According to a new market report published by Transparency Market Research, Albany, NY, the global gelatin market was worth $1.77 billion in 2011 and is expected to grow at a CAGR of 6.75% from 2012 to 2018. The report, “Gelatin Market by Raw Material (Pig Skin, Bovine Hide, Bones and Others) for Food & Beverage, Nutraceuticals, Pharmaceuticals, Photography, Cosmetics and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018,” found that the global gelatin production was 348.9 kilo tons in 2011 and is expected to reach 450.7 kilo tons in 2018, growing at a CAGR of 3.73% from 2012 to 2018.
Increasing applications in food & beverage, pharmaceuticals and nutraceuticals industries are expected to fuel the growth of the gelatin market over the forecast period. Growing awareness among the health conscious people and rising aged population is expected to bolster the gelatin market in the coming years. However, prevalence of cultural choices across the globe, and impending regulatory issues are posing a challenge to the market.
Pig skin was utilized for manufacturing gelatin on a large scale, and accounted for over 40% of the overall production volume in 2011. The food & beverage application segment dominated the overall market accounting for 28.65% of the gelatin volume in 2011. Nutraceuticals and pharmaceuticals followed food & beverages in terms of market share and are expected to grow at a CAGR of 3.69% and 3.66% from 2012 to 2018 respectively.
Europe dominated the global gelatin market in terms of volume, accounting for 41.33% of the overall market in 2011. Germany, France, Belgium, and the UK—the key regional markets in Europe—are expected to witness a surge in gelatin demand as a result of a favorable regulatory scenario and high consumer awareness. North America gelatin market is expected to reach 103.8 kilotons by 2018 while Asia Pacific gelatin market is expected to grow at a CAGR of 7.08% from 2012 to 2018.
According to the report, some of the key players that deal in gelatin include, Capsugel Inc., Catalent Pharma Solutions, Gelita AG, Nitta Gelatin Inc., Norland Products Inc., PB Gelatins, Rousselot S.A.S, Roxlor LLC, Sterling Gelatin, and Weishardt Group. The report provides an overview of these companies followed by their financial revenue, business strategies and recent developments.
Global Gelatin Market Projected to Reach $2.79 Billion in 2018