Press Release: April 16, 2020
Collagen peptides are the bioactive peptides that are derived through enzymatic hydrolysis process of collagen. It is a good source of protein and a healthy nutrition that helps to improve the health of joints, prevent bone loss and also enhance overall skin health by reducing wrinkles and improving moisture levels in skin. Collagen peptide also referred to as hydrolyzed collagen is a highly digestible, cold-soluble and bioavailable source of collagen. The production of collagen peptide is restricted to mainly advanced countries such as US, Germany and UK as the extraction of collagen requires advanced technologies currently not available in developing countries.
New analysis from GMI Research, expects the global collagen peptides market to valued at USD 897 million in 2018 and is expected to reach USD 1,901 million by 2026 growing at a compound annual growth rate of 8.7% during the forecast period. Growing adoption of healthier lifestyles by the consumers, wider applications of collagen peptides as well as a rise in the use of collagen peptide in the food and beverage industry are the key factors bolstering the growth of collagen peptide market. In addition, the increase in the usage of collagen peptide in nutraceuticals, medical and cosmetic applications are contributing towards the global demand of collagen peptides. Furthermore, health consciousness among the urban population is witnessing a substantial rise and hence will act as a key driver for the growth of the collagen peptide market during the forecast period.
Based on product type, Animal-Based segment accounted for the maximum revenues in 2018 and it is projected to dominate the market share through 2026 due to the growing demand for animal-based peptides such as bovine, porcine, and others. The health benefits associated with animal-based collagen peptides as well as their cost-effectiveness are the major reason it is most preferred by consumers. Moreover, bovine collagen peptide helps in improving bone metabolism and is considered as nutraceuticals to improve joint health in patients with osteoarthritis. On the other hand, the porcine collagen peptide is usually cheaper, and it is good for skin and anti-aging.
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Based on application, Nutraceutical segment held the highest market share in 2018 owing to the rising demand for sports nutrition products to stimulate muscle growth and increase in problems related to bones and joints among the ageing population. In addition, collagen peptide is considered as a major nutritional ingredients in most of protein products as it helps in improving athletic performance and reduces the risk of injury.
Based on region, North America is the major revenue contributor in the market in 2018 owing to the thriving food & beverages and cosmetics industry in the region. In addition, there has been increased research and development activities to develop novel collagen drugs in the region. On the other hand, Asia-Pacific is projected to grow at the fastest CAGR of 10.1% during 2019-2026 due to the rising awareness regarding the health benefits of the collagen peptide-based products among the population as well as growth in the nutraceutical industry in the region.
Global collagen peptide market share is divided by some of the key players including Tessenderlo Group, Darling Ingredients Inc., Gelita AG, Holista Colltech Limited, Gelnex, Amicogen, Capsugel, BioCell Technology LLC, Lapi Gelatine S.p.a., Nitta Gelatin India Limited, among others. Key players are investing in various strategies such as new product launches, acquisition, collaborations and expansion to sustain their leading position in the global collagen peptide market.
The global collagen peptide market has been segmented based on the product, application, and key geographies. Based on the product, the global collagen peptide market has been segmented into animal-based and marine-based. Animal-based is further sub segmented into bovine, porcine and others. Based on application, the global collagen peptide market has been segmented into, nutraceuticals, medical, cosmetics, beverages, snacks & cereals, meat products, dairy products and others. Nutraceuticals is further segmented into sports nutrition and dietary supplements.
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