Marine Collagen Market: Nutraceutical segment to grow at highest rate

The global market for marine collagen has grown exponentially in the last few years. The market is estimated to be valued at USD 620.3 million in 2018 and is projected to reach USD 897.5 million by 2023, growing at a CAGR of 7.7%.

The market is strongly driven by the growing millennial population, shifting consumer preferences, augmentation of beauty and personal care industry, and increase in supplementary income among consumers. The convergence of major industry trends is giving rise to new opportunities for key players in the industry, as the market size is witnessing substantial increase.

Marine collagen helps fight the formation of wrinkles, accelerate the skin renewal process, and maintain the structure and strength of the hair. This makes it the most preferred ingredient in cosmetic products, especially for skin-care and hair-care applications. The usage of marine collagen is expected to propel at a robust pace, as consumers are becoming increasingly aware of the benefits offered by the beauty and personal care industry.

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Emerging economies such as India, China, and Brazil are the potential primary markets. Factors such as the growing inclination toward healthy lifestyles among consumers and high protein consumption have significantly fueled the demand for marine collagen due to its various health benefits such as regeneration of skin & bones and better bioavailability as compared to other collagen types.

The marine collagen market is witnessing growth owing to the growth in demand for beauty products, increase in the number of R&D activities, innovations in the medical field, technological advancements, and by-product utilization and processing due to the growth of the fish processing industry.

Nutraceutical segment is projected to grow at highest rate during the forecast period. On the basis of application, the marine collagen market is segmented into nutraceuticals, cosmetics, medicals, and others. The nutraceuticals segment is projected to grow at the highest CAGR among all marine collagen applications from 2018 to 2023. Marine collagen is often taken as a direct dietary supplement due to its high protein content and its overall benefits such as bone growth promotion and anti-aging properties.

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The key market players adopted strategies such as expansions & investments, acquisitions, and partnerships to meet the growing demand for marine collagen. Major players such as Ashland (US), Darling Ingredients (US), Nitta Gelatin (Japan), Gelita (Germany), and Weishardt Group (France) collectively accounted for a majority of the global marine collagen market. Other players in the market include Amicogen, (South Korea), Nippi, Incorporated (Japan), Seagarden (Norway), ChinaPeptide (China), Vital Proteins (US), Connoils (US), BHN (Japan), Beijing Taiaitai Biotechnology (China), and ITALGELATINE (Italy).

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