According to a recent report by Future Market Insights, market research and competitive intelligence provider, sales of plant-based Collagen are estimated to reach a value of USD 12.3 Billion by 2032, surging at an 8% CAGR through the decade.
Plant-based collagen is made using plant-based ingredients. Collagen production with yeast or bacteria is both cost-effective and scalable in a lab environment. Plant-based collagen provides several advantages in comparison to animal collagen, including a decreased risk of allergies due to its regulated manufacturing process.
The market is expected to grow as a result of the numerous health advantages associated with the use of plant-based collagen. Other factors impacting the market are the increase of “vegan” lifestyles, in addition to lactose intolerance and dairy product allergies. Several regulatory bodies strongly encourage consumers to use plant-based collagen.
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Key Takeaways from Market Study
- North America is expected to have 38% plant based collagen market share.
- US is anticipated to holds 65% plant based collagen market share in North American market.
- Europe is expected to have 31% plant based collagen market share.
- Germany is likely to holds 22% plant based collagen market share in European market.
- Asia is expected to have 20% plant based collagen market share.
- China holds 32% plant based collagen market share in Asian market.
- Market players are experimenting with new ways on increasing production capacity and also doing research and innovation to create products.
“ The growing focus on the consumption of plant based collagen in developed regions such as Europe and North America is likely to open lucrative opportunity for market players in the long run”, –says a lead analyst at Future Market Insights.
Competitive Landscape
Plant-based collagen has a strongly competitive global market. Key companies are contributing to the worldwide market through product releases, collaborations, mergers and acquisitions, and another important organic as well as inorganic strategies.
Some of the leading companies offering plant based collagen are Unived, SMPNutra, Olena Health, OZiva, Seniority.IN, Rejuvenated, Raw Beauty Lab, Nutricore Biosciences PVT. LTD, HealthKart, Your Super, PlantFusion, Nutricore Biosciences Private Limited among others.
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Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the plant based collagen presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the plant based collagen market by source (black beans, soy, kidney beans, pumpkin seed, squash seed, sunflower seed, chia seed, pistachio, peanut, cashew and others), by form (drink, powder, gummies and others), by end use industry (food and beverage, pharmaceutical, healthcare and others), and across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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