Increased Demand For Marine Collagen – Market Global Forecast (2019-2023) & Trends
Collagen is the most prominent protein in the body, and plays a vital role in the function of nearly all of the body’s organs and tissues. With the growing popularity of protein and beauty supplements, collagen is making a major comeback. Consumer desire to lead a healthier lifestyle has fueled the demand for collagen.
Key applications of collagen include cosmetics, healthcare, and food and beverages.
The global collagen peptide market is estimated to value at nearly US $1 Billion and the first five-year cumulative revenue from 2019 to 2023 is projected to be more than US $5 Billion.
Why Is Marine Collagen Preferred Over Other Sources?
Marine collagen is known for having better bioavailability and digestibility than collagen sourced from other types of animals due to its low molecular weight. Marine collagen is up to 1.5 times more efficient than bovine, porcine, and other collagen sources, and it boasts superior absorption due to the smaller size of the peptides. It is also rich in amino acids like glycine and proline. Marine collagen is mostly made up of type I collagen, an essential building block for strong, supple skin. Other collagen sources are primarily rich in type II collagen, which is good for the joints.
Outlook of the Marine Collagen Market
It’s an exciting time to invest in marine collagen because of the market’s size and expected future growth. The global market for marine collagen has expanded significantly in recent years, and marine collagen is expected to witness the fastest growth over the forecast period. The Asia Pacific market dominates the global marine collagen market, particularly in developing economies like China, India, and Malaysia. This is followed by growth in Europe, Latin America, the Middle East, Africa, and North America, respectively.
The marine collagen market has been estimated to be valued at US$520 Million in 2018 and is projected to reach US$897 Million by 2023, growing at a CAGR of 7.7%. The market’s expansion can be attributed to the growth of the fish processing industry, the increased demand for beauty products, and growing awareness of the health benefits of marine collagen. Some of the challenges that this market faces are high import duties and processing costs.
Due to the increased demand for marine collagen globally, scarcity of supply and increased prices for raw materials are increasingly of concern for companies in the beauty and health collagen supplement business. RenewAlliance Inc., the exclusive North America distributor for the popular Taut® Collagen drink and related products, has recently reported experiencing increased costs and ingredient supply challenges for their premium marine collagen derived from wild-caught red snapper fish scales. In order to address this problem, Renewalliance Inc DBA TautUSA has secured sufficient supply of the key premium collagen ingredient to ensure there will be no disruption to their ability to meet the increased consumer demand in North America.