Gelatin Substitutes Market Size, Share, Growth Analysis, By Source(Plant-Based and Animal-Based), By Application(Food and Beverages, and Personal Care and Cosmetics), By Product Type(Agar-Agar, and Corn Starch), By Region - Industry Forecast 2024-2031

Gelatin Substitutes Market size was valued at USD 374.77 billion in 2022 and is poised to grow from USD 401.75 billion in 2023 to USD 700.68 billion by 2031, at a CAGR of 7.20% during the forecast period (2024-2031).

The gelatin substitutes market is moderately fragmented, with several small and large players operating in the market. The market players are increasingly focused on developing plant-based alternatives to gelatin that can provide similar functional properties and are cost-effective. Additionally, the players are also investing in research and development activities to improve the quality and functionality of the products. Apart from this, the players also collaborate and partner with food manufacturers to increase their market share and expand their product portfolio. 'Ingredion', 'Kerry Group', 'Cargill', 'DuPont de Nemours, Inc.', 'Ashland Holdings', 'CP Kelco', 'Tate & Lyle', 'Archer Daniels Midland', 'DowDupont Inc.', 'Ashland Inc.', 'Glanbia Nutritionals', 'Nitta Gelatin Inc.', 'Gelita AG', 'Rousselot SAS', 'PB Leiner', 'Weishardt International', 'Koninklijke DSM N.V.', 'Darling Ingredients Inc.', 'FMC Corporation', 'Naturex SA', 'In March 2023, Taiyo International announced the launch of a new range of plant-based proteins, designed for use in sports nutrition products.', 'In January 2023, Gelymar SA announced the launch of a new range of carrageenan-based products for use in plant-based dairy alternatives.', 'In September 2022, Symrise AG announced the launch of a new range of plant-based flavor solutions for meat alternatives.', 'In July 2022, Nitta Gelatin Inc. announced the acquisition of Geliko, a US-based manufacturer of gelatin and collagen products.', 'In March 2022, Corbion N.V. announced the acquisition of BioProcess Algae, a US-based supplier of microalgae-based ingredients for food and feed applications.'

One of the key drivers for the growth of the gelatin substitutes market is the increasing demand for plant-based alternatives to gelatin, especially among consumers who follow a vegetarian or vegan diet. This trend is driven by growing health consciousness and ethical concerns about animal-based products. Furthermore, the food industry is also increasingly adopting plant-based alternatives to gelatin to cater to this demand and to develop functional foods that can provide health benefits.

One of the key market trends in the gelatin substitutes market is the increasing demand for plant-based alternatives to gelatin, driven by the rising trend of veganism and vegetarianism, as well as concerns over the sustainability and ethical implications of animal-based products. Moreover, the manufacturers are increasingly focused on improving the quality and functionality of plant-based alternatives to meet the specific needs of different applications, including confectionery, dairy, and meat products. This trend is expected to continue, with the market players investing in research and development to further enhance the properties of plant-based alternatives.

North America dominated the market due to the increasing adoption of vegetarian and vegan diets among consumers in the region. The United States is North America's largest market for gelatin substitutes, with a significant demand for plant-based alternatives to gelatin in the food industry.