The latest market estimate report published by Transparency Market Research on the global hydrolyzed collagen market includes a global industry analysis and opportunity assessment of the hydrolyzed collagen market for forecast period of 2019-2029. Revenue generated from the global hydrolyzed collagen market has been estimated to be valued at ~US$ 870 Mn in 2019, which is projected to increase at a CAGR of ~8% during the forecast period. The global hydrolyzed collagen market is projected to reach ~ US$ 1.8 Bn by 2029.
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Rising Social Awareness of Personal Well-being to Boost Demand for Nutraceuticals
Nowadays, individuals are becoming more aware of healthy lifestyles and nutritious food, which has increased the demand for dietary supplements. In case of personal well-being, consumers are preferring protein-oriented and nutritious food that help prevent age-related diseases such as high blood pressure, diabetes, cholesterol, etc., and improve health conditions. The number of health-conscious consumers is increasing, and they are focusing on exercising and weight management. The consumption of nutraceuticals is increasing among elderly individuals, sportsperson, and athletes, as they are a rich source of proteins and vitamins. According to the European Nutraceuticals Association, lack of nutrition accounts for ~39% of the deaths in developing nations such as China, India, and Brazil. To minimize these deficiencies, governments of multiple countries have started an initiative to provide protein-rich food to the poor population, free of cost, as well as nutraceuticals are available at reasonable prices in supermarkets.
Hydrolyzed collagen or collagen hydrolysates are manufactured by the breaking of complex collagen peptides into a desired length of collagen peptide with the help of controlled enzymatic hydrolysis. Such a structure of hydrolyzed collagen has higher bioavailability, and hence, is used in nutraceuticals and dietary supplements that are prescribed for the treatment of arthritis, heart disease, digestive disorders, some skin-related disorders, and many other health indications.
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Increasing Use of Hydrolyzed Collagen in Food & Beverage Industry
Various innovative hydrolyzed collagen products have been recently launched in the market, such as collagen coffee, hot chocolate, etc. Confectionery products such as jellies and gummies were launched in the Asia Pacific market. Innovative products such as potato chips, risotto, and ice cream are launched, for which hydrolyzed collagen is a primary ingredient. Even in bakery products, hydrolyzed collagen is used in a large scale. Hydrolyzed collagen is easily digestible, hence, its usage in the food & beverage industry is increasing rapidly. The use of hydrolyzed collagen in unique products is driving market growth.
Rigorous Research & Development Activities in Wound Healing & Regenerative Medicine
The use of hydrolyzed collagen in various medical devices and drugs is growing due to its characteristics such as easy availability, biodegradability, positive effect on wound healing, and high absorption rates. The use of this product in wound healing is rising, owing to the increasing number of people suffering from geriatric and obese problems, worldwide, along with a rise in the prevalence of several chronic diseases such as diabetes. The use of hydrolyzed collagen in wound healing provides a lot of advantages in terms of stimulating tissue growth, and guarantees relief for different types of injuries. Furthermore, it reduces the occurrence of infections at the wounded area and minimizes irritation. The use of hydrolyzed collagen-based wound healing products is gaining utmost importance, and is likely to drive market growth.
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Major Players in Hydrolyzed Collagen Market Launching Innovative Products
Prominent players in the hydrolyzed collagen market are engaged in introducing innovations to meet the increasing demand for application-specific products. At the Food Ingredient South America (FISA), Rousselot, a global leader of gelatin and collagen peptides, showcased its new line of hydrolyzed collagen ingredient portfolio. It also introduced Peptan® IIm, a hydrolyzed collagen Type II matrix developed specifically for joint health. At the Vitafoods Europe 2018, Bioiberica presented two food supplements for joint and tendon health, out of which, one ingredient of the formula b-2cool® is hydrolyzed collagen.
Being well-aware of the increasing demand for hydrolyzed collagen in multiple industries, manufacturers in the hydrolyzed collagen market are engaged in introducing innovative products. The hydrolyzed collagen market shows a fragmented landscape with a considerable number of small- and mid-sized players. Further, the lower cost of the product and feasible manufacturing process allow new players to enter the hydrolyzed collagen market.
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Growing Concerns Regarding Animal Welfare
The number of individuals who are turning vegan or avoiding eating meat is increasing day by day, owing to the growing awareness of animal welfare. There are multiple NGOs that are working to prevent the exploitation of animals. Millennials are actively working with these NGOs. Also, numerous programs are being organized by these NGOs to promote veganism. Veganism is going mainstream, and this factor is becoming a restraint for the sales of hydrolyzed collagen products.