Global Gelatin Market to Grow at a CAGR of 4.3% during 2022-2028

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global Gelatin Market was worth USD 2.4 billion in the year 2022. It is estimated to grow at a CAGR of 4.3%, earning revenue of around USD 5.9 billion by the end of 2028. The significant growth of the Global Gelatin Market is attributed to urbanization, changing lifestyles, rising consumption of protein-rich food, expanding Food and Beverage industry, rapid technological innovation, and increasing usage of Gelatin in the food industry to make marshmallows, fruit snacks, candy, desserts, gummy bears, cheesecakes, jelly chocolates, and other gelatin-based snacks. Also, it is widely used in pharmaceuticals to make hard capsules, soft gels, ointments, and drug coating purposes, it is used in cosmetics, and animal feed. All these factors increase the demand for gelatin, hence, influencing the growth of the Global Gelatin Market during the forecast period. Furthermore, Global Gelatin Market is one of the most booming markets that grow continuously owing to the fast advantages and integration of new technologies like the Internet of Things (IoT), artificial intelligence (AI), cloud computing, and others. There is a surge in demand for dietary supplements, functional, and processed food products in various countries around the globe and to meet this demand various market players are promoting new gelatin-based protein-enriched food products. Thus, Gelatin is essential for a healthy lifestyle. However, some factors like side-effects due to an overdose of gelatin, and gelatin consumption concerns among vegetarian consumers as gelatin is extracted as a by-product by the slaughtering of an animal.

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Due to this people's fear of buying gelatin-based products are the major restraining factor for the growth of the Global Gelatin Market. Moreover, nowadays plant-based food supplement is popular owing to the shifting preferences of consumers towards vegan and organic food products, resulting in driving the demand of the plant-based gelatin. The demand for gelatin in cosmetics, photographic process as a binding agent to hold the silver halide crystals that are used in photographic film, and medicine for weight loss, improving hair, and skin problems, and to protect the content inside the capsules, in general, is gaining huge popularity among consumers across the globe. Gelatin-based food, gelatin-based tablets, beauty products, healthy organic powder, gelatin jellies, candies, and other products have already carved a niche for themselves in the market, hence the market is anticipated to proliferate during the forecast period (2023-2028) around the globe.

Based on the Source, the Global Gelatin Market is segmented into Pigskin, Cattle Bones, and Marine & Poultry. The Pigskin segment dominates the market owing to its health benefits. Pigskin has rich protein collagen, which is the best form of gelatin. Pigskin gelatin is widely used in various capsules, and cosmetics as a stabilizer, and binding agent owing to its health benefits such as managing blood sugar, weight loss, improving hair and skin related problems, and others. Based on End-User, the Global Gelatin Market is segmented into nutritional products, Food and Beverages, pharmaceuticals, personal care, and photography. The Food and Beverages segment dominates the market during the forecast period because the major consumers of gelatin are associated with the Food and Beverages industry owing to its benefits such as being rich in protein and suitable for healthy functional and nutritional food and beverage. Gelatin is naturally obtained from animal connective tissue and thus it is considered a clean label ingredient. Moreover, the pharmaceutical segment is also increasing the demand for gelatin due to the increasing demand for cosmetics, tablets, capsules, and ointments.

Geographically, the Global Gelatin Market is segmented into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA). The Europe segment accounts to hold the largest share in the market owing to the urbanization, and rising purchasing power of consumers, development in the food and healthcare industry in this region. Moreover, the wide availability of raw materials and key gelatin manufacturing are driving the growth of the Global Gelatin Market. The sudden outbreak of COVID-19 negatively impacted the Food and Beverage industry, pharmaceuticals, agriculture, and there was huge decline in the global economy, supply chains, health, and quality of life of people. People are more aware of food consumption, and are buying new products during the pandemic which restrains the demand for gelatin. Moreover, due to the economic crisis, government imposed social distancing norms, and shortage of raw materials, there is a halt in the production of gelatin which negatively impacted the growth of the Global Gelatin Market. However, post-pandemic, there is a surge in demand for healthy and nutritional processed food products which in turn increases the demand for gelatin during the forecast period.

The leading market players in the Global Gelatin Market are Gelita (Germany), Darling Ingredients (US), Nitta Gelatin (Japan), Weishardt (France), India Gelatine &Chemicals (India), Tessenderlo Group (Belgium), Trobas Gelatine (Netherlands), Italgelatine (Italy), Sterling Biotech Group (India), Lapi Gelatine (Italy), gelnex (Brazil), Junca Gelatines (Spain), and other prominent players. The Global Gelatin market is highly consolidated with the presence of multinational Food and beverages and pharmaceutical companies. These companies constantly launch a wide range of products with innovations to attract consumers and significantly invest in research and development activities to further innovate their offerings. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

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