As per the report published by The Brainy Insights, the global marine hydrolyzed collagen market is expected to grow from USD 984.64 million in 2021 to USD 1976.52million by 2030, at a CAGR of 8.05% during the forecast period 2022-2030. North America region emerged as the largest market for the global marine hydrolyzed collagen market with a 39.21% share of the market revenue in 2021. The increasing acceptance of collagen in various applications as dietary supplements is propelling the market’s growth during the forecast period in this region. Additionally, the boost in the marine hydrolyzed collagen initiative is growing the market growth in the region during the forecast period. In addition, the Asia Pacific region is expected to show the fastest CAGR growth over the projection period due to the rising demand for health supplements products and beauty products in the region.
Leading companies in the industry include Ashland, Croda International Plc., Beyond Biopharma Co. Ltd, Collagen Solutions Plc., Weishardt Holding SA, Rousselot, GELITA AG, and Titan Biotech, and among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The application segment is divided into food & beverages, cosmetics & personal care, healthcare, and others. The cosmetics & personal care segment led the market with a market share of 34.13% in 2021. This growth is attributed to the rising usage of cosmetic products & increasing awareness about the advantages associated with the aid of marine hydrolyzed collagen in cosmetics products. Furthermore, the growing customer spending capabilities and the popularity of skin surgeries have expanded the product demand globally, boosting the segment’s growth in the market.
The increasing demand for chemical-free food & beverage and personal care & cosmetics products from the millennials from developing & developed countries is propelling the marine hydrolyzed collagen market’s growth. Further, the increasing demand in the cosmetic & personal care industry due to its advantages for skin & hair growth is stimulating the growth of the marine hydrolyzed collagen market. Moreover, the proliferation in the sales of marine hydrolyzed collagen-based supplements and the expanded customer awareness also help boost the market growth.