Exploring High-Growth Prospects in the Global Gelatin Market: Focus on Emerging Economies
The global gelatin market is slated to reach USD 5.1 billion by 2028 and USD 3.7 billion by 2023, with a noteworthy CAGR of 6.6% during the forecast period. Driving this growth are its versatile applications, manifold functionalities, and clean-label attributes. The surge in health consciousness among consumers and the escalating demand for "free-from" food products further propel the gelatin market. Additionally, the high protein content in gelatin has sparked increased demand from the nutraceutical and sports nutrition segments.
Factors Catalyzing Market Development in Emerging Economies
Changing lifestyles, evolving food habits, the adoption of Western dietary patterns, and an upsurge in demand for functional ingredients in food products have spurred the development of the gelatin market in developing economies. Regions such as the Asia Pacific, South Africa, the Middle East, South America, and Eastern European countries offer promising opportunities for gelatin market growth.
European Market Dynamics
Europe, boasting a market share of USD 1.3 billion in 2023, is expected to grow at a CAGR of 6.1% during the forecast period (2023-2028). The robust growth of Europe's food processing industry has bolstered the gelatin market, fueled by numerous food and beverage companies and a significant consumer base. The ample availability of raw materials and the European population's reliance on these sources serve as key drivers for gelatin market expansion in the region.
Market Landscape and Key Players
In Europe, the presence of leading gelatin manufacturers such as Gelita AG (Germany), PB Leiner (Belgium), Trobas Gelatine B.V. (Netherlands), and Lapi Gelatine S.P.A. (Italy) is expected to drive market growth. These companies invest in product launches, joint ventures, and acquisitions to meet the growing demand across the food, beverage, and pharmaceutical sectors. Key players in the global gelatin market include Darling Ingredients (US), Tessenderlo Group (Belgium), Nitta Gelatin, Inc. (Japan), Weishardt (France), India Gelatine & Chemicals Ltd. (India), Sterling (India), Roxlor (US), Suheung (South Korea), and Ewald Gelatin GmbH (Germany).
https://mnmblog.org/gelatin-market-future-demands-and-forecast-by-2028.html