The global gelatin market size is projected to grow from USD 2.6 billion in 2018 to USD 3.6 billion by 2023, at a CAGR of 6.6% during the forecast period. The growing demand for functional and convenience food & beverage products, increasing application in the pharmaceutical industry, and the rising demand for clean label products drive the demand for gelatin. The increasing demand for gelatin from the nutraceutical and sports nutrition industrial segment due to its high protein content and increasing applications in the medical and biomedical industries also drive the demand for gelatin.
The wide usage of porcine gelatin in various food & beverage products has influenced the demand for porcine gelatin, globally.
Pork is one of the widely used and most important sources for gelatin manufacturing, worldwide. It is widely used in the food & beverage industry for different application areas such as snacks, bakery & confectionery, and meat products. The demand for porcine gelatin is stimulated by factors such as its wide availability and BSE crisis in the European region. Furthermore, it is widely preferred across regions because of its manufacturing process as it requires a short period for pretreatment and generates lesser wastewater as compared to other sources.
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Bovine skin is projected to be the fastest-growing market during the forecast period.
On the basis of source, bovine skin is expected to be the fastest-growing segment. Gelatin sourced from bovine skin is considered beneficial for strong DNA and RNA strands. Furthermore, it also helps in healthy muscle growth and aids in energy production during workouts, leading to the growth of this segment.
Europe is projected to account for the largest market share during the forecast period.
Europe accounted for the largest share of the gelatin market. The dominance in this region is attributed to the high demand for nutritional and functional food & beverage products along with the growing pharmaceutical industry. Moreover, the abundant availability of raw materials as well as the presence of key gelatin manufacturing contributes to the growth of the market in the region.
Key Market Players:
The major vendors in the global gelatin market are Darling Ingredients (US), Gelita (Germany), Nitta Gelatin (Japan), Tessenderlo Group (Belgium), Weishardt (France), Trobas Gelatine (Netherlands), India Gelatine & Chemicals (India), Lapi Gelatine (Italy), Junca Gelatines (Spain), Sterling Biotech Group (India), Italgelatine (Italy), and Gelnex (Brazil). These players have broad industry coverage and strong operational and financial strength; they have grown organically and inorganically in the recent past. Key industry players such as Darling Ingredients (US) acquired Triple-T Foods Arkansas (US), which is a specialty pet food ingredient company. This acquisition is expected to help the company in expanding their premium protein business.
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