The collagen market is expected to reach USD 4.31 billion by 2024, registering a CAGR of 5.05% during the forecast period (2019)
NEW YORK, Jan. 13, 2020 /PRNewswire/ --
Market Overview
The collagen market is expected to reach USD 4.31 billion by 2024, registering a CAGR of 5.05% during the forecast period (2019 - 2024).
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- Growing awareness of consumers regarding personal health, presence of established players, and increased investments in research activities are leading to numerous product launches, both in food and personal care applications, which are expected to drive the growth of the collagen market.
- Key players in the collagen market are investing in R&D and are entering into mergers and acquisitions to enhance their product portfolios. Additionally, the main players are incorporating collagen peptides into food and dietary supplements, as they enhance quality and provide additional health benefits to natural products.
Scope of the Report
The scope of the market includes animal-based collagen and marine-based collagen (segmented by source). By application, the collagen market is segmented into dietary supplements, meat processing, food, cosmetics and personal care applications, and other applications. The other applications segment of collagen includes medical care, food packaging, etc.
Key Market Trends
Growing Demand for Collagen Peptides as Dietary Supplements
The global marketplace has witnessed a paradigm shift from curative practices to preventive management in healthcare, especially for conditions, like arthritis. This is due to the high medical and healthcare costs, globally. Populations in the United States, Europe, and Japan are aging, thereby prompting consumers to seek a variety of dietary supplements for maintaining and enhancing their overall health and well-being. With the growing demand for dietary supplements, collagen (which is mostly derived from bovine sources and, sometimes, from chicken and fish scales) has become a part of functional drinks for the treatment of joint, muscle, and bone-related health issues. Hence, the use of collagen as dietary supplements in preventing various diseases, like arthritis, is supporting the market growth. Thus, the dietary supplements industry plays a pivotal role in the growth of the collagen market.
Food and Beverage Held a Prominent Share of the Collagen Market
Collagen is widely used as an additive in the food and beverage industry to improve the elasticity, consistency, and stability of products, especially in snack bars and soup bases. Furthermore, collagen also enhances the quality, nutritional, and health value of these food products. Collagen is also used as an additive in foods, such as snack bars, soup bases, desserts, and pastry glazes during processing to improve color, texture, flavor, or quality. Collagen peptides help improve the rheological properties of sausages and frankfurters. Probiotic drinks incorporated with collagen peptide protein that stimulates the growth of beneficial gut bacteria have also been launched.
Competitive Landscape
The Tessenderlo Group, Holista Colltech Limited, Gelita AG, and GELNEX are some of the key players in the collagen market. Juncà Gelatines SL, Darling Ingredients Inc., and KENNEY & ROSS LIMITED are other prominent companies in the collagen market. These companies are increasing their product lines and also expanding their presence geographically. New product launches as a result of innovation, market expansion, and partnerships / agreements are the preferred strategic approach adopted by most of the key companies involved in the production of collagen peptides.
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