Demand for #gelatin is growing in developing countries for various applications
The global gelatin market is predicted to grow at a CAGR of 6.6% during the forecast period and reach USD 5.1 billion by 2028 and USD 3.7 billion by 2023.
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Gelatin is a widely used ingredient in various food products, including snacks, desserts, drinks, and dairy items. The market growth is driven by increasing demand for gelatin in developing countries due to rising disposable income, changing consumer preferences, and growing demand for convenience foods. Technological advancements, consumer interest in natural and healthy products, and an increase in R&D activities are also contributing to market growth.
The pharmaceutical sector is expected to spearhead this expansion, experiencing the swiftest growth. The market’s upward trajectory is driven by surging demand for “free-from” food products, coupled with an escalating awareness of health among consumers. Notably, the ric