The global gelatin market is projected to register a robust Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period, with an estimated valuation of USD 5.1 billion by 2028 and USD 3.7 billion by 2023.
This growth is underpinned by the broadening application range, multifunctional attributes, and clean-label characteristics of gelatin. The increasing demand for "free-from" food items and the growing health-consciousness among consumers are also pivotal factors driving the gelatin market's expansion.
The nutraceutical and sports nutrition sectors are witnessing a heightened demand for gelatin due to its substantial protein content. Notably, the pharmaceutical segment is anticipated to exhibit the swiftest growth rate among all application categories within the gelatin market by 2023.
Gelatin finds use in medicines, both hard and soft capsules, tablet coating, granulation, surgical sponges, tableting, microencapsulation, and encapsulation, in addition to various medical practices such as plastic surgery, wound care, orthopedics, dentistry, and cardiovascular procedures. The increasing prevalence of health and medical issues is driving the escalating utilization of gelatin in medical applications.
In Europe, health-conscious consumers often scrutinize product labels prior to purchase, fostering a demand surge for nutritious and clean-label foods. The combination of the fast-paced lifestyle and health awareness among European consumers, coupled with the burgeoning pharmaceutical industry, is propelling the demand for functional and convenient foods in the region.
The presence of prominent gelatin manufacturers like Gelita A.G. (Germany), PB Leiner (Belgium), Trobas Gelatine B.V. (Netherlands), and Lapi Gelatine S.P.A. (Italy) in Europe further contributes to market growth. These manufacturers actively engage in product launches, joint ventures, and acquisitions to meet the escalating demands of the food, beverage, and pharmaceutical sectors.
Key players in the gelatin market landscape comprise Darling Ingredients (US), Tessenderlo Group (Belgium), Nitta Gelatin, Inc. (Japan), Gelita AG (Germany), Weishardt (France), Lapi Gelatine Spa (Italy), India Gelatine & Chemicals Ltd. (India), Trobas Gelatine B.V. (Netherlands), Sterling (India), Roxlor (US), Suheung (South Korea), and Ewald Gelatin GmbH (Germany).
