PUBLISHER: Mordor Intelligence | PRODUCT CODE: 458477
PUBLISHER: Mordor Intelligence | PRODUCT CODE: 458477
Global collagen market is projected to grow with CAGR of 5.05% during the forecast period (2020 - 2025).
The global marketplace has witnessed a paradigm shift from curative practices to preventive management in healthcare, especially for conditions, like arthritis. This is due to the high medical and healthcare costs, globally. Populations in the United States, Europe, and Japan are aging, thereby prompting consumers to seek a variety of dietary supplements for maintaining and enhancing their overall health and well-being.
With the growing demand for dietary supplements, collagen (which is mostly derived from bovine sources and, sometimes, from chicken and fish scales) has become a part of functional drinks for the treatment of joint, muscle, and bone-related health issues. Hence, the use of collagen as a dietary supplement in preventing various diseases, like arthritis, is supporting the market growth. Thus, the dietary supplements industry plays a pivotal role in the growth of the collagen market.
The consistent restructuring of business policies, increasing affordability, and rising awareness regarding the health benefits associated with collagen and its derivatives, Asia Pacific is anticipated to witness the largest market share during the forecast period. In countries like China, the female population accounts for a significant share of the consumption of collagen-based beauty drinks across the world. Furthermore, there are several firms operating in this market, which can be attributed to the market's profitability. The wide spectrum of applications of collagen in wound healing products attracted major investments, primarily from leading pharmaceutical and biotechnological companies is accelerating the growth of collagen-based products in countries like India, China, Japan, Australia, and others. These companies are exploring technologies, in order to incorporate collagen-based products for better drug delivery systems.
The Tessenderlo Group, Holista Colltech Limited, Gelita AG, and GELNEX are some of the key players in the collagen market. Junca Gelatines SL, Darling Ingredients Inc., and KENNEY & ROSS LIMITED are other prominent companies in the collagen market. These companies are increasing their product lines and also expanding their presence geographically. New product launches as a result of innovation, market expansion, and partnerships/agreements are the preferred strategic approach adopted by most of the key companies involved in the production of collagen.