The bovine gelatin market is rapidly expanding due to its wide range of applications in various industries like pharmaceuticals, food and beverages, nutraceuticals, cosmetics, and photography. Bovine gelatin is a colorless, semi-transparent, brittle, and flavorless substance extracted from collagen obtained from animal parts like skin, bones, and connective tissues.
It is a good source of proteins and amino acids that provide various health benefits. Bovine gelatin has high viscosity and excellent gelling properties which makes it suitable for use as a thickening, stabilizing, and strengthening agent. It is widely used as a binding and coating agent in medicines, supplement capsules, confectioneries, yogurts, processed meat products, and cosmetics among others.
The global bovine gelatin market is estimated to be valued at US$ 2.23 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the bovine gelatin market are Nitta Gelatin, Inc., Lapi Gelatin S.p.A., Jellice Pioneer Europe B.V., Darling Ingredients Inc., Gelita AG, Merck KGaA, Lonza Group, Bernard Jansen Products Inc., Luoyang Leston Import and Export Trade Co., Ltd., Nutra Food Ingredients, LLC, Lapi Gelatine, Foodchem International Corporation, Foodmate Co., Ltd., YASIN Gelatine, Vizag chemical, Vikranth Chemical Corporation.
The growing demand for convenience food and ready-to-eat products is fueling the Bovine Gelatin Market Growth significantly. Bovine gelatin acts as an effective texturizer, stabilizer and binder in various processed food products.
Key players in the bovine gelatin market are focusing on expanding their production capacities and geographical presence to leverage the lucrative opportunities in emerging economies through collaborations and partnerships with local bovine gelatin manufacturers.
Market Key Trends
The shift towards clean label products is Bovine Gelatin Market Size And Trends bovine skin instead of bones is considered cleaner and safer as it requires less chemical processing during manufacturing. Several brands are opting for bone-based gelatin to attract health-conscious consumers looking for products with simple and recognizable ingredients. This change in preference is expected to positively influence the bovine gelatin market revenue over the forecast period.
Porter’s Analysis
Threat of new entrants: High capital requirements and need for large scale production to compete in the established bovine gelatin market make threat of new entrants low.
Bargaining power of buyers: Large global buyers can negotiate lower prices from suppliers due to their significant purchasing power and market dominance.
Bargaining power of suppliers: The presence of many raw material suppliers and the commodity nature of products means suppliers have low bargaining power.
Threat of new substitutes: Alternatives like other animal-based gelatins pose high threat of substitution to bovine gelatin due to similar properties.
Competitive rivalry: Presence of many large players and low switching costs make the competitive rivalry in the bovine gelatin market high.
Geographical Regions
North America dominates the global bovine gelatin market in terms of value owing to growing demand from pharmaceuticals and food industries. The US is the leading consumer of bovine gelatin in North America.
Asia Pacific is projected to be the fastest growing regional market during the forecast period due to rapid economic growth, rising health awareness, and increasing meat consumption in developing countries such as China and India. Growing food processing and pharmaceutical industries are fueling bovine gelatin demand in Asia Pacific.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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