The global gelatin market size reached US$ 3.1 billion in 2021 and is likely to grow at a CAGR of 5.8% during the forecast period (2022-2032), totaling around $5.9B by the end of 2032, according to a report from Fact.MR.
Rising demand for fast food and functional foods, increased health consciousness, and application in diverse industries such as pharmaceutical and cosmetics are some of the key factors driving the gelatin market. Growing use of gelatin in culinary, medicinal, and nutritional solutions due to its unique behavioral features will further spur the sales.
Also, with rising health consciousness, demand for supplements is expected to remain high. Hence, key players are focusing on development of soft gel capsules to cater to the growing demand, facilitating the growth in the market.
Further, increased popularity of gelatin-based biomedical products to improve the texture and quality of hair is anticipated to boost demand. Consequently, sales are predicted to surge with the use of gelatin in the haircare as it reduces hair loss. Gelatin is also expected to be used effectively in the personal care industry as desire for hair care treatment products necessitates the growth.