Gelatin Industry is estimated to Expand Its Roots and Thrive at an Average CAGR of 5.8% by 2032
The global gelatin market size reached US$ 3.1 billion in 2021 and is likely to grow at a CAGR of 5.8% during the forecast period (2022-2032), totaling around US$ 5.9 billion by the end of 2032. Rising demand for fast food and functional foods, increased health consciousness, and application in diverse industries such as pharmaceutical and cosmetics are some of the key factors driving the gelatin market. Growing use of gelatin in culinary, medicinal, and nutritional solutions due to its unique behavioral features will further spur the sales.
Also, with rising health consciousness, demand for supplements is expected to remain high. Hence, key players are focusing on development of soft gel capsules to cater to the growing demand, facilitating the growth in the market.
Further, increased popularity of gelatin-based biomedical products to improve the texture and quality of hair is anticipated to boost demand. Consequently, sales are predicted to surge with the use of gelatin in the haircare as it reduces hair loss. Gelatin is also expected to be used effectively in the personal care industry as desire for hair care treatment products necessitates the growth.
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With rapid expansion of food industry, demand for gelatin is expected to witness an upsurge due to its wide variety of applications and strong nutritional value. Gelatin is a highly nutritious and useful protein source that may be added to food and beverage items. Hence, sales of gelatin are projected to surge as need for nutrient-dense foods and beverages grows. Gelatin is a naturally occurring component that comes from the connective tissues of animals. Thus, the growing demand for clean label products will also fuel the expansion of the global gelatin market.
Key Takeaways:
- By 2022, the U.S. is predicted to hold the top market position, with over 40% of sales in the global gelatin market.
- North America is expected to retain its dominance in the global gelatin market holding over 2/5th of sales in the market.
- China gelatin market is anticipated to be valued over US$ 300 Million in 2022.
- Japan and South Korea are expected to lead the East Asia gelatin market, with respective market valuations of US$ 200 million and US$ 100 million.
- In terms of source, porcine is expected to be the most preferred source for gelatin, contributing nearly 50% of sales in the market.
Growth Drivers:
- Increasing application of gelatin in food & beverage due to rising sales of the substance as a commercial food stabilizer will propel the growth.
- Sales of gelatin are predicted to burgeon with growing demand in cosmetics and pharmaceutical industries.
Competitive Landscape:
Key players in the gelatin market are focusing on introducing new products and develop purified gelatin to adhere to the stringent regulations. They are also investing in research and development activities to expand their product portfolio and gain strong foothold in the industry.
For instance,
- In May 2021, with the introduction of X-Pure Geldat-Gelatin-gelatin Desaminotyrosine, Darling Ingredients Inc. stated that its Rousselot brand has increased its selection of modified, pharmaceutical-grade, and purified gelatin.
- Under its SiMoGel trademark, Rousselot introduced a new delivery method for pharmaceutical and nutraceutical gelatin ingredients: gummy caps. In November 2020, it allowed the producers to capitalize on the expanding popularity of chews and gummies.
Key Companies Profiled by Fact.MR
- Darling Ingredients
- Tessenderlo Group
- Nitta Gelatin
- Gelita
- Weishardt
- Italgelatine
- Lapi Gelatine
- Gelinex
- Junca Gelatines
- Torbas Gelatine
- India Gelatine & Chemicals among others.
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More Valuable Insights on Gelatin Market
In the latest study, Fact.MR offers a detailed study on global gelatin market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of gelatin through detailed segmentation as follows:
By Source:
- Porcine
- Bovine Skin
- Bovine Bone
- Fish & Poultry
By Type:
- Type A
- Type B
By Function:
- Thickening
- Gelling
- Stabilizing
- Emulsifier
- Binding Agent
- Fat Replacer
- Coating Agent
- Others
By Application:
- Food
- Bakery & Confectionary
- Nutrition Products
- Beverage
- Daily Products
- Meat Products
- Other Food Products
- Pharmaceutical & Healthcare
- Cosmetics
- Photography
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
Key Questions Covered in the Gelatin Market Report
- What is the projected value of the gelatin market in 2022?
- At what rate will the global gelatin market grow until 2032?
- Which are the factors hampering the growth gelatin market?
- Which region is expected to lead in the global gelatin market during 2022-2032?
- Which are the factors driving the gelatin market during the forecast period?
- What is the expected market value of the gelatin market during the forecast period?
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