- Gelatin is a collagen and derived from animal hides and bones. It is obtained from alkali or acid manufacturing. Gelatin is commonly used as an emulsifier and gel. With health-conscious people on the rise, the need for gelatin as an energy supplement has increased. High import taxes levied by the government could hamper the gelatin market.
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The market volume was estimated at about 373.3 kilo tons (KTs) in 2013. It would grow at around 3.8% CAGR from 2014 to 2020 (forecast phase), to attain 485.6 KTs by 2020. The market expects to produce revenues worth USD 3.3 billion by 2020. Small production cycles and costs will also propel the gelatin market.
The market is divided on the basis of production sources, applications, and geographies. Production sources comprise bovine hides, sheep skin, bones, fish bones, and pig skin. Pig skin accounted for 40% of gelatin production in 2013. Bovine hides and bones were the second largest source, together producing 215 KTs of gelatin that year.
Bones will undergo around 4% CAGR during the forecast phase. This would happen due to their demand in pharmaceutical and food sectors. They also accounted for more than 29% of the overall production in 2013. Photography, cosmetics, pharmaceuticals, nutraceuticals, and food & beverages are the applications. Food & beverages occupied 28% of the total demand in 2013.
Gelatinous foods like candies, yogurts, and ice creams raise the profits of gelatin market. This is mainly due to demand for gelatin-induced sports drinks. These drinks supply proteins, carbohydrates, & electrolytes to humans and are preferred over conventional ones. Nutraceuticals captured about 25% of the overall demand in 2013. They will reach a volume of 124.5 KTs by 2020.
With regards to geographies, Europe dominated the gelatin market in 2013. Demand from its sectors of food & beverages and cosmetics will spur Europe. Asia Pacific is anticipated to have the potential for highest growth, with a CAGR of 4.3% in the future. Weishardt Group, Rousselot, PB Gelatin (Tessenderlo), Gelita AG, and Sterling Gelatin are the five major gelatin companies worldwide. They jointly occupied over 70% share in the gelatin market in 2013.
Information Source: Grand View Research
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