According to MarketsandMarkets, the global collagen peptides market size is estimated to be valued at USD 631 million in 2021 and is projected to reach USD 828 million by 2026, recording a CAGR of 5.6% during the forecast period in terms of value. It is driven by increasing consumers inclination toward healthy products. Furthermore, rising demand for collagen peptides for medical applications and increase in usage of collagen peptides in cosmetic and personal care products is expected to fuel the market for collagen peptides.
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The collagen peptides market is majorly driven by the increase in usage of these peptides in various end-use applications, such as nutritional products, food & beverages, pharmaceuticals, and cosmetics & personal care products. Furthermore, consumer inclination toward a healthy lifestyle and an increase in protein intake is expected to drive the growth of the collagen peptides market. The Asia Pacific region is projected to be the fastest-growing region in the collagen peptides market. The region has witnessed significant demand for collagen peptides in nutritional products, such as dietary supplements and sports nutrition and food & beverage products, such as beverages, dairy, snacks, soups & sauces, and meat products.
Europe dominated the global collagen peptides market. The dominance is attributed to factors such as the region’s large-scale production and consumption of collagen-infused food and beverages, dairy, and confectionery products, which are fueled by food & beverage manufacturers focused on product innovation through collagen peptides as the major ingredient. It is largely driven by factors such as presence of major collagen peptides product manufacturers, such as Tessenderlo Group (Belgium), GELITA AG (Germany), Gelnex (Brazil), Lapi Gelatine S.p.a. (Italy), Weishardt (France), Ewald-Gelatine (Germany), Collagen Solutions plc (UK), among others.
Based on application, the nutritional products segment is estimated to dominate the collagen peptides market by 2021. Collagen peptides are now increasingly used by manufacturers in the production of dietary supplements, as collagen peptides contain amino acids, which are individual building blocks of proteins. The functional and health benefits of collagen peptides drive the innovation of the ingredient. Furthermore, consumers are demanding healthy aging products that are increasing their interest in supplements for skin, joint, and bone health.
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Based on form, the dry segment is estimated to dominate the collagen peptide market by 2021. The dry segment is the most widely used as it can be easily incorporated into various kinds of products, such as beverages, cosmetics, beauty, and personal care.
Among various types of sources, the bovine segment is estimated to dominate the market for collagen peptides. The usage of collagen peptides is witnessing a surge in various applications. Bovine is the most widely accepted source of collagen, which can be utilized to extract collagen peptides. Porcine, on the other hand, has certain cultural restrictions. Bovine sources are the most easily available and thus have the largest share in the global market by source. There is significant growth of bovine during the forecast period.