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Steady Growth leads Gelatin Market Value to $4.08 Billion By 2024

14 Jan 2018

The global gelatin market size was recorded at 412.7 kilo tons in 2015.  It is expected to reach 651.7 kilo tons (approx. USD 4.08 billion) by 2024, according to a new report by Grand View Research, Inc. The increasing application of the product in food & beverage and pharmaceutical applications on account of exhibiting excellent stabilizing characteristics and good binding features is expected to remain a favorable factor for growth over the forecast period.

 

Increasing awareness among food & beverage manufacturers regarding self-stabilization and emulsification properties of gelatin is expected to drive demand. Growing importance of microencapsulation in pharmaceutical applications owing to its control release of active ingredients and targeted drug delivery will promote the usage of gelatin in the near future.

 

The product is majorly used as a gelling agent in numerous applications including food & beverage, nutraceuticals, healthcare, personal care, and photography. Increasing demand for convenience foods in emerging economies including China, India, and Middle East countries is expected to promote the usage of the product as a functional ingredient in confectioneries.

 

 

U.S. gelatin market, by application, 2013 – 2024 (Kilo Tons) - Source: Grand View Research Inc

 

Food & beverage industry was the largest application segment, consuming 119.6 kilo tons of gelatin in 2015. Rising awareness towards nutritional enrichment in foods & beverages is expected to promote the use of the product in a broad range of applications including confectionaries, dairy goods, desserts and meat products.

 

North America accounted for 24.4% of the global volume market share in 2015. The presence of well-established meat manufacturers including Tyson Foods, JBF and Cargill in the U.S. on account of easy access to equipment and consumables is expected to have a favorable impact on the industry.

 

Increasing demand for frozen foods in emerging markets of Turkey, Brazil, and Saudi Arabia in light of new product launches by food & beverage manufacturers is expected to open new industry avenues over the projected period.

Market Insights

Comesa(The Common Market for Eastern and Southern Africa) consists of about 18 countries, including Egypt, which provides the added benefits of no custom fees when trading certain products. With the current trade agreement between Egypt and Jordan in effect –there are no custom duties added on this product, resulting in lower market prices.

 

Recommendation

It is highly suggested to book the required quantities promptly to lock the current price and secure the desired stock.

 

 

 

 

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