18 March 2019
Currently estimated at $3.5 billion, the global collagen market is projected to grow at a CAGR of 5.2%, to reach USD 4.6 billion by 2023, according to new data from Report Buyer.
This projected growth is due to the rising food & beverages industry as manufacturers are using collagen in their food items to increase the protein content in the final product. Moreover, robust growth witnessed in the cosmetics industry is also further driving the market growth as the use of collagen in skincare and personal care items offers superior and anti-ageing properties.
In addition, the rising awareness among consumers regarding the health benefits of collagen has led to the production of collagen supplements. These factors are further projected to drive the market growth during the forecast period.
Europe was estimated to account for the largest share in the collagen market in 2018 due to the busy lifestyle of consumers and rising health awareness. For more information visit www.reportbuyer.com