(MENAFN- Ameliorate Digital Consultancy)
The collagen supplements market is growing rapidly as more and more people become interested in the potential health benefits of collagen. Collagen is a protein that helps to maintain the structure of skin, hair, nails, and other connective tissues. Some people believe that taking collagen supplements can help improve joint health, reduce wrinkles and signs of aging, and promote weight loss.
The market for collagen supplements is expected to grow by about 8% per year over the next five years. This growth is being driven by increasing awareness of the health benefits of collagen, as well as by the launch of new products that make it easier than ever to get your daily dose of collagen.
Collagen supplements in the powdered have witnessed increased popularity due to ease of utilization, and this segment is projected to expand at a healthy 5% CAGR through 2031. Collagen supplements have anti-ageing properties and a large part of their demand is driven by word-of-mouth marketing. Manufacturers are investing on R&D exercises, new product launches, and expanding production capacities to cater rising demand for collagen supplements across regions.
While the COVID-19 pandemic led to worldwide lockdowns, affecting manufacturing plants and supply chains, industry development took a hit in 2020. Also, concerns regarding animal cruelty for acquiring collagens may limit market growth to some extent. However, rising product awareness with regards to advancing good health will stimulate product demand over the coming years. On the back of these factors, global sales of collagen supplements are expected to top US$ 3.9 Bn in 2031. According to the new report published by Persistence Market Research, the collagen supplement market is estimated to register a steady CAGR of around 6.5% over the forecast period of 2021-2031.
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Key Takeaways from Market Study
The market is considerably fragmented, resulting in moderate bargaining power of customers. Key players are marking their presence through collaborative partnerships with other leading global players. Persistence Market Research identifies South Asia and Europe as the largest markets for collagen supplements, with both regions holding more than 20% market share, respectively. Hydrolyzed collagen is projected to hold the highest market share by 2031, at over 46%. Mass brands account for a larger share as compared to the rest of the end-use segments. Powdered collagen supplements are the most-liked form, with a projected market share of around 40%. Liquid/drinks are seeing increased demand because of convenience of carrying and easy consumption; these are easy to add to smoothies, coffee, or even water. Sales of collagen supplements across China are slated to expand, in value, at a CAGR of over 9% from 2021 to 2031.
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Key Market Players
The report underlines groundbreaking insights into the competitive scenario of the collagen supplement market, along with the highlights of differential strategies used by manufacturers. Some of the key players identified across the value chain include Further, Inc., Glanbia PLC, Hunter & Gather Foods Ltd, Tci Co., Ltd., The Bountiful Company, The Clorox Company, Shiseido Company Limited, Amorepacific Corporation, The Protein Drinks Co., Asterism Healthcare, Hangzhou Nutrition, Biotechnology Co., Ltd., Aneva Nutraceuticals Ltd., Bottled Science Ltd., Bauer Nutrition USA, Wilmar Sugar Pty Ltd., Elavonne, Optimum Nutrition, INC, Vital Proteins LLC, Hunter & Gather, Nature'S Bounty Co., and Codeage LLC .
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