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(Health-NewsWire.Net, August 24, 2021 ) 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.
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).
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The pharmaceutical & healthcare segment is projected to grow at the highest CAGR during the forecast period in the market.
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.
The bovine segment is estimated to account for the largest share in the market
By source, the bovine segment is estimated to account for the largest share in the collagen market in 2018. Bovine collagen is found in cows; it is a naturally occurring protein present in the cartilage, connective tissues, bones, and hides of cows. The collagen present in cows is similar to the collagen present in human bodies. Bovine collagen is rich in type I and III collagen. This type of collagen benefits the nails, skin, tendons, eyes, hair, muscles, bones, and blood vessels. It is high in protein content and has features such as enhanced water solubility and low molecular weight. As a result, manufacturers are increasingly using it in the food & beverage industry, to offer more nutritious products to their consumers.
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The gelatin segment is estimated to dominate the global market
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.
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