Impact of COVID-19 on Hydrolyzed Collagen Market : Implications on Business

Albany, NY -- (SBWire) -- 03/16/2021 --Impact of COVID-19 on Hydrolyzed Collagen Market : Implications on Business

Hydrolyzed Collagen Market - New Dimensions with the Popularity of Curative Approach:

The hydrolyzed collagen market, valued at ~US$ 825 million in 2018, advances towards becoming a billion-dollar market by 2021, and will continue its stride at a CAGR of ~8% during 2019-2029, finds a new report published by Transparency Market Research (TMR).

The hydrolyzed collagen market holds adjacent market opportunities, besides food and beverages, and much of this has to do with the newly-added thrust of preventive, rather than curative measures in the healthcare sector. Though the healthcare industry is not a direct contributor to the landscape, the blurring lines between food and nutraceutical industries, and the convergence of 'food-pharma' industries are projected to exert a sizeable influence on the popularity of hydrolyzed collagen to cater to nutritional inadequacies among consumers.

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The significant shift in the strategy towards curative practices has, in turn, caught the attention of the cosmetics and personal care industry, and manufacturers are catalyzing the spurt in the growth of the hydrolyzed collagen market with the introduction of skincare- and hair care-based product portfolios. However, while tapping adjacent market opportunities, manufacturers need to be prepared for the discipline of regulatory compliance - norms regarding food claims and information presented to consumers to drive them into the sales funnel.

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The hydrolyzed collagen market continues to undergo an epochal scale of transmutation, as manufacturers tap new sources to extract value-added collagens. Historically, hydrolyzed collagen, extracted from cattle, maintained a clear lead in terms of value share. However, as literature claiming benefits of marine-sourced collagens - better water solubility, skincare properties, and lesser carbon footprints - began coming to light, a spike in their adoption rate became apparent. In 2019, hydrolyzed collagen sourced from bovine accounted for ~US$ 350 million, while that sourced from marine is estimated to register a CAGR of ~11% during 2019-2029.

However, the evolutionary nature of the landscape is the very feature that could pose a challenge. Animal-sourced hydrolyzed collagens cater to the protein inadequacy of the non-vegetarian populace, while the growing interest towards the adoption of the vegan trend could be a weighted market deterrent.

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High Sales of Powdered Hydrolyzed Collagen over Liquid and Tablet Forms:

In 2018, the sales of powdered hydrolyzed collagen accounted for a value of ~US$ 265 million, while that of liquid hydrolyzed collagen grew to a value of ~US$ 135 million. Despite the availability of various intake options, consumers tend to prefer nutritional supplements in the powdered form over the tablet and liquid forms, on account of their longer shelf life and high bioavailability. On top of that, powdered hydrolyzed collagen is deemed pure, as it is less susceptible to mixing with other ingredients. As compared to the other forms, cost-effectiveness and high flexibility with dosing remain the key attractive proposition of the powdered form, catalyzing its sales.

However, the report points towards the exponentially growing adoption rate of liquid hydrolyzed collagen, given its high absorbability, which makes it more effective than the powdered and tablet forms. The sales of liquid hydrolyzed collagen will move at a compound annual growth rate of ~10% during the forecast period.

Beside other success factors, distribution channels, in turn, play a pivotal role in influencing the purchasing behavior of consumers. For instance, the transit of powdered hydrolyzed collagen is much safer than that of the liquid form, which is thereby fortifying the sales of the former via online channels, and that of liquid through B2B and B2C channels such as hypermarkets/supermarkets, drug stores & pharmacies, and specialty supplement stores.

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