The global gelatin market size is projected to grow from USD 2.6 billion in 2018 to USD 3.6 billion by 2023, at a CAGR of 6.6%
NEW YORK, Feb. 20, 2019 /PRNewswire/ -- Growing demand for functional and convenience food & beverage products is expected to drive the demand for gelatin.
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The global gelatin market size is projected to grow from USD 2.6 billion in 2018 to USD 3.6 billion by 2023, at a CAGR of 6.6% during the forecast period. The gelatin market is driven by various factors such as the growing demand for functional and convenience food & beverage products, increasing application in the pharmaceutical industry, and rising demand for clean-label products. However, competition from gelatin alternatives and cultural restrictions are projected to hinder the growth of the market.
Abundant availability and health benefits of gelatin drive the bovine skin market growth.
In terms of value, the bovine skin segment is projected to grow at the highest CAGR from 2018 to 2023.Bovine is one of the most widely used sources to manufacture gelatin because of its abundance and easy availability.
Gelatin is also helpful in muscle mass building, metabolism boosting, and skin & hair improvement.Yet, some consumers demand an alternative gelatin source due to factors such as the growing demand for vegan food products, religious barriers, health concerns, and increased raw material prices.
The rising demand for sports nutrition and fortified food & beverage products fuels the demand for bovine skin gelatin.
The food segment is projected to hold the largest market share during the forecast period.
In terms of value, the food segment is estimated to hold the largest market share in 2018.Gelatin is considered as a non-allergic protein source to be incorporated in functional & nutritional food & beverage products.
The rising demand for nutritional confectionery products as well as functional beverages such as nutritional bars and sports drinks has been stimulating the demand for gelatin. Moreover, gelatin is naturally derived from animal skin and bone, making them clean label ingredients.
Asia Pacific is projected to be the fastest-growing region in the gelatin market, in terms of value.
The Asia Pacific market is projected to be the fastest-growing.According to the Population Reference Bureau in 2014, the fast-growing consumer markets of China, India, and other Asia Pacific countries have a combined population exceeding four billion people; this is projected to become an increasingly important driver for global consumption over the next two decades, led by rapidly rising household incomes and fast-growing middle-class population.
As a result, the region is estimated to dominate the gelatin market in terms of value.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, livestock breeders, and executives from various key organizations operating in the gelatin market.
• By Company Type: Tier 1: 30%, Tier 2: 25%, and Tier 3: 45%
• By Designation: C-level: 35%, D-level: 25%, and Managers: 40%
• By Region: North America: 20%, Europe: 25%, Asia Pacific: 40%, and RoW: 15%
The gelatin market comprises major solution providers such as Darling Ingredients (US), Gelita (Germany), Nitta Gelatin (Japan), Tessenderlo Group (Belgium), Weishardt (France), Trobas Gelatine (Netherlands), India Gelatine & Chemicals (India), Lapi Gelatine (Italy), Junca Gelatines (Spain), Sterling Biotech Group (India), Italgelatine (Italy), and Gelnex (Brazil). The study includes an in-depth competitive analysis of these key players in the gelatin market, with their company profiles, recent developments, and key market strategies.
Research Coverage
The study covers the gelatin market across segments.It aims at estimating the market size and its growth potential across different segments such as source, application, and region.
The study also includes an in-depth competitive analysis of key players in the market, along with company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall gelatin market and subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report will also help the stakeholders to understand the pulse of the market and will provide them with information on the key market drivers, restraints, challenges, and opportunities.
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