Bovine gelatin market projected to reach USD 2.92 billion by 2033
- The Bovine Gelatin Market was valued at USD 1.33 billion in 2023, with expectations to grow to USD 1.38 billion in 2024.
- The market is projected to reach around USD 2.92 billion by 2033, driven by the demand in nutraceuticals and food sectors.
- Investment activities, such as Perfect Day's acquisition bid, highlight the market's growth opportunities and resilience.
The global Bovine Gelatin Market, which was valued at approximately USD 1.33 billion in 2023, is projected to reach around USD 2.92 billion by 2033. This significant growth, at a compound annual growth rate (CAGR) of 8.67%, reflects the increasing demand for gelatin, particularly in the nutraceuticals sector where it plays a vital role in products for joint health and dietary supplements. The market's expansion is also bolstered by consumer preferences for natural ingredients in the food and beverage industry. Perfect Day's bid of approximately USD 79.8 million for an Indian gelatin company signifies the ongoing investments aimed at capitalizing on growth opportunities within this sector. The COVID-19 pandemic has affected the Bovine Gelatin Market, bringing both challenges and growth potential, underscoring the resilience of this industry amid fluctuating market conditions.