The hydrolyzed collagen market, valued at approximately US$ 825 million in 2018, is projected to become a billion-dollar industry by 2021, continuing to grow at a compound annual growth rate (CAGR) of around 8% from 2019 to 2029, according to a report by Transparency Market Research (TMR). This market is thriving due to increasing interest in preventive healthcare, which bridges the gap between the food, nutraceutical, and pharmaceutical sectors. As the emphasis on addressing nutritional deficiencies grows, the popularity of hydrolyzed collagen has surged, extending beyond traditional food and beverage applications into areas such as cosmetics and personal care.
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Preventive Healthcare and Industry Convergence
The shift towards preventive healthcare has significantly influenced the hydrolyzed collagen market. Nutritional inadequacies are now being addressed through diet, with hydrolyzed collagen playing a crucial role. The blurring lines between food, nutraceutical, and pharmaceutical industries, often referred to as the 'food-pharma' convergence, are driving this trend. Consumers are increasingly seeking products that provide health benefits beyond basic nutrition, fueling the demand for hydrolyzed collagen.
The cosmetics and personal care industry has also capitalized on this trend, incorporating hydrolyzed collagen into skincare and hair care products. This strategic move aims to harness collagen’s benefits for skin elasticity and hair strength. However, manufacturers must navigate regulatory challenges to ensure compliance with food claims and consumer information standards.
Market Diversification and Challenges
The hydrolyzed collagen market is diversifying as manufacturers explore new sources for collagen extraction. Traditionally, bovine-sourced collagen dominated the market, but marine-sourced collagen has gained traction due to its superior water solubility, skin-enhancing properties, and lower environmental impact. In 2019, bovine-sourced hydrolyzed collagen generated around US$ 350 million, while marine-sourced collagen is expected to grow at a CAGR of approximately 11% from 2019 to 2029.
Despite these advancements, the market faces challenges from the rising vegan trend. Google Trends reported a 90% increase in vegan-related searches in 2016, particularly in Australia and North America. This shift in consumer preference towards plant-based diets has led to the development of vegan collagen, produced by genetically modifying yeast and bacteria. Vegan collagen offers cost-efficiency and a high safety profile, posing a potential threat to animal-based hydrolyzed collagen.
Product Forms and Consumer Preferences
In terms of product forms, powdered hydrolyzed collagen led the market in 2018 with sales valued at around US$ 265 million, compared to US$ 135 million for liquid hydrolyzed collagen. Consumers prefer powdered collagen due to its longer shelf life, high bioavailability, and perceived purity. It is also cost-effective and offers flexible dosing options, further driving its popularity.
However, liquid hydrolyzed collagen is gaining momentum due to its higher absorbability, making it more effective than powdered and tablet forms. The liquid form is expected to grow at a CAGR of approximately 10% during the forecast period.
Distribution Channels and Market Reach
Distribution channels significantly influence consumer purchasing behavior. The safe transit of powdered hydrolyzed collagen makes it a popular choice for online sales, while liquid collagen is often sold through B2B and B2C channels such as hypermarkets, supermarkets, drug stores, pharmacies, and specialty supplement stores. Despite the rise in online and direct-to-consumer (B2C) sales, B2B channels remain crucial due to partnerships with end-use industries like food and beverages, nutraceuticals, pharmaceuticals, and cosmetics.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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