SAN FRANCISCO, June 13, 2016 /PRNewswire/ --
The global gelatin market is expected to reach USD 4.08 billion by 2024, according to a new report by Grand View Research, Inc. 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.
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.
Browse full research report with TOC on "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" at: http://www.grandviewresearch.com/industry-analysis/gelatin-market-analysis
Further key findings from the study suggest:
- 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.
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
- Function Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013-2024)
- Gelling Agent
- Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
- Food & Beverage
- Dairy Products
- Meat & Poultry Products
- Personal Care
- Food & Beverage
- Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013- 2024)
- North America
- Asia Pacific
- Latin America
- Saudi Arabia
- North America
Browse related reports by Grand View Research:
- Ammonium Phosphate Market - http://www.grandviewresearch.com/industry-analysis/ammonium-phosphate-market
- Amaranth Seed Oil Market - http://www.grandviewresearch.com/industry-analysis/amaranth-seed-oil-market
- Locust Bean Gum Market - http://www.grandviewresearch.com/industry-analysis/locust-bean-gum-market
- Beeswax Market - http://www.grandviewresearch.com/industry-analysis/beeswax-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
SOURCE Grand View Research, Inc.