According to an analysis conducted by Frost & Sullivan, the market for collagen peptides is projected to grow by approx. 8% per year during 2020-2024. However, it is noted that sales are still a long way from their peak.
These findings were published in a report commissioned by PB Leiner, supplier of Solugel collagen peptides. The report states that based on the developmental path followed by more mature health ingredients such as probiotics and omega-3, collagen peptides are still in the early stages of their product lifecycle.
As a result, market penetration for collagen peptide ingredients and products remains relatively low across Europe, North America and Asia-Pacific. In the North American market, collagen peptides’ penetration rate is estimated to be at least 35× lower than omega-3, indicating a potential for growth.
The analysis also finds that collagen peptides are ranked from “good” to “excellent” against critical success factors for health ingredients. These include scientifically backed health claims; a well-defined end-user group; diversification of health benefits; and the capability to be incorporated into foods and beverages. It was concluded that collagen peptides have the necessary characteristics to become a successful ingredient that will support the health of consumers worldwide.
Developing new applications for collagen peptides in terms of functionality and product innovation will further expand the market.
“In comparison with other more mature health ingredient categories, collagen peptides are still at a relatively early stage of their evolution across all continents,” said Tomasz Bochenski, senior consultant at Frost & Sullivan. “This means significant opportunities remain for manufacturers, retailers and investors. Developing new applications for collagen peptides in terms of functionality and product innovation will further expand the market, allowing it to reach new customers who might not yet be aware of the many scientifically proven health benefits of collagen peptides.”
“Frost & Sullivan’s analysis aligns with what we and other observers have seen: collagen peptides are starting to go mainstream, gaining wider acceptance and familiarity among end consumers,” added Cindy Dekeyser, global business intelligence manager at PB Leiner. “This means consumer requirements are becoming increasingly sophisticated with more differentiation in product concepts and quality needed to stand out from the crowd. That is where we step in: we assist our customers in translating trends into on-trend concepts. This customized support, ranging from market intelligence to new product development to technical support, enhances customer success.”