The global market for collagen peptides is projected to observe considerable growth over the forecast period, owing to the rising demand for collagen peptides form the food & beverage industry around the world. By source, the marine sub-segment is estimated to observe significant growth by 2027. Regionally, the North America market is predicted to generate huge opportunities for the market investors in the estimated timeframe.
New York, USA, July 19, 2021 (GLOBE NEWSWIRE) -- As per a latest report published by Research Dive, the global collagen peptides market is projected to register a revenue of $1,169.5 million at a CAGR of 8.1% during the forecast period from 2020 to 2027, increasing from $737.8 million in 2019. The comprehensive report provides a brief summary of the current market scenario including major aspects of the market such as growth factors, challenges, restraints, and numerous growth opportunities. The report also provides all the market estimations making it easier as well as helpful for the new participants to get better idea of the market.
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As per the analysts of Research Dive, the collagen peptide is a major functional ingredient in many food items and thus there is an increasing demand for collagen peptides from food & beverage sector. Besides, awareness is growing among people about health and nutritional products. All these factors are projected to bolster the growth of the global collagen peptides market in the analysis period. Moreover, the increase in number of R&D activities for the development of novel products coupled with favorable government initiatives to promote healthy diet are expected to generate huge growth opportunities for the global market. However, stringent food regulations related to the approval animal origin food and the huge availability of alternatives to collagen peptides are estimated to hinder the market growth in the coming years.
Impact of COVID-19 on the Market
The outbreak of COVID-19 around the world has unfavorably impacted the global collagen peptides market. This is majorly due to the decline in meat consumption, especially bovine and marine products, across the globe. The decreasing demand for meat has directly impacted the production of collagen peptides because beef and fish waste are major raw materials for collagen products. However, many key market players are constantly adopting & implementing several tactics such as joint ventures and product launches to sustain during the pandemic crisis.
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Marine Sub-segment to Grow at the Highest Rate
By source, the marine sub-segment valued for is projected to account for $108.0 million by 2027 and grow at the highest CAGR during the forecast period. This significant growth can be attributed to swift growth in aquaculture industry across the globe. In addition, the fish processing facilities are generating huge amounts of waste including skin, fins, and scales which are used for collagen peptides production. This is driving the sub-segment’s growth.
Food and Beverage Sub-segment to Hold the Largest Market Share
By application, the food and beverage sub-segment valued for $278.6 million in 2019 and is expected to account for the majority of market share in the global industry during the analysis period. The sub-segment is estimated to grow at a CAGR of 7.7% from 2020 to 2027, majorly owing to increasing utilization of collagen peptide products in the food & beverage industry due to its various properties such as absorption capacity, thickening, and texturizing properties.
North America Region to Witness Exponential Growth
By region, the North America market for collagen peptides is projected to witness exponential growth by rising at a CAGR of 8.6% CAGR during the forecast period. This is mainly because collagen-based supplements are getting hugely popular among the population in the region as a nutritional and energy source. In addition, the healthcare sector in the region is making use of collagen peptides to develop regenerative drugs for arthritis as collagen peptides have multifunctional properties. This factor is driving the growth of the North America market.
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Prominent Market Players
The report presents several aspects of these major players such as business & financial performance, strategic moves by key players, latest developments, product portfolio, and SWOT analysis. Some of the top players of the global collagen peptides industry are:
FOODMATE CO. LTD.
Nitta Gelatin India Limited
Collagen Solutions Plc.
These players are implementing numerous strategies to gain a leading position in the global industry.
For instance, in January 2021, Gelita, a leading manufacturer of gelatin and collagen peptides for the health & nutrition, food, and pharmaceutical industries, expanded to the immunity sector with the launch of collagen peptide. The company is broadening its patented portfolio of Bioactive Collagen Peptides (BCP) with a novel brand, ‘Immupept’ that targets the immunity sector.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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