The report “Collagen Peptides Market by Source (Cattle Hide & Bones, Pigskin, and Poultry & Fish), Application (Nutritional Products, Snacks & Cereals, Dairy Products, Beverages, and Meat & Poultry Products), and Region – Global Forecast to 2023″, The global collagen peptides market is estimated at USD 772.3 million in 2018 and is projected to reach USD 1,337.0 million by 2023, at a CAGR of 11.6% during the forecast period. The market is driven by factors such as the wider application of collagen peptides and increased incidences of bones & joint relate diseases. Collagen peptides are widely used in various applications such as beverages, dairy, sports nutrition, snacks & cereal, meat & poultry, and personal care products. The varied applications of collagen peptides, coupled with the growing demand for functional food & beverage and sport nutrition products, drive the market growth.
Browse 77 market data Tables and 37 Figures spread through 120 Pages and in-depth TOC on “Collagen Peptides Market – Global Forecast to 2023”
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The global collagen peptides industry is growing significantly owing to consumer inclination towards healthy lifestyles and increasing protein consumption. Over the last few years, consumer awareness about healthy food products has been fueling the market for nutritional food products. Consumers are increasingly focusing on healthy aging, not only to increase their life expectancy but also to prevent and postpone the onset of bone-related diseases.
With the rising consumer awareness related to collagen peptides and nutritional labels, there is a shift in demand from processed to nutritious and functional food. This shift in buying patterns has resulted in a higher demand for healthy foods and supplements, which, in turn, attracts various manufacturers to offer new food products that have functional properties. Consumer preference for healthy diets is witnessed due to the rising health concerns, coupled with changing lifestyles. This has led to an increase in the demand for collagen peptides for use in nutritional food products such as sports nutrition food products, energy drinks, and protein drinks.
The collagen peptides market has been segmented on the basis of source into cattle hide & bone, pigskin, and poultry & fish. The cattle hide & bone segment is projected to grow at a high CAGR from 2018 to 2023. Food & beverage manufacturers use collagen peptides to meet the growing consumer demand for healthy nutritional products in the global market. Collagen peptides sourced from cattle hide & bones are considered beneficial for strong DNA and RNA strands. They also help in healthy muscle growth and aid in energy production during workouts.
Based on application, the collagen peptides market has been segmented into nutritional products, beverages, dairy products, snacks & cereals, meat & poultry products, and others. The nutritional segment is projected to grow at a higher CAGR from 2018 to 2023. Collagen peptides are considered a major source of protein that originates from collagen. Due to their various chemical and nutritional properties, collagen peptides are combined with other ingredients for a variety of healthy food & beverage products. Collagen peptides, due to their high binding properties, are used as a partial glucose replacer in protein bars.
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In terms of value, Asia Pacific is projected to be the fastest-growing region in the collagen peptides market. The region’s improved consumer lifestyles over the past decade and the need for dietary & fortified food followed by advancements in the food & beverage industry have presented opportunities in terms of new applications and usage for collagen peptides. Another factor is the densely populated countries of the region that are not completely tapped by collagen peptide companies. China and India have witnessed major growth in the collagen peptides market, acquiring a significant share in the region.
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