(PharmaNewsWire.Com, September 08, 2021 ) The global marine collagen market size is estimated to be valued at USD 778 million in 2021 and projected to reach USD 1,137 million by 2026, recording a CAGR of 7.9% during the forecast period. 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.
The Type I marine collagen segment, by type, is projected to witness stalwart growth during the forecast period.
Type I marine collagen is projected to be the highest-grossing segment, owing to the multitude of health benefits it offers, such as joint treatment, bone growth promotion, maintenance of hair, nails and teeth, and its effectiveness as a protein source. Type I marine collagen also offers exemplary cosmetic benefits like anti-aging, wrinkle reduction and skin elasticity. As a result, the market for type I marine collagen is presenting a host of opportunities that will help propel the marine collagen market.
The nutraceuticals segment, by application, is projected to dominate the market during the forecast period.
The nutraceuticals segment is projected to dominate the market by application. Busy lifestyles and increasing cases of chronic diseases like diabetes and obesity are fueling the demand for marine collagen as a nutraceutical ingredient, and thus this segment is experiencing significant growth in the marine collagen market.
The Asia Pacific region dominates the marine collagen market with the largest share in 2021.
Asia Pacific is projected to hold the largest share in the marine collagen market. This dominance is attributed to the region’s large-scale consumption and demand for personal care and beauty products due to the ongoing health-conscious trends, as well as the increase in the millennial population. The market is rapidly growing in Asian countries such as China and Japan owing to increased consumption of cosmetic products and nutraceutical supplements.
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