July 2/New York/PRNewswire -- According to a new market report published by Transparency Market Research, "Gelatin Market by Raw Material (Pig Skin, Bovine Hide, Bones and Others) for Food & Beverage, Nutraceuticals, Pharmaceuticals, Photography, Cosmetics and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the global gelatin market was worth $1.77 billion in 2011 and is expected to grow at a CAGR of 6.75% from 2012 to 2018. The global gelatin production was 348.9 kilo tons in 2011 and is expected to reach 450.7 kilo tons in 2018, growing at a CAGR of 3.73% from 2012 to 2018.

Increasing applications in food & beverage, pharmaceuticals and nutraceuticals industries are expected to fuel the growth of the gelatin market over the forecast period. Growing awareness among the health conscious people and rising aged population is expected to bolster the gelatin market in the coming years. However, prevalence of cultural choices across the globe, and impending regulatory issues are posing a challenge to the market.

Pig skin was utilized for manufacturing gelatin on a large scale, and accounted for over 40% of the overall production volume in 2011. Food & beverage application segment dominated the overall market accounted for 28.65% of the gelatin volume in 2011. Nutraceuticals and pharmaceuticals followed food & beverages in terms of market share and are expected to grow at a CAGR of 3.69% and 3.66% from 2012 to 2018 respectively.