The global collagen market size is expected to reach USD 16.7 billion by 2028, expanding at a revenue-based CAGR of 9.0%, according to a new report by Grand View Research, Inc. The growth in the market can be attributed to the 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 38% as of 2020, 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 the fishing industry in India and China has attracted gelatin manufacturers in the Asia Pacific to use fish as 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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