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(Health-NewsWire.Net, January 17, 2020 ) The South East Asia collagen market will grow at a CAGR of 7.2% from 2018 to 2023 to reach USD 142.84 million by 2023, according to the latest publication from Meticulous Research®. The South East Asia collagen market is driven by the growing use of collagen in food industry, growing inclination towards protein consumption & nutricosmetics, increasing application in the healthcare industry, growing technical applications, and rising use of collagen based biomaterials. However, factors such as need of compliance with various standards and stringent regulations due to safety concerns, religious constraints, and growing use of alternatives are expected to hinder the growth of this market to some extent.
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Key Market Segments to Watch
The South East Asia collagen market is mainly segmented by product type (collagen peptide and gelatin), source (porcine, bovine, marine, chicken, sheep, and other animals), application (food and beverages, cosmetics, nutraceuticals, pharmaceuticals, healthcare, and technical), and geography.
Based on product type, gelatin held the largest share of the market in 2017, and is expected to dominate South East Asian collagen market during the forecast period. The application of gelatin has been significant in pharmaceutical industry, as it is primarily being used to make the shells of hard and soft capsules, tablets, granulation, suppositories, plasma substitute for medicines, dietary/health supplements, syrups, etc. Apart from this, growing usage of gelatin in photography, nutraceuticals, and cosmeceuticals offers many opportunities for all the stakeholders in this market. The growing inclination towards the protein consumption among the general population and rising consumption of bakery products have further sparked the growth of gelatin market in recent years.
Based on source, porcine accounted for the major share of the South East Asian collagen market in 2017, owing to the large amount of pork being consumed in this region that results in the abundant availability of raw material for the collagen manufacturing. Pig skin is the most favored source of collagen, as the other sources like fish collagen are exposed to denaturation and exhibits inferior gelling, emulsifying, foaming, and film-forming properties to those of commercial pigskin gelatin.
Apart from its abundant availability, the characteristics of pork collagen such as similarity to human collagen, makes it widely acceptable as it is known to have negligible allergic response to human body. Apart from food processing, pork collagen also has wide range of applications in the tendon reinforcement, hernia repair, skin and wound healing, and plastic and reconstructive surgery.
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Based on application, food and beverages accounted for the major share of the South East Asian collagen market in 2017, owing to the various properties associated with collagen’s gelling behavior such as texturizing, thickening, gel formation, and water binding capacity. However, the use of collagen in nutraceutical application is expected to increase at a considerable pace in the next few years.
Regional Market Growth Trends
Geographically, this market is segmented into Indonesia, Thailand, Malaysia, Philippines, Vietnam, Singapore, and RoSEA. Indonesia commanded the largest share in the South East Asian collagen market in 2017 and is expected to witness significant growth during the forecast period, followed by Thailand, and Malaysia. The large share of this market is mainly attributed to its booming food processing industry due to growing population, increased urbanization, growing awareness of healthy products, rising incomes, the shift of consumers towards modern retail stores, and growing tourism industry. In addition, Indonesia’s fast-growing economy and growing livestock and meat processing industry further drives the market for collagen in this country.
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Top Companies Operating in the South East Asian Collagen Market
The key players operating in the South East Asia collagen market are Rousselot, GELITA AG, Weishardt Holding, Tessenderlo Group, Nitta Gelatin Inc, Italgelatine S.p.A., REINERT GRUPPE Ingredients GmbH, GELNEX, PT. AIMFOOD MANUFACTURING INDONESIA, Holista CollTech Limited, Collagen Solutions Plc, and Advanced BioMatrix Inc.
Key questions answered in the report-
Which are the high growth market segments in terms of product type, source, application, and countries?
What is the historical market for collagen in South East Asia?
What are the market forecasts and estimates from the period 2018-2023?
What are the major drivers, restraints, and opportunities in the South East Asian collagen market?
Who are the major players in the South East Asian collagen market and what share of the market do they hold?
Who are the major players in various countries and what share of the market do they hold?
What are the competitive landscapes and who are the market leaders by sub-region in the South East Asian collagen market?
What are the recent developments in the South East Asian collagen market?
What are the different strategies adopted by the major players in the South East Asian collagen market?
What are the geographic trends and high growth countries?
Who are the local emerging players in the South East Asian collagen market and how do they compete with the other players?
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Meticulous Research™
chhagan yadav
+91 744-7780008
chhagan.y@meticulousresearch.com
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