New York, USA, May 24, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global collagen peptides market is estimated to garner $1,169.5 million in revenue and grow at a healthy CAGR of 8.1% during the forecast timeframe from 2020 to 2027.
As per our analysts, with the increasing demand for collagen peptides from the food and beverages industry as it is the vital functional food component in many food items, the collagen peptides market is expected to witness progressive growth during the estimated period. Besides, the increasing awareness of health consciousness among individuals, which promotes the consumption of nutritional products is expected to upsurge the demand for collagen peptides over the analysis period. Moreover, the increasing government initiatives in promoting healthy diets and growing R&D activities to develop new customer-oriented products are predicted to create massive growth opportunities for the collagen peptides market during the forecast period. However, the availability of substitutes and strict regulations on the approval of animal-origin food may impede the growth of the market throughout the estimated period.
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Segments on the Collagen Peptides Market
The report has divided the market into segments based on source, application, and region.
Source: Bovine Sub-Segment to be Most Profitable
The bovine sub-segment held the maximum share of the market with 40.4% and is expected to continue steady growth during the analysis period. The increasing utilization of bovine animal organs, such as bones, ligaments, and many more, owing to the increasing consumption of cattle worldwide, is expected to foster the growth of the market sub-segment during the forecast period.
Application: Food & Beverage Sub-Segment to be Most Productive
The food & beverage sub-segment accounted for $278.6 million in 2019 and grow at a CAGR of 7.7% over the forecast timeframe. The increasing use of collagen peptides in the food and beverage industry due to their high absorbing capacity, texturizing and thickening properties, is projected to amplify the growth of the collagen peptides market sub-segment over the analysis timeframe.
Region: North America to Hold the Largest Market Share
The North America region of the collagen peptides market is predicted to grow at a CAGR of 8.6% and is expected to create immense investment opportunities for the market during the estimated period. This is mainly because collagen-based supplements are highly popular as an energy and nutritional source in this region. Furthermore, the increasing use of collagen peptides by the healthcare industry of this region to develop regenerative drugs for arthritis control is predicted to magnify the regional growth of the market over the forecast period.
Covid-19 impact on the Collagen Peptides Market
The outbreak of the novel coronavirus has had a negative impact on the collagen peptides market, likewise various other industries. This is mainly due to the decrease in the consumption of marine and bovine products all across the globe, as the major source of raw materials for collagen products are fish and beef waste. However, the innovative strategies made by leading market players to launch new products and ventures have increased the growth of the market during the period of crisis.
Post COVID-19 has Positive Impact on the Collagen Peptides Market. Get in touch with our Expert Analyst for More details@ https://www.researchdive.com/connect-to-analyst/389
Key Players of the Market
The major players of the global market include
- Collagen Solutions Plc
- Amicogen
- Darling Ingredients
- Nitta Gelatin India Limited
- Holista Colltech
- GELNEX
- Ewald-Gelatine GmbH
- Tessenderlo Group
- FOODMATE CO. LTD.
- GELITA AG, and many more.
These players are widely working on the development of new business tactics and strategies such as mergers and acquisitions, partnerships and collaborations, and product development to acquire leading positions in the global industry.
For instance, in February 2022, Nestlé Health Science, a leading science-driven company committed to redefining the management of health, acquired Vital Proteins, the renowned United States-based lifestyle, and wellness platform providing supplements, beverages, and food products. With this acquisition, the company is aiming to expand its brand geographically by promoting R&D activities and launching new collagen-based products. – Inquire here for more Details about Key Companies Development Strategy@ https://www.researchdive.com/purchase-enquiry/389
Further, the report also summarizes other crucial aspects including product portfolio, the financial performance of the key players, SWOT analysis, and the latest strategic development.
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