Chicago, Oct. 02, 2023 (GLOBE NEWSWIRE) -- The gelatin market refers to the industry involved in the production, distribution, and utilization of gelatin, a protein derived from collagen found in the connective tissues of animals, primarily cattle and pigs. Gelatin is a versatile ingredient with various applications across different sectors, driving the growth and dynamics of this market.
How big is the gelatin market?
The global gelatin market will grow to $5.1 billion by 2028 from $3.7 billion in 2023, growing at a CAGR of 6.6% during the forecast period. The wider application scope, multiple functionalities, and clean-label claim are eventually driving the global gelatin market growth.
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Gelatin Market Scope:
| Report Metric | Details |
| Market valuation in 2023 | USD 3.7 billion |
| Revenue forecast by 2028 | USD 5.1 billion |
| Growth rate | CAGR of 6.6% |
| Largest Growing Region | Europe |
| Market Driver | Growing demand for functional and convenience food and beverages |
| Market Opportunities | The growth of the gelatin market in emerging economies can be attributed to shifting lifestyles and dietary preferences towards Western eating habits, a rising demand for functional ingredients in food products, and increased industrial activity necessitating process improvements. |
Who are the top gelatin manufacturers?
List of Top Companies Operating in the Gelatin Industry Worldwide:
- Darling Ingredients (US)
- Tessenderlo Group (Belgium)
- Nitta Gelatin, Inc. (Japan)
- Gelita AG (Germany)
- Weishardt (France)
- Lapi Gelatine Spa (Italy)
- India Gelatine & Chemicals Ltd. (India)
- Trobas Gelatine B.V. (Netherlands)
- Sterling (India)
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What are the driving factors of gelatin market?
- Food and Beverage Industry: The food and beverage industry is a major driver of the gelatin market. Gelatin is used in a wide range of food products, including desserts, gummy candies, yogurts, and as a gelling agent in various culinary applications.
- Pharmaceutical Industry: Gelatin is a common ingredient in pharmaceuticals, particularly in the production of capsules and as a coating for tablets. The growth of the pharmaceutical industry directly affects the demand for gelatin.
- Cosmetics and Personal Care Products: Gelatin is utilized in cosmetics and personal care products, such as creams, lotions, and shampoos, for its gelling and thickening properties. The beauty and personal care industry's expansion drives the gelatin market.
- Health and Nutraceuticals: Gelatin is used in dietary supplements, as it is a source of protein and is believed to have various health benefits. The increasing focus on health and wellness contributes to the demand for gelatin-based nutraceutical products.
- Emerging Markets: Growing economies and rising disposable incomes in emerging markets have led to increased consumption of processed foods and pharmaceuticals, which, in turn, boosts the demand for gelatin.
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Which segment of gelatin market is projected to grow at the fastest rate?
The pharmaceutical segment is the fastest-growing segment due to an increase in the use of gelatin in medicines, hard and soft capsules, tablet coating, granulation, surgical sponges, tableting, microencapsulation, and encapsulation. It is also used in plastic surgery, wound care, orthopedics, dentistry, and cardiovascular practices. Increasing instances of health and medical issues are mainly responsible for the overall growth in the usage of gelatin in medical applications.
Which region is witnessing the highest growth rate in the gelatin market?
Europeans are health-conscious and often scrutinize the ingredients on the labels before purchasing them. This high level of awareness has resulted in the rise in demand for nutritious and clean-label foods in Europe. The growing demand for convenience and functional foods in Europe due to fast-paced lifestyles and health-conscious consumers, along with the growing pharmaceutical industry, creates growth opportunities for the gelatin market. The presence of a few gelatin manufacturers such as Gelita A.G. (Germany), PB Leiner (Belgium), Trobas Gelatine B.V. (Netherlands), and Lapi Gelatine S.P.A. (Italy) is expected to drive the market for gelatin in Europe. Companies operating in the region also invest in product launches, joint ventures, and acquisitions to meet the growing demand from the food, beverage, and pharmaceutical industries. This ample availability of raw materials and the high dependence of the European population on these sources pose drivers for the growth of the gelatin market in the region.
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