Various health benefits offered by hydrolyzed collagen, rise in adoption of hydrolyzed collagen in the pharmaceutical industry, and growing use of hydrolyzed collagen in the food & beverage industry are the major drive the growth of the global hydrolyzed collagen market
PORTLAND, Oregon, Nov. 19, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Hydrolyzed Collagen Market by Form (Liquid, Powder, and Capsules) and Application (Food, Health & Nutrition, Pharmaceuticals, Cosmetics, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global hydrolyzed collagen industry was pegged at $928.1 million in 2018 and is projected to reach $1.47 billion by 2026, registering a CAGR of 5.9% from 2019 to 2026.
Major motives for market growth
Various health benefits offered by hydrolyzed collagen, rise in adoption of hydrolyzed collagen in the pharmaceutical industry, and growing use of hydrolyzed collagen in the food & beverage industry are the major drivers for the growth of the global hydrolyzed collagen market. However, high manufacturing cost hampers the market growth. On the contrary, surge in adoption of hydrolyzed collagen in nutritional cosmetics and use of hydrolyzed collagen in functional foods are expected to create lucrative opportunities in the near future.
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Liquid hydrolyzed collagen segment to manifest the fastest CAGR through 2026
The liquid segment is projected to manifest the fastest CAGR of 6.4% during the forecast period, owing to rising consumer concern their physical appearance and desires to get beauty from within. However, the powder segment held the largest share in 2018, contributing more than two-fifths of the market, as it can be easily digested and absorb in the body and it is tasteless in nature, thus can be added to coffee, tea, or water.
Health and nutrition segment dominated the market
The health and nutrition segment dominated the market in 2018, contributing nearly two-fifths of the market. The change in the lifestyle and unapt food habit of consumers that leads to high demand for the dietary supplement, which in turn boosted the growth of the segment. However, the cosmetics segment is estimated to register the fastest CAGR of 7.1% during the forecast period. Cosmetics improves the appearance of hair by enhancing volume, texture & suppleness of hair, repairs the damaged skin, serum and cream to prevent moisture loss to the skin, which increases the growth of the segment.
North America held the lion's share
The market across North America held the largest share in 2018, accounting for around one-third of the market, owing to busy lifestyles and improper food habits along with the rising health issues in the region. However, the market across LAMEA is projected to portray the fastest CAGR of 7.0% during the forecast period, owing to increase in consciousness of ingredients in products, rise in demand for ethical and natural cosmetics in countries such as Brazil.
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Major market players
- Nitta Gelatin, Inc.
- GELITA AG
- FOODMATE CO., LTD.
- Hainan Zhongxin Chemical Co., Ltd. (ZXCHEM)
- SUBONEYO Chemicals Pharmaceuticals P Limited
- Naturin Viscofan GmbH
- Essen Nutrition
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