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)
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 gives an in-depth look at different parts of the market and an overall view of the market. It thoroughly evaluates current trends and future opportunities. It also analyzes regional developments and their impact on market growth. The effects of COVID-19 are discussed to help investors and business owners understand potential risks. Additionally, the report examines key companies and their main strategies for staying ahead in the market.
Source: https://www.fortunebusinessinsights.com/gelatin-market-107012
Driving Factors
Expanding Use of Gelatin in Healthcare and Pharmaceutical Industries Will Fuel Market Expansion
The rising use of this product in the pharmaceutical industry is due to the increase in chronic and lifestyle-related disorders, a growing elderly population, and greater health consciousness. The market is also expanding because of a stronger focus on healthcare and increasing healthcare costs. Additionally, the product is known for its benefits, such as aiding in 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
Leading market players are continually adopting effective strategies to promote their products and strengthen their market positions. One such strategy involves launching new products through partnerships with other companies to expand their reach to end-users.
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)