TMR Analyzes Impact of Outbreak of COVID-19 on Gelatin Market
Gelatin is a colorless, brittle, and water soluble substance. It has a high molecular weight and is rich source of protein. The protein is derived from the collagen present in different animals such as fish, pig, sheep, and bovines among others. Increasing applications of gelatin in the food and beverage industry is one of the key factors driving the overall growth of the global market.
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Global Gelatin Market – Notable Developments
The competitive landscape of the global gelatin market is quite consolidated in nature due to the domination of a few leading companies. The key players in the global market are expected to adopt aggressive marketing strategies such as mergers, acquisitions, and tactical partnerships & alliances in order to strengthen their business portfolio. In addition to this, the key companies in the global gelatin market are also expected to focus on expanding their geographical outreach in order to gain a competitive advantage over their rivals by tapping into previously unexplored regions and areas.
Some of the key companies in the global gelatin market are Rousselot SAS, Weishardt Group, Sterling Gelatin, Catalent Pharma Solutions, PB Gelatins, Roxor LLC, and Nitta Gelatin Inc., among others. Rousselot SAS has been the largest manufacturer in the global market.
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Some of the key market developments are noted below:
- In Marhc 2018, Nitta Gelatin announced the launch of new pharmaceutical gelatin called DRG Gelatin. The product was designed specifically to inhibit cross linkage reactions and enhance dissolution in the soft capsule application.
Global Gelatin Market – Drivers and Restraints
There are myriad of factors that are currently driving the development of the global gelatin market. One of the key driving factors for the market development has been the variety of applications of gelatin in food industry. Gelatin is used to improve the flexibility, strength, and consistency of several products. Moreover, it is also used as stabilizer for wide range of dairy products. It is generally available in granular powdered. However, in some major European countries it is available in sheet form.
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Global Gelatin Market – Geographical Segmentation
The global market for gelatin has been segmented into five key regions viz. North America, Latin America, Middle East and Africa, Asia Pacific, and Europe. Of these, currently, the global market has been dominated by the regional segment of Europe. The regional segmented accounted for a large chunk of the overall market share in 2018 and is expected to continue to dominate the global market over the course of the given period of forecast. The growth of the Europe gelatin market is primarily attributed to the implementation of strict regulatory mandates across region with respect to the control of Bovine Spongiform Encephalopathy. France and Germany are the biggest consumers of gelatin of Europe and thus are chief contributors for the market growth.
After Europe, the regional segment of North America is next in line in terms of volume of manufactured gelatin. On the other hand, the regional segment of Asia Pacific is expected to witness a highly promising rate of growth in the coming years of the forecast period. China in particular is expected to emerge as a chief contributor of growth of the Asia Pacific.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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