The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as North America, Europe, APAC, and ROW.
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Market driver: increasing preference for convenience food products and beverages
In addition to basic nutrition, functional food products provide additional health benefits. Currently, functional and convenience food products have become an important part of our diet. Changes in the lifestyle and increasing disposable incomes is driving the demand for functional and convenience food products. The global packaged food products market is expected to observe significant growth during the forecast period. Collagen is a renowned compound used in the preparation of several food products and beverages. The rising awareness of consumers regarding the health benefits of natural food products is expected to drive the growth of the global collagen market.
According to a senior lead analyst at Technavio for specialty chemicals research, “Convenience or processed food is prepared for commercial use and requires almost negligible preparation before it is consumed. Canned food, preserved food, packaged food or meals, frozen food, and ready-to-cook food products are part of this category. It is easy to consume, portion-packed, time-saving, has convenient packaging, and is frozen or thaw stable. The advancement in packaging technology has enabled the range of convenience food products to expand from frozen, chilled, and shelf-stable to portion-able, microwaveable, and prepared mixes.”
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Market trend: increasing demand for kosher- and halal-certified products
The prohibition of the use of porcine collagen peptide ingredients in food products on religious grounds has led to a rise in the demand for halal- and kosher-certified products. The increased consumption of bovine and piscine meat by the Jewish and Islamic population is expected to drive the demand for kosher- and halal- certified products produced from bovine or piscine raw materials. Due to this, the demand for fish-based collagen has also increased. The high demand in the Middle East is driving the market for halal-certified collagen products. Several vendors have also enhanced their portfolio to include kosher- and halal- certified collagen.
Market challenge: rising price of raw materials
The cost of procurement has increased due to the rising demand for collagen from various end-users which has led to a tight supply of raw materials such as bovine bones and hide. The high price of poultry raw materials such as duck and hen has fueled the cost of the end-product. This led to consumers refraining themselves from buying poultry-based collagen.
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Some of the major contributors in the global collagen market:
- Nitta Gelatin India
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