Industry Insights
Increasing healthcare spending coupled with growing demand from
various end-use applications is expected to drive gelatin market growth.
The market is characterized by high demand from food processing and
pharmaceutical industries. Growing food processing industry coupled with
increasing gelatinous food products demand including candies, ice
creams, yogurts are major factors responsible for market growth.
Growth of pharmaceutical industries owing to increasing healthcare
spending coupled with approvals from FDA & IMA for gelatin to be
used in medical drugs and food additive has fuelled the market growth.
Increasing awareness for naturopathy and dietary supplements has a
positive impact on the market growth. Growing disposable income among
the urban as well as suburban populations of emerging economies such as
China, India, Brazil and South Africa have also led to the rise in
demand for high end products.
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High food grades price of and high energy supplements importing
cost may restraint gelatin market growth. However, development of niche
applications such as photography along with easier extraction techniques
is expected to provide future opportunities for market participants.
Raw Material Insights
On the basis of raw materials the market may be segmented into pig
skins, bovine hides and animal bones. Gelatin may also be extracted from
fish skins and bones as well as from sheep fats. Pig skin emerged as
the largest raw material segment and accounted for over 40% of the
global market share in 2013. Low production cost along with short
production cycle has been the major factor responsible for high
preference for pig skin as a raw material in the global market.
End products produced from pig hides are used in capsules, binders,
thickeners, stabilizers and texturizers. In terms of market share, pig
hide was followed by animal bone extracts. Bone gelatin market is
expected to have high growth owing to increasing application in food and
pharmaceutical industries. Fish skins and bones is gaining popularity
in the global market owing to the cultural and religious concerns
associated with other raw materials.
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Application Insights
Food & beverage was the largest application segment and accounted
for over 28% of the global market demand in 2013. Increasing demand for
gelatinous sports drinks, desserts such as ice creams, candies and
yogurts have also fuelled the market demand for food & beverage
applications. Demand from nutraceuticals also had a major share in the
global market. Increasing demand for high protein and low fat food
supplements owing to growing health awareness has fuelled gelatin market
demand over the last few years. The market is expected to have a
positive outlook for other niche applications such as photography and
cosmetics.
Regional Insights
Europe accounted for over 40% of the market share hence dominating
the global gelatin market in 2013. Major demand was from countries such
as UK, Germany, France, Netherlands and Italy owing to the expanding
food industry in these regions. Additionally, the market in this region
is characterized by high demand for gelatinous nutraceuticals. The trend
is anticipated to continue over the next few years.
North America and Europe are moderately mature markets and are
expected to project fairly low growth rates over the next six years.
Asia Pacific is anticipated to have the fastest growth rates, estimated
to grow at around 4% from 2014 to 2020. Increasing disposable income of
consumers coupled with growing end-use industries is expected to drive
the market in this region over the forecast period.
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