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 for gelatin is expanding quickly. This growth is driven by a rising interest in functional foods and beverages, along with an increased use of gelatin in pharmaceuticals. The demand for clean-label products and the incorporation of gelatin in cosmetics are also contributing to market growth. Gelatin is a popular food stabilizer due to its excellent gelling, stabilizing, and foaming properties, making it a common ingredient in foods like pasta, yogurts, jams, and jellies.
During the pandemic, more people started cooking and baking at home, which led to a higher demand for gelatin. In response to consumer needs, companies are developing new products. For instance, in August 2020, PB Leiner launched Textura Tempo Ready, a new type of gelatin with unique properties. This clean-label product contains no additives, is made entirely of gelatin, and reduces preparation time by 50% compared to traditional leaf gelatin.
This information is provided by Fortune Business Insights, in its report titled, “Gelatin Market, 2024-2032.”
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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)
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
Gelatin is used in various industries, including food and beverages, healthcare and pharmaceuticals, cosmetics, and more. The food and beverage industry is the largest user because gelatin is widely used in making snacks, candies, gummy bears, desserts, and other products.
Geographically, the market is divided into several regions: North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage
The report offers a thorough analysis of the market, breaking it down into different segments and providing an overall view. It examines current trends and future opportunities, and looks at regional developments and their impact on market growth. It also discusses the effects of COVID-19 to help investors and business owners understand potential risks. Additionally, the report reviews major companies and their key strategies for staying competitive.
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 gelatin in the pharmaceutical industry is growing due to several factors: more people are dealing with chronic and lifestyle-related disorders, there's an increasing elderly population, and more people are becoming health-conscious. The market is also expanding because of a greater focus on healthcare and rising healthcare costs. Additionally, gelatin is popular for its benefits, such as aiding in weight loss and helping treat 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 companies are using clever strategies to promote their products and strengthen their market positions. One effective tactic is partnering with other companies to launch new products and expand their customer base.
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.