Rise in demand for good-for-you products, expansion of the food & beverages industry, and growth of the retail market drive the global collagen supplement market
Allied Market Research published a research report on the collagen supplement market. The findings of the report state that the global market for collagen supplement generated $1.82 billion in 2019, and is expected to garner $3.01 billion by 2027, witnessing a CAGR of 6.9% from 2021 to 2027.The report offers valuable information on evolving market trends, major segments, top investment pockets, and key competitors for market players, investors, shareholders, and new entrants.
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Shankar Bhandalkar, the Team Lead Research, Food and Beverage at Allied Market Research, highlighted, “The rise in desires of consumers for leading active lifestyle, maintaining mobility and remaining healthy at all ages drive their concern toward the awareness of joint and bone health. Collagen supplement is sourced from natural sources such as fish, beef, and more. Also it is non–allergic, highly digestible, and packed with essential amino acids including hydroxyproline, glycine, and proline that are helps repair and keep the bones and joints healthy. Thus, this factor encourages its adoption of the dietary supplements.”
The report provides a detailed analysis of market drivers, restraints and opportunities to assist market players to strategize and capitalize on new opportunities.Rise in demand for good-for-you products, expansion of the food &beverages industry, and growth of the retail market drive the global collagen supplement market.On the other hand, adoption of veganism impedes the market growth. However, rise in awareness regarding collagen supplementation presents new opportunities in the upcoming years.
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The research provides a detailed scenario regarding the impact of the Covid-19 pandemic on the collagen supplement market across the globe. Collagen supplement manufacturing activities have been hampered as a result of facility lockdowns imposed by governments in a large number of countries.Furthermore, the supply system was disrupted, and obtaining raw materials was difficult.During the lockdown, the distribution of collagen supplements was hampered by the closure of specialty stores and the prohibition of deliveries through online channels.During the post-lockdown period, manufacturing activities are anticipated to resume at full capacity.Additionally, the supply chain would be restored, and distribution would resume.
The report offers a detailed analysis of segments of the global collagen supplement market. These segments includepower station type, end use, and region. This analysis assists new entrants, investors, and market players as they can determine the fastest growing and highest revenue-generating segments for determining growth strategies for the next few years.
By source, the bovine segment dominated the market share in 2019, contributing tomore than two-fifths of the global collagen supplement market, and is estimated to continue its lead position during the forecast period. This is attributed to collagen supplement being very popular among bodybuilders and athletes. However, the marine & poultry segment is expected to grow at the highest CAGR of 7.1% from 2021 to 2027.
By sales channel, the pharmacy segment led the global collagen supplement marketin terms of revenue, accounting for more than two-fifths of the market share in 2019, and is expected to continue its dominance during the forecast period. This is owing to the fact that pharmacies areoften consideredmore trusted source to acquire medication and supplementation The online store segment, however, is anticipated to portray the fastest CAGR of 7.5% from 2021 to 2027.
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By region, North America held the major market share in terms of revenue in 2019, accounting for more than one-third of the total market share, and is anticipated to maintain its lead share by 2027. However, Asia-Pacific is expected to grow at the largest CAGR of 7.6% during the forecast period.This is attributed to increase in adoption of healthy food & supplements in this region.
Leading players of the global collagen supplement market analyzed in the research includeBioTechUSA,Optimum Nutrition, Inc, TCI CO., LTD., Vital Proteins LLC, Further Food, Shiseido Co. Ltd, Hunter & Gather, Nature’s Bounty Co., The Clorox Company, and Codeage LLC.
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