Plant Collagen Market is Estimated to Witness High Growth Owing to Opportunity in Skin Care Industry

 

Plant collagen provides various health benefits such as improved skin health, joint and bone support, and digestive health. It is a highly effective substitute to animal collagen extracted from bones, cartilage, and skins. The global Plant Collagen Market is estimated to be valued at US$ 6.46 Bn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The plant collagen market is witnessing rapid growth due to the rising trend of veganism and plant-based diet. According to data, around 10% of the US population now follows a vegan diet which is significantly fueling the demand for plant-based collagen. Moreover, plant collagen poses lower risks of disease transmission such as BSE or "mad cow disease" compared to animal collagen which is another major growth driving factor. Plant collagens are also relatively cheaper to produce and more ethically obtained than animal collagens driving its larger acceptance worldwide. Rising health awareness regarding the benefits of plant-based products over animal-based ones is further propelling the plant collagen market growth during the forecast period.

Segment Analysis

The global plant collagen market is dominated by the food and beverages subsegment. Plant collagen finds widespread application in food items such as bread, snacks, desserts and beverages due to its ability to improve texture and nutrient profile. Plant-based collagen is increasingly being included in plant-based foods and drinks as a substitute for animal-derived collagen. This is driving the food and beverages subsegment to grow at a higher pace.

Key Takeaways

The global plant collagen market is expected to witness high growth over the forecast period supported by rising vegan consumer base, premiumization of plant proteins and increasing demand for clean label ingredients.

Regional analysis: North America currently dominates the global plant collagen market owing to robust plant protein consumption in countries like the US. Further, presence of several innovating start-ups and companies engaged in production of plant collagen products in the region is aiding growth. However, Asia Pacific is anticipated to exhibit the fastest growth on account of growing health-conscious population, rising disposable incomes and development of vegan food industry in countries such as China and India.

Key players: Geltor, Vital Proteins, Aethic, Vegan Collagen Co., Forestwise, The Beauty Chef, Neocell, Amazing Grass, Sunwarrior, Garden of Life, Sports Research, Youtheory, Organika, Olaplex, and Purisure are some of the key players operating in the plant collagen market. Geltor and Vital Proteins are pioneering the commercialization of non-animal collagen using fermentation techniques from fungi and yeasts.

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