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The numerous health benefits offered by fish gelatin and the growing adoption in the pharmaceutical and food industries are fueling the growth of the global fish gelatin market. However, strict food regulations and a lack of awareness about animal-derived nutritional supplements are hindering market growth. On the other hand, the surge in the use of cosmetics and the demand for special and functional products are opening up new opportunities in the coming years.
The hospitality sector, which includes fast food restaurants and full-service restaurants, has closed a significant portion of stops due to restrictions imposed by governments in many countries. The shutdown affected sales of fish gelatin used in confectionery. In addition, trade restrictions in some countries have affected logistics and transport operations. This, in turn, affects the market. Manufacturing activity in application areas such as cosmetics was hampered. It also reduces the need for fish gelatin. The report provides detailed segmentation of the global Fish Gelatin market by product type, application, and region.
In terms of product type, the food segment held the largest share in 2020, accounting for almost three-fifths of the total market share, and is expected to maintain its leading position during the forecast period. However, the pharmaceutical quality segment is expected to grow at a CAGR of up to 6.7% from 2021 to 2030.
Based on filings, the food and beverage segment accounted for the largest share in 2020, accounting for almost two-fifths of the global fish gelatin market, and is expected to maintain its leading position throughout the forecast period. However, the supplements segment is estimated to experience the highest CAGR of 8.1% from 2021 to 2030.
Regionally, Europe made the largest contribution in 2020, accounting for almost two-fifths of the total share, and is expected to maintain its dominant position in terms of revenue until 2030. However, the Asia-Pacific region is expected to register the fastest CAGR of 7.9% over the forecast period.
Key players in the global fish gelatin market analyzed in the study include Foodchem International Corporation, Kenney & Ross Limited (K&R), Jellice Gelatin & Collagen, Nitta Gelatin, Lapi Gelatin SPA, Norland products Inc., NA Inc., ST Foods, Nutra . Food Ingredients, Weishardt Holding SA and Xiamen Gelken Gelatin Co., Ltd.