The import of gelatin, isinglass, and glues of animal origin to India is set to rise consistently over the forecasted period from 2024 to 2028. Starting from 5.8113 million kilograms in 2024, the imports are expected to grow steadily, reaching 6.5711 million kilograms by 2028. This upward trend indicates a Compound Annual Growth Rate (CAGR) over the next five years.
In 2023, the volume stood at 5.63 million kilograms. The year-on-year growth illustrates a healthy increase in demand, with a percentage rise observed in the past few years. This reflects the expanding industrial applications and consumption in India.
Future trends to watch for include:
- Increasing demand in sectors like food, pharmaceuticals, and cosmetics driving imports.
- Potential impacts of local production capabilities on import growth rates.
- Trade policies and environmental regulations affecting the animal-derived product market.