)
Darling Ingredients Inc. (U.S.)
Nitta Gelatin, Inc. (Japan)
Tessenderlo Group (Belgium)
Weishardt (France)
Trobas Gelatine B.V. (Netherlands)
Lapi Gelatine S.p.a. (Italy)
Juncà Gelatines SL (Spain)
Italgel S.r.l (Italy)
Sterling Biotech Ltd. (India)
Gelnex (Brazil)