portland, OR, April 21, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global collagen supplement market generated $1.82 billion in 2019, and is expected to garner $3.01 billion by 2027, witnessing a CAGR of 6.9% from 2021 to 2027. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, value chain, competitive landscape, and regional scenario.
Expansion of the food and beverages industry, increase in demand for good-for-you products, and growth of the retail market drive the global collagen supplement market. However, adoption of veganism hinders the market growth. On the other hand, increase in awareness regarding collagen supplementation presents new opportunities in the next few years.
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Covid-19 Scenario:
- Manufacturing activities of collagen supplements restrained due to the lockdown of facilities with lockdown measures implemented by governments in many countries. Moreover, the supply chain collapsed and procurement of raw materials presented many hindrances.
- The distribution activities of collagen supplements suffered restraints due to closure of specialty stores and ban on deliveries through online channels during the lockdown.
- The manufacturing activities are expected to begin with full capacity during the post-lockdown. Moreover, the supply chain would be restored and distribution activities will begin.
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The report offers detailed segmentation of the global collagen supplement market based on source, form, sales channel, and region.
Based on source, the bovine segment held the largest market share in 2019, accounting for more than two-fifths of the total share in 2019, and is estimated to continue its lead position during the forecast period. However, the marine & poultry segment is projected to portray the highest CAGR of 7.1% from 2021 to 2027.
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Based on sales channel, the pharmacy segment contributed to the highest share in 2019, holding more than two-fifths of the global collagen supplement market, and is projected to maintain its leadership status during the forecast period. However, the online store segment is expected to witness the fastest CAGR of 7.5% from 2021 to 2027.
Based on region, North America accounted for the highest market share in 2019, contributing to more than one-third of the total market share, and is projected to maintain its dominant share by 2027. However, Asia-Pacific is expected to grow at the largest CAGR of 7.6% during the forecast period.
Leading players of the global collagen supplement market discussed in the research include Optimum Nutrition, Inc., TCI CO., LTD., BIoTechUSA, Vital Proteins LLC, Further Food, Shiseido Co. Ltd., Hunter&Gather, Nature's Bounty Co., The Clorox Company, and Codeage LLC.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.