Collagen Peptide Market expected to gain 4.48% CAGR growth forecast period 2018-2023. Collagen is a structural protein that ensures cohesion, elasticity, and regeneration of connective tissues of the body, including skin, ligaments, cartilage, and bones.
Collagen peptides, also known as hydrolyzed collagen, are small bioactive peptides obtained from the enzymatic hydrolysis of collagen. They have widespread applications in food & beverage, pharmaceuticals & nutraceutical and personal care industry. Moreover, increasing health consciousness, rising trends of self-medication and growing demand for bone and joint care products are some of the key driving factors for global collagen peptide market as with growing age human body tends to produce less collagen.
Growth in number of vegan and vegetarian consumers is expected to be restraining factor for the growth of the market.
Cargill Inc. (US), Darling Ingredients (US), Tessenderlo Group (Belgium), Kewpie Corporation (Japan), Danish Crown (Denmark), Ewald-Gelatine GmbH (Germany), Nitta Gelatin Inc. (Japan), GELITA AG (Germany), Italgelatine S.p.A (Italy), and Juncà Gelatines, S.L (Spain) are some of the key players in the market.
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Global collagen peptide market has been segmented into source, application, and region.
The market based on source has been segmented into animal-based collagen and marine-based collagen. Animal-based collagen is expected to dominate the source segment due to easy availability of raw material. However, marine-based collagen peptides are more bioavailable, fat and calcium-free, show better efficacy than animal-based collagen, and are a better option for medicinal purposes.
Based on application, the market is segmented into food & beverages, pharmaceuticals & nutraceuticals, personal care, and others. However, food & beverages is likely to be the fastest growing segment due to the growing demand for functional food among consumers. Moreover, wide use of collagen peptide in food processing industry, as a tendering agent in meat and poultry industry, storage stabilizer in confectionary and dairy industry is further supporting growth of this segment. Growing trend of preventive therapy, increased consumer understanding about nutrition, and demand for dietary supplements are expected to contribute to the growth of the pharmaceutical & nutraceutical segment.
The global collagen peptide market has been segmented by region into North America, Europe, Asia-Pacific, and Rest of the World. The market in North America has further been segmented into the US, Canada, and Mexico.
Geographically, North America is anticipated to dominate the global collagen peptide market during the forecast period, owing to rising prevalence of chronic diseases in the region. The market in Europe is expected to be the second largest market due to increasing consumer preference towards functional and nutritional food products.
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