Collagen Market is expected to reach $4.6 billion by 2023by Mit K. SEO
The collagen market, in terms of value, is estimated to account for nearly USD 3.5 billion in 2018 and projected to grow at a CAGR of 5.2%, to reach nearly USD 4.6 billion by 2023. This is due to the growth of the food & beverages industry as manufacturers are using collagen in their food items to increase the protein content in the final product. Busy lifestyles have driven the food manufacturing industry to produce new products that could meet the rise in demand from consumers, which in turn, drives the overall collagen market.
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Key players that have a strong presence in the collagen 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).
On the basis of product type, the gelatin segment is estimated to dominate the collagen 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.
Collagen in the form of gelatin is high in protein, fat-free, cholesterol-free, and low in calories, which makes it a label-friendly ingredient that consumers know and trust. It is a key functional ingredient in many food products. It is also an important component in confectionery items such as marshmallows, gummy candy, and fruit snacks. The dairy industry makes extensive use of gelatin in the manufacture of sour cream, yogurt, ice cream, cheese, and specialty desserts, while meat processors depend on the binding properties of gelatin for the production of specialty meats, pates, and luncheon meats. Thus, these factors are projected to drive the collagen market.
Europe is estimated to account for the largest market share in the collagen market in 2018. The region has witnessed many collagen-infused drinks launched by the manufacturers, such as cappuccino collagen and soy collagen. They are either marketed as components of protein blends or in combination with fruits. The rising usage of collagen in wide varieties of food items and beverages along with the changing consumer preferences are accelerating the market growth. Moreover, the preference for minimally invasive or non-invasive technologies and the increasing use of collagen by biomedical industries in the developed countries are further driving the market growth.Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=220005202
Created on Oct 26th 2020 06:46. Viewed 203 times.