The marine collagen market will witness growth during the forecast period owing to the cosmetics and nutraceuticals industries. Shifting consumer preferences towards organic produce, awareness regarding the risks of consuming high protein foods, and a growing inclination towards leading a healthier life will be the primary factors positively impacting the marine collagen market. Collagen, in general, provides necessary nutrients to hair, nails, and bones and helps them grow healthily. Fish collagen is being increasingly preferred over other collagen for its high bioavailability and visible results in anti-ageing solutions. This will benefit the marine collagen market in upcoming years. Marine waste often generated from the processing of fish-based products is a rich source of protein and omega acids. According to the Journal of Microbial and Biochemical Technology, depending upon the fish, 20-80% of its constituents are counted as waste. The marine production industry has started to make innovative usage of this waste by extracting collagen and other protein products. Fish collagen is being preferred over collagen derived from other animals, owing to its low molecule size. Marine collagen is easily absorbed by the body and provides the desired outcome. Fish collagen’s high bioavailability will act as another strong growth driver for the market during the forecast period. In 2018, the market earned a revenue of $642m, and is set to witness growth at a CAGR of 7.4% during the forecast period of 2019-2025.
Asia Pacific Leading the Global Marine Collagen Market
- The APAC region has emerged as the geographical leader of the market. In 2018, the region held a 38% share of the total revenue earned by the market, primarily due to the booming fishing industry in China and Japan.
- The fishing industry in China is thriving. In 2013, the Chinese population consumed more seafood than the combined population of the next nine most populous countries in the world. With a rise in disposable income, people are now opting for seafood over other meat products. This can be attributed to the high price of seafood in China which has made its consumption a ‘status symbol.’ Seafood has now become a regular food product in Chinese functions and weddings, further driving growth of the fishing industry in China. In 2018, China topped the world in the export of fish and crustaceans, achieving an estimated value of $13 billion. China was also the third largest country in terms of importing marine meat, with an import value worth $11 billion. A fishing industry of this size releases immense processing waste, which has further provided impetus to the marine collagen market in this region.
- The Japanese population is also a mass consumer of marine products. In 2018, Japan was the second largest importer of fish and other crustaceans with imports valued at $11.8 billion. Japan is known for its protein-rich diet, of which fish forms an important component. The consistent trade of marine products in China and Japan have helped in this region becoming the geographical leader of the marine collagen market.
Factors behind Growth of the Marine Collagen Market
Several industries have openly adopted the use of marine collagen in manufacturing products. The growth of these industries are contributing to the rise of the marine collagen market. Some of these industries are nutraceuticals, cosmetics, medical, and others.
Nutraceuticals- A consistent increase in disposable income and food products lacking nutrients becoming common snack options are contributing to mass obesity and other chronic diseases. Awareness pertaining to these issues has made people turn towards nutraceuticals supplements for alleviating diseases caused due to nutrient deficiency. This helped the nutraceuticals ingredients market earn hefty revenues amounting to $31 billion in 2018. The nutraceuticals market players have started selling marine collagen in the form of Pure Marine Collagen Peptide that is gaining popularity. Approximately 80% of life on Earth, including a large number of bioactive compounds, is found under its oceans. The collagen extracted and produced from these organisms is highly beneficial for preventing skin layers from developing wrinkles or folds. Additionally, collagen extracted out of fish skin is more easily absorbed by the body owing to enzymatic hydrolysis. For this reason, marine collagen is often termed as hydrolyzed collagen. In the forecast period, nutraceuticals will play an indispensable role in boosting growth of the marine collagen market.
Cosmetics- Fish collagen is extremely effective in reversing aging by inhibiting wrinkling in the dermal layers of the human body. For this reason, key players in the cosmetics industry have capitalized on this product and have begun using fish collagen in several products. The anti-aging cosmetics market is booming owing to high demand for anti-aging products from the millennial and elderly population. Through intensive R&D, a number of innovative products and techniques are emerging in the anti-aging market. This has provided visible growth to the marine collagen market as this product is being cited as a top ingredient for cosmetics production. In 2018, the anti-ageing ingredients market earned revenue of $2.8 billion, a large part of which constitutes earnings through inclusion of marine collagen. Carlton Cosmetics, for instance, develops its own marine collagen from the Alaskan Salmon and uses them in creams which have shown visible positive effects in customers. The cosmetics segment has, therefore, proven to be a highly promising segment in the marine collagen market, and is expected to grow at a CAGR of 7% in the forecast period.
Marine Collagen Market: Key Players
In the forecast period, key players in the marine collagen market will focus on expanding distribution networks to increase product sales. These companies include Amicogen Inc., Ashland Global Holdings Inc., BHN International Co. Ltd., Connolis LLC, Darling Ingredients Inc., Gelita AG, Nippi Incorporated, Seagarden AS, Beijing Taiaitai Biotechnology Co. Ltd., and Bega Bionutrients.
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