The Gelatin Market Is Set To Grow With Its Rising Demand In The Field Of Photography
Gelatin Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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What Is the Expected Market Size and Growth Rate of the Global Gelatin Market in 2024?2
The global gelatin market has witnessed steady growth in recent years and this trend is set to continue. The market size is projected to increase from $2.85 billion in 2023 to $3.08 billion in 2024 at a compound annual growth rate CAGR of 8.2%. This growth during the historical period can be attributed to traditional uses of gelatin in food, pharmaceutical, and cosmetic industries, an increased demand for gelatin as a gelling agent and stabilizer, awareness regarding the health benefits and nutritional value of gelatin, and expansion of the confectionery and bakery industries. Additionally, pharmaceutical applications in capsules, coatings, and formulations have boosted the market size.
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What Are the Projected Growth Rate and Market Size for the Next Few Years?
The gelatin market size is expected to see robust growth in the upcoming years. The market is forecasted to reach $4.15 billion in 2028 at a compound annual growth rate CAGR of 7.7%. This growth in the forecast period can primarily be attributed to the adoption of gelatin in clean label and natural ingredient formulations, emphasis on sustainable sourcing and production of gelatin, research and development in gelatin-based biodegradable packaging, and the demand for gelatin in sports nutrition and joint health supplements. The acceptance of gelatin in 3D printing and tissue engineering is also part of this projected rise. Major trends in the forecast period include halal and kosher-certified gelatin, collagen peptides and beauty supplements, functional gummies and supplements, vegan and plant-based gelatin alternatives, and microencapsulation with gelatin.
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Can the Emergence of Gelatin in Photography Prop up the Gelatin Market?
There is a rising demand for gelatin in the field of photography which is expected to act as a key market driver over the next few years. The unique light-sensitive swelling capacity of gelatin in photographic baths, essential for the chemical reactions during the processing of photographic materials, is indispensable. According to the US Bureau of Labour Statistics, the employment of photographers is projected to grow 4% from 2022 to 2032, with an estimated 13,900 new openings each year. This growing enthusiasm for photography is likely to fuel the growth of the gelatin market.
Who Are Some Key Industry Players in the Gelatin Market?
The gelatin market features major companies such as Darling Ingredients Inc., Trobas Gelatine BV, Junca Gelatines SL, Tessenderlo Group, Nitta Gelatin India Ltd., Lapi Gelatine, Rousselot, Gelita AG, Sterling Gelatin, Norland Products Inc., Capsugel Inc., Gelken Gelatin Co Ltd., Jiliding Marine Biotech Co Ltd., Ajinomoto Co Inc., Baotou Dongbao Bio Tech Co Ltd., Hangzhou Qunli Gelatin Chemical Co Ltd., Italgelatine SpA, PAN Biotech GmbH, Shanghai Al-Amin Biotechnology Co Ltd., India Gelatine & Chemicals Ltd., Roxlor LLC, Suheung Capsule Co Ltd., Ewald Gelatin GmbH, PB Leiner, SAS Gelatines Weishardt, Bernard Jensen Products Inc., Kubon Gelatin Pte Ltd., Gelnex Gelatin, Sterling Biotech Ltd., and Rousselot SAS.
Which Technological Developments Are Creating Opportunities in the Gelatin Market?
Technological advancements, particularly the integration of artificial intelligence AI, provide an opportunity for diversifying the use of gelatin in various applications. For instance, in the Biomolecular Engineering Lab at UCIBIO in Lisbon Nova School of Science and Technology FCT-NOVA, Cecilia's team showcased an example of intelligent gelatin, an innovative engineered material that mimics the sense of smell, thus opening potential applications in clinical diagnostics, soft bioelectronics, wearable devices, and robotics.
How Is the Global Gelatin Market Segmented?3
The gelatin market can be segmented as follows:
1 By Raw Material: Pig Skin, Bovine Hides, Cattle Bones
2 By Function: Thickener, Stabilizer, Gelling Agent
3 By Application: Food and Beverages, Nutraceuticals, Pharmaceuticals, Personal Care, Photography, Other applications.
Regional Insights: Which Region Serves as the Largest and Fastest-Growing Market for Gelatin?
Europe was the largest region in the gelatin market in 2023 and is expected to continue to be the fastest-growing region in the forecast period. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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