San Francisco, California (PRWEB) April 23, 2014
The global market for gelatin is expected to reach USD 3.18 billion by 2020, according to a new study by Grand View Research, Inc. Growing consumption in applications such as food and beverage, Nutraceuticals and pharmaceuticals is expected to be critical for market development over the next six years. In addition, improved demand in novel applications such as photography and cosmetics is also expected to boost sales over the forecast period. However, cultural diversity with regards to the raw materials used for extraction of gelatin, poses a significant challenge to the future prospects of gelatin market.
The pigskin was the largest commercial source of gelatin, accounting for nearly 40% of the global production in 2013. Relatively small production cycle coupled with low production cost is expected to be the key driving factor for this segment of the market. Bovine hides and bones followed pig skin as the most potent sources together producing 215 kilo tons gelatin in 2013.
The report “Gelatin Market Analysis By Raw Material (Pig Skin, Bovine Hides, Bones), By Application (Food & Beverage, Nutraceuticals, Pharmaceuticals, Photography, Cosmetics) And Segment Forecasts To 2020” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/gelatin-market-analysis.
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Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the global Gelatin market on the basis of application, raw material and region:
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