Collagen Peptides Market to Reach $1.22 Billion Globally by 2030 at a CAGR of 6.66%: Allied Market Research
Raising people’s awareness of their skin and their health and increasing demand for collagen peptides from the food and beverage industry drive the growth of the global collagen peptides market.
PORTLAND, Oregon., August 9, 2022 /PRNewswire/ — Allied Market Research has released a report titled, “Collagen Peptides Market By Source (Bovine, Porcine, Marine, Poultry), By Application (Food & Beverages, Nutritionals, Cosmetics & Personal Care, Others): Global Opportunities Analysis and Industry Forecast, 2021-2030 “. According to the report, the global collagen peptides industry generated $696.00 million in 2021, and should generate $1.22 billion by 2030, with a CAGR of 6.66% from 2022 to 2030.
Main determinants of growth
People’s awareness about their skin and health and increasing demand for collagen peptides from the food and beverage industry are driving the growth of the global collagen peptides market. However, people who do not consume animal products due to religious or personal values will also avoid collagen peptide products. This is a factor that is expected to hamper the revenue growth of the global market. On the other hand, globalization, exposure to various cultures including Western lifestyles, and change in consumer eating habits are expected to provide opportunities for market revenue growth in the projected period.
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- The outbreak of the COVID-19 pandemic has hampered the production of collagen peptides in various end-use industries such as sports nutrition, food and beverage, dairy, cosmetics, meat and poultry .
- The pandemic led to the establishment of global lockdown and as a result, all collagen peptide manufacturing companies had to suspend their operations, especially during the initial period.
- Import and export restrictions have led to disruptions in the supply chain. Labor shortage, due to social distancing norms, was another major factor restricting production.
- Significant reduction in meat consumption globally during the pandemic has negatively impacted the revenue growth of collagen peptides market.
- However, in the post-pandemic period, the market is expected to grow due to a huge increase in the demand for supplements worldwide for stronger immunity. Also, it is predicted that sedentary lifestyle may boost the demand for collagen peptides as it helps reduce health complications such as heart failure and joint pain.
The Nutritional Products Segment to Maintain its Leading Status Throughout the Forecast Period
Based on applications, the nutritional products segment held the highest market share in 2021, accounting for nearly two-fifths of the global collagen peptides market, and is expected to maintain its leading status throughout the forecast period. . Moreover, the same segment is expected to show the highest CAGR of 7.0% from 2022 to 2030. Collagen peptide helps improve bone health, skin, joints and muscle strength. As a result, collagen peptide is primarily used in nutritional products and supplements. The report also analyzes segments such as food and beverages and cosmetics and personal care.
The beef sector will maintain its leading position over the forecast period
Based on source, the bovine segment accounted for the largest share in 2021, contributing almost two-fifths of the global collagen peptides market, and is expected to maintain its leading position during the forecast period. Collagen peptide extracted from bovine source bears a close resemblance to human collagen. As a result, bovine-derived collagen peptide is widely used in tendon strengthening, hernia repair, and reconstructive surgery equipment. However, the marine segment is expected to show the highest CAGR of 7.6% from 2022 to 2030, due to the increase in demand for sports supplements.
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North America maintain dominance by 2031
Based on the region, North America held the highest market share by 2021 revenue, accounting for almost a third of the global collagen peptides market. Increased awareness among people in this region is expected to fuel the growth of the market in the coming years. However, the Asia Pacific The region is expected to witness the fastest CAGR of 7.7% from 2022 to 2030. Asian consumers are focusing more on fitness and sports activities for good health and physique. Soaring expenditure on nutritional supplements, health and beauty products is estimated to drive the collagen peptides market in the region.
Major Market Players:-
- Cherished ingredients (Rousselot)
- Nitta Gelatin, Inc.
- Gelita AG
- Foodmate Co., Ltd.
- Naturin Viscofan GmbH
- Tessenderlo Group (PB Leiner)
- Weishardt Group
- Lapi Gelatin Spa
The report provides a detailed analysis of these key market players. These companies have adopted several strategies such as partnerships, expansion, collaborations, new product launches, and mergers and acquisitions to maintain their presence in the industry. Additionally, the report is essential in determining the business performance, product portfolio, operating segments, and developments of each market player.
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SOURCE Allied Market Research