The marine collagen market is estimated to be valued at USD 620.3 million in 2018 and is projected to reach USD 897.5 million by 2023, growing at a CAGR of 7.7%. The marine collagen market is witnessing growth owing to the growth in demand for beauty products, increase in the number of R&D activities, innovations in the medical field, technological advancements, and by-product utilization and processing due to the growth of the fish processing industry. One of the key factors driving the growth of the marine collagen market in nutraceuticals is the inclination of end consumers toward sports nutrition and weight management.
Market Dynamics
The growth in the global marine collagen market is largely driven by growing demand for consumer inclination toward healthy lifestyle and high protein consumption. Increase in demand for processed foods to provide opportunity for collagen-infused functional foods presents significant opportunities for growth of the marine collagen market. high import duty is likely to restrain growth of this market during the forecast period.
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Consumer inclination toward healthy lifestyle and high protein consumption
Growing health concerns among consumers have increased the adoption of sport and wellness activities which require protein restoration to avoid tissue damage. Almost 97% of protein restoration is possible with the use of marine collagen. The arginine content in collagen improves the efficiency of athletic performance. The marketing strategies adopted by nutraceutical manufacturers make products readily available to consumers. This is one of the driving factors for the growth of the collagen peptides market. The Asia Pacific region witnesses the highest demand for functional food products due to the rising population, increasing disposable income, and changing consumer lifestyles.
Better bioavailability as compared to other collagen types
Marine collagen offers better bioavailability as compared to the collagen from other animal sources such as porcine or bovine due to lower molecular weight and smaller chains. Marine collagen is absorbed into the bloodstream instantly after consumption. The absorption rate of marine collagen is 1.5 times higher than that of other collagen types. This helps to achieve the desired effects in the body such as tissue regeneration and bone remineralization. The smaller particle size of fish collagen makes it the most preferred option over other collagen types. Bioavailability is a critical parameter which decides the effectiveness of any nutraceutical. This parameter is fueling the marine collagen market growth in the nutraceuticals and medical segments.
Awareness about certified food ingredients
Increasing health-related issues such as allergies, obesity, blood pressure, diabetes, and many other problems give rise to concerns among consumers to use certified products. Various regulatory authorities such as the WHO, the Joint Expert Committee on Food Additives (JECFA), the US FDA, and the EU Commission recommend restricting the sale of certain ingredients that do not comply with their guidelines. Consumers also prefer to use clean label products for ensuring consumer health and safety. Moreover, increase in concerns about GMO products is also leading consumers to buy “Non-GMO” certified food products. Hence, launching certified collagen products such as “Non-GMO” marine collagen provides a growth opportunity for the market.
Increase in demand for processed foods to provide opportunity for collagen-infused functional foods
Shift in consumer focus toward processed food products such as frozen food and RTE meals owing to changing lifestyles. For higher marketability, the use of marine collagen to accentuate the organoleptic characteristics of the food & beverage products provides an opportunity for market growth. With the increasing preference for convenience foods, the opportunity for the marine collagen market is growing.
The key market players adopted strategies such as expansions & investments, acquisitions, and partnerships to meet the growing demand for marine collagen. Major players such as Ashland (US), Darling Ingredients (US), Nitta Gelatin (Japan), Gelita (Germany), and Weishardt Group (France) collectively accounted for a majority of the global marine collagen market. Other players in the market include Amicogen, (South Korea), Nippi, Incorporated (Japan), Seagarden (Norway), ChinaPeptide (China), Vital Proteins (US), Connoils (US), BHN (Japan), Beijing Taiaitai Biotechnology (China), and ITALGELATINE (Italy).
Ashland is one of the leading manufacturers and marketers of marine collagen for the cosmetics industry. The company is a major supplier of skin & sun care products. It focused on acquisitions and expansions between 2013 and 2017. In May 2017, Ashland acquired Pharmachem Laboratories (US), which is a global player in the supply and manufacturing of health & wellness ingredients. Pharmachem Laboratories operates with 14 manufacturing sites in the US and Mexico. In October 2016, Ashland set up a pharmaceutical technical center in Shanghai (China) to offer innovative products to the pharmaceutical industry through the application of specialized chemistry.
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Darling Ingredients is another leading player in the market due to its strong global presence and product offerings. It develops and manufactures fish collagen peptides for food, cosmetics, and pharmaceutical industries. It adopted acquisitions as its key strategy to expand its geographic network. In January 2014, Darling Ingredients acquired VION Ingredients, part of VION Food Group (Netherlands), which is a global leader in specialty ingredients for food, feed, fertilizers, and bio-energy. Rousselot was a part of VION Ingredients, which manufactures gelatin and collagen ingredients.
