The collagen market is expected to witness remuneratively strong growth by 2027 owing to the high product usage across various application avenues such as cosmetics, healthcare, food, nutraceuticals and others. Collagen is a protein that is responsible for keeping out joints healthy as well as upholding our skin’s elasticity.
The collagen market is bifurcated in terms of product, source, dosage form, application and regional landscape.
Based on product, the collagen market is divided into peptide and gelatin. In 2020, the collagen market for peptides segment held market share of nearly 40% and is estimated to register robust growth over the coming time period.
With respect to source, the collagen market is classified marine, porcine, bovine and others. The others segment is expected to grow with a CAGR of 6.1% over the forecast time period.
Talking of dosage form, the market is segmented into capsule, liquid, powder, and others. Capsule segment is estimated to witness more than 7.8% CAGR over the projected time period. The rising consumption of bone and joint health supplements will drive the segmental growth.
While, the others segment is slated to grow at a CAGR of 6.2% over the analysis timeline
In terms of application, the overall market for collagen is categorized into healthcare, cosmetics, nutraceuticals, food and others.
The food segment is further categorized into bakery & confectionery products, dairy products, snacks & cereals, and others. The others application segment is poised to grow at a CAGR of 7.7% over the assessment time period.
Collagen market for nutraceuticals application is likely to witness a decent CAGR of over 8.8% through the forecast time period. Nutraceuticals segment is further classified into functional food, dietary supplements, and others.
Collagen market for dietary supplements will witness robust demand owing to the increasing adoption of collagen as protein supplement among consumers. In 2020, the functional food application segment was valued at more than $102.7 million and is expected to witness strong growth over the coming time period. The others segment will showcase a CAGR of more than 8.3% through the projected time period.
Meanwhile, the cosmetics application segment is bifurcated into hair care, skin care, and others. Among these, the hair care application will witness a CAGR of 7.2% over the coming time period. Collagen could aid in repairing the damaged hair while replenishing hair loss by promoting hair growth.
The healthcare segment is bifurcated into wound care, dental, orthopedic and others. Collagen market for dental application is likely to expand at a CAGR of 8.5% throughout the review period.
The others segment was valued at $26.7 million in 2020 and is forecasted to progress at rapid pace over the projected period.
On the regional front, Latin America collagen market currently has a share of over 10% and is expected to witness healthy growth over the coming period. This growth is ascribed to the rise in consumption of animal protein products.
While the, collagen market in MEA is estimated to witness more than 6.4% CAGR over the projected time period.