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(Health-NewsWire.Net, October 21, 2019 ) The global collagen peptides market is estimated at USD 772.3 million in 2018 and is projected to reach USD 1,337.0 million by 2023, at a CAGR of 11.6% during the forecast period. Some of the major factors driving the market are consumers’ inclination toward a healthy lifestyle, increase in preference for protein intake, and widening application of collagen peptides. The major restraining factors for the collagen peptides market include stringent food laws for animal-sourced additives.
Globally, collagen peptides are used due to the increase in consumer awareness of healthy food products, which is fueling the market for nutritional food products. Consumers are increasingly focusing on healthy aging, not only to increase their life expectancy but also to prevent and postpone the onset of diet- and bone-related diseases. However, consumers’ concern toward the depletion of animal sources is creating a restraint to the market growth.
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The cattle hide & bones segment, by source, is projected to grow at a high CAGR during the forecast period
Collagen peptides are derived from collagen, a principal constituent of connective tissues and bones of cattle. It is used in various applications, which include nutritional products and dairy products. Bovine and porcine bones & hides have been used as the main source for collagen peptides. It helps in healthy muscle growth and aids in energy production during workouts. Thus, with the increasing demand for sports nutrition and healthy fortified food & beverage products, the demand for cattle hide & bones from the collagen peptide manufacturers is also increased.
The nutritional products segment, by application, is projected to grow at the highest CAGR during the forecast period
Nutritional products play an important role in optimizing athletes’ performance. They help in improving protecting joints and connective tissues, muscle restoration, aiding muscular contraction, weight management, and also helps to reduce the risk of injury. Due to their various chemical and nutritional properties, collagen peptides are combined with other ingredients for a variety of food & beverage products. Thus, this drives the demand for collagen peptides market.
North America is estimated to account for the largest market share in 2018, whereas Asia Pacific is projected to grow at the highest CAGR during the forecast period
The North American market is estimated to account for the largest share from 2018 to 2023. This is attributed to factors such as increased consumer preference for healthy products and increase in the adoption of low-fat & nutrient-rich food & beverage products. The major factors driving the collagen peptides market in North America is the rise in health awareness among consumers.
The Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023. The region’s improved consumer lifestyles over the past decade and the need for dietary & fortified food, followed by advancements in the food & beverage industry have presented opportunities, in terms of new applications and usage for collagen peptides.
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The key players in the collagen peptides market include the following:
Darling Ingredients (US)
Tessenderlo Group (Belgium)
Cargill (US)
Kewpie Corporation (Japan)
Danish Crown (Denmark)
GELATINE AG (Germany)
GELNEX (Brazil)
ITAGELATINE S.p.A (Italy)
Lapi Gelatine (Italy)
Nitta Gelatin (Japan)
Weishardt Group (France)
Junca Gelatines (Spain)
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