Gelatin Market Was Valued at USD 3,265.8 Million in 2021 Owing to Increased Pharmaceutical Applications

According to Precision Business Insights (PBI) latest report, the global gelatin market is worth USD 3,265.8 million in 2022, growing at a 5.1% CAGR from 2022 to 2028. The global gelatin market is segmented into the following types: By is Product (Porcine, Bovine skin, Bovine bone, and Fish & poultry), By Application (Food & Beverages, Pharmaceuticals, Nutraceuticals, and Others), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa) Forecast to 2028. Key player's profiles in the gelatin market report are Nitta Gelatin India Limited, Tessenderlo Group., GELITA AG, Lapi gelatine, India Gelatine & Chemicals Ltd., Juncà Gelatines SL., Trobas Gelatine B.V., Weishard, and Darling Ingredients Inc. Gelatin demand is being driven by rising demand for functional and convenience food and beverage products, increased application in the pharmaceutical industry, and increasing demand for clean label products. Because of its high protein content, gelatin is in high demand in the nutraceutical and sports nutrition industries, and it is also in high demand in the medical and biomedical sectors. The rise in demand for pharmaceutical applications, as well as the increase in demand for medical and biomedical applications, the surge in demand for clean-label products, the rise in demand for naturally sourced ingredients, and the rise in demand from various industries such as nutraceuticals, personal care, and photography, are all crucial factors driving the market growth. Demand for marine gelatin consumption has risen in recent years as the use of marine gelatin in various applications has grown. Although fish-derived gelatin is a viable alternative to mammalian sourced gelatin, there are certain limitations related to the use of fish gelatin that includes odor, color, functional properties, and consistency in its amino acid composition.

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The food & beverage segment Dominates the Gelatin Market:
The food & beverage application segment generated the most revenue in the global gelatin market. The food segment is expected to grow the fastest due to its wide range of applications and high nutritional value. The growing demand for nutritional foods and beverages has boosted the demand for gelatin. Gelatin is a clean label ingredient naturally derived from animal connective tissues. As a result, rising consumer preferences for pure label products are propelling the global gelatin market forward. Massive demand from food and beverage industries and increasing demand from pharmaceutical, nutraceutical, and biomedical sectors drive the market. Stringent regulations for gelatin production and use, fluctuations in raw material supply and demand, religious rules for the gelatin industry, and alternative gelatin products will hinder the market growth.

Europe Leads Gelatin Market:
Europe accounted for the largest revenue share in the global gelatin market owing to increasing demand for gelatin from food and beverages and nutraceuticals industries and increased consumption of gelatin-based products such as cosmetics, food products, and rejuvenation beverages, and pharmaceutical products. North America and Asia-Pacific regions are expected to gain the significant market growth over the forecast years due to increasing consumption of gelatin-based foods, beverages, healthcare products, and cosmetics
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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global gelatin market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance,In May 2021, Darling Ingredients Inc. announced that its Rousselot brand expanded its range of purified, pharmaceutical-grade, and modified gelatin with the launch of X-Pure® GelDAT - Gelatin Desaminotyrosine.

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Detailed Segmentation
Based on the Product, the market is segmented into the following:
• Porcine
• Bovine skin
• Bovine bone
• Fish & poultry

Based on the Application, the market is segmented into the following:
• Food & Beverages
• Pharmaceuticals
• Nutraceuticals
• Others.

Based on the geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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This release was published on openPR.