Collagen Market to Reach USD 7,205.03 Million with a CAGR of 8.3% Till 2028

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Collagen Market to Reach USD 7,205.03 Million with a CAGR of 8.3% Till 2028

The scope of "The Insight Partners" recent study, titled "The global Collagen Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Sourc

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The scope of “The Insight Partners” recent study, titled “The global Collagen Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Source (Bovine, Porcine, Marine, Plant-based/Vegan, and Others), Product Type (Gelatin, Hydrolyzed Collagen, and Native Collagen), and Application (Food & Beverages, Pharmaceuticals & Nutraceuticals, Personal Care, and Others),” includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments, along with market share analysis. The collagen market was valued at US$ 4,120.19 million in 2021 and is projected to reach US$ 7,205.03 million by 2028. It is expected to grow at a CAGR of 8.3% from 2021 to 2028.

Collagen is the most important structural protein in the extracellular matrix, which is found in all the body’s connective tissues. It is the most common protein in animals, accounting for 25 to 35 percent of total protein content. It is the major component of connective tissue. Collagen is made up of amino acids bonded together to form a collagen helix, which is a triple helix of elongated fibril. It’s typically present in cartilage, bones, tendons, ligaments, and skin. However, vegan collagen is made from genetically modified yeast and bacteria, specifically the bacteria P. pastoris. It then has four human genes that code for collagen added, along with the digestive enzyme pepsin.

The top players operating in the collagen market are GELITA AG; Gelnex; Lapi Gelatine S.p.a; Ewald-Gelatine GmbH; RABJ.CO., LTD; Vinh Hoan Corporation; Weishardt; Protein S.A.; Nippi Inc.; and Nitta Gelatin Inc. among few others.

The veganism trends are rapidly rising in North America, Europe, and Asia-Pacific markets. According to the Harris Poll conducted on behalf of the Vegetarian Resource Group, as of March 2019, 2% of American citizens considered themselves as vegan. Veganism was one of the top 5 searched terms on Google in 2019 in the UK and across the globe, according to Google Trends. Plant-based products have gained huge traction owing to shifting consumer preferences towards sustainable products, growing affiliation for animals, and rising awareness of animal protection.

Moreover, a wide range of plant-based products are available across multiple retail channels including supermarket chains such as Walmart, Kroger, Lidl, and online retail platforms, among others. The growth of veganism has compelled the collagen manufacturers to launch plant-based or vegan-friendly collagen. Recently, in 2020, Evonik Industries developed vegan-friendly collagen using micro-organisms and fermentation-based processes that do not use animal-derived materials. The collagen is produced under controlled environment making it suitable for vegans. Such product developments are expected to fuel the growth of collagen market over the forecast period.

Based on application, the collagen market is segmented into food & beverages, pharmaceuticals & nutraceuticals, personal care, and others. The pharmaceuticals & nutraceuticals segment held a significant share in the global collagen market in 2020. However, the personal care segment is projected to grow at the fastest CAGR over the forecast period. Collagen is extensively used to manufacture dietary supplements. Manufacturers of vitamin supplements incorporate collagen, which provides enhanced benefits to consumers. Collagen supplements also boost hair health, improve skin texture and elasticity, and increase bone strength. The rising demand for collagen supplements is potentially driving the growth of the market.

Based on geography, the collagen market is segmented into – North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). Asia Pacific collagen market is expected to register the fastest growth over the forecast period. The beauty and wellness industry across Asia Pacific is undergoing a massive transformation. South Korea and Japan are rapidly emerging markets in the beauty industry. People in Asia Pacific are focusing on inner beauty and prefer nutricosmetics that help enhance beauty from within. Holistic beauty trends are rapidly growing in Asia Pacific markets. Collagen is one of the most extensively used products in nutricosmetics.

The collagen market witnessed mixed impacts of the COVID-19 pandemic. As people became health-conscious due to the pandemic, they preferred dietary supplements that help boost immunity and maintain overall health. This factor positively impacted the collagen market growth. However, due to severe disruption of supply chains, there was a shortage of raw materials, which negatively impacted the profitability of small-scale and large-scale collagen manufacturers. A shortfall in product supply created a demand and supply gap, which affected the growth of the collagen market.

The collagen market is moving towards stability as the restrictions imposed by the governments of different nations are relaxed. Manufacturers are recovering from the losses as they are operating with full capacity supply chains. All these factors are projected to boost the collagen market growth over the forecast period significantly. Thus, the COVID-19 pandemic negatively impacted the collagen market for short-term but later it opened lucrative growth opportunities for the market.

Read More: https://www.theinsightpartners.com/reports/collagen-market

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