The global plant collagen market size is rapidly expanding due to the widespread applications of plant collagen in supplements and personal care products. Plant collagen supplements made from marine collagen sources like algae aid in bone and joint health and help reduce inflammation. The growth of the vegan dietary trend has also boosted demand for plant-based collagen supplements as an alternative to animal-derived supplements. Skin care creams and lotions containing hydrolyzed plant collagen improve skin hydration and elasticity without animal testing.
The global plant collagen market is estimated to be valued at US$ 6.46 Bn in 2024 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 increasing popularity of plant-based lifestyles and veganism has propelled the demand for plant collagen from various end-use industries like dietary supplements, cosmetics, and food and beverages. Food producers are innovating with plant collagen as an ingredient in fortified foods and beverages to cater to vegan consumers. Gelatin alternatives derived from plant sources like oats and rice are gaining traction in the confectionary industry. Supplement manufacturers are developing hydrolyzed plant collagen powders, capsules and gummies to meet the needs of health-conscious flexitarian consumers. Novel plant sources for collagen extraction such as pineapple, pomegranate and potato are being explored by ingredient companies to diversify collagen offerings.
SWOT Analysis
- Strength: Plant collagen has all essential amino acids required by the body. It is ideal for vegans and people with allergies as it is plant-based and non-animal derived.
- Weakness: Plant collagen is still a relatively new product with limited research available on its long-term benefits and effectiveness compared to animal collagens. Production costs of plant collagen are higher than traditional collagens.
- Opportunity: Growing vegan and flexitarian population is increasing the demand for plant-based products. Plant collagen has an opportunity to capture this fast-growing market segment.
- Threats: Traditional collagen producers can potentially enter the plant collagen market and capture a major market share with their existing production facilities and supply chains. Stringent regulations around product claims and ingredient sourcing can raise compliance costs.
Key Takeaways
The global plant collagen market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 6.46 billion by 2024, growing at an impressive CAGR of 8.5% during the forecast period.
Regional analysis: The North American region currently dominates the plant collagen market led by the United States. Wide acceptance of plant-based products and growing health and wellness trends in the region are fueling the demand. The Asia Pacific region is expected to grow at the fastest pace during the forecast period supported by increasing health awareness and disposable incomes in densely populated 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. These companies are launching innovative new formulations tailored to the growing needs of vegans, flexitarians, and health-conscious consumers. They are also investing in expanding their supply chains and distribution networks globally to tap into the mass market potential.
