Widening Applications of the Gelatin across Pharmaceuticals to Propel Growth of the Gelatine Market
The usage of the gelatin is expanding across the pharmaceutical applications due to the backing of good binding features coupled with exceptional stabilizing characteristics. This widening application is estimated to be a favorable factor driving the growth of the global gelatin market over the forecasted period. Also, the factors such as growing disposable income coupled with the growing preference of the ready-to-eat food products and soft drinks are propelling adoption of the gelatin market.
Acumen estimates that the global gelatine market is expected to attain a value of US$ 4.3 bn by the end of 2025 and is expected to swell with a CAGR of 7.4% over the forecast period from 2018 to 2025. This growth can be attributable to the growing applications across nutraceuticles, healthcare, and photography.
Here are some other factors boosting the growth of the gelatine market:
- Expanding interest in confectionaries and sweets across developing countries such as India, China, and the Middle East and Africa is propelling the growth of the gelatine market. Applications of gelatin and widening scope across pharmaceuticals especially for homeostasis and blood volume substitutes are boosting demand of the gelatin. The aforementioned factors are primarily propelling the growth of the global gelatin market.
- The edible gelatin segment is expected to account for 60% of the share in the global volume in 2017 owing to growing demand for the gelatin from sports drinks and soft drinks. However, pharmaceuticals segment accounted for the share of 25% in 2017.
- North America dominated the overall market owing to growing advancement in the pharmaceuticals business especially in the US and Canada and growing expenditure on adopting advanced technologies. In addition, polysaccharides have applications in the medical services as it is edible and have hydrolyzing enzymatic properties. The growing consumption of the polysaccharides is boosting the growth of the gelatin market.
- Some of the players operating in the global gelatin market are Rousselot, Gelita, Nitta Gelatin NA INC., Sterling Gelatin, Weishardt Group, and Ewald Gelatine.
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