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Gelatin Market to Cross US$ 5.9 Billion by 2032 as Application in Food Industry Rises by 5.8%
NEW YORK , Sept. 21, 2022 /PRNewswire/ -- The global gelatin market size reached US$ 3.1 billion in 2021 and is likely to grow at a CAGR of 5.8% during the forecast period (2022-2032), totaling around US$ 5.9 billion by the end of 2032.
Rising demand for fast food and functional foods, increased health consciousness, and application in diverse industries such as pharmaceutical and cosmetics are some of the key factors driving the gelatin market. Growing use of gelatin in culinary, medicinal, and nutritional solutions due to its unique behavioral features will further spur the sales.
Also, with rising health consciousness, demand for supplements is expected to remain high. Hence, key players are focusing on development of soft gel capsules to cater to the growing demand, facilitating the growth in the market.
Further, increased popularity of gelatin-based biomedical products to improve the texture and quality of hair is anticipated to boost demand. Consequently, sales are predicted to surge with the use of gelatin in the haircare as it reduces hair loss. Gelatin is also expected to be used effectively in the personal care industry as desire for hair care treatment products necessitates the growth.
With rapid expansion of food industry, demand for gelatin is expected to witness an upsurge due to its wide variety of applications and strong nutritional value. Gelatin is a highly nutritious and useful protein source that may be added to food and beverage items. Hence, sales of gelatin are projected to surge as need for nutrient-dense foods and beverages grows. Gelatin is a naturally occurring component that comes from the connective tissues of animals. Thus, the growing demand for clean label products will also fuel the expansion of the global gelatin market.
Key players in the gelatin market are focusing on introducing new products and develop purified gelatin to adhere to the stringent regulations. They are also investing in research and development activities to expand their product portfolio and gain strong foothold in the industry.
For instance,
In the latest study, Fact.MR offers a detailed study on global gelatin market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of gelatin through detailed segmentation as follows:
: Growing awareness of plant-derived goods and health consciousness are expected to have an influence on the vegan gelatin market over the projected period. Demand for vegan gelatin is growing as a result of a wide variety of customers' increasing acceptance of vegan goods.
: The global softgels dietary supplements market is expected to showcase growth at a CAGR of 7% between 2022 to 2032. Favorable government promotion and initiatives with associated health benefits is expected to provide tremendous growth opportunities for softgels dietary supplements market.
: Peptones, in general, have a number of beneficial qualities, including anti-cancer, anti-inflammatory, and anti-hypertensive, which is expected to positively affect demand. Technology development is a major trend that is becoming more and more popular in the gelatin industry. Gelatin may be used in a variety of applications due to AI integration.
Global OTC Vitamin & Dietary Supplements landscape is expected to reach a valuation of US$ 181 Billion by 2032. The market for OTC Vitamin & Dietary Supplements in the U.S will likely expand at a 38% CAGR.
: Adults are anticipated to lead the consumption of powder dietary supplements and account for a dominant market share. The global market is expected to expand at a CAGR of 7.7% during 2022-2032.
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