(I-BusinessNews.Com, June 03, 2021 ) Gelatin Market size in 2020 is estimated to be $2.6 billion, growing at a CAGR of 5.6% during the forecast period 2021-2026. Gelatin is a colourless, translucent and flavourless food ingredient. It is made from collagen taken from animal body part such as skin, tendons, ligaments and others from different animal such as fish, pig, sheep, and bovines among others. It is rich in protein and improves joint and bone health. Increasing awareness about health and growing consumption of protein-rich food products are the major factors driving the growth of the market. Moreover, growing demand of functional and convenience food & Beverages further enhance the overall market demand for Gelatin during the forecast period 2021-2026.
Gelatin Market Segment Analysis – By Type
Based on the Product Type, Gelatin Market is segmented into Type A, Type B. The Type A segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 4.9% during the forecast period 2021-2026. This is mainly owing to growing usage of Type A gelatin in food and beverage industries. Moreover, it contains more protein which improves bone health and has high consumption thus contributing to the growth of this segment.
Gelatin Market Segment Analysis – By Source
Based on the Functionality, Gelatin Market is segmented into Porcine, Bovine Skin, Bovine Bone, Fish & Poultry. In 2020, Porcine held the largest share in the Gelatin market. This is mainly owing to it is widely used in food and beverage industries. Moreover, pig skin contains high amount of collagen and thus contributing to the growth of this segment.
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Gelatin Market Segment Analysis – By Application
Based on the Applications, Gelatin Market is segmented into Food & Beverages, Pharmaceuticals, Healthcare, Nutraceuticals, Others. In 2020, Food and Beverage segment held the largest share in the Gelatin market. This is mainly owing to gelatin being rich in protein and having wide use in food products. Moreover, increasing preference of clean label products is also contributing to the growth of this segment.
Gelatin Market Segment Analysis – By Geography
In 2020, Europe dominated the Gelatin market accounting for 41% of the market share. This is mainly owing to increasing consumption of functional foods and beverages and growing number of slaughterhouses in this region.
However, the Asia-Pacific region is projected to be the fastest-growing during the forecast period 2021-2026. This is owing to increasing awareness among people about health and changing food habits.
Gelatin Market Drivers
Increasing Awareness About Health
Increasing awareness about health and high demand of convenient drink are some factors driving the growth of Gelatin market. Moreover, high shelf life of the product and convenience packaging and storage is also set to drive the market growth.
Growing Demand From Nutraceutical and Sport Nutrition Segment
Growing demand of gelatin from nutraceutical and sport nutrition segment owing to high protein content are driving the growth of the market. Moreover growing application in medical and biomedical industries further contribute to the growth of gelatin market.
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Gelatin Market Challenges
Presence of low quality products and long downtime taken for approval of ingredients are challenging the growth of the market. Moreover, variability in raw material costs are further restraining its market growth during the forecast period 2021-2026.
Gelatin Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Gelatin Market. Gelatin top 10 companies are Darling Ingredients, Gelita, Nitta Gelatin, Gelnex, Italgelatine, Sterling Biotech Group, Trobas Gelatine, Lapi Gelatine, Junca Gelatines, SAS Gelatines Weishardt.
Acquisitions/Product Launches:
January 2020, Darling Ingredients has acquired EnviroFlight. This acquisition helps to expand their food ingredients portfolio.
October 2017, Gelnex has expanded production capacity with fifth gelatin manufacturing plant.
Key Takeaways
In 2020, Europe dominates the Gelatin Market owing to increasing consumption of functional foods and beverages
Increasing demand for gelatin from the nutraceutical and sports nutrition industrial segment is driving the market growth of Gelatin.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Gelatin Market report.
Presence of low quality products and variability in raw material prices are challenging the growth of the market.
Related Reports :
A. Food Grade Gelatin Market
https://www.industryarc.com/Research/Food-Grade-Gelatin-Market-Research-509537
B. Animal Protein Ingredient Market
https://www.industryarc.com/Report/7442/animal-protein-ingredient-market.html
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