According to the report, the global fish gelatin market generated $276.1 million in 2020, and is estimated to reach $496.3 million by 2030, witnessing a CAGR of 6.1% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Numerous health benefits offered by fish gelatin and rise in adoption from the pharmaceutical and food & beverages industries drive the growth of the global fish gelatin market. However, stringent food regulations towards animal-origin food additives and lack of awareness hinder the market growth. On the other hand, surge in usage in cosmetics and demand for specialty and functional food products present new opportunities in the coming years.
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Covid-19 Scenario:
- Owing to lockdown restrictions imposed by governments of many countries, there has been notable proportion of shutdown of the hospitality industry, including quick service restaurants and full-service restaurants. This closure impacted the sales volume of fish gelatin that is used in confectionery products.
- In addition, trade restrictions in several countries impacted the logistics and transportation operations. This, in turn, affected the market.
- Production activities in application sectors such as cosmetics have been hampered. This also reduced the demand for fish gelatin.
The report offers detailed segmentation of the global fish gelatin market based on product type, application, and region.
Based on product type, the food grade segment held the highest share in 2020, contributing to nearly three-fifths of the total market share, and is expected to maintain its leadership status during the forecast period. However, the pharma grade segment is projected to portray the highest CAGR of 6.7% from 2021 to 2030.
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Based on application, the food & beverages segment accounted for the highest share in 2020, contributing to nearly two-fifths of the global fish gelatin market, and is projected to maintain its lead position throughout the forecast period. However, the nutraceuticals segment is estimated to manifest the largest CAGR of 8.1% from 2021 to 2030.
Based on region, Europe contributed to the largest share in 2020, holding nearly two-fifths of the total share, and is projected to maintain its dominance in terms of revenue by 2030. However, Asia-Pacific is expected to witness the fastest CAGR of 7.9% during the forecast period.
Leading players of the global fish gelatin market analyzed in the research include Foodchem International Corporation, Kenney & Ross Limited (K&R), Jellice Gelatin & Collagen, Nitta Gelatin, Lapi Gelatine SPA, Norland products Inc., NA Inc., ST Foods, Nutra Food Ingredients, Weishardt Holding SA, and Xiamen Gelken Gelatin Co., Ltd.
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