According to FMI reports, the global Collagen peptide market is expected to grow by nearly US$ 705 Mn by 2023. This is with a substantial CAGR of 5.7% expected over the forecast period, which is projected to reach over US$ 1227.24 Mn by the end of 2033.
As the world shifts toward western lifestyles, food habits are changing, and purchasing power increases, the market for collagen peptide is growing quickly. The elasticity and durability of collagen peptide is likely to lead to their popularity among consumers as they rejuvenate skin, cartilage, shoulders, and bones.
The application of active peptides in personal care and nutrition cosmetics has been improved through research and biotechnology. Additionally, collagen-based supplements are becoming increasingly popular as a way to prevent aging and improve skin and hair health.
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Key Takeaways from the Collagen peptide Market Study
- North America dominates the market for collagen peptide.
- The collagen peptide are expected to increase at a notable CAGR of 5.7%.
- Asia Pacific region is expected to grow at the fastest rate with an increased revenue share.
- An increase in awareness of personal care and health among people has increased the use of personal care products and dietary supplements.
Competitive Landscape for the Collagen peptide Market
There has been a rise in the level of competition in the collagen peptide market, which is highly fragmented. Different players are deploying organic and inorganic growth strategies to compete for market share.
As a result, vendors are forced to adopt various growth strategies, such as promotional activities and advertisements, to increase the visibility of their products. Additionally, some vendors have adopted inorganic growth strategies such as mergers and acquisitions to remain competitive.
Darling Ingredients (US), Tessenderlo Group (Belgium), Holista Colltech (Australia), GELITA AG (Germany), Ewald-Gelatine (Germany), Lapi Gelatine S.p.a. (Italy), Gelnex (Brazil), Nitta Gelatin (Japan), Collagen Solutions plc (UK), Weishardt Group (France) and others, the market is growing and establishing a strong global presence.
Recent Developments in the Collagen peptide Market
- Lonza announced in April 2021 that its undenatured collagen ingredient line, as well as its non-GMO certified UC-II supplement, were both expanded. To secure USDA organic certification, formulators must achieve 95% organic material in the finished product, which is why the new Non-GMO UC-II made with organic collagen contains 93% organic ingredients.
- A Chicago-based manufacturer of collagen-based foods, beverages, and supplements, Vital Proteins, has been acquired by Nestle Health Science. Since buying a majority stake in Vital Proteins in June 2020, the company has experienced “amazing growth” due to consumer interest in collagen-based products over the past two years.
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Collagen Peptide Market by Category
By Application Type, the Collagen Peptide Market is Segmented as:
- Nutritional Products
- Cosmetics & Personal Care Products
- Food & Beverages
- Pharmaceuticals
By Source, the Collagen Peptide Market is Segmented as:
- Marine & Poultry
- Bovine
- Porcine
By Form, the Collagen Peptide Market is Segmented as:
- Dry
- Liquid
By Region, the Collagen Peptide Market is Segmented as:
- North America
- Latin America
- Europe
- The Middle East and Africa
- East Asia
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