The global marine collagen market size is expected to reach US$ 1853.5 Bn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 6.80% CAGR between 2019 and 2029. According to the report, the marine collagen market is seeing growth as a result of increasing technical developments, increased R&D activities and increased demand for beauty products. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
It includes in-depth insights into the marine collagen market. Some of these are:
- The estimated value of the market was at US$ 960 Bn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- The need for nutrient retention and sensory qualities in foods has sparked growth in the marine collagen industry.
- Segment Type I is expected to rise to the highest CAGR.
- The skin and scales of both fresh and saltwater fish are the most suitable collagen source since they contain sufficient protein.
- The marine-collagen market dominated the Asia Pacific region.
- China is one of the main producers and exporters of different fish ingredients including marine collagen.
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“In order to gain competitive edge, the leading market players are likely to focus on strategic collaborations. In addition to this, they are expected to invest in product innovations and expanding their geographic reach,” said a lead analyst at FMI.
Coronavirus Outbreak Will Take a Toll on the Market’s Trajectory
Recently, the global epidemic of coronavirus has had serious economic implications for the marine collagen domain. China is directly faced with the problems caused by this outbreak, leading to supply chain instability, expected declines in revenue and revenues in all sectors. The adverse effect of the coronavirus outbreak on revenue has prompted many businesses to cancel their forecast plans for the second quarter in 2020 and possibly for the remainder of the year.
The most detrimental factor for income is the actual closing of the factories which are the major manufacturers and producers of these goods. Since many Chinese employees are free of foreign infection, and factories do not want to spread the virus any further, with many factories staying closed and on high alert as a way to continue reducing the virus spread. In the face of the epidemic, focusing on specific consumer trends and needs has helped keep companies afloat. Many companies have made substantial donations to find effective inoculation and treatment, and hope to reduce the time it takes for the industry to get fully back on its feet, as well as to look out for the consumer and help in global epidemics like this.
Who is Winning?
Some of the leading players in the global marine collagen market are Nitta Gelatin, Ashland, Darling Ingredients, Vital Proteins, BHN, Taiaitai, Intalgelatine, Nippi Incorporated, Weishardt Group, Gelita, Amicogen etc.
Acquisitions and product launches are some of the major strategies which key players in the global marine collagen market are adopting. By introducing new technology at a rapid pace, businesses are trying to establish their own mark in the industry. As a result, the number of product releases every each year.
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MARINE COLLAGEN MARKET TAXONOMY
The global Marine Collagen market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Skin, scales, and muscles
- Bones & tendons
- North America
- Latin America
- East Asia
- South Asia
Get Valuable Insights into Marine Collagen Market
Future Market Insights, in its new report, presents an unbiased analysis of the global marine collagen market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. The global marine collagen market is mainly segmented on the basis of animal type, source type, applications, and geography. On the basis of animal type, fish is the prominent segment comprising the market. On the basis of source type, key segments present in the global marine collagen market are bones & tendons, and skin & scales. Application wise, the key segments comprising the market are medical, cosmetics, and nutraceuticals, and others. Regionally, the market can be segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA.