Extensive Analysis and Forecast of Gelatin Market Growth 2024-2032

  • May 24, 2024
  • | 51

Market Overview

The global gelatin market size was valued at USD 3.07 billion in 2023 and is projected to grow from USD 3.20 billion in 2024 to USD 5.51 billion by 2032, exhibiting a CAGR of 7.03% during the forecast period.(2024-2032)

This information is provided by Fortune Business Insights, in its report titled, “Gelatin Market, 2024-2032.”

Segments

Porcine Gelatin to Hold Largest Share Owing to its Higher Nutrient Content

Based on source, the market is segmented by porcine, bovine, and others.

Porcine segment witnessed strong sales performance over other sources since they are less expensive. Besides, the issue of possible fraud and mislabeling has become a concern among consumers.

Growing Use of the Product in Food & Beverages Propels Gelatin Market Growth

The application segment includes food & beverages, healthcare & pharmaceutical, cosmetics, and others. The food and beverage segment holds a larger share owing to the growing usage of the product in food production to prepare snacks, candies, gummy bears, desserts, and other products.

The market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa in terms of geography.

Report Coverage

The report provides a comprehensive study of market segments and a detailed market overview. It offers a thorough evaluation of current market trends and future opportunities. Additionally, the report includes an extensive analysis of regional insights and their contribution to market growth. The impacts of COVID-19 are discussed to help investors and business owners understand potential market threats. Furthermore, the report examines key players and their prominent strategies to maintain a leading position.

Source: https://www.fortunebusinessinsights.com/gelatin-market-107012

Driving Factors

Expanding Use of Gelatin in Healthcare and Pharmaceutical Industries Will Fuel Market Expansion

The increase in chronic and lifestyle-related disorders, a growing elderly population, and heightened health consciousness have all driven the rising usage of the product in the pharmaceutical industry. The market is expanding due to greater focus on healthcare, driven by rising healthcare costs. Additionally, the product is often associated with benefits such as weight loss and the treatment of brittle bones, rheumatoid arthritis, and osteoarthritis.

Regional Insights

Europe to Dominate Backed by Increasing Prevalence of Bone-Related Diseases

The largest revenue for gelatin market share, which was valued at USD 1.08 billion in 2021, was contributed by Europe. The expansion of the European market is anticipated to be fueled by the rising prevalence of bone-related illnesses.

Due to the movement in consumer desire from traditional items to more health-oriented products, the food and beverage industry dominates the North American market.

Asia Pacific is anticipated to have the market's fastest growth rate. The region's market is expanding as a result of increased chronic disease occurrences and an aging population.

Competitive Landscape

Partnerships among Companies to Secure their Brand Values in the Global Market

Leading market players are continually adopting effective strategies to promote their products and strengthen their market positions. One such strategy involves launching new products through partnerships with other companies to expand their reach to end-users.

Key Industry Development

January 2022: According to a report from Darling Ingredients Inc., the Terasaki Institute for Biomedical Innovation (TIBI), a regenerative medicine research Centre with Californian base, has teamed with the company's global brand, Rousselot Health. With this agreement, the businesses are concentrating on developing gelatin-based medicines that will eventually find use in clinical settings.

List of Key Players Covered in the Report

  • Gelita AG (Germany)
  • Darling Ingredients Inc. (U.S.)
  • Nitta Gelatin, Inc. (Japan)
  • Tessenderlo Group (Belgium)
  • Weishardt (France)
  • Trobas Gelatine B.V. (Netherlands)
  • Lapi Gelatine S.p.a. (Italy)
  • Juncà Gelatines SL (Spain)
  • Italgel S.r.l (Italy)
  • Sterling Biotech Ltd. (India)
  • Gelnex (Brazil)