— Allied Market Research
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATES, July 21, 2023/EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Bovine Gelatin Market by Powder, Nature, End Use Industry and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
The global bovine gelatin market size was valued at $2,811.5 million in 2020, and is expected to garner $6,153.8 million by 2030, registering a CAGR of 8.2% from 2021 to 2030. Capsule & Tablets form of products held the major share in 2020, and is likely to remain dominant throughout the forecast period.
The key players profiled in bovine gelatin market include Bernard Jensen, Darling Ingredients, Gelita, Gelnex, Great Lakes Wellness, Lapi Gelatine Spa, Nitta Gelatin Inc., Tessenderlo Group, Trobas Gelatine BV, and Weishardt.
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When collagens are partially hydrolyzed, gelatins are formed. In this process, collagen triple helices are broken down into individual strands. This molecular structure is soluble in hot water and jellifies when cooled. Further, hydrolysis of these gelatins leads to the formation of peptides. In this process, the individual strands of protein are broken down into small peptides of amino acids. These peptides are even soluble in cold water, easily digestible, and ready to be absorbed by human body.
Rise in awareness of consumers towards the health benefits associated with it coupled with rise in disposable income, alteration of lifestyle, and high adaptation of healthy diet are the major bovine gelatin market trends. Moreover, development of the food & beverage industry furthers augments the growth of the market. However, stringent food regulations, social and religious food norms, and increased awareness towards animal conservation is anticipated to restrict the bovine gelatin market growth.
The major factors that drive the growth bovine gelatin market are increase in nutraceuticals and pharmaceutical industries that manufacture drugs utilizing gelatin, increasing awareness about the consumption of nutrition rich food, and growing geriatric population. The high cost of gelatin, which is heavily utilized in the outer covering of capsules and presence of substitute components restrain the market growth.
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According to the bovine gelatin market analysis, the market is segmented into form, nature, end use industry, and distribution channel. Based on form, the market is segmented into powder, capsule & tablets, and liquid. Based on nature, the market is segmented into organic and conventional. The food & beverages, cosmetics and personal care, pharmaceuticals, and others are the end use industry studied in the report. Based on distribution channel, business to business and business to consumer are the two channel studied in the report. Furthermore, business to consumer are bifurcated into supermarket/hypermarket, specialty supplement stores, drug stores & pharmacies, and online stores.
Capsule & tablets form of segment held the major share in the market in 2020. The gelatin in capsules is safe and meets and often exceeds the required regulations for use in pharmaceutical or health & nutrition supplements.
Based on end use industry, food and beverages segment held the major bovine gelatin market share in 2020. It is popularly used in food & beverages, owing to its prominent gelling and stabilizing properties. Recently, there is increase in consumption of food products such as pasta, jellies, jams, and ice-creams. Gelatin is also used in the preparation of cakes, pastries, and desserts. This contributes to the growth of the bovine gelatin market.
Business to business segment witness a major growth rate in the market during the bovine gelatin market forecast period. Business to business includes physical store, selling directly through their own website, and door-to-door sales. In addition, in business to business channel is involved between the commercial transactions.
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Asia-Pacific is expected to grow significantly in terms of demand for food products such as pasta, noodles, jams, jellies, and ice creams, owing to the usages of gelatin as a stabilizer in these food items. Increase in demand for healthy food and food that is convenient drives the market growth of bovine gelatin, owing to rapidly increasing modernization and changing life styles. The demand for bovine gelatin in the region is also attributed to the increase in demand for cosmetics & personal care products, pharmaceutical products, and food & beverages. Furthermore, rise in demand for packaged foods in countries like such as the U.S. and Canada also increases the demand for bovine gelatin, wherein gelatin is used in packaged food to keep the food stabilized and increase its shelf life.
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Key findings of the study
By form, the capsule & tablets segment held the highest share, accounting for 56.1% of the global bovine gelatin market.
Based on nature, the organic segment witnessed a major growth rate of 12.8%.
Based on end use industry, food & beverage segment held the major share of 48.2% of the bovine gelatin market.
Based on distribution channel, business to business segment witnessed a major annual growth rate of 12.9%.
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