Globally, Gelatin market to reach US$3,373 Million by 2024: IMARC

Global gelatin market is anticipated to grow at a CAGR of more than 6% during 2019-2024, reaching a value of US$ 3,373 Million by 2024.

Gelatin is a flavourless, colourless and water-soluble food protein obtained from collagen which is derived from the body parts of various mammals. According to recent market research by IMARC Group, the global gelatin market was estimated to be US$ 2,300 Million in 2018 and is expected to reach US$ 3,373 Million by 2024. The research also revealed that globally, pig-skin holds the dominant market share and represents the most preferred raw material for manufacturing gelatin. Besides, bovine hides and bones are also major sources of gelatin.

The latest report by IMARC Group, titled "Gelatin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", estimates that the global gelatin market at a CAGR of more than 8% during 2011-2018, reaching a value of US$ 2,300 Million in 2018. The gelatin is available in numerous forms commercially, such as powder, sheets and granules. Generally composed of water, mineral salts and proteins, gelatin forms a thermally reversible elastic gel when mixed with water and gives a unique organoleptic property and flavour release to the products. Due to its water-binding, crystallization control and film-forming properties, gelatin is employed in food, pharmaceutical, nutraceutical, photography, cosmetic and packaging industries.

The key factors driving the growth of the gelatin market is the extensive applications of gelatin as a viscosity controlling, cleansing and thickening agent. In the food and beverage industry, gelatin is utilized as a gelling and stabilizing agent to provide consistency and stability to food products such as candies, marshmallows, cakes, ice creams and yoghurt. Apart from this, gelatin is also known to improve the appearance of skin and quality of hair, owing to which it is employed in the manufacturing of several personal care products. Changing lifestyles, improving standards of living and inflating disposable, market price and incomes of consumers have led to a positive market demand for food items and cosmetics which, in turn, is giving a thrust to the market growth. Moreover, gelatin offers numerous health benefits due to its unique combination of amino acids. As a result, it plays an important role in the treatment of osteoarthritis, rheumatoid arthritis and osteoporosis in the medical industry. On account of these factors, the global gelatin market is anticipated to grow at a CAGR of more than 6% during 2019-2024, reaching a value of US$ 3,373 Million by 2024.

On the basis of end-uses, gelatin is largely utilized in the food and beverage sector, accounting for the majority of the market share. Other major segments include nutraceuticals, pharmaceuticals, photography and cosmetics. Region-wise, the global gelatin market has been categorized into Europe, North America, Asia and South America. Amongst these, Europe is the leading market for gelatin, exhibiting a clear dominance in the industry. Some of the key players operating in the gelatin market include Gelita AG, Rousselot SAS, PB Gelatin, Sterling Biotech, Weishardt and Nitta Gelatin.

(With inputs from Rahul Rastogi, IMARC Group)