by The 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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The plant collagen market involves production and sales of collagen protein extracts sourced from plants. Collagen is the main structural protein in the body and is widely used in applications such as food and beverages, nutraceuticals, cosmetics, and pharmaceuticals. Collagen peptides derived from plants such as soybean, pumpkin, rose, and sunflower are gaining popularity as an alternative to animal-sourced collagen.
Market Dynamics:
Increasing demand for vegan and plant-based products from health-conscious consumers is a major factor driving the growth of the plant collagen market. According to research, over 30% of the US population now identify themselves as “flexitarian”, reducing their animal-based food consumption. Additionally, collagen from plant sources is considered hypoallergenic compared to animal collagen and thus preferred by consumers with allergies to animal products. Growing awareness about the benefits of collagen in maintaining joint and bone health is fueling the demand for plant-based collagen supplements. However, high costs associated with production and commercialization of plant collagen compared to conventional animal collagen remains a challenge for market players.
SWOT Analysis
Strength: The plant collagen market has strong growth potential due to increasing vegan consumer base. Plant collagens are easily sourced from plant materials and have no risk of disease transmission. They provide similar health benefits as animal collagens like improving skin elasticity and joint health.
Weakness: Plant collagens lack certain amino acids found in animal collagens, reducing their efficacy. Their absorption in the body is also relatively lower than animal collagens.
Opportunity: Rising health consciousness is driving more consumers towards sustainable and plant-based products. Continuous research and development of new plant sources can help address current limitations of plant collagens.
Threats: Steady availability of cheaper animal collagens continues to make them preferable for several consumers. Strict regulations around new product development and approval processes increase cost of innovation.
Key Takeaways
The Global Plant Collagen Market Size is expected to witness high growth, exhibiting a CAGR of 8.5% over the forecast period, due to increasing preference for vegan and sustainable products among consumers. The market size is projected to reach US$ 11.40 billion by 2030 from US$ 6.46 billion in 2023.
Regional analysis North America dominates the global plant collagen market and is expected to continue its dominance, growing at a CAGR of 7.2% over the forecast period. This can be attributed to growing vegan consumer base and awareness about ethical treatment of animals in the region. Asia Pacific is anticipated to exhibit the highest growth, owing to rising health consciousness and disposable income in major countries like China and India.
Key players operating in the plant collagen market are 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. They are focused on developing novel plant sources and formulations to address current limitations and tap into the extensive growth potential.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
