by Plant collagen is a vegan alternative to animal-derived collagen that is sourced from plants. It is extracted from plants through fermentation and hydrolysis processes in a way that mimics collagen’s natural structure and composition. Common sources of plant collagen include soy, bamboo, potatoes, and peas. The market has seen a rise in demand for plant-based collagen products due to various factors such as growing veganism and health consciousness. These collagen products are offered as powders, capsules, and gummies and are used in nutritional supplements, functional foods and beverages.
The global 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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing demand for vegan and plant-based products and the wide acceptance of sustainable alternatives to animal products are expected to drive the growth of the plant collagen market over the forecast period. With increasing awareness about environment protection and animal welfare, consumers are looking for eco-friendly options and adopting vegan lifestyles. This rising demand for sustainable products is encouraging companies to develop innovative vegan collagen solutions through new plant sources. Furthermore, plant collagen offers advantages over animal-based collagen such as non-GMO and clean label profiles due to absence of allergens like whey or milk. It is also easily soluble, odorless and tasteless. These factors are boosting the popularity of plant collagen among manufacturers in various industries.
Segment Analysis
The plant collagen market is segmented into application and source. Based on application, the skin health and beauty sub-segment dominates the market owing to increasing demand for organic and natural cosmetic products. Plant collagen finds wide application in products such as anti-aging creams, anti-wrinkle gels, and moisturizers. Based on the source, the rice sub-segment accounts for the largest share as rice contains similar protein composition as animal collagen and is cost-effective.
PEST Analysis
- Political: Currently, there are no stringent regulations on plant collagen production. However, government support for sustainable and ethical agriculture may boost market growth.
- Economic: The rising disposable incomes and growing health and wellness trend are fueling demand for premium natural products. This drives the growth of the plant collagen market.
- Social: Increasing Vegan and Flexitarian population is creating demand for plant-based alternatives to traditional animal-derived products. This acts as a major growth factor.
- Technological: Advances in protein extraction technologies are enhancing yields and purity levels of plant collagens. This allows greater versatility and applications in cosmetics and nutraceuticals.
Key Takeaways
The global plant collagen market is expected to witness high growth over the forecast period supported by the growing demand for vegan and natural products.
Regional analysis: Asia Pacific regions such as China and India are poised to be the fastest growing markets for plant collagen. This is attributed to increasing disposable incomes, growing health awareness, and shifting preferences towards herbal and ayurvedic products in the region.
Key players: 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. Geltor is innovating with new plant sources for collagen production and expanding applications of the product.
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
