Northbrook, IL -- (SBWIRE) -- 12/06/2021 -- The collagen market is estimated to account for nearly USD 3.5 billion in 2018 and is projected to reach a value of nearly USD 4.6 billion by 2023, at a CAGR of 5.2%. The rising demand for convenience food and increasing awareness of collagen in the medical and healthcare industries are the major driving factors for the market. On the other hand, the cultural restrictions due to the usage of animal skin are projected to hinder the market growth.

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The gelatin segment is estimated to dominate the global market in 2018.

By product type, the gelatin segment is estimated to dominate the global market in 2018. Gelatin is widely used in foods to improve elasticity, consistency, and stability. It also helps to normalize gut hormones in obese people. Thus, due to rising health awareness, gelatin is being preferred by food manufacturers to produce nutritious food products. Gelatin is increasingly used in the food & beverage industry to make gummy candies, puddings, confectionery, and gelatin desserts. It is also added in sauces and soups to thicken the consistency and provide a better product to the consumers.

The bovine segment is estimated to account for the largest share in the market in 2018.

By source, the bovine segment is estimated to account for the largest share in the collagen market in 2018. Bovine collagen is found in cows; it is a naturally occurring protein present in the cartilage, connective tissues, bones, and hides of cows. The collagen present in cows is similar to the collagen present in human bodies. Bovine collagen is rich in type I and III collagen. This type of collagen benefits the nails, skin, tendons, eyes, hair, muscles, bones, and blood vessels. It is high in protein content and has features such as enhanced water solubility and low molecular weight. As a result, manufacturers are increasingly using it in the food & beverage industry, to offer more nutritious products to their consumers.

The pharmaceutical & healthcare segment is projected to grow at the highest CAGR during the forecast period in the market.

By application, the pharmaceutical & healthcare segment is estimated to grow at the highest CAGR during the forecast period. Factors such as changing lifestyles and increasing population of working women are driving the demand for ready-to-eat collagen globally. Collagen has a wide range of applications in the medical & pharmaceutical sector due to its ability to reconstruct the bone. They are widely used in plastic surgeries, burn care, orthopedics, wound care, dentistry, and cardiovascular practices. The increasing health and medical issues have led to the increasing use of collagen in medical applications.

The ROW market is projected to grow at the highest CAGR during the forecast period.

The ROW market is projected to witness the fastest growth during the forecast period. The collagen market in these regions is witnessing significant growth due to the growth of the cosmetic industry. Rising per capita income, improved standard of living, and a growing number of working women have increased the sales of cosmetics. There has also been a significant demand among male consumers for cosmetics and grooming products on a regular basis, which has reflected positively on the growth of the collagen market.

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The key players in this market include Gelita AG (Germany), Nitta Gelatine, Inc. (US), Weishardt Group (France), Darling Ingredients (US), Nippi Inc. (Japan), Vinh Hoan Corporation (Vietnam), Juncà Gelatines, S.L.(Spain), Lapi Gelatine S.p.a. (Italy), Gelnex (Brazil), Vital Proteins (US), Baotou Dongbao Bio-Tech Co., Ltd. (China), RABJ Co., Ltd (Japan), Connoils (US), Nutra Food Ingredients (US), and Italgelatine S.P.A (Italy). These players are focusing on improving their presence by undertaking acquisitions, expansions, and developing products specific to the requirements of consumers and their preferences. These companies have a strong presence in Europe and North America.

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