New York, USA, Oct. 20, 2021 (GLOBE NEWSWIRE) -- According to the report published by research Dive, the global collagen peptides market is expected to generate a revenue of $1,169.5 million by 2027, growing rapidly at a CAGR of 8.1% during the forecast period (2020-2027). The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Market
Drivers: There has been an increasing demand for collagen peptides in the food and beverage industry, and hence they are usually used as a thickener or clarifying agent in alcohol and fruit juices. In addition, high protein content in collagen products makes it extremely ideal for all the health-conscious people across the globe. These factors are expected to drive the growth of the collagen peptides market during the forecast period.
Restraints: Extensive prevalence of alternative products is expected to impede the growth of the market during the forecast period.
Opportunities: Growing R&D activities for the development of innovative products based on consumer preferences are expected to create massive opportunities for the growth of the market during the forecast period.
Segments of the Market
The report has divided the collagen peptides market into various segments based on source, application and region.
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Source: Bovine Source Sub-segment to be Most Profitable
The bovine source subs-segment accounted a CAGR of 40.4%, and is further predicted to grow exponentially during the forecast period. Extensive utilization of bovine animal’s organs like ligaments, skin, bones, and other parts, owing to their easy availability is expected to bolster the growth of the sub-segment during the forecast period.
Application: Food and Beverage Sub-segment to be Most Lucrative
The food and beverage sub-segment are expected to be grow expeditiously at a CAGR of 7.7% during the forecast period. Collagen peptide products are widely used in the food and beverage industry due to the incredible adoption capacity and immaculate texturizing and thickening properties of collagen peptides. This factor is expected to accelerate the growth of the collagen peptides market sub-segment during the forecast period.
Region: North America to Dominate the Market
The North America collagen peptide market is expected to grow rapidly at a CAGR of 8.6% during the forecast period. Increasing application of collagen peptides in the healthcare industry for the development of regenerative drugs are expected to drive the growth of the market in this region. In addition, increasing prevalence of health-conscious people and meat eaters in this region are further expected to bolster the growth of the collagen peptides market during the forecast period.
COVID-19 Impact on the Market
The outbreak of coronavirus has had an adverse impact on the growth of the global collagen peptides market during the forecast period, owing to the decreased consumption of meat among people during the pandemic. This consequently decreased the demand and production of collagen peptides fish and beef waste were the prime raw materials for collagen products. Thus, the pandemic has had a negative impact on the global collagen peptides market.
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Key Players of the Market
The prominent players of the market include
- GELITA AG
- GELNEX
- Amicogen
- Holista Colltech
- Darling Ingredients
- Tessenderlo Group
- Collagen Solutions Plc
- FOODMATE Company Ltd.
- Ewald-Gelatine GmbH
- Nitta Gelatin India Limited, and many more.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in June 2020, Nestle Health Science, a company engaged in advancing the role for nutritional therapy in the management of people’s health, entered into an agreement to acquire Vital Proteins, a global manufacturer of collagen-based foods, beverages and supplements, in order to enter a growing area of nutrition with a successful brand.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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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