Collagen Supplement Market Geriatric Population to Boost Growth 2030

According to the Market Statsville Group (MSG), theglobal collagen supplement market was valued at USD 2,026.8 million in 2021 and is projected to reach USD 3,694.9 million by 2030, registering a CAGR of 6.9% during the study period (2022-2030). Collagen supplements are popular among weightlifters and regular fitness enthusiasts as they help them to maintain the health of the skin and bones. The collagen supplement market's growth can be attributed to the rise in diseases such as rheumatoid arthritis, arthritis, and other inflammatory bone diseases, which has encouraged consumers to inculcate special supplements to keep themselves agile.

In addition, the easy availability of supplements owing to the improvement in retail infrastructure has been beneficial to the sales of nutraceuticals. However, collagen supplement's high cost and the growing adoption of veganism act as the major restraint of the market.

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Collagen supplements fall in the category of products that are purchased by consumers frequently. Therefore, the demand for such products remains consistent among customers. However, the outbreak of the coronavirus has very marginally affected the growth of the collagen supplement market across the globe. This decline in the growth of the collagen supplement market is majorly attributed to the disruption of the supply chain and halt in the production and processing of supplements due to social distancing being practiced around the world.

Global Collagen Supplement Market Definition

Collagen supplements symbolize as dietary supplements used to address collagen deficiency in the diet. The supplement is usually derived from the bones and skin of animals and fishes. It comes in various including pills, gummies, powder, forms, and drinks.

Global Collagen Supplement Market Dynamics

Drivers: Changes in lifestyle and growing demand for good-for-you products

The growth in the number of working population has rendered people to have less time to prepare meals at home. The growing trend of consuming highly nutritious food has encouraged people to consume more meat products and supplements. Such factors, coupled with the rise in expenditure in good-for-you products, such as collagen peptides, bone broth, and multivitamins, have increased demand for various sources of dietary supplements worldwide.

Restraints: Adoption of veganism

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Veganism is the practice of discontinuing from the use of animal products such as meat and dairy. This associated philosophy rejects the commodity status of animals. This form of diet includes the use of plant-based milk and use of vegetables for nutrition. Veganism has become very popular in many countries and is particularly popular in the fitness community. A large number of people today have adopted a vegan lifestyle as it is said to have health benefits such as cancer prevention, weight loss, increased energy levels, and more. The adoption of veganism has a bad effect on the sales of animal products. It has been one of the major restraints for the meat and dairy industry and to some extent, the nutraceuticals industry.

Global Collagen Supplement Market Segmentation

The study categorizes the collagen supplement market based on source, form, sales channel, and region.

By Source Outlook (Sales, USD Million, 2017-2030)

• Marine & Poultry
• Porcine
• Bovine

By Form Outlook (Sales, USD Million, 2017-2030)

• Pills & Gummies
• Powder
• Liquid/Drinks

By Sales Channel Outlook (Sales, USD Million, 2017-2030)

• Pharmacy
• Specialty Store
• Online Store

By Region Outlook (Sales, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

The bovine segment is projected to have the largest market share, by source

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Depending on the source, the collagen supplement market is categorized into marine & poultry, porcine, and bovine. The bovine segment was the prominent segment in 2021, and the segment had a market share of 40.5% in the global collagen supplement market. Collagen derived from bovine cattle, such as cows, is known as bovine collagen. Bovine collagen is used mainly in the biomedical field to treat various medical conditions.

Bovine collagen supplements are used to facilitate tissue recovery. They strengthen the connective tissues and prevent injury caused by repetitive motion. The collagen supplement of bovine origin is very popular among bodybuilders and athletes. This is the primary reason behind the growing sales of this segment in the global market.

Asia Pacific accounts for the highest CAGR during the forecast period

Region-wise, the collagen supplement market is studied across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Worldwide, Asia Pacific is the fastest-growing region with a CAGR of 7.6% during the forecast period (2022-2030). The countries studied in the Asia-Pacific region include China, India, Japan, South Korea, Australia, and the rest of Asia-Pacific. Asia-Pacific is one of the fastest-growing regions, which is supplemented by improvement in infrastructure and convenience in setting up new businesses.

The high economic growth in the Asia-Pacific countries has influenced the lifestyle and consumption patterns of the people in this region. People in this region have started spending more on healthy food, supplements, and meat-based products. As a result, the consumption of collagen supplements in this region has substantially increased over the years. Asia-Pacific has witnessed significant development in the food industry, which is expected to fuel the growth of the nutraceuticals market. Collagen supplement is in its nascent stage in the Asia-Pacific region and is expected to gain traction further as more people adopt and inculcate supplements in their diets

Key Market Players in the Global Collagen Supplement Market

Changing lifestyles and a rise in concern regarding health and beauty are encouraging consumers to seek for non-invasive and effective solutions. So, they are investing in R&D activities and making a continuous effort to launch new improved ingredients for nutraceutical producers to help them in meeting the rising global demand for improved nutritional supplements.

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Major players in the global collagen supplement market are:

• Further Food
• Glanbia Plc.
• Codeage LLC.
• Hunter & Gather
• Optimum Nutrition, Inc,
• BIoTechUSA
• TCI CO., LTD.
• Vital Proteins LLC
• Shiseido Co. Ltd
• The Clorox Company
• Nature's Bounty Co.

Article source: https://article-realm.com/article/Finance/22616-Collagen-Supplement-Market-Geriatric-Population-to-Boost-Growth-2030.html