Portland, OR, Oct. 26, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global bovine gelatin market generated $2.81 billion in 2020, and is expected to generate $6.15 billion by 2030, witnessing a CAGR of 8.2% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Inclination toward a healthy lifestyle, surge in demand for collagen peptide and gelatin as functional ingredients in the food processing industry, and rise in demand for naturally sourced ingredients drive the growth of the global bovine gelatin market. However, stringent food regulations toward animal-origin food additives hinder the market growth. On the other hand, utilization of gelatin in fortified confectionery and sports nutrition products present new opportunities in the coming years.
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Covid-19 Scenario:
- Manufacturing activities of bovine gelatin hindered due to lockdown during the Covid-19 pandemic. There was shortage of raw materials due to disruptions in import and export activities. Moreover, distribution activities were hampered.
- Owing to partial or complete stoppage of operations in the end-use industries such as food and beverages, cosmetics & personal care, pharmaceuticals, and others, the demand for bovine gelatin reduced considerably. However, the demand would recover post-lockdown.
The report offers detailed segmentation of the global bovine gelatin market based on form, nature, end-use industry, distribution channel, and region.
Based on form, the capsule & tablets segment held the highest share in 2020, accounting for around three-fifths of the total share, and is estimated to maintain its dominance during the forecast period. However, the powder segment is projected to manifest the highest CAGR of 8.7% from 2021 to 2030.
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Based on end-use industry, the food & beverage segment accounted for the highest share in 2020, contributing to more than half of the total share of the global bovine gelatin market, and is expected to continue its lead position throughout the forecast period. However, the pharmaceuticals segment is expected to witness the highest CAGR of 8.8% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in 2020, holding nearly two-fifths of the total market share, and is expected to continue its leadership status by 2030. However, LAMEA is projected to manifest the largest CAGR of 9.0% during the forecast period.
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Leading players of the global bovine gelatin market analyzed in the research include Bernard Jensen, Gelita, Darling Ingredients, Great Lakes Wellness, Gelnex, Nitta Gelatin Inc., Lapi Gelatine Spa, Trobas Gelatine BV, Tessenderlo Group, and Weishardt.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including, Life Science, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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