The global collagen market size is expected to reach USD 7.5 billion by 2027, expanding at a revenue-based CAGR of 6.4%, according to a new report by Grand View Research, Inc. The growth in the market can be attributed to high demand for collagen in cosmetic surgeries and wound healing treatments. Increasing consumer spending capacities coupled with the popularity of skin surgeries has propelled product demand across the world.
Bovine, porcine, poultry, and marine are the four main sources required for manufacturing collagen. Collagen from bovine source accounts for a substantial share of 35% as of 2019, as opposed to other sources, on account of the abundance of bovine sources and relatively lower price as compared to marine and porcine sources. Marine is superior to that of bovine or porcine sources, owing to its high absorption rate and bioavailability. However, the product obtained from marine costs relatively higher than from bovine and porcine, which is expected to restrain the growth of the segment.
The gelatin segment dominated the market in 2019 owing to the substantial demand for the product as a food stabilizer. The growth of fishing industry in India and China has attracted gelatin manufacturers in the Asia Pacific to use fish as a raw material for gelatin production. The market for hydrolyzed collagen is also anticipated to register the fastest growth over the forecast period, backed by its increasing use in the healthcare sector for tissue repair and dental applications. Increasing efforts by the companies for using hydrolyzed collagen in the treatment of bone related disorders, such as osteoarthritis have favored the growth of the segment.
The key applications for the product include food and beverages, healthcare, and cosmetics. Healthcare emerged as the largest application segment of the industry in 2019 and is forecasted to retain its dominant position over the forecast period. The food and beverage industry is expected to be a major contributor to the demand for gelatin and hydrolyzed collagen, as the product is an essential protein for the human body and has multiple nutritional, skin, and health benefits.
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Further key findings from the report suggest:
- The collagen market size is anticipated to reach USD 7.5 billion by 2027, at a revenue-based CAGR of 6.4% from 2020 to 2027
- In terms of revenue, the marine source segment is projected to ascend at a CAGR of 7.3% over the forecast period
- In terms of volume, cosmetic surgery and wound healing emerged as the largest healthcare application segment in 2019, owing to its ability to treat chronic wounds as they inhibit the action of metalloproteinase
- Asia Pacific is projected to witness a remarkable growth rate of 6.6% in terms of volume, in the near future, owing to the increasing consumption of healthcare and cosmetic products in the region
- Some of the key players operating in the industry include Koninklijke DSM N.V.; Collagen Matrix; CONNOILS LLC; Rousselot BV; and Advanced BioMatrix, Inc.