According to a new report published by Allied Market Research titled, “Collagen Drinks Market by End User, Packaging Type, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the collagen drinks market size was valued at $274.8 million in 2020, and is projected to reach $831.8 million by 2030, growing at a CAGR of 12.7% from 2021 to 2030. Europe dominated the collagen drinks market analysis in 2020, accounting for nearly 44% of the total market share. The collagen drinks market exhibits an incremental revenue opportunity of $557.0 million from 2020 to 2030.
The collagen drinks industry holds a substantial scope for the market growth. The market is currently in its growth stage; however its contribution to the global market is expected to increase significantly during the forecast period. Increase in demand for beauty drinks and collagen infused products enforced the market to produce more innovative beauty drinks and wellness drinks made by various sources of collagen.
Growth of the global population and rise in per capita income boosts the collagen drinks market growth, thus increasing the production of collagen beauty drinks. There is an increase in the production of collagen infused products for with the rise in demand from nutraceutical industry. Thus, the market players are focusing on increasing their production capacities. Change in consumer behavior in the beauty and wellness segment and preference of consumers for various new types of nutraceutical drinks expected to boost the sales of collagen infused energy drinks in the coming years. Numerous players are entering the collagen drinks market with innovative ideas and strategies. Emerging innovative nutrition drinks and beauty drinks by various other healthy ingredients are expected to increase the market competition in the years to come.
Growth in population in developing countries, such as China, South Korea, and India, has increased the demand for beauty drinks. This is attributed majorly to the increase in population, coupled with per capita income. This is boosting the production of beauty drinks and nutrition drinks in developing regions. In emerging countries, per capita income is more as compared to the developed countries and hence, adoption of various new products is eventually higher.
The collagen drinks market is segmented on the basis of end user, packaging type, distribution channel, and region. On the basis of end user, the female segment was the highest contributor to the market, in 2020, and is estimated dominate the market in 2030, with a significant CAGR. The male segment is expected to grow with highest CAGR during the forecast time period.
On the basis of packaging type, the market is bifurcated into glass bottle and plastic bottle. On the basis of distribution channel, the market is classified into supermarkets/hypermarkets, pharmacies, online sales channels, and others.
Region wise, the market is segmented into North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, Africa, and rest of LAMEA). Europe leads the global market, in terms of value, and is anticipated to continue to dominate its leading position according to collagen drinks market forecast. This is collagen drinks market trends are attributed to surge in fashion and beauty industry in the Europe by creating collagen drinks market opportunities.
Key Findings Of The Study
- The female segment is expected to grow at a CAGR of 11.7% during the forecast period.
- Europe is anticipated to dominate the collagen drinks market share, registering a CAGR of 11.7%.
- The online sales channels segment is projected to contribute with highest market share during the forecast time period, with around 32% market share in 2030, and CAGR of 13.4%
- The plastic bottle segment is anticipated to grow at very fast rate in the global market analysis with a CAGR of 12.9% during the forecast period.
- The male segment is estimated to grow at a CAGR of 13.1% during the forecast period.
Major market players operating in the collagen drinks market are Shiseido Company Limited, AmorePacific Corporation, Asterism Healthcare, Hangzhou Nutrition Biotechnology Co, Bauer Nutrition, Hangzhou Nutrition Biotechnology Co, Kinohimitsu, Heivy, TCI Co. Ltd., ATP CO.LTD, and Wel-Bloom Bio-Tech Corporation.