Collagen powder supplements have grown in popularity due to their ease of use, and this segment is expected to grow at a healthy 5% CAGR through 2031. Collagen supplements have anti-aging properties and much of their demand is driven by word-of-mouth marketing.
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Manufacturers are investing in R&D exercises, new product launches, and expanding production capabilities to meet growing demand for collagen supplements in all regions. As the COVID-19 pandemic has resulted in global lockdowns, affecting manufacturing plants and supply chains, the development of the industry has been affected in 2020. Additionally, concerns about animal cruelty for the acquisition of collagens may limit the growth of the market to some extent. However, the growing product awareness in regards to promoting good health will drive the demand for products in the coming years.
Based on these factors, the global sales of collagen supplements are expected to exceed US $ 3.9 billion in 2031. According to the new report released by Persistence Market Research, the collagen supplements market is expected to register a stable CAGR of around 6.5% compared to the forecast period 2021-2031.
Key takeaways from market research
The market is considerably fragmented, resulting in moderate negotiating power of clients. Key players are making their presence felt through collaborative partnerships with other leading global players.
Persistence Market Research identifies South Asia and Europe as the largest markets for collagen supplements, with the two regions respectively holding more than 20% market share.
Hydrolyzed collagen is expected to hold the highest market share by 2031, at over 46%.
Mass brands represent a larger share compared to the rest of the end-use segments.
Collagen powder supplements are the most popular form, with a projected market share of around 40%. Liquids / beverages are in increased demand due to the convenience of transportation and ease of consumption; these are easy to add to smoothies, coffee, or even water.
Sales of collagen supplements across China are forecast to increase, in value, at a CAGR of over 9% from 2021 to 2031.
“Growing health awareness, particularly due to the COVID-19 pandemic, has boosted sales of nutraceuticals,” says an analyst from Persistence Market Research.
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Key market players
The report highlights breakthrough insights into the competitive scenario of the Collagen Supplements market, along with the highlights of the differential strategies employed by the manufacturers. Some of the key players identified along the value chain include Further, Inc., Glanbia PLC, Hunter & Gather Foods Ltd, Tci Co., Ltd., The Bountiful Company, The Clorox Company, Shiseido Company Limited, Amorepacific Corporation, The Protein Drinks Co., Asterism Healthcare, Hangzhou Nutrition, Biotechnology Co., Ltd., Aneva Nutraceuticals Ltd., Bottled Science Ltd., Bauer Nutrition USA, Wilmar Sugar Pty Ltd., Elavonne, Optimum Nutrition, INC, Vital Proteins LLC, Hunter & Gather, Nature’S Bounty Co. and Codeage LLC.
Learn more about report inclusions.
Persistence Market Research has released a new market report on Collagen Supplements market, covering the global industry analysis from 2016-2020 and forecast for 2021-2031. This research report provides compelling information based on product, type, form, source, application and sales channel, in all major regions of the world.
The report also includes forecasting factors and vital macroeconomic factors that are expected to drive the growth of the global market. It also discusses the restraints that are expected to hamper the growth of the market, as well as the latest trends and potential opportunities in the market.
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Collagen Powder Supplements Market @ https://www.persistencemarketresearch.com/mediarelease/collagen-supplements-market.asp
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