Key Takeaways
- The marine collagen market has been analyzed to be fragmented with key players accounting for around 38.01% of the market share. Major players in the marine collagen market are Amicogen, Inc., Ashland Global Holdings Inc., BHN International Co. Ltd., Connoils LLC, and Darling Ingredients Inc.
- The major driving factor for the marine collagen market growth is increasing demand for health supplements and protein consumption; and growing demand for cosmetic personal care products.
- The Type I segment will register the highest growth, owing to its advantages in medical applications.
- The Asia Pacific region is poised to contribute the largest share, accounting for 32.33% of the overall marine collagen market, owing to demand from health and drinks industry and the growing Chinese cosmetics industry.
By Type - Segment Analysis
In terms of type, the Type I sub-segment is dominating the market and is estimated to grow at a CAGR of 7.8% during the forecast period. Type I is a fibrillar type and finest investigated collagen. Since the use of Type I can encourage osteogenic distinction and mineralization of stromal marrow cells and human adipose stem cells, it is used in multiple medical products such as Collapat II, Healos, Collagraft, and Biostite. Hence, the increasing usage of Type I in various medical applications has encouraged companies to offer customized Type I solutions.
Application - Segment Analysis
Cosmetics is the largest application segment for the marine collagen market globally. The market for cosmetics was valued at $262.06m in 2020 and is projected to grow at a CAGR of 7% during the forecast period. Marine collagen is being increasingly adopted by the cosmetics industry for various anti-aging and anti-wrinkle products. In contrast to animal collagen, marine collagen does not cause irritation as it is free of pathogens, a factor that is strongly increasing the use of marine collagen in cosmetics. The ability of collagen to retain water is also one of the major factors leading to its increasing adoption by the cosmetic industry.
Geography - Segment Analysis
The Asia Pacific region held the largest market share of the marine collagen market in 2020. Increasing demand for health drinks and supplements is one of the most prominent factors supporting the market growth in this region. Moreover, the Chinese cosmetics industry is one of the most promising industries, owing to expansion of the men’s cosmetics segment, combined with consumers’ spending habits and availability of retail platforms in the region. Due to its characteristics, marine collagen is one of the key ingredients used in cosmetics for wrinkle reduction. Additionally, the favorable government regulations for collagen will support growth of the marine collagen market in countries such as Australia and New Zealand.
Drivers - Marine Collagen Market
- Increasing demand for health supplements & high protein consumption:
Consumption of marine collagen-derived supplements can decrease the risk of bone illnesses such as osteoporosis. It helps in increasing bone mineral density (BMD) and reduces the risk factors relating to heart conditions such as atherosclerosis. Hence, growing consumer awareness relating to marine collagen's health benefits has resulted in high demand for marine collagen based supplements with high protein. Due to various applications of marine collagen, the market is witnessing significant growth.
- Demand in the Cosmetics Industry :
Marine collagen-based formulations are emerging as promising solutions for the Personal Care industry that constantly seeks innovative, sustainable and effective products. The ability to increase skin comfort; epidermis nutrition; enhance skin elasticity; skin and hair conditioning and filmogen; and neutralize the side effects of surfactants are some features of marine collagen that drive market growth.
Challenges – Marine Collagen Market
- Increased prices of raw materials
High prices of raw materials and associated processing costs during marine-based collagen formulation is the major constraint hindering market growth. Additionally, supply shortages and increased prices of raw materials are significant problems for manufacturers of beauty and health supplements, in line with increasing demand for marine collagen worldwide.
- Various denaturation temperatures
The temperature of marine collagen is lower than that of mammalian collagen, calf collagen and porcine collagen. Due to differences in denaturation temperature, it is difficult to extract collagen from marine. Thus, the denaturation temperature is another factor that hampers processing of marine collagen products.
Market Landscape
Acquisitions and product launches are some major strategies being adopted by key players in the Marine Collagen Market. Companies are trying to create their own mark in the market by adopting new technologies at a rapid rate. As a result, the number of product launches are increasing every year. In 2020, the key companies in the Marine Collagen Market accounted for 38.01% of the market share. The major players in the market include Amicogen, Inc., Ashland Global Holdings Inc., BHN International Co. Ltd., Connoils LLC, Darling Ingredients Inc., Bega Bionutrients, Seagarden AS, and Gelita AG, among others.
Partnerships/Mergers/Acquisitions/Product Launches
In February 2020, Gelita AG launched the Bioactive collagen peptide brand which offers specific and optimized collagen peptides that strengthen the tendons and ligaments.
In February 2020, Vinh Hoan Corporation acquired 100% shares in fellow processor Thanh Binh Dong Thap Fisheries for VND 360 billion ($15.61m).
R&D Investments/Funding
Marine Biotechnologies, the first commercial manufacturer of jellyfish collagen for cell culture and medical applications such as wound care and regenerative medicine, has attracted funding from Newable Private Investing, Development Bank of Wales and angel investors amounting to $5.3m (£3.8m).
Marine Collagen Market Research Scope:
The base year of the study is 2020, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Marine Collagen market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of sources from which collagen is extracted; and applications of marine collagen.
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Methodology
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