According to a new report published by Allied Market Research, titled, “fish gelatin market by product type, application: global opportunity analysis and industry forecast, 2021–2030,” The global fish gelatin market size was valued at $276.1 million in 2020, and is projected to reach $496.3 million by 2030, registering a CAGR of 6.1% from 2021 to 2030. Fish gelatin is obtained from bones & skin of different types of fish such as catfish, tuna, tilapia, salmon, hake and others. The rise in desires of consumers for leading active lifestyle, maintaining mobility and remaining healthy at all ages drive their concern toward the awareness of joint and bone health. Thus, this encourages them to seek for dietary supplement made from natural ingredients that can provide them with essential nutrients for their body keeping their joints and bones healthy.
Fish gelatin is used as an ingredient in the food industry. It is used for improving chewiness, foam stabilization, and texture of confectionery product, in dairy products. It is also used as texturization and stabilization agent. Further, it is used in low-fat spreads for providing creaminess, fat reduction, and mouthfeel. In addition, it acts as a binding agent for ingredients used in bars and also enhances the softness and flexibility of nutritional bars. Moreover, the rise in concern of physical appearance among the consumers, who seek for natural products for their beauty and health has encouraged manufacturers of the cosmetics industry to prefer fish gelatin to use it as a gelling ingredient in face cream, body lotions, shampoo, hair spray, sunscreens and others. This is opportunistic for the growth of the market in the future.
The outbreak of coronavirus has negatively impacted the fish gelatin industry along with all stages of supply chain and value chain. During this COVID-19 outbreak, declaration regarding the lockdown in various countries of the world has affected the production of food & beverages sector. This in turn has negatively impacted the growth of the fish gelatin market in terms of sales and revenue generation.
The global fish gelatin market is segmented are categorized into product type, application and region. By product type the market is categorized into food grade and pharma grade. By application, it is divided into food & beverages, pharmaceuticals, nutraceuticals, cosmetics and others. Region wise, the market is analyzed across North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China, Japan, India, Australia & New Zealand, South Korea, ASEAN and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Argentina United Arab Emirates and Rest of LAMEA).
Key findings of the study
- By product type, the food grade segment accounted for the highest share in 2020, growing at a CAGR of 5.6% from 2021 to 2030.
- By application, the food & beverages segment accounted for the highest fish gelatin market share in 2020, growing at a CAGR of 5.3% from 2021 to 2030.
- By region, Europe occupied the maximum share in the market in 2020 and is expected to be the dominating segment during the fish gelatin market forecast period.
Companies can operate their business in highly competitive market by launching new products or updated versions of existing products. Agreement with key stakeholders is expected to be a key strategy to sustain in the market. In the recent past, many leading players opted for various strategies to strengthen their foothold in the market. To understand the key fish gelatin market trends, strategies of leading players are analyzed in the report. Some of the key players in the fish gelatin market analysis includes Foodchem International Corporation, Jellice Gelatin & Collagen, Kenney & Ross Limited (K&R), Lapi Gelatine SPA, Nitta Gelatin, NA Inc., Norland products Inc., Nutra Food Ingredients, ST Foods, Weishardt Holding SA and Xiamen Gelken Gelatin Co., Ltd.