DUBLIN, IRELAND / ACCESSWIRE / May 27, 2020 / Continued preference as a dietary protein for muscle repair and maintenance, weight management, leaner body mass, and enhanced immune functions primarily drives demand for marine collagen. The lower molecular weight of marine collagen aids in muscle healing and repair process, which predominantly remains the key booster to the growth of marine collagen market. Towards the end of forecast period (2019 – 2029), the marine collagen market is projected to surpass the valuation of US$ 1.8 Bn. A new Future Market Insights (FMI) report evaluates the impact of global COVID-19 outbreak on the performance of marine collagen market.
China, the top marine collagen producer, has been majorly impacted by the pandemic during Q1 2020. Supply chain disruptions and temporary closure of production facilities amidst nation-wide lockdowns will continue to pose a notable impact on revenue generation in the market. However, demand for marine collagen market will recover strongly post the pandemic, forecasts the FMI report.
“The adverse effect of the coronavirus outbreak in terms of revenue has compelled businesses in the marine collagen market to re-evaluate their projections for the latter half of 2020, with the development of potential vaccines becoming the primary focus till the end of the pandemic,” says the FMI analyst.
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Marine Collagen Market – Key Takeaways
- Fish based collagen is anticipated to witness a strong growth in demand owing superior bioavailability for treatment in chronic and acute ailments.
- The use of bones and tendons as a source for marine collagen will rise substantially on account of higher collagen content.
- Cosmetics and nutraceuticals will remain the primary marine collagen applications with the growth of consumer awareness about the health benefits associated with the product.
- Asia Pacific will remain the leading regional market, with sales of marine collagen for beauty and personal care products gaining traction in the region. The region will generate remunerative opportunities as China is a major exporter and producer of fish ingredients.
Marine Collagen Market – Key Driving Factors
- Continued demand for beauty products and investments in R&D has resulted in faster product approvals, contributing to market growth.
- Rising demand for better nutrition retention and sensory qualities in food products has boosted sales, supporting growth.
- Health care applications of marine collagen for ailments such as Alzheimer’s, influenza, and cancer will provide a major impetus to market growth.
- Changes in consumer lifestyle and the higher demand for processed foods also contributes to market growth.
Marine Collagen Market – Key Constraints
- The high costs associated with the processing of marine collagen is expected to hinder market growth.
- Side effects such as calcium buildup, poor gut health, and sensitivity among select consumers, is expected to impact the demand for marine collagen.
The Anticipated Impact of Coronavirus
The global coronavirus pandemic has had a severe economic impact on the marine collagen industry. China as a major producer and supplier, and also the epicenter of the pandemic has been witnessing major instability in the supply chains, resulting in major slumps in sales and revenue.
The market has been slammed hard by the closure of factories, which has impacted production capabilities in a bid to protect factory workers from the virus. In order to mitigate losses during the crisis, manufacturers are now seeking to customize their products to end user trends, which has allowed the industry to keep afloat. Companies are also investing in the development of vaccines for COVID-19 to enable a faster recovery.
Explore the global marine collagen market report with 112 illustrative figures, 128 data tables and the table of contents. You can also find a comprehensive market segmentation on https://www.futuremarketinsights.com/askus/rep-gb-11528
The marine collagen market is largely fragmented. Key players in the marine collagen market are Amicogen, Nitta Gelatin, Gelita, Ashland, Weishardt Group, Darling Ingredients, Nippi Incorporated, Vital Proteins, Intalgelatine, BHN, and Taiaitai. Majority of these players are seeking strategic acquisitions and new product launches. Companies are also integrating new tech in operations to keep up with the competition with an expanded product portfolio.
More About the Report
The FMI’s market research report of 300 pages offers comprehensive insights on marine collagen market. The market is analyzed on the basis of source type (skin, scales, and muscles, bones & tendons, and others), animal type (fish and others), and application (nutraceuticals, cosmetics, medical, and others) across seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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SOURCE: Future Market Insights
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