Pune, India, Dec. 05, 2022 (GLOBE NEWSWIRE) -- The global gelatin market size was valued at USD 2.65 billion in 2021. The market is projected to grow from USD 2.86 billion in 2022 to USD 4.42 billion by 2029, exhibiting a CAGR of 6.43% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Gelatin Market, 2022-2029.”
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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)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 6.43 % |
| 2029 Value Projection | USD 4.42 Billion |
| Base Year | 2021 |
| Gelatin Market Size in 2021 | USD 2.65 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 240 |
| Segments Covered | By Type, By Source, By Application |
| Gelatin Market Growth Drivers | Increasing Application of Gelatin in Healthcare and Pharmaceuticals Sectors to Drive Market Growth |
| Rising Demand for Clean Label Products to Propel Market Growth |
COVID-19 Impact
Supply Chain Challenge in the Wake of Pandemic's Negative Effects on Market Growth
Due to the rapid fall in product demand and sales brought on by the global COVID-19 pandemic, disruptions of trade activities caused by the closing of domestic and foreign borders hampered the expansion of the sector. The shutdown of slaughterhouses and the blocking of international and domestic borders made it difficult to transport cattle, which were the main causes of this decline in beef export. However, due to the escalating demand from the pharmaceutical industry, the need for hard and softgel capsules increased throughout the pandemic.
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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.
Driving Factors
Expanding Use of Gelatin in Healthcare and Pharmaceutical Industries Will Fuel Market Expansion
The rise in chronic and lifestyle-related disorders, the growing elderly population, and the rise in health consciousness have all contributed to the increase in usage of product in the pharmaceutical business. The market is expanding as a result of increased attention being paid to healthcare due to rising healthcare costs. Additionally, using the product is frequently linked to weight loss and the treatment of brittle bones, rheumatoid arthritis, and osteoarthritis.
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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
Prominent players in the market are constantly opting for effective strategies to promote their products and establish their positions in the market. One such strategy is to launch new products by partnering with other companies to extend 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.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
-
- 4.1.1 Analysis on Gelatin Manufacturing Cost Structure
- Global Gelatin Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Source
- Porcine
- Bovine
- Others
- By Application
- Food & Beverages
- Healthcare & Pharmaceuticals
- Cosmetics
- Others
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Source
- North America Gelatin Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Source
- Porcine
- Bovine
- Others
- By Application
- Food & Beverages
- Healthcare & Pharmaceuticals
- Cosmetics
- Others
- By Country (Value)
- U.S.
- By Source
- Porcine
- Bovine
- Others
- By Source
- Canada
- By Source
- Porcine
- Bovine
- Others
- By Source
- Mexico
- By Source
- Porcine
- Bovine
- Others
- By Source
- U.S.
- By Source
-
- Supply Chain Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities to Support the Sales during the Calamity
TOC Continued…!
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