(Entertainment-NewsWire.com, April 19, 2024 ) In the ever-evolving landscape of health and wellness, the global collagen industry is witnessing an unprecedented surge, with remarkable growth projections on the horizon. Valued at USD 5.1 billion in 2023, the market is anticipated to escalate to USD 7.4 billion by 2030, boasting a robust compound annual growth rate (CAGR) of 5.3% during the forecast period. This surge is driven by a convergence of factors spanning health and wellness trends, an aging population seeking remedies for age-related concerns, and the integration of collagen into various industries.
Marine Collagen Emerges as Frontrunner
The marine segment within the collagen market is poised for remarkable growth, boasting the highest CAGR in the upcoming forecast period. Marine collagen has swiftly emerged as the frontrunner, owing to its sustainability, high bioavailability, and versatility in applications. Derived from fish by-products, marine collagen aligns with growing environmental consciousness, while its efficiency in supplementation and rich composition of type I collagen make it nutritionally superior. With ongoing research driving innovation, marine collagen remains at the forefront of this thriving market.
The nutritional products segment within the collagen market emerged as a pivotal force in 2022, steering the market's momentum. Escalating demand for collagen in nutritional products worldwide is fueled by a growing awareness of its role in maintaining skin elasticity, joint health, and overall vitality. As health-conscious lifestyles become ingrained globally, collagen's versatile presence in various forms has made it a staple in daily dietary routines, further driving its prominence in the nutritional products market.
US Maintains Dominance in North American Market
The US is poised to maintain its dominant position within the North American collagen market throughout the forecast period. Collagen's extensive use in the medical and pharmaceutical domains, coupled with its role in dietary supplements and nutraceutical ingredients, contributes to its significant presence in the region. Additionally, the convenience food industry's rapid growth presents promising prospects for collagen-based products, aligning with consumer preferences for convenient and nutritionally sound options.
Key players in the market, including Darling Ingredients, Ashland, Tessenderlo Group, Gelita AG, Nitta Gelatin INC, and Titan Biotech., are driving innovation and shaping the future of the collagen industry. Their relentless pursuit of excellence ensures continuous advancement and meets the evolving needs of consumers across diverse industries.
As the global demand for collagen-based products continues to surge, fueled by health-conscious consumers seeking natural solutions, the collagen industry remains poised for dynamic growth and innovation.
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