New York, USA, July 19, 2022 (GLOBE NEWSWIRE) -- According to the newly published Research Dive report, the global collagen peptides market is anticipated to rise at a stable CAGR of 6.66%, thereby garnering a revenue of $1,224.4 million in the 2022-2030 timeframe. This comprehensive Research Dive report presents a brief outlook of the current framework of the collagen peptides market including its priority features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2022-2030. The report also contains all the crucial market figures to help new entrants understand the market easily.
Dynamics of the Collagen Peptides Market
Drivers: Since the last few years, there has been an increase in demand for health supplements for skin betterment. This growth in demand is, in turn, expected to be the leading factor behind the growth of the collagen peptides market. In addition to this, increasing awareness among people regarding the need to lead a healthy lifestyle has led to an increase in consumption of health drinks with collagen peptides which is predicted to push the market further.
Opportunities: Increase in the incidence of chronic diseases such as hypertension, diabetes, obesity, etc. has led to an increase in demand for vitamin and protein supplements which is expected to offer huge growth and investment opportunities to the market. Moreover, the growth in demand for health supplements for skin betterment is predicted to augment the growth rate of the market significantly.
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Restraints: However, according to market analysts, the availability of alternatives to collagen peptides might become a restraint in the growth of the market.
Impact of Covid-19 on the Collagen Peptides Market
The Covid-19 pandemic had disrupted the routine lifestyle of people across the globe and the subsequent lockdowns had adversely impacted the industrial processes across all sectors. The collagen peptides market, on similar lines, had been negatively impacted by the pandemic and the subsequent lockdowns. Food shortages during the pandemic led to a decline in the demand and consumption of collagen peptides and thus led to a decline in the growth rate of the market.
However, the demand for collagen peptides is slowly increasing in the post-pandemic period. This recovery in the economy is predicted to help the market grow again in the forecast period.
Segments of the Market
The Research Dive report has fragmented the collagen peptides market across different segments such as source, application, and region.
Source: Bovine Sub-segment to be the Most Dominant
By source, the bovine sub-segment is expected to generate a yield of $476.4 million by 2030. Collagen peptides obtained from bovine source accounted for 40.4% of the market share as cattle meat is one of the most consumed meats around the world. Additionally, collagen peptides are extracted from various bovine animal organs such as ligaments, bones, etc. All these factors are expected to push this sub-segment higher in the forecast timeframe.
Application: Food & Beverage Sub-segment to have the Maximum Market Share
By application, the food & beverage sub-segment of the collagen peptides market is expected to have the largest market share and generate the highest revenue of $332.9 million by 2030. Collagen peptides are extensively used in food and beverages as they easily get mixed and absorbed in the digestive tracts. Hence, there is an increase in demand for collagen peptides from the food & beverage industry, which is predicted to boost this sub-segment in the forecast period.
Region: Collagen Peptides Market in the North America Region to be the Most Profitable
By regional analysis, the collagen peptides market in North America region is anticipated to be the fastest growing market and is predicted to grow with a CAGR of 6.18% by 2030. Collagen is very popular in the North America region as a great source of nutrition. Additionally, the pharmaceutical industry in this part of the world heavily uses collagen peptides as an important constituent of many drugs. Both these factors are expected to help the market in this region to grow substantially in the coming period.
Prominent Collagen Peptides Market Players
Some prominent players of the collagen peptides market are
- Tessenderlo Group
- Collagen Solutions Plc
- GELNEX
- Darling Ingredients
- Nitta Gelatin India Limited
- FOODMATE CO. LTD.
- GELITA AG
- Amicogen
- Ewald-Gelatine GmbH
- Holista Colltech, among others.
These players are introducing and coming up with new technological advancements and innovations to gain a primacy in the market. – Buy Full Report at $2999(Read-Only)
For instance, in February 2022, Nestle Health Science, a leader in nutritional science, announced the acquisition of Vital Proteins, a US-based collagen and other wellness supplements providing platform. This acquisition is predicted to help Nestle to increase its market share significantly in the near future.
Finally, this comprehensive report also summarizes many crucial facets of the collagen peptides market including product portfolio, latest strategic developments, financial performance of the key players, and SWOT analysis.
More about Collagen Peptides Market:
- Global Collagen Peptides Market to Perceive Widespread Growth with Growing Awareness about Skin Health
- Amazing Health Benefits of Collagen Peptides That You might be Unaware of!
