Newark, June 15, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.3 billion in 2022 bovine gelatin market will reach USD 2.4 billion by 2032. Functional ingredients are increasingly in demand in the food and beverage sector. Being a natural and adaptable stuff, bovine gelatin may provide useful qualities, including gelling, stabilizing, and emulsifying, that can be used in a variety of goods. By creating new applications and formulations that satisfy the increasing demand from customers for multifunctional and natural ingredients, manufacturers may take advantage of this opportunity.
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Key Insight of the Bovine Gelatin Market
Asia Pacific is anticipated to expand at the fastest CAGR of 7.3% over the projection period.
Asia Pacific is expected to grow at the fastest CAGR of 7.3% over the forecast period. Asia Pacific nations have been concentrating more recently on enhancing the healthcare system and aiming to achieve the goals by guaranteeing health benefits and general well-being for all ages, which encourages the use of gelatin in the healthcare sectors. The expansion of the market as a whole is driven by improved medical services and a greater understanding of the function of bovine gelatin. According to the "India Brand Equity Foundation," for instance, the Indian healthcare industry is predicted to grow threefold between 2016 and 2022 as a result of the growing number of international visitors who come to India for medical treatment. Additionally, according to the "Economic Survey, 2022," India's public spending on the healthcare industry increased from 1.8% in 2020–2021 to 2.1% in 2021–2022.
In the bovine gelatin market, the capsules and tablet segment is anticipated to expand at the highest CAGR of 7.8% over the projection period.
The capsules and tablets segment is anticipated to expand at the highest CAGR of 7.8% over the projection period. Within the market for bovine gelatin, the category of capsules and tablets is a prominent application segment. Hard-shell gelatin capsules are frequently made using bovine gelatin as a primary component. Due to their simplicity in swallowing, precision in dosing, and compatibility with a variety of active pharmaceutical ingredients (APIs), these capsules are the dosage form of choice for oral medication administration. Pharmaceuticals and nutritional supplements can be delivered to consumers and patients using bovine gelatin capsules because they are efficient and bioavailable.
In the bovine gelatin market, the food & beverages segment is anticipated to expand at the highest CAGR of 7.9% over the projection period.
The food & beverages segment is anticipated to expand at the highest CAGR of 7.9% over the projection period. In terms of application, the market for bovine gelatin has a significant food and beverage segment. Because of its practical qualities and adaptability, bovine gelatin is often utilized in the food and beverage sector. Numerous dairy products, including yogurt, cream cheese, and sweets, include bovine gelatin. It serves as a substance that stabilizes, reducing whey separation and enhancing dairy products' texture and consistency. To improve the texture and mouthfeel of low-fat or fat-free dairy products, bovine gelatin can also be utilized in their manufacturing.
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Market Dynamics
Driver
In the pharmaceutical sector, bovine gelatin is frequently used to make coatings, tablets, and capsules. The need for bovine gelatin is being fuelled by the expanding nutraceutical and pharmaceutical industries, which are being fuelled by factors such as an aging population, rising healthcare costs, and the desire for nutritional and functional supplements. Additionally, bovine gelatin is used in the personal care and cosmetics business, notably in skincare, hair, and nail products. It is prized for its ability to produce films, moisturize, and fight aging. The need for bovine gelatin is being fuelled by the growing cosmetics and personal care market, which is being pushed by factors such as rising beauty consciousness and shifting lifestyles.
Opportunity
Beyond the food and beverage sector, bovine gelatin is used in other industries. Its application in healthcare, cosmetics, nutraceuticals, and other sectors is possible. Bovine gelatin, for instance, can be used to make biomedical components, cosmetic formulations, wound dressings, and medication capsules. These non-food uses provide manufacturers a chance to broaden their product lines and increase their market share.
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Some of the major players operating in the bovine gelatin market are:
• NITTA GELATIN, INC.
• Lapi Gelatin S.p.A.
• Jellice Pioneer Europe B.V.
• Darling Ingredients Inc.
• Gelita AG
• Merck KGaA
• Lonza Group
• Bernard Jansen Products Inc.
• Luoyang Leston Import and Export Trade Co., Ltd.
• Nutra Food Ingredients, LLC
Key Segments cover in the market:
By Form
• Capsules & Tablets
• Powder
• Others
By Application
• Healthcare & Pharmaceuticals
• Food & Beverages
• Cosmetics
• Others
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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