South East Asia Collagen Market is expected to reach $194.3 million by 2030
The South East
Asia collagen market will grow at a CAGR of 7.2% from 2018
to 2023 to reach USD 142.84 million by 2023, mainly driven by “growing inclination towards protein consumption & nutricosmetics;
increasing use of collagen in food, healthcare, and technical applications; and
rising use of collagen based biomaterials. However, factors such as need of
compliance with various standards and stringent regulations due to safety
concerns, religious constraints, and growing use of alternatives are expected
to hinder the growth of this market to some extent” notes
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The report also notes that,
gelatin is expected to dominate the South East Asian collagen market during the
forecast period. The application of gelatin has been significant in
pharmaceutical industry, as it is primarily being used to make the shells of
hard and soft capsules, tablets, granulation, suppositories, plasma substitute
for medicines, dietary/health supplements, syrups, etc.
Further, pig collagen accounted
for the major share of the South East Asian collagen market in 2017, owing to
the large amount of pork being consumed in this region that results in the
abundant availability of raw material for the collagen manufacturing. Also, pig
skin is the most favoured source of collagen, as the other sources like fish
collagen are exposed to denaturation and exhibits inferior gelling,
emulsifying, foaming, and film-forming properties to those of commercial pig
skin gelatin.
Geographically, Indonesia
commanded the largest share in the South East Asian collagen market in 2017,
which is attributed to its booming food processing industry due to growing
population, increased urbanization, growing awareness of healthy products, rising
incomes, the shift of consumers towards modern retail stores, and growing
tourism industry. In addition, Indonesia’s fast-growing economy and growing
livestock and meat processing industry further drives the market for collagen
in this country.
Based on
type, the South East Asia collagen market
is segmented into gelatin, collagen peptide (hydrolyzed collagen), native
collagen, and synthetic collagen. In 2023, the gelatin segment is expected to
account for the largest share of the South East Asia collagen market. The large
market share of this segment is attributed to the increased demand from the
food and pharmaceutical industries due to its outstanding stabilizing features
and binding characteristics. Nutritional gummies, chewable soft capsules, and
enteric capsules are the recent trends in pharma drug deliveries where a mass
volume of gelatin is being used. In addition, the growing usage of gelatin in
photography, nutraceuticals, and cosmeceuticals is also contributing to its
large adoption. Therefore, the gelatin segment is expected to register the
highest CAGR during the forecast period due to its rising adoption across
multiple application areas and the rising fish industry in South East Asia.
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Based on
application, the South East Asia collagen market
is segmented into food & beverages, pharmaceuticals, nutraceuticals,
healthcare, cosmetics, and technical applications. In 2023, the food &
beverages segment is expected to account for the largest share of the South
East Asia collagen market. The large market share of this segment is attributed
to vast applications of collagen across the food & beverages industry due
to its unique gelling and surface behavior properties. It also improves the
texture and mouthfeel of food products. It is used to add a smooth, creamy
texture to dairy products, soups, and sauces. In meat products, it helps to
retain moisture and improve tenderness. This is expected to boost the demand
for collagen in food & beverages.
Key
Players
The key players operating
in the South East Asia collagen market include Rousselot (Part of Darling
Ingredients Inc.) (Netherlands), GELITA AG (Germany), Weishardt (France),
Tessenderlo Group NV (Belgium), Nitta Gelatin Inc. (Japan), ITALGEL S.r.l.
(Italy), Holista Colltech Limited (Australia), Collagen Solutions (US)
LLC (U.S.), Gelnex (Brazil), Advanced BioMatrix, Inc. (U.S.), Hangzhou
Nutrition Biotechnology Co., Ltd. (China), Foodmate Co., Ltd. (China),
Trobas Gelatine B.V. (Netherlands), and Jiangxi Cosen Biochemical Co., Ltd.
(China).
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