Gelatin Market to Reach US$ 3,373 Billion by 2024
Gelatin is extensively used in the food and beverage, personal care, and pharmaceutical sectors on account of its adhesive, gelling and stabilizing properties. Owing to the high demand from these industries, the global gelatin market has experienced healthy growth over the past few years.
The latest report by IMARC Group, titled “Gelatin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the global gelatin marketat a CAGR of more than 8% during 2011-2018, reaching a value of US$ 2,300 Million in 2018. Gelatin is a flavorless, colorless and water-soluble food protein obtained from collagen which is derived from the body parts of various mammals. It is available in numerous forms commercially, such as powder, sheets and granules. Generally composed of water, mineral salts and proteins, gelatin forms a thermally reversible elastic gel when mixed with water and gives a unique organoleptic property and flavor release to the products. Due to its water binding, crystallization control and film forming properties, gelatin is employed in food, pharmaceutical, nutraceutical, photography, cosmetic and packaging industries.
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Market Trends:
One of the key factors which is driving the growth of the gelatin market is the extensive applications of gelatin as a viscosity controlling, cleansing and thickening agent. In the food and beverage industry, gelatin is utilized as a gelling and stabilizing agent to provide consistency and stability to food products such as candies, marshmallows, cakes, ice creams and yogurt. Apart from this, gelatin is also known to improve the appearance of skin and quality of hair, owing to which it is employed in the manufacturing of several personal care products. Changing lifestyles, improving standards of living and inflating disposable, market price and incomes of consumers have led to a positive demand for food items and cosmetics which, in turn, is giving a thrust to the market growth. Moreover, gelatin offers numerous health benefits due to its unique combination of amino acids. As a result, it plays an important role in the treatment of osteoarthritis, rheumatoid arthritis and osteoporosis in the medical industry. On account of these factors, the global gelatin market is anticipated to grow at a CAGR of more than 6% during 2019-2024, reaching a value of US$ 3,373 Million by 2024.
Market Summary:
- Based on raw materials, the market report of gelatin has been segregated into pig skin, bovine hides and bones. Amongst these, pig skin holds the dominant market share and represents the most preferred raw material for manufacturing gelatin.
- On the basis of end-uses, gelatin is largely utilized in the food and beverage sector, accounting for the majority of the market share. Other major segments include nutraceuticals, pharmaceuticals, photography and cosmetics.
- Region-wise, the global gelatin market has been categorized into Europe, North America, Asia and South America. Amongst these, Europe is the leading market for gelatin, exhibiting a clear dominance in the industry.
- Some of the key players operating in the gelatin market include Gelita AG, Rousselot SAS, PB Gelatin, Sterling Biotech, Weishardt and Nitta Gelatin.
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