Gelatin Market Size is Expected to Grow $5.1 billion by 2028 – Exclusive Report by MarketsandMarkets™

Chicago, April 24, 2023 (GLOBE NEWSWIRE) — The global gelatin market size was valued at USD 3.7 billion by 2023. The gelatin industry is estimated to expand USD 5.1 billion by 2028, exhibiting a CAGR of 6.6% over the projected period. The wider application scope, multiple functionalities, and clean-label claim are eventually driving the global gelatin market growth. MarketsandMarkets™ provides this information in its research report, titled “Gelatin Market Global Forecast, 2023-2028”.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=850

Key Industry Development:

Consumers are increasingly demanding clean label food products that are free from artificial ingredients. Gelatin, being a natural ingredient, is gaining popularity as a clean label alternative to synthetic stabilizers and thickeners.

Report Scope & Segmentation:

Key Takeaways:

• Gelatin market is estimated to expand USD 5.1 billion by 2028.
• With rising health consciousness among consumers and demand for “free-from” food products, the gelatin market is expected to rise.
• Due to its high protein content, there has also been an increasing demand for gelatin from the nutraceutical and sports nutrition segments.
• Europe region is witnessing the highest growth rate in the gelatin market.
• The market is highly competitive, with numerous players operating in the industry. Key players include Darling Ingredients, Tessenderlo Group, Nitta Gelatin, Weishardt, Lapi Gelatine Spa etc.

Drivers and Restraints:

Growing demand for functional and convenience food and beverages

There is an increasing demand for convenience food and beverages due to changing lifestyles, an increasing working population, and consumers lack the time and effort required to prepare home-cooked food and are more inclined toward convenience food products, which, in general, are highly processed and lack essential nutrients. To counter these concerns, consumers increasingly prefer functional and fortified food & beverage products. Functional foods act as the perfect means for supplying essential micronutrients to the human body. With the growing consumer awareness of food fortification and the rising demand for fortified food products, the demand for gelatin is growing at a higher rate. Gelatin is majorly used in almost all food products as a functional ingredient.

Demand for confectionery products such as candies, chocolate bars, chewing gums, and jellies is also rising. The demand for confectionery food is driven due to the rise in income levels, economic growth, and demand for convenience foods. According to the USDA, in 2022, the US will be the leading exporter of confectionery products. Canada, Mexico, and the European Union are the major exporting markets for confectionery products for the US.

Cultural restrictions

Gelatin has varied applications in the food, pharmaceutical, and nutraceutical industries. It is used as a functional ingredient in food, to manufacture hard and soft capsules, and as a protein supplement. However, gelatin is an animal by-product formed from the collagen of slaughtered animals, including the bones, hides, and hooves of cattle, pigs, fish, and poultry. Individuals with religious or dietary restrictions that forbid the consumption of animal products are not willing to consume those products that use gelatin.

For instance, pork and pork-derived products are strictly forbidden in Middle Eastern and Muslim communities. Instead, instead prefer to consume halal-certified bovine-derived products. Therefore, the market for gelatin manufactured by pork skin is negligible in these regions. Similarly, In India, the consumption of cattle-derived products is culturally forbidden; the Hindu community does not generally consume beef and beef-derived products. Hence, in this country, pork-based gelatin is mostly consumed. Similarly, the Jewish population looks for kosher-certified products. Kosher guidelines also inhibit the consumption of pigs and pig-derived products. These cultural and regional outlooks can sometimes pose a restraint to the growth of the gelatin market.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=850

Segments:

The animal source segment is expected to account for the largest share.

The animal source segment is anticipated to dominate the gelatin market in 2023. Gelatin is obtained through partial hydrolysis of collagen extracted from connective tissues, skin, tendons, and bones of various animal sources such as marine, including fish and squid, mammalian, poultry, and insects. It is widely used in food, health & nutrition, pharmaceutical, cosmetics & personal care, and other industries. Commercial production of gelatin is majorly from bovine and porcine bones and hides. Marine-sourced gelatin (fish) is produced and applied on a small scale. For instance, 41% of the global gelatin production is sourced from pig skin, 28.5% from bovine hides, and 29.5% from bovine bones.

The pharmaceuticals segment is projected to grow at the fastest rate among all the other applications in the gelatin market.

The pharmaceutical segment is considered to be the fastest-growing segment due to an increase in the use of gelatin in medicines, hard and soft capsules, tablet coating, granulation, surgical sponges, tableting, microencapsulation, and encapsulation. It is also used in plastic surgery, wound care, orthopedics, dentistry, and cardiovascular practices. Increasing instances of health and medical issues are mainly responsible for the overall growth in the usage of gelatin in medical applications.

Regional Insights:

North America is currently the largest market for gelatin, driven by the increasing demand for clean label and natural food ingredients, functional foods, and collagen-based products. The region has a high consumption of gelatin due to its widespread use in the food and beverage industry as a stabilizer and thickener. The region is also witnessing a growing demand for dietary supplements and nutraceuticals, which is driving the growth of the gelatin market.

Europe is another significant market for gelatin, with countries such as Germany, France, and the UK being the major contributors. The region’s growth is driven by the increasing demand for functional and fortified foods, clean label products, and collagen-based products. The regulatory framework in Europe is also favorable for the use of gelatin in food and beverage products, which is boosting the growth of the market in the region.

Asia-Pacific is a rapidly growing market for gelatin, driven by the increasing demand for dietary supplements, functional foods, and pharmaceuticals. Countries such as China and India are witnessing a significant increase in the consumption of gelatin due to their large population and growing middle-class population with rising disposable incomes.

Latin America and the Middle East and Africa are also emerging markets for gelatin, driven by the increasing demand for functional and fortified foods, dietary supplements, and pharmaceuticals.

Overall, the gelatin market is expected to witness strong growth in all regions, driven by the increasing demand for clean label and natural food ingredients, functional foods, and collagen-based products.

List of Key Players Mentioned in the Report:

• Darling Ingredients (US)
• Tessenderlo Group (Belgium)
• Nitta Gelatin, Inc. (Japan)
• Gelita AG (Germany)
• Weishardt (France)
• Lapi Gelatine Spa (Italy)
• India Gelatine & Chemicals Ltd. (India)
• Trobas Gelatine B.V. (Netherlands)
• Sterling (India)
• Roxlor (US)
• Suheung (South Korea)
• Ewald Gelatin GmbH (Germany)

Request Custom Data to Address your Specific Business Needs: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=850

Frequently Asked Questions (FAQs):

How big is the gelatin market?

The gelatin market size was USD 3.7 billion by 2023. It is expected to reach USD 5.1 billion by 2028.

How fast is the gelatin market growing?

The gelatin market will exhibit a CAGR of 6.6% during the forecast period, 2023-2028.

Browse Adjacent Reports @ Food and Beverage Market Research Reports & Consulting

Related Reports:

Collagen Market

Marine Collagen Market