Northbrook, IL 60062 -- (SBWIRE) -- 10/16/2023 -- The global gelatin market is projected to exhibit a notable Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period, aiming to reach USD 5.1 billion by 2028 and USD 3.7 billion by 2023. This growth can be attributed to the wide-ranging applications, versatile functionalities, and clean-label appeal of gelatin. The surge in demand for "free-from" food products and the increasing health consciousness among consumers are key driving forces behind the expansion of the gelatin market.

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The nutraceutical and sports nutrition segments are witnessing a growing demand for gelatin, owing to its rich protein content. Notably, the pharmaceutical sector is anticipated to exhibit the fastest growth rate among all applications in the gelatin market by 2023.

Gelatin finds utility in medicines, hard and soft capsules, tablet coating, surgical sponges, microencapsulation, and various medical practices such as wound care, orthopedics, plastic surgery, dentistry, and cardiovascular procedures. The escalating instances of health and medical concerns are driving the heightened usage of gelatin in medical applications.

In Europe, health-conscious consumers are inclined to scrutinize product labels before making purchases. This heightened awareness has translated into increased demand for nutritious and clean-label foods. The dynamic combination of a fast-paced lifestyle, health-conscious consumer behaviors, and a burgeoning pharmaceutical industry in Europe is fostering demand for convenient and functional foods. This scenario presents growth prospects for the gelatin market.

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Additionally, the presence of key gelatin manufacturers such as Gelita A.G. (Germany), PB Leiner (Belgium), Trobas Gelatine B.V. (Netherlands), and Lapi Gelatine S.P.A. (Italy) in Europe drives market growth through strategic investments in product launches, collaborations, and acquisitions to cater to the escalating demands of the food, beverage, and pharmaceutical sectors.

Prominent players in the gelatin market landscape include Darling Ingredients (US), Tessenderlo Group (Belgium), Nitta Gelatin, Inc. (Japan), Gelita AG (Germany), Weishardt (France), Lapi Gelatine Spa (Italy), India Gelatine & Chemicals Ltd. (India), Trobas Gelatine B.V. (Netherlands), Sterling (India), Roxlor (US), Suheung (South Korea), and Ewald Gelatin GmbH (Germany). These industry leaders contribute to shaping the growth trajectory of the global gelatin market through innovation, strategic partnerships, and product offerings tailored to diverse industry needs.

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