(MENAFN- GetNews) According to report published by Grand View Research, increasing awareness among food & beverage manufacturers regarding self-stabilization and emulsification properties of gelatin is expected to drive demand. Growing importance of microencapsulation in pharmaceutical applications owing to its control release of active ingredients and targeted drug delivery will promote the usage of gelatin in the near future. According to a report,'Gelatin Market Analysis By Raw Material (Pig Skin, Bovine Hides, Cattle Bones), By Function (Stabilizer, Thickener, Gelling Agent), By Application [Food & Beverage (Confectionery, Dairy Products, Meat & Poultry Products, Desserts, Beverage), Nutraceuticals, Pharmaceuticals, Photography, Personal Care] And Segment Forecasts To 2024, published by Grand View Research, Inc., The global gelatin market is expected to reach USD 4.08 billion by 2024. Increasing awareness among food & beverage manufacturers regarding self-stabilization and emulsification properties of gelatin is expected to drive demand. Growing importance of microencapsulation in pharmaceutical applications owing to its control release of active ingredients and targeted drug delivery will promote the usage of gelatin in the near future.
Key Takeaways from the report:
The global gelatin industry was estimated at 412.7 kilo tons in 2015 and is anticipated to be 651.7 kilo tons by 2024, growing at a CAGR of 5.3% from 2016 to 2024.
Bovine hide-based products are projected to foresee volume growth at 4.9% CAGR from 2016 to 2024. Easy water absorption and significant protein content are expected to promote the usage of the aforementioned raw material over the projected period.
Elevated levels of peptides in gelatin are supposed to support the incorporation of the product in personal care products, particularly hair care creams, and cosmetic lotions. Rising demand for organic personal care products in Germany, UK, and the U.S. in light of increasing awareness regarding the advantages associated with natural ingredients is expected to promote the use of gelatin over the next eight years.
North America accounted for 24.4% of the global volume market share in 2015. The presence of well-established meat manufacturers including Tyson Foods, JBF and Cargill in the U.S. on account of easy access to equipment and consumables is expected to have a favorable impact on the industry.
Increasing demand for frozen foods in emerging markets of Turkey, Brazil, and Saudi Arabia in light of new product launches by food & beverage manufacturers is expected to open new industry avenues over the projected period.
Key industry participants include PB Gelatin, Nikita AG, Rousselot, Capsugel Inc. and Sterling. New product development and the establishment of strategic partnerships with buyers are expected to remain critical success factors over the next eight years.
The global gelatin industry was estimated at 412.7 kilo tons in 2015 and is anticipated to be 651.7 kilo tons by 2024, growing at a CAGR of 5.3% from 2016 to 2024.
Bovine hide-based products are projected to foresee volume growth at 4.9% CAGR from 2016 to 2024. Easy water absorption and significant protein content are expected to promote the usage of the aforementioned raw material over the projected period.
Elevated levels of peptides in gelatin are supposed to support the incorporation of the product in personal care products, particularly hair care creams, and cosmetic lotions. Rising demand for organic personal care products in Germany, UK, and the U.S. in light of increasing awareness regarding the advantages associated with natural ingredients is expected to promote the use of gelatin over the next eight years.
North America accounted for 24.4% of the global volume market share in 2015. The presence of well-established meat manufacturers including Tyson Foods, JBF and Cargill in the U.S. on account of easy access to equipment and consumables is expected to have a favorable impact on the industry.
Increasing demand for frozen foods in emerging markets of Turkey, Brazil, and Saudi Arabia in light of new product launches by food & beverage manufacturers is expected to open new industry avenues over the projected period.
Key industry participants include PB Gelatin, Nikita AG, Rousselot, Capsugel Inc. and Sterling. New product development and the establishment of strategic partnerships with buyers are expected to remain critical success factors over the next eight years.
U.S. gelatin market, by application, 2013 2024 (Kilo Tons)
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Acetic Acid Market : Increasing consumption of PTA for manufacturing polyester coupled with rising application scope of polyester in the textile industry is likely to fuel acetic acid acetic acid market growth over the next seven years. Methyl Ethyl Ketone (MEK) Market : Increasing construction spending by governments particularly in China and India to meet the rising infrastructure needs has been driving the construction industry growth which in turn is anticipated to drive demand for adhesives, printing inks, plastics, paints, and coatings demand. Food & beverage industry was the largest application segment, consuming 119.6 kilo tons of gelatin in 2015. Rising awareness towards nutritional enrichment in foods & beverages is expected to promote the use of the product in a broad range of applications including confectionaries, dairy goods, desserts and meat products.
Grand View Research has segmented the global gelatin market by raw material, function, application and region:
Raw Material Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
Pig Skin
Bovine Hides
Cattle Bones
Others
Function Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
Stabilizer
Thickener
Gelling Agent
Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
Food & Beverage
-
Confectionery
-
Dairy Products
-
Meat & Poultry Products
-
Desserts
-
Beverage
-
Others
Nutraceuticals
Pharmaceuticals
Photography
Personal Care
Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013- 2024)
North America
Europe
Asia Pacific
Latin America
MEA
Explore gelatin market research database, Navigate with Grand View Compass , by Grand View Research, Inc.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist - U.S.A.
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Website: www.grandviewresearch.com/industry-analysis/gelatin-market-analysis
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