TMR’s report based on the global collagen market predicted the growth at a CAGR of 9.4% over the forecast period from 2015 to 2023. With the vigorous CAGR, the market is expected to attain a value of US$9.37 bn by 2023 from a value of US$4.13 bn in 2014.
Based on the source, the bovine collagen segment dominated by registering the consumption of 30-kilo tons of collagen in the overall market in the year 2014. Additionally, the porcine collagen segment accounted for 27.4-kilo tons of global consumption in the collagen market in the same year. However, the market for marine collagen segment is expected to expand at the highest CAGR of 11.6% from 2015 to 2023 in terms of volume. Based on the region, North America and Europe collectively accounted for a 60% share in the global collagen market in 2014. This is attributable to the high awareness about the numerous benefits of these products in the region.
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Widening Applications of Collagen-based Products to Propel Market’s Growth
The global collagen market is witnessing growth on the back of vast applications of the collagen, especially across the food and beverages industry along with healthcare and pharmaceuticals. Additionally, collagen-based products offer superior properties than normal products such as gelling, improved binding, and improved emulsification properties. High demand for products with these improved properties is likely to drive growth of the global collagen is market.
Moreover, collagen has a key application during manufacturing gelatin; thus, the demand for gelatin mainly in the production of jellies, desserts, and chewing gums is growing substantially. This demand is a key factor propelling growth of the collagen market. Additionally, demand for the hydrolyzed collagen is expected to increase from healthcare industry mainly due to high adoption of the tissue engineering and bone grafting. Additionally, rising incidences of dental surgeries coupled with the use of high-quality collagen in cosmetic surgeries are propelling growth of the global collagen market. Rising incidences of the anti-aging treatments and rejuvenating ingredients are expected to fuel growth of the global collagen market in the coming years.
Extensive Applications of the Collagen-based Products in Healthcare to Boost Growth
The need for collagen supplements coupled with enhanced use of the collagen mainly in the drug delivery system and medical devices supporting growth of the market. In addition, effectiveness of collagen for wound healing and adaptability for minimally invasive operating techniques are driving growth of the collagen market. Moreover, collagen-based products are used in the treatments of the cardiovascular diseases and obesity cases; rising obese population globally is driving growth of the global collagen market. Furthermore, it has widened applications across the strengthen nails and teeth, heal leaky gut, reduce joint pains and degeneration, protect against cardiovascular disorders, and improve liver health are offering opportunities for growth in the global collagen market in the coming years.
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The global collagen market is highly fragmented, Transparency Market Research (TMR) examined during their detailed study. The presence of numerous small and local players in the market has led to an increase in the fragmentation of the market. Collagen Solutions plc, Kyeron B.V., Medtronic plc, Nippi, Inc., botiss biomaterials GmbH, and Collagen Matrix, Inc are dominating the global collagen market. Additionally, new entrants and small players are emerging as a tough competition to well-established market players as they offer products at competitive prices.
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