DUBAI, United Arab Emirates, Nov. 17, 2022 (GLOBE NEWSWIRE) -- The global collagen supplements market is predicted to showcase opulent growth opportunities over the projection period by exhibiting a CAGR of 6.4% throughout the projection period from 2022 to 2032. The global market is predicted to expand its reach from USD 1.5 Bn in 2022 to US 2.8 Billion in 2032, according to Future Market Insights. Growth in the market is attributed to the surging consumer awareness of various health benefits connected with collagen supplements including muscle, joint, and bone health, as well as the fact that it is a cost-effective option, which has resulted in consumers opting for collagen supplements at a faster rate.
Amidst the Covid-19 pandemic, several regions have been impacted adversely. The imposition of lockdowns in major countries disrupted their supply chains greatly. The pandemic further affected the market by closing businesses and other retail outlets temporarily. In addition to that, farmworkers and logistics providers also suffered severe consequences.
Despite all the industries being worst hit by the pandemic, wholesalers and exporters were able to find new and creative ways to increase productivity and improve safety protocols because of this pandemic. The growing preference for collagen supplements is attributed to efficiently managing medical costs. Due to these aforementioned factors, the global collagen supplements market propelled significantly and has historically grown at a significant growth rate of around 5.2%.
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A growing middle-class population along with a rising import demand for collagen has been facilitated by the emergence of nutritional awareness. It is considered to have significantly surged the market for collagen supplements. Various consumers are rapidly incorporating collagen supplements in order to keep themselves healthy and away from conditions such as inflammatory bone diseases, arthritis, and rheumatoid arthritis. Furthermore, income level and age group play a significant role in collagen supplement purchasing decisions.
The introduction of new distribution channels, scientific evidence to support the claims, and increasing consumer consciousness are anticipated to drive collagen supplement sales. According to the data from the United Nations population, Europe consists of the world’s largest aging population, with one in every four People in Europe aged 60 and up. Germany, Italy, France, Spain, Denmark, and other major European countries have the highest proportion of an aging population.
Key Takeaways
- The market for collagen supplements is expected to be driven by a rising preference for supplements that helps in reducing medical costs. As per the assumptions, it has been predicted that increased consumer awareness and the development of new delivery forms will fuel collagen supplement sales over the coming years. Furthermore, the scientific evidence supporting the claims of the company is expected to be introduced which will further bolster collagen supplement sales over the forecast period.
- Pharmacy is known as the most sustainable distribution channel type for all sorts of collagen supplements, which further leads to an increase in customer demand for collagen supplements in the market. Furthermore, a significant rise in the demand for collagen supplements, gummies, and pills has also gained popularity in the market. There is rising demand for flavored gummies by consumers which is further driving growth in the market.
- Collagen builders are derived from plants and have a host of potential benefits that do not have any side effects. Supplements extracted from plants that help in building collagen are authentic collagen boosters, which are known as natural ingredients that comprise vitamins and minerals and are able to naturally increase the production of collagen in the body. These factors could further grow the market for plant-based collagen supplements in the market.
- According to Future Market Insights analysis, healthcare costs have more than doubled over the last few years, due to the growing spending on R&D activities by key players in the medical industry. Growing healthcare costs are influencing consumers to choose health supplements, which provide medical benefits such as relieving pain, and preventing or reducing cartilage breakdown and joint pain.
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Competitive Landscape
Key players in the collagen supplements comprise a limited manufacturing capacity with product manufacturing plants situated close to the raw material sources, this has resulted in low prices of raw materials.
Key Companies Profiled in Collagen Supplements Market are Ancient Nutrition, Nitta Gelatin Inc., Darling Ingredients Inc., Koninklijke DSM N.V., CONNOILS LL, Collagen Matrix, Titan Biotech Ltd, Protein SA, Life Extension, GELITA AG, Weishardt, Tessenderlo Group NV, LAPI GELATINE S.p.a., ITALGELATINE S.p.A., Trobas Gelatine B.V.
More Insights into the Collagen Supplements Market
The North American region is expected to dominate the global collagen supplements market due to the presence of investing opportunities, combined with the increases in consumer consciousness of the skin potential health benefits with collagen supplements, which has led key supplement manufacturers to laterally integrate with the introduction of collagen-based products in the US.
Collagen Supplements Market By Category
By Product Type, the Collagen Supplements Market is Segmented as:
- Gelatin
- Hydrolyzed
- Native
By Form, the Collagen Supplements Market is Segmented as:
- Powder
- Liquid
- Pills & Gummies
By Source, the Collagen Supplements Market is Segmented as:
- Bovine
- Porcine
- Marine & Poultry
By End-use, the Collagen Supplements Market is Segmented as:
- Nutritional Products
- Snacks & Cereals
- Dairy Products
- Beverages
- Meat & Poultry
- Bakery & Confectionery
By Sales Channel, the Collagen Supplements Market is Segmented as:
- B2B/Direct Sales
- B2C/Indirect Sales
- Modern Trade
- Traditional Grocery Stores
- Convenience Stores
- Specialty Stores
- Online Retail Stores
- Others
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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