The Collagen Peptides Market Projected to Grow at a CAGR of 6.66% and Generate a Revenue of $1,224.4 million by 2030Download Sample Reports Overview
The global collagen peptides market size is predicted to be valued at $1,224.4 million by 2030, surging from $696 million in 2021, at a noteworthy CAGR of 6.66%.
COVID-19 Impact on Collagen Peptides Market
The COVID-19 pandemic has distorted the flow of goods and materials that affected the collagen peptides market demand, supply, import-export, and availability of collagen peptides across end-use industries. The COVID-19 pandemic affected several businesses, including the meals & beverage industry. Many regulations and isolation measures had been imposed via way of means of governments everywhere in the world, disrupting deliver chain strategies inside and out of the country, ensuing in meals shortages, which impacted collagen peptides industry because collagen peptides are mostly consumed along with food & beverage such as tea, smoothie and oats. This led to disruption globally in collagen peptides industry due to lack of collagen peptides reach towards customer and change in the buying behavior as people majorly focused on immunity booster.
However, due to the fact that COVID instances and mortality rates have decreased, the state of affairs has been stabilized, and the worldwide collagen peptides market is anticipated to develop as human beings turn out to be greater aware about what they devour and the way it influences their bodies like having healthy muscles, strong ligaments & tendons, and smooth skin. During the crisis, many market players strategized new launching new products and joint ventures to seize the marketplace. According to the article on www.researchdive.com, GELITA AG launched "VERISOL", a brand new bioactive collagen peptide, which complements hair growth. GELITA experimented on 44 females for a period of 26 weeks and concluded that the hair growth was 31% more after using bioactive collagen peptides VERISOL.
Global Collagen Peptides Market Analysis
Collagen peptides are great antiaging components due to their extensive variety of biologically active ingredients and amazing advantages, which include anti-oxidation, anti-diabetes, anti-hypertension, and antibacterial properties.
The presence of substitutes for collagen peptides like soy products, black beans, kidney beans, nuts, and seeds of pumpkin limits the consumption of collagen peptides. This is one of the restraints of the collagen peptides market growth. Another essential restraint is that collagen peptides are commonly extracted from bovine animals, so vegetarian people refrain from consuming collagen peptides. Collagen peptides may also have some adverse effects on the body like increase in calcium level and formation of kidney stones. Consumption of collagen peptides may also reduce the level of serotonin.
There are continuous technological advancements provides collagen peptides market opportunity like making the products more soluble, less dust formation during operations like extraction of collagen peptide from animals, and high bulk density which aids in fitting more concentrated amount of collagen peptides in a tablet or other forms of dosage. Along with machinery and biochemical advancements, collagen peptides are used in products like high-protein gummies and Granola bars. Since people have tremendous affection towards animals like cats, dogs, and horses, it gives companies the opportunity to make products containing bioactive collagen peptides for animals, which helps preventing osteoarthritis, which is a degenerative joint disease characterized by the progressive destruction of articular cartilage caused by a disbalance between synthesis and breakdown processes in animals. Osteoarthritis affects more than 20% of dogs older than one year which is expected to propel the growth of global collagen peptides market in the forecasting years.
Global Collagen Peptides Market, Segmentation
The global collagen peptides market is segmented based on source, application, and region. Source:
The source segment is further classified into bovine, porcine, marine, and poultry. Among these, the bovine sub-segment is anticipated to have a dominant market share and shall surpass $476.4 million by 2030, with an increase from $276.6 million in 2021. The largest source of collagen peptides is bovine which is less costly and easily available in the market. There are several health benefits of collagen peptides associated with bovine like healing of gut, support muscle strength, and improve digestion.
Application segment is classified into nutritional products, food & beverage, cosmetics & personal care, and others. Food & beverage sub-segment is anticipated to have a dominant market share and shall surpass $332.9 million by 2030, with an increase from $195.5 million in 2021. Collagen peptides are abundantly used in food and beverages due to their ability to easily get absorbed in the intestine. Collagen peptides are used in food & beverage products to extend the shelf life of products and add nutritional value to them without affecting their texture. Products such as protein bars and clear fruit gummies with a protein content of up to 35% are available in market. The food & and beverage industry in North America and Europe have high demand for dietary supplements and functional foods & beverages. These collagen peptides market trend will propel the growth of collagen peptides in the forecasted years.
The collagen peptides market was investigated across North America, Europe, Asia-Pacific, and LAMEA. North America collagen peptides market generated a revenue of $228.3 million in 2021 and is projected to reach up to $385.7 million by 2030. Collagen as a source of energy and nutrients is taking over North America owing to properties like controlling arthritis, improving overall bone health, and alleviating some skin conditions. These factors contribute to the development of the collagen peptide market with inside the North American region.
Key Players in the Collagen Peptides Market
Some of the leading collagen peptides market players are
- Tessenderlo Group
- Darling Ingredients
- GELITA AG
- Collagen Solutions Plc
- Nitta Gelatin India Limited
- FOODMATE CO. LTD.
- Ewald-Gelatine GmbH.
In December 2020, 65% share of Turkish gelatin producer, SelJel (Turkey) was acquired by Gelita AG. This acquisition enabled the company to meet increasing demand for halal beef gelatin which aided company’s growth.