Gelatin Market Size Worth $6.7 Billion By 2027
The global gelatin market size is expected to reach USD 6.7 billion by 2027, registering a CAGR of 9.2% over the forecast period, according to a new report by Grand View Research, Inc. Growing demand from several end-use industries including nutraceutical owing to its high protein content is expected to drive the product demand over the forecast period.
Gelatin is an essential biopolymer extensively used to improve elasticity, consistency, and stability in several end-use products and can be sourced from skin and bones of cattle and pigs as well as from scales of ﬁsh. Bovine is one of the most common sources for the extraction of gelatin, which is found in cow bones, cartilage, and hides. Different grades of gelatin are extracted from bones, hides, and cartilage. It is available in abundance on account of large number of cows and increasing beef production.
Gelatin from marine sources is expected to witness a high growth rate over the forecast period, since it superior than types that are derived from other sources, owing to its high absorption rate and bioavailability. High absorption rate into the bloodstream allows in effectively improving the gelatin levels in the body, especially skin. However, marine gelatin costs relatively higher than bovine and porcine ones, which is expected to restrain its market growth.
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The growing focus on personal care, health, and fitness is expected to drive the gelatin market over the forecast period. The demand for plant-based gelatin in countries such as India is rising, since the consumption and slaughter of beef and cattle is prohibited. In addition, the increasing use in healthcare and pharmaceutical applications is expected to have a positive impact on the market.
The market is characterized by a number of localized players that are involved in the supply of raw materials and product manufacturing. In addition, the market is highly dominated by majority of the players involved in the manufacturing and distribution of gelatin products. The growing applications of gelatin and related products are likely to drive the demand for the product over the forecast period.
Gelatin Market Report Highlights
- The global market is likely to generate a demand for 868.9 kilotons by 2027 owing to rising demand for convenience and functional food and beverage products, coupled with its augmented use in the pharmaceutical application
- In terms of revenue, Asia Pacific emerged as the fastest growing region in the gelatin market across the globe
- Asian countries particularly India and China are likely to witness a remarkable growth in next seven years due to growing population and increased per capita income
- The market is highly fragmented and competitive, with the presence of well-established industry players trying to gain an edge in the competition
- Some of the key companies present in the market are Gelita AG; Nitta Gelatin Inc.; Capsugel Inc.; Darling Ingredients Inc.
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Grand View Research has segmented the global gelatin market on the basis of raw material, function, application, and region