The marine collagen market is estimated to be valued at USD 620.3 million in 2018 and is projected to reach USD 897.5 million by 2023, growing at a CAGR of 7.7%
LONDON, April 26, 2018 /PRNewswire/ -- The marine collagen market is projected to grow at a CAGR of 7.7%
The marine collagen market is estimated to be valued at USD 620.3 million in 2018 and is projected to reach USD 897.5 million by 2023, growing at a CAGR of 7.7%.
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The need for retention of nutrients and sensory attributes in food have triggered the marine collagen market growth.Factors such as growth in inclination toward healthy lifestyles among consumers and high protein consumption have significantly fueled the demand for marine collagen due to its various health benefits such as regeneration of skin & bones and better bioavailability as compared to other collagen types.
However, high import duty is a major restraining factor for this market while high processing cost is a major challenge.
The type I segment is projected to be the fastest-growing from 2018 to 2023
The type I segment is projected to grow at the highest CAGR from 2018 to 2023.Type I collagen helps in healing wounds and acts as a foundation for strong connecting tissues.
It also finds applications in cosmetics as it helps in preventing any signs of skin aging. Due to these factors, the market is projected to grow at a significant rate in the future.
The skin, scales, and muscles segment is estimated to lead the market with the largest share in 2018
The skin and scales of various fresh and saltwater fishes are the most suitable source of collagen as they contain abundant protein. Fishes are often harvested and processed into skinned and boned fillets, which leaves a large amount of skin and scales so that it can be used for the extraction of collagen.
The fish segment dominated the market in 2017
Fish is one of the widely used key animals used for the extraction of marine collagen.There are many nutritional benefits of fish collagen which is attributed to the presence of proteins, unsaturated essential fatty acids, minerals, and vitamins.
Fish collagen is also effective in the treatment of many diseases, leading to its high demand in the production of pharmaceuticals, food supplements, and cosmetics.
The nutraceuticals segment dominated the market in 2017
Nutraceuticals are one of the widely used applications of marine collagen.Manufacturers are opting for marine animals as a source of collagen to cater to the increasing demand for nutraceuticals among consumers.
Consumers are increasingly getting aware of the health benefits related to marine collagen.
China contributed to the largest market share in the Asia Pacific region in 2017
The Asia Pacific region dominated the marine collagen market in 2017. The market in Europe is driven by the increase in consumption of health supplements in Germany, the UK, and other countries, which draws the attention of companies toward adopting marine collagen for their products.
The demand for marine collagen is high in manufacturing-based economies such as Japan and China.The market is also driven by the increase in the demand for personal care products.
China is one of the major producers as well as exporters of various fish ingredients, including marine collagen. In addition to this, there are various small- and medium-sized emerging players in the country, which are involved in the production of cosmetic, nutraceutical, and pharmaceutical products.
Given below is the breakdown of the primaries on the basis of the company, designation, and region, conducted during the research study.
• By Company Type: Tier 1 – 45%, Tier 2 – 40%, and Tier 3 – 15%
• By Designation: C level – 47% and D level – 53%
• By Region: Europe – 45%, Asia Pacific – 20%, North America – 23%, and RoW – 12%
Major players include companies such as Ashland Inc. (US), Darling Ingredients (US), Nitta Gelatin (Japan), Gelita (Germany), Weishardt Group (France), Amicogen, (South Korea), Nippi, Incorporated (Japan), Seagarden (Norway), ChinaPeptide (China), Vital Proteins (US), Connoils (US), BHN (Japan), Taiaitai (China), and ITALGELATINE (Italy).
Research Coverage:
The report focuses on marine collagen services for different materials and regions.It aims at estimating the size and future growth potential of this market across different segments—type, source, animal, application, and region.
Furthermore, the report includes an in-depth competitive analysis of the key players in the market along with their company profiles, competitive landscape, recent developments, and key market strategies.
Reasons to buy this report:
• To get a comprehensive overview of the global marine collagen market
• To gain wide-ranging information about the top players in this industry, their service portfolios, and key strategies adopted by them
• To gain insights of the major countries/regions in which the marine collagen market is flourishing
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