The global Plant Collagen Market is estimated to be valued at US$ 6.46 billion 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. The market is witnessing significant growth due to the increasing demand for vegan collagen products as consumers shift towards sustainable and animal-friendly alternatives. However, the market faces obstacles such as limited awareness and high production costs.
Market Key Trends:
With the growing emphasis on eco-conscious and cruelty-free lifestyles, the demand for plant-based collagen products has been on the rise. Consumers are increasingly seeking alternatives to traditional collagen, which is sourced from animal by-products.
One key trend in the market is the emergence of innovative plant collagen formulations. Companies like Geltor and Vital Proteins have developed advanced technologies to produce collagen using plant sources such as microorganisms and algae. These formulations replicate the characteristics of animal-based collagen while providing sustainable options.
For example, Geltor develops collagen using protein fermentation techniques that mimic collagen production in animals. Their product offers similar functional properties to animal collagen without any animal-derived ingredients. This innovation enables companies to cater to the growing vegan and vegetarian consumer base.
The plant collagen market is segmented based on the source of collagen, where plant-based sources dominate the segment. Plant-based collagen is derived from sources like algae, soy, wheat, and others. Algae-based collagen holds a dominant position within this segment due to its high collagen content and sustainable sourcing.
The Global Plant Collagen Market Demand is expected to witness high growth, exhibiting a CAGR of 8.5% over the forecast period. This growth can be attributed to increasing consumer awareness regarding eco-friendly and ethical choices, driving the demand for plant-based collagen products.
In terms of regional analysis, North America is the fastest-growing region in the plant collagen market. The region has a strong presence of health-conscious consumers who are actively seeking vegan and sustainable alternatives.
Key players operating in the global plant collagen market include 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 focusing on product innovation and strategic partnerships to expand their market share.
In conclusion, the plant collagen market is witnessing significant growth driven by the increasing demand for sustainable and vegan collagen products. With the emergence of innovative formulations and the dominance of plant-based sources, the market is expected to continue its positive trajectory. The key players in the market play a crucial role in meeting consumer demands and driving market growth through constant innovation.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it