The bovine gelatin market is primarily used as a binding and thickening agent in various food products such as confectionery, dairy products, desserts, and bakery items. It is derived from collagen extraction process of cattle bones and hides. Bovine gelatin provides texturing properties and acts as an emulsifier, stabilizer, coating agent, and foaming agent in many food and pharmaceutical applications.
The global bovine gelatin market is estimated to be valued at US$ 2.23 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the bovine gelatin market are Nitta Gelatin, Inc., Lapi Gelatin S.p.A., Jellice Pioneer Europe B.V., Darling Ingredients Inc., Gelita AG, Merck KGaA, Lonza Group, Bernard Jansen Products Inc., Luoyang Leston Import and Export Trade Co., Ltd., Nutra Food Ingredients, LLC, Lapi Gelatine, Foodchem International Corporation, Foodmate Co., Ltd., YASIN Gelatine, Vizag chemical, and Vikranth Chemical Corporation. The increasing demand for gelatin in various industries such as food and beverage, pharmaceutical, nutraceutical, cosmetic, and photography is expected to boost the bovine gelatin market growth over the forecast period.
The growth in consumption of processed and packaged food owing to changing lifestyle and rising disposable income in developing countries is fueling the Bovine Gelatin Market Demand. Manufacturers are also focusing on strategic expansions and collaborations to strengthen their market position and expand the bovine gelatin market globally.
Market Key Trends
Sustainability is one of the major trends being witnessed in the bovine gelatin market. Manufacturers are focusing on developing gelatin from sustainable and natural sources to cater to the growing demand for clean label and vegan products. They are using recycled cattle bones and hides to produce gelatin through environment-friendly processes. The adoption of sustainable production practices is expected to boost the bovine gelatin market growth over the coming years.
Porter’s Analysis
Threat of new entrants: The Bovine Gelatin Market Size And Trends is moderately concentrated and difficult for new players to enter due to high capital investments and established supply chains of existing players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes like fish and porcine gelatins. However, demand for bovine gelatin is relatively inelastic.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of buyers and supply of raw materials from cattle bones and hides. Long term contracts reduce dependency on single supplier.
Threat of new substitutes: Substitutes like carrageenan and modified food starch pose low threat as they are not exact substitutes and have limitations in applications like pharmaceuticals and nutraceuticals.
Competitive rivalry: Intense competition exists among established players to gain market share and protect margins. Players differentiate through innovation, quality, service and brand value.
Geographical regions of concentration
North America accounts for the largest share in the global bovine gelatin market both in terms of value and volume. This is attributed to increasing consumption of nutraceuticals, food & beverages and pharmaceuticals where bovine gelatin finds wide applications.
Fastest growing region
Asia Pacific is poised to be the fastest growing region during the forecast period backed by rising health awareness, growing middle class and increasing disposable incomes in countries like China and India. Rapid growth of end use industries will drive demand for bovine gelatin in Asia Pacific region.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile