Collagen Market Estimated to Record Highest CAGR by 2028

Collagen Market Outlook 2028

  • The global collagen market was valued at US$ 4.7 Bn in 2020
  • It is estimated to expand at a CAGR of 5.5% from 2021 to 2028
  • The global collagen market is expected to reach the value of US$ 7.1 Bn by the end of 2028

Analysts’ Viewpoint on Collagen Market Scenario

The import & export of collagen is projected to rise, owing to the increase in shipment and demand for personal care & cosmetic products via eCommerce during the ongoing COVID-19 crisis. However, bovine and porcine collagen are associated with adverse events in consumers. Hence, companies in the collagen market should increase investment in R&D efforts to develop products that reduce incidence of such events. Presence of high-end manufacturing capabilities and constant rise in applications have also majorly contributed to the flourishing market for collagen in North America and Europe. In addition, Asia Pacific is witnessing an increased level of involvement of government bodies toward raising awareness about the health benefits of collagen.

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Preference for Purified Gelatin in Spinal Fusion Surgeries

Manufacturers of collagen-based products are launching new products in order to provide enhanced treatment options for wound care and orthopedic applications. Prominent manufacturers of gelatin for pharmaceutical, food, and nutrition industries are announcing the launch of first-of-its-kind purified and phenol-functionalized gelatin.

Companies in the collagen market are innovating in bone graft matrices. These bone graft matrices are intended to provide scaffold for a patient to grow a new bone and are primarily used in spinal fusion surgeries.

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Companies to Improve Local Production Capabilities for Robust Supply amid COVID-19 Crisis

Global supply chains are set for a major overhaul as the COVID-19 crisis has exposed the vulnerability of countries and companies in the collagen market that rely heavily on the limited number of trading partners. Hence, manufacturers in the collagen market are bolstering their local production capabilities to reduce dependence on other countries for raw materials and other products. Several multinational companies (MNCs) have already started re-evaluating their supply chains, and are in the process of shuffling their supply chains to reduce concentration in a handful of countries. The market is likely to witness a surge in prices for raw materials due to its limited availability, which may ultimately increase final pricing of collagen-based products.

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Comprehensive Applications of Collagen Fueling Market Growth

Rising use of collagen in medical devices and drug delivery systems, preference for minimally invasive technologies, and effectiveness in wound healing are expected to be some of the key factors driving the global demand for collagen in the upcoming years. Easy availability of a number of collagen sources and low antigenicity of the material grant collagen important in a number of industries such as pharmaceuticals, food & beverages (F&B), and cosmeceuticals.

The high and rising demand for a variety of collagen products in the field of wound healing will play a major role in the overall development of the collagen market in the next few years. The high demand for a biodegradable material in the wound healing sector will be due to the rising prevalence of a number of chronic diseases such as cancer and diabetes.

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Collagen Helps Develop Label-friendly Food & Beverage Products

Companies in the global collagen market are unlocking revenue opportunities in pharmaceutical & healthcare, food & beverages, cosmetics, and nutraceutical applications. The food & beverage segment dominated the global collagen market in 2020, and the trend is likely to continue during the forecast period. Collagen is a basic ingredient in various food products. Collagen is fat-free, cholesterol-free, and low in calories. Moreover, its high protein content is translating into value-grab opportunities for collagen manufacturers in the F&B sector. These factors make it a label-friendly ingredient in various food products. These factors are boosting growth in the food & beverage sector.

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