The marine collagen market was valued at USD 581.3 Million in 2017. It is projected to reach USD 897.5 Million by 2023, growing at a CAGR of 7.7% from 2018.
Northbrook, IL -- (SBWIRE) -- 04/19/2018 -- The report "Marine Collagen Market by Type (Type I, Type II, Type III), Source (Skin, Scales, & Muscles, Bones & Tendons), Animal (Fish & Other Animals), Application (Nutraceuticals, Cosmetics, Medical), and Region - Global Forecast to 2023", The marine collagen market is estimated to be valued at USD 620.3 Million in 2018 and is projected to reach USD 897.5 Million by 2023, growing at a CAGR of 7.7%.
Browse 83 market data Tables and 58 Figures spread through 159 Pages and in-depth TOC on "Marine Collagen Market - Global Forecast to 2023"
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The market is driven by factors such as increasing protein consumption, inclination toward personal care & health supplements, and increase in R&D activities. Moreover, the rising prevalence of health-related problems is a key factor driving the market for marine collagen in the medical & pharmaceutical industry. An increase in the consumption of processed and health-based food products has been driving the marine collagen market growth. Additionally, the demand for processed food products in developing regions is driven by the increase in disposable income.
In terms of type, the type I segment is expected to lead the marine collagen market from 2018 to 2023
The type I segment dominated the market, by type, and is projected to grow at the highest CAGR from 2018 to 2023. Type I collagen is characterized by its capability of healing wounds and acts as a foundation for strong connecting tissue. Apart from the medical benefits, Type I marine collagen also finds applications in cosmetics as it helps in preventing any signs of skin aging.
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The skin, scales, and muscles segment is projected to grow at the highest CAGR, by source, from 2018 to 2023
Skin, scales, and muscles are majorly used for the extraction of marine collagen across the globe as they are rich sources of proteins. Fish collagen derived from scales helps in wound healing as it plays a key role in tissue building. Due to its various advantages, manufacturers are switching to these sources for the extraction of marine collagen.
The nutraceuticals segment projected to grow at the highest CAGR, by application, from 2018 to 2023
Nutraceuticals are taken as health supplements for increasing immunity, bone health, personal care, and other benefits. Consumers are getting increasingly aware of the health benefits related to marine collagen. One of the key drivers for the growing use of marine collagen in nutraceuticals is the inclination of end consumers toward sports nutrition and weight management.
Asia Pacific is projected to be the fastest-growing region during the forecast period
Manufacturers use marine collagen for various beauty and health supplements in the Asia Pacific due to abundant availability of raw materials and religious beliefs toward porcine and bovine collagen. The region's improved lifestyle over the past decade and the need for dietary & therapeutic food followed by advancements in the food & beverage industry have presented opportunities in terms of new applications and usage of marine collagen.
An increase in the demand for food & dietary supplements, increased usage of marine collagen in health supplements, and growth of the functional foods industry are the major factors driving the growth of the Asian marine collagen market for application in nutraceuticals.
This report includes a study of business strategies, along with the product portfolios of leading companies. More than 9 developments were tracked for the 13 companies in the marine collagen market. It includes the profiles of leading companies such as Ashland (US), Darling Ingredients (US), Nitta Gelatin (Japan), Gelita (Germany), Weishardt Group (France), Amicogen, (South Korea), Nippi, Incorporated (Japan), Seagarden (Norway), ChinaPeptide (China), Vital Proteins (US), Connoils (US), BHN (Japan), Taiaitai (China), and ITALGELATINE (Italy).
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