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.
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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).
The collagen market is witnessing a strong growth due to the increasing use in the food & beverage industry.
Collagen in the form of gelatin is high in protein, fat-free, cholesterol-free, and low in calories, which makes it a label-friendly ingredient that consumers know and trust. It is a key functional ingredient in many food products. It is also an important component in confectionery items such as marshmallows, gummy candy, and fruit snacks. The dairy industry makes extensive use of gelatin in the manufacture of sour cream, yogurt, ice cream, cheese, and specialty desserts, while meat processors depend on the binding properties of gelatin for the production of specialty meats, pates, and luncheon meats. Thus, these factors are projected to drive the collagen market.
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.
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