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JBS invests R$400m to launch new collagen, gelatin business

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Vincent

Giant meatpacker JBS has a new venture. The company starts this month the operations of Genu-in, a new company that will produce collagen peptides and gelatin from bovine skin coming from the company’s production chain. The investment in the business totaled R$400 million, with an eye on a market of $4 billion a year that has grown more than 15% annually in the last five years, data by consultancy Allied Market Research show.The new business will sell peptides and gelatin to the food, pharmaceutical, and cosmetics industries. Collagen is widely known as a protein that helps with skin hydration, wrinkle reduction, and cartilage regeneration, among other benefits."It is a company that was born big, positioning itself among the three major players in the market with 10% of the global market for peptides and bovine skin gelatin," said Claudia Yamana, CEO of the group’s new company.The investment is higher than the R$280 million forecast in February 2021, when JBS announced the venture. The higher contribution is due to higher prices of steel, copper, materials for manufacturing the equipment, and transportation expenses, the company said.Genu-in will be the main Brazilian company in this field. A direct competitor of JBS in the processing of bovine protein, Marfrig, for example, only sells the by-products of its production to collagen and gelatin manufacturers. Globally, the biggest competitors are German company Gelita and Rousselot, of U.S.-based Darling Ingredients. Both have operations in Brazil.Genu-in joins the new business division of JBS, with operations that transform the by-products of the cattle, pork, and...

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