Increasing healthcare spending coupled with growing demand from various end-use applications is expected to drive gelatin market growth. The market is characterized by high demand from food processing and pharmaceutical industries. Growing food processing industry coupled with increasing gelatinous food products demand including candies, ice creams, yogurts are major factors responsible for market growth. Growth of pharmaceutical industries owing to increasing healthcare spending coupled with approvals from FDA & IMA for gelatin to be used in medical drugs and food additive has fuelled the market growth. Increasing awareness for naturopathy and dietary supplements has a positive impact on the market growth.
Growing disposable income among the urban as well as suburban populations of emerging economies such as China, India, Brazil and South Africa have also led to the rise in demand for high end products.High food grades price of and high energy supplements importing cost may restraint gelatin market growth. However, development of niche applications such as photography along with easier extraction techniques is expected to provide future opportunities for market participants.
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On the basis of raw materials the market may be segmented into pig skins, bovine hides and animal bones. Gelatin may also be extracted from fish skins and bones as well as from sheep fats. Pig skin emerged as the largest raw material segment and accounted for over 40% of the global market share in 2013. Low production cost along with short production cycle has been the major factor responsible for high preference for pig skin as a raw material in the global market. End products produced from pig hides are used in capsules, binders, thickeners, stabilizers and texturizers.
In terms of market share, pig hide was followed by animal bone extracts. Bone gelatin market is expected to have high growth owing to increasing application in food and pharmaceutical industries. Fish skins and bones is gaining popularity in the global market owing to the cultural and religious concerns associated with other raw materials.
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