Gelatin Market
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). Europe dominated the Gelatin Market with a market share of 41.04% in 2023.
The gelatin market is growing fast, mainly because more people are interested in functional foods and drinks, and because gelatin is used more in medicines and cosmetics. People also want products with clear labels and gelatin is used in things like pasta, yogurt, and cosmetics. Gelatin is a popular ingredient in food because it helps keep food stable, gives it a good texture, and helps it foam.
During the pandemic, more people were cooking and baking at home, which made the demand for gelatin go up. To meet this demand, companies are creating new products. For example, PB Leiner introduced Textura Tempo Ready in August 2020. This new gelatin is clean, doesn't have any extra ingredients, is made from gelatin only, and it's easier to use than regular gelatin.
This information comes from Fortune Business Insights in their report, “Gelatin Market, 2024-2032.”
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 a versatile ingredient in many sectors like food, healthcare, cosmetics, and more. It's most commonly found in snacks, candies, and desserts due to its use in the food industry. The market is spread across five major regions: North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage
The report provides a detailed analysis of the market, dividing it into various segments and offering a comprehensive overview. It explores current trends and future prospects, as well as regional changes and their influence on market expansion. It also discusses COVID-19's impact on potential risks for investors and business owners. Furthermore, the report evaluates major companies and their strategies for maintaining competitiveness.
Source: https://www.fortunebusinessinsights.com/gelatin-market-107012
Driving Factors
Expanding Use of Gelatin in Healthcare and Pharmaceutical Industries Will Fuel Market Expansion
Gelatin is becoming more important in medicine because more people have long-term health issues, there are more older people, and more individuals care about their health. The market is growing because of better attention to health and higher medical expenses. Gelatin is also liked for its advantages, like supporting weight loss and treating diseases like weak 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 smartly working to advertise their products and boost their market standing. A successful approach is teaming up with other businesses to introduce new items and grow their customer base.
Key Industry Development
December 2023: Darling Ingredients Inc., a leading gelatin manufacturer, obtained a patent for its specialized gelatin StabiCaps. This formulation helps improve the stability of soft gel capsules and can be used to produce a wide range of pharmaceuticals.
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.
Gelatin Market
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