Diverse offerings, strategic collaboration, and acquisitions are the key trends prevalent in the global collagen peptide and gelatin market. Since the market is ancillary to industries such as pharmaceuticals, cosmetics, and personal care, it exhibits a dynamic landscape. Overall it experiences high competition with leading companies contending in terms of innovations and partnerships to achieve the top slot, finds Transparency Market Research (TMR) in a new study.
The leading market players are trying various tactics to strengthen their foothold in the global collagen peptide and gelatin market. For instance, companies such as Rousselot are participating international events to promote their product globally. Likewise, Nitta Gelatin, Inc., Catalent, Inc., and Gelita AG are looking at expanding their footprint globally via widening their product portfolio and increased funding in research & development and expanding sales. “Companies such as Amicogen, Inc., on the other hand are leveraging biotechnology and other environment friendly ways to gain traction,” said a lead TMR analyst.
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Besides helping enterprises gain competitive edge, these strategies have positive influence on the overall market operations. According to TMR, the global collagen peptide and gelatin market will exhibit a CAGR of 9.4% between 2016 and 2025. At this pace, the market’s valuation is likely to reach US$11.15 bn by the end of 2025, from US$4.52 bn in 2016.
Based on type, the Type I collagen segment held over 77.4% of the overall market value in 2016. Exhibiting a considerably high CAGR, the segment is projected to remain at the market’s fore through the forecast period. Regionally, North America and Europe together held the dominant share of 601% in the global collagen peptide and gelatin market in 2016.
Increasing Demand for Nutraceuticals Boosting Sales of Collagen Peptide and Gelatin
“The market is primarily gaining from the increasing nutraceuticals sales on account of the rising awareness regarding personal well-being among consumers worldwide,” observed the TMR report’s author. With people across the globe becoming more concerned about their health and lifestyle, the demand for dietary supplements has risen. Furthermore, an increasing number of consumers are seen opting for nutraceuticals to prevent age-related and lifestyle associated illnesses. Spurred by these factors, the global collagen peptide and gelatin market is witnessing an accelerated pace of gains. Considering this growth driver, the market will thus gain from the improving economic condition of consumers especially living across emerging nations.
In addition, the use of collagen in various drugs and medical devices has increased owing to its properties such as biodegradability, speeding wound healing, easy availability, and high absorption rate. In response to the rising obese and geriatric population, the use of collagen in wound healing has increased as well. This in turn has created lucrative opportunities for the market. With rapid commercialization of novel collagen-based drug delivery systems, the market is expected to gain momentum in the coming years.
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Risk of Disease Transmission from Bovines could Create Hindrances
On the downside, using collagen is often associated with the risk of disease transmission from bovine and porcine collagen sources. This is a key restrain inhibiting the market’s trajectory to an extent. Besides this, the market is reeling under the negative influence of social taboos restraining the uptake of collagen-based products.
Nevertheless, with the demand for minimally invasive surgeries increasing exponentially the demand for collagen peptide in drug delivery systems is likely to increase. In addition, the market is also expected to gain from the increasing demand for novel collagen sources. With this taboos and cultural beliefs related to collagen derived from animal sources can be eliminated. Collagen derived from maize and other synthetic sources will therefore creative lucrative market opportunities in the near future.