The rising demand for convenience food and increasing awareness of collagen in the medical and healthcare industries are the major driving factors for the market. On the other hand, the cultural restrictions due to the usage of animal skin are projected to hinder the market growth.
The collagen market, in terms of value, is estimated to account for nearly USD 3.5 billion in 2018 and projected to grow at a CAGR of 5.2%, to reach nearly USD 4.6 billion by 2023. This is due to the growth of the food & beverages industry as manufacturers are using collagen in their food items to increase the protein content in the final product. Busy lifestyles have driven the food manufacturing industry to produce new products that could meet the rise in demand from consumers, which in turn, drives the overall collagen market.
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Key players that have a strong presence in the collagen market include Gelita AG (Germany), Nitta Gelatine, Inc. (US), Weishardt Group (France), Darling Ingredients (US), Nippi Inc. (Japan), Vinh Hoan Corporation (Vietnam), Juncà Gelatines, S.L. (Spain), Lapi Gelatine S.p.a. (Italy), Gelnex (Brazil), Vital Proteins (US), Baotou Dongbao Bio-Tech Co., Ltd. (China), RABJ Co., Ltd (Japan), Connoils (US), Nutra Food Ingredients (US), and Italgelatine S.P.A (Italy).
By product type, the gelatin segment is estimated to dominate the global collagen market in 2018. Gelatin is widely used in foods to improve elasticity, consistency, and stability. It also helps to normalize gut hormones in obese people. Thus, due to rising health awareness, gelatin is being preferred by food manufacturers to produce nutritious food products. Gelatin is increasingly used in the food & beverage industry to make gummy candies, puddings, confectionery, and gelatin desserts. It is also added in sauces and soups to thicken the consistency and provide a better product to the consumers. Nowadays, gelatin from fish and edible insects are also used as an alternative source, which is being accepted for kosher (Jewish) and halal (Muslim) products. Thus, due to the wide usage of gelatin, the collagen market is projected to witness significant growth.
By application, the pharmaceutical & healthcare segment is estimated to grow at the highest CAGR during the forecast period. Factors such as changing lifestyles and increasing population of working women are driving the demand for ready-to-eat collagen globally. Collagen has a wide range of applications in the medical & pharmaceutical sector due to its ability to reconstruct the bone. They are widely used in plastic surgeries, burn care, orthopedics, wound care, dentistry, and cardiovascular practices. The increasing health and medical issues have led to the increasing use of collagen in medical applications. However, religious restrictions related to bovine- and porcine-derived collagens have allowed medicine manufacturers to opt for marine animals as a source of collagen. Nowadays, collagen is also sold as a pill that can be used as a supplement to help with joint mobility. These factors are projected to drive the market growth of collagen during the forecast period.
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Europe is estimated to account for the largest market share in the collagen market in 2018. The region has witnessed many collagen-infused drinks launched by the manufacturers, such as cappuccino collagen and soy collagen. They are either marketed as components of protein blends or in combination with fruits. The rising usage of collagen in wide varieties of food items and beverages along with the changing consumer preferences are accelerating the market growth. Moreover, the preference for minimally invasive or non-invasive technologies and the increasing use of collagen by biomedical industries in the developed countries are further driving the market.
Collagen Peptides Market worth $795 million by 2025
Food & beverage manufacturers have started using collagen peptides increasingly as an ingredient in a wide range of products. Also, with biotechnological advancement, collagen peptides have found its use in various biomedical applications. The versatile nature of collagen peptides makes it useful in the pharmaceutical industry for the production of orally administrative medicines.
Pea Starch Market is Expected to Reach $203 Million by 2026
Growth in the demand for pea starch in the end-user application industries is driving the market growth of pea starch. Further, increase in the demand for gluten-free products is also a major factor resulting to the rise in the demand for pea starch.
Shrink Plastic Film Market is Estimated to Grow $3.0 billion by 2025
Based on type, the shrink plastic film market for beverage multipacks is dominated by the unprinted shrink plastic film segment.
