Sales of plant-based collagen are predicted to grow at an 8 percent CAGR during the decade, reaching a value of USD 12.3 billion by 2032, according to a recent report by Future Market Insights, a supplier of market research and competitive information.
The ingredients used to create plant-based collagen are also plants. In a lab setting, it is both affordable and scalable to produce collagen using yeast or bacteria. In comparison to animal collagen, plant-based collagen offers several benefits, including a lower risk of allergies because of its controlled manufacturing process.
Due to the numerous health benefits connected with using plant-based collagen, the market is anticipated to expand. In addition to lactose intolerance and dairy product allergies, other market-influencing reasons include the rise of “vegan” lifestyles. Numerous regulatory agencies strongly advise consumers to utilize collagen derived from plants.
The global market for plant-based collagen is quite competitive. Important firms are influencing the global market through the introduction of new products, joint ventures, mergers and acquisitions, and other significant organic as well as inorganic methods.
Unived, SMPNutra, Olena Health, OZiva, Seniority.IN, Rejuvenated, Raw Beauty Lab, Nutricore Biosciences PVT. LTD, HealthKart, Your Super, PlantFusion, and Nutricore Biosciences Private Limited are a few of the top businesses that sell plant-based collagen.
More Useful Information
In its latest release, Future Market Insights offers a frank study of the plant-based collagen market by showing historical demand data (from 2017 to 2021) and projection figures for the years 2022 to 2032.
Key Market Study Conclusions
- 38 percent of the market for plant-based collagen is anticipated to be in North a.
- the US is predicted to hold a market share of 65 percent for plant-based collagen in North America.
- The market share for plant-based collagen is anticipated to be 31% in Europe.
- In the European market, Germany is anticipated to hold a market share of 22% for plant-based collagen.
- Asia is anticipated to hold a 20 percent market share for plant-based collagen.
- In the Asian market, China owns a market share of 32% for plant-based collagen.
- Players on the market are experimenting with novel approaches to boosting production capacity as well as engaging in research and innovation to develop new products.
According to a research analyst at Future Market Insights, “The increased emphasis on the consumption of plant-based collagen in developed nations like Europe and North America is projected to provide the profitable potential for market players in the long term.”