New York, USA, April 12, 2023 (GLOBE NEWSWIRE) -- According to the latest report published by Research Dive, the global collagen peptides market is predicted to rise at a tremendous CAGR of 6.66%, thereby garnering a revenue of $1,224.4 million in the 2022-2030 timeframe. This integrated report presents a brief outlook of the current framework of the collagen peptides market including its cardinal features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2022-2030. All the necessary market figures are also provided in this report to help new entrants analyze the market easily.
Dynamics of the Market
Drivers: In the past few years, there has been an increase in demand for collagen peptides as a healthy supplement for skin betterment. This increased demand is expected to become the primary growth driver of the collagen peptides market in the forecast period. Moreover, growing demand for collagen peptides in developing countries is expected to help the market grow substantially in the forecast period.
Opportunities: A surge in the usage of active substances for skin health protection is predicted to offer numerous growth opportunities to the market in the forecast period. Along with this, growing use of collagen peptides for muscle recovery is estimated to push the market forward.
Restraints: Market analysts are however skeptical about the full-paced growth of this market owing to availability of alternatives such as kidney beans, which might prove to be a restraint for the collagen peptides market.
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Impact of Covid-19 on the Market
The novel coronavirus had wreaked havoc in the world. The lockdowns put in place to curb the virus affected various industries and their production cycles. The collagen peptides market, too, has been significantly affected by the pandemic. The disruptions in global supply chains led to irregular supply of collagen peptides which ultimately reduced their consumption. This, in turn, brought down the growth rate of the market in the forecast period.
Segments of the Market
The report has divided the collagen peptides market into certain segments based on source, application, and region.
Source: Bovine Sub-segment to be Highly Dominant
The bovine sub-segment is expected to be one of the most dominant sub-segments and gather a revenue of $476.4 million by 2030. Wide utilization of bovine animals' organs such as bones, ligaments, and other body parts for extraction of collagen peptides is predicted to boost the growth of this sub-segment in the forecast period.
Application: Food & Beverage Sub-segment to Generate Significant Revenue
The food & beverage sub-segment is expected to have a huge market share and generate a revenue of $332.9 million during the analysis timeframe. The growing use of collagen peptides in foods and beverages due to their ability to easily get absorbed in the digestive track is predicted to push the sub-segment forward in the forecast period.
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Market in the North America Region to be the Most Profitable
By regional analysis, the collagen peptides market in North America region is expected to grow at a CAGR of 6.18% by 2030, thereby becoming the most profitable sub-segment. Growing popularity and demand for collagen peptide as a source of energy and nutrition is expected to be the main growth driver of the market in the forecast period.
Prominent Market Players
Some of the 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
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a prominent position in the market.
For instance, in October 2022, Darling Ingredients, an animal food manufacturing industry, announced the acquisition of Gelnex, a leading manufacturer of collagen. This acquisition by Darling Ingredients is predicted to boost the market share of the company exponentially in the coming period.
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Finally, the report also summarizes many crucial aspects of the global market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
More about Collagen Peptides Market:
- Amazing Health Benefits of Collagen Peptides That You might be Unaware of!
- Global Collagen Peptides Market to Perceive Widespread Growth with Growing Awareness about Skin Health
