LONDON--(BUSINESS WIRE)--The global gelatin market size is expected to grow by 248.81 thousand MT during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth. Request a free sample report
The demand for functional and convenience foods is increasing significantly due to lifestyle changes and increasing disposable incomes. Convenience food or processed food is commercially prepared food that requires minimum or no further preparation in order to be consumed. This category includes packaged food or meals, canned food, frozen food, preserved food, and instant products. The global packaged food products market is expected to witness significant growth at a CAGR of 5%-6% over the forecast period. Gelatin is a widely-known compound used in the preparation of F&B products. Thus, the growing preference for convenience food and beverages is expected to drive the growth of the gelatin market during the forecast period.
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As per Technavio, the growing importance of microencapsulation will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Gelatin Market: Growing Importance of Microencapsulation
The growing importance of microencapsulation is expected to be one of the major factors driving the growth of the market. Microencapsulation is a procedure in which a coating material is used to enclose small particles. In microencapsulation, the coating material works as a barrier between the wall and core material. It helps in preserving the physiochemical and biological properties of the core material. Gelatin is widely used for microencapsulation in pharmaceutical applications. It is used as an encapsulating material for vegetable, essential, and marine oils. Gelatin helps in conserving the biological activity and shelf-life of the core material. It is generally used in encapsulation of fish oils, microalgae oils, oregano oil, mint oil, basil oil, lavender oil, olive oil, clove oil, tea tree oil, and camphor oil. In addition, microencapsulation is also used in applications such as food and nutraceuticals. The growing importance of microencapsulation for controlled release is likely to support market growth.
“Factors such as the growing demand for gelatin in the nutraceutical industry, rising concerns regarding preventive healthcare and an increase in the disposable income of the consumers will have a significant impact on the growth of the gelatin market value during the forecast period,” says a senior analyst at Technavio.
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Gelatin Market: Segmentation Analysis
This market research report segments the gelatin market by material (pig skin, bovine hides, bones, and others), application (food and beverages, nutraceuticals, pharmaceuticals, photography, personal care, and others), and geography (Europe, North America, APAC, MEA, and South America).
The European region led the gelatin market in 2019, followed by North America, APAC, MEA, and South America respectively. During the forecast period, the European region is expected to register the highest incremental growth due to factors such as the presence of established manufacturers, and the increasing demand for gelatin in industries such as personal care and F&B.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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