Press Release Description
Global Marine Collagen Market to Register a Substantial CAGR of Around 7.5% During 2024-30
The Global Marine Collagen Market size was valued at around USD 850 million in 2023 & is estimated to grow at a CAGR of around 7.5% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. The soaring consumer preference for type I marine collagen, attributed to its inherent health benefits and effectiveness as a protein source, is a pivotal driver in the substantial growth of the marine collagen industry. Marine collagen (types I and III) is taken from the meat or scales of seafish, especially those of red snapper and salmon, which are known to have strong, pure collagen. This collagen variant serves as a foundational element supporting the development of robust bones, skin, and connective tissues. Its noteworthy feature lies in its alignment with environmental sustainability, often sourced conscientiously from discarded fish parts.
Moreover, businesses are responding to consumers who are placing a higher priority on sustainability in their purchasing decisions by implementing eco-friendly practices across the supply chain, from ethically sourcing seafood to effectively utilizing byproducts and employing eco-friendly extraction techniques. This shift toward sustainability not only addresses environmental concerns but also satisfies consumer needs for items that are both environmentally and ethically sound. Consequently, products made from sustainable marine collagen are growing in popularity, which encourages innovation and shapes the future of the marine collagen industry.
Numerous factors are poised to fuel the expansion of the Global Marine Collagen Market during the forecast period. A significant catalyst is the escalating demand for supplements, propelled by a collective desire to manage healthcare costs effectively. Furthermore, the anticipated rise in sales of marine collagen-based supplements is expected to be a driving force behind the market's continued growth. The heightened awareness among consumers regarding the benefits of marine collagen is set to provide a supportive framework for the market's expansion.
On a positive note, the increasing prevalence of chronic diseases like diabetes and obesity offers new avenues for the marine collagen industry. However, it is imperative to acknowledge that the potential increase in product costs poses a challenge to the market's sustainable growth in the coming years, further states the research report, “Global Marine Collagen Market Analysis, 2024.”
Bone & Tendons Segment Leading Marine Collagen Market
The largest share of the market is held by the bone & tendon segment. Compared to other body parts, fish bones and tendons have a higher collagen content; they make up between 50 and 60 percent of the fish's total collagen. Collagen extraction primarily targets the bone & tendons segment. On the other hand, the intricate structural proteins found in fish skin support the elasticity and strength of several bodily parts, including the skin, ligaments, bones, joints, muscles, tendons, gums, blood vessels, nails, and hair. Investigating the use of fish skin waste as a collagen source seems like a good substitute.
North America to Dominate the Market
North America, specifically the United States and Canada, has actively embraced and participated in fishing activities over the years. The fisheries associated with these countries consistently generate substantial outputs, establishing some as globally significant fisheries. The abundant marine resources, particularly the surplus fish caught from the sea, serve as valuable raw materials for various industries, including collagen production. The local industries benefit significantly from the availability of fish at relatively lower prices, fostering the growth of the collagen industry in the region.
With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Vital Proteins LLC, Ashland Inc., Weishardt Group, Seagarden AS, Connoils LLC, HUM Nutrition Inc., Darling Ingredients Inc., Rousselot, Hangzhou Nutrition Biotechnology Co., Ltd., Certified Nutraceuticals Inc., COBIOSA, ETChem, Gelita AG, BHN International Co. Ltd., Bega Bionutrients, and others are looking forward to strengthening their market positions.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What key factors would propel and impede the industry across various regions?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping up across various regions?
- How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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