Gelatin Market: Food segment is projected to witness the fastest growth by 2023

Posted on 2021-04-16 by MarketsandMarkets in Food & Beverage, Pharmaceuticals // 0 Comments

The Gelatin Market 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 wider application scope, multiple functionalities, and clean-label claim are eventually driving the global gelatin market growth. With the rising health consciousness among consumers and demand for “free-from” food products, the market of gelatin is expected to rise. There has also been an increasing demand for gelatin from the nutraceutical and sports nutrition segment due to its high protein content.

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By application, the food segment is projected to witness the fastest growth in the market during the forecast period.

The food segment is projected to witness the fastest growth due to a wide range of applications in food and high nutritional value. Gelatin is a highly rich protein source to be incorporated into functional & nutritional food & beverage products.

The rising demand for nutritional food & beverages has been stimulating the demand for gelatin. Gelatin is naturally derived from animal’s connective tissues and considered as a clean label ingredient. Hence, the increased consumer preferences for clean label products drive the growth of the global gelatin market.

Europe is estimated to account for the largest share of the market in 2018. The presence of a large number of food & beverage companies presents the European gelatin market with a prominent consumer base. The ample availability of raw materials and high dependence of the European population on these sources pose as drivers for the growth of the gelatin market in the region. The growing demand for convenience and functional foods in Europe due to fast-paced lifestyles and health-conscious consumers, along with the growing pharmaceutical industry presents growth opportunities for the gelatin market.

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Major vendors in the gelatin market include Gelita (Germany), Nitta Gelatin (Japan), Tessenderlo Group (Belgium), Darling Ingredients (US), Weishardt (France), Trobas Gelatine (Netherlands), India Gelatine & Chemicals (India), Lapi Gelatine (Italy), Junca Gelatines (Spain), Sterling Biotech Group (India), Italgelatine (Italy), and Gelnex (Brazil).

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