Developing Countries in the Asia Pacific Region to Emerging High Growth Rates of Gelatin Marketby Mit K. SEO
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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Scope of the Report:
On the basis of source, the gelatin market has been segmented as follows:
• Bovine skin
• Bovine bone
• Fish & poultry
On the basis of function, the market has been segmented as follows (qualitative):
• Others (emulsifier, binding agent, fat replacer, and coating agent)
On the basis of region, the market has been segmented as follows:
• North America
• Asia Pacific
• RoW (South America, Africa, and the Middle East)
Pork is one of the widely used and most important sources for gelatin manufacturing, worldwide. It is widely used in the food & beverage industry for different application areas such as snacks, bakery & confectionery, and meat products. The demand for porcine gelatin is stimulated by factors such as its wide availability and BSE crisis in the European region. Furthermore, it is widely preferred across regions because of its manufacturing process as it requires a short period for pretreatment and generates lesser wastewater as compared to other sources.
On the basis of source, bovine skin is expected to be the fastest-growing segment. Gelatin sourced from bovine skin is considered beneficial for strong DNA and RNA strands. Furthermore, it also helps in healthy muscle growth and aids in energy production during workouts, leading to the growth of this segment.
• Growing Demand For Functional and Convenience Food and Beverage Products
• Increasing Application in the Pharmaceutical Industry
• Increase in Demand For Medical and Biomedical Applications
• Rising Demand For Clean-Label Products
• Growth in Demand For Naturally Sourced Ingredients
• Competition From Gelatin Alternatives
• Cultural Restrictions
• Use of Gelatin in Fortified Confectionery and Sports Nutrition Products
• Use of Gelatin as A Potential Biodegradable Packaging Material For Food Products
• Emerging Economies to Provide High-Growth Opportunities
• Increasing Incidents and Risks of Pathogenic Contamination Through Raw Materials
• Rising Prices and Scarcity of Raw Materials
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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.
Created on Jul 2nd 2020 08:16. Viewed 187 times.