The global collagen gummy market value is poised for substantial growth, with projections indicating a valuation of US$ 247 million in 2023, set to escalate to US$ 378 million by 2033, showcasing a robust CAGR of 4.3%. Future Market Insights (FMI) presents key insights into the burgeoning collagen gummy industry, revealing trends, growth drivers, and market dynamics shaping its trajectory.
A study by FMI attributes the flourishing global collagen gummy market to rising consumer awareness of the convenience, palatability, and health benefits of collagen gummies. Key players are actively engaging in mergers and collaborations to develop innovative products and maintain their market dominance, ensuring a dynamic and competitive landscape.
Collagen gummies have emerged as a popular nutritional supplement, driven by growing awareness about their health benefits, convenience, and palatability. With surging demand for nutricosmetics and expanding e-commerce, the collagen gummy market is witnessing remarkable growth globally.
People worldwide are becoming aware about the health and cosmetic advantages of collagen supplement intake. As a result, demand for collagen gummies is rising significantly, and the trend is expected to continue through 2033.
Collagen gummies are believed to positively impact skin health, hair growth, joint health, and wound healing. This prompts people to consume these health supplements, bolstering their sales.
Rising health and wellness trends and interest in nutricosmetics will further boost the global collagen gummy industry. Similarly, new product launches and expanding e-commerce are expected to create growth prospects for collagen gummy companies.
Key companies are focusing on using celebrity endorsements to reach a wider audience and boost their sales. This will bode well for the target market.
“The global market for collagen gummies is expected to witness steady growth amid rising awareness about the benefits of collagen. Widespread advertising of processed collagen supplements by the manufacturers can be instrumental in boosting the popularity of collagen gummies in the low-income group countries,” says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).
Key Takeaways from the Global Collagen Gummy Market Study Report
- The global collagen gummy market is set to total US$ 378 million in 2033.
- By flavor type, the berry segment is projected to hold a value share of 34% in 2023.
- Based on functionality, promoting skin health segment will likely account for about 25% of market share in 2023.
- Demand for collagen gummies in India is anticipated to rise at a CAGR of 6.2%.
- The United States holds around 30.8% of the global market share.
- Sales of collagen gummies in the United Kingdom are predicted to increase at 5.6% CAGR through 2033.
- China is poised to exhibit a CAGR of 6.1% from 2023 to 2033.
Who is Winning?
The global collagen gummy market is highly consolidated, with most of suppliers concentrated in North America and Europe. However, the unavailability of sufficient sources of collagen in these regions is gradually shifting the business to Asian and African countries. This, in turn, has encouraged several regional collagen processing industries to enter the collagen gummy sector, which could diversify the market gradually.
Key players are adopting a wide variety of strategies to boost their sales and expand their global footprint. These include new product launches, mergers, celebrity endorsements, acquisitions, partnerships, and collaborations.
Recent Developments in the Collagen Gummy Industry:
- In June 2020, Novomins Nutrition Inc. introduced its new product line of collagen gummies for its consumers. The company claims that the gummies contain hyaluronic acid, biotin, and vitamin C and are devoid of gluten and GMOs, artificial coloring, or sweeteners.
- In November 2020, a new startup was established as the first cell-based collagen and Gelatin Company named Jellatech. The company was founded by Stephanie Michelsen and Kylie van Deinsen-Hesp, who claim to make gelatin and collagen using cellular agriculture and without animal products.
Key Segments Covered by Collagen Gummy Industry Survey Report
By Flavor Type:
- Berry
- Citrus
- Tropical
- Other Flavors
By Source:
- Bovine Animals
- Porcine Animals
- Marine & Poultry Animals
- Other Sources
By Functionality:
- Promoting Skin Health
- Supporting Hair & Nail Health
- Joint Health
- Wound Healing
- Bone Health
- Other Functionalities
By Sales Channel:
- Hypermarkets or Supermarkets
- Convenience Stores
- Specialty Retail Stores
- Drug Stores and Pharmacy Stores
- Online Retail Channels
- Other Retail Channels
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact FMI:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube