The Plant Collagen Market is estimated to be valued at US$ 6.46 Bn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
 

Market Overview:

Plant collagen refers to collagen proteins that are extracted from plants like basil seeds, bamboo, citrus fruit and soy. It is commonly used in the form of pills, powders and liquids in various beauty and wellness products. Some key use cases of plant collagen includes anti-aging creams, moisturizers, hair masks, nail hardeners and joint pain relief supplements. The growing preference for vegan, cruelty-free and sustainable products among consumers is fueling the demand for plant-derived collagen.

 

Market Dynamics:

One of the major drivers propelling the plant collagen market is rising health consciousness among consumers. As obesity and joint pains have become major health issues, people are increasingly consuming collagen supplements to support bone and joint health. Furthermore, growing aging population worldwide is also boosting the adoption of anti-aging cosmetic products containing plant collagen. According to United Nations report, number of people aged 60 years and above is expected to reach 2.1 billion by 2050 from 1 billion in 2019. This expanding aging demographic represents a lucrative consumer base for anti-aging skin care treatments.
 

Segment Analysis

The Plant Collagen market is segmented based on source into alfalfa, corn, soy, and others. The soy segment currently dominates the market due to wide availability of soybeans globally and its easy integration into existing food manufacturing infrastructure. Soy contains high amounts of collagen precursors such as amino acids that help in producing healthy collagen in the body.

 

PEST Analysis

Political: There are no significant political risks impacting the plant collagen market currently. Most governments support development of plant-based alternatives to animal products.
Economic: The global economy is recovering post-pandemic, benefiting consumer spending on health and wellness products. High collagen product prices also encourage use of relatively lower-cost plant collagens.
Social: Changing lifestyle patterns and health consciousness are driving greater demand for natural, vegan, and sustainable products like plant collagen.
Technological: Advancements in plant cell culture technology and fermentation processes enable high-yield, low-cost production of concentrated forms of plant collagen.

 

Key Takeaways

The Global Plant Collagen Market Growth is expected to witness high, exhibiting CAGR of 8.5% over the forecast period, due to increasing awareness about benefits of collagen and shift towards vegan and plant-based products. The market size for 2023 is projected to reach US$ 6.46 Billion.

North America dominates the global plant collagen market currently due to rising vegan population and healthy lifestyle trends. The Asia Pacific region is expected to grow the fastest in the forecast period backed by increasing health expenditure, western influence, and developing economy.

Key players operating in the plant collagen market are Geltor, Vital Proteins, Aethic, Vegan Collagen Co., Forestwise, The Beauty Chef, Neocell, Amazing Grass, Sunwarrior, Garden of Life, Sports Research, Youtheory, Organika, Olaplex, Purisure. These companies offering innovative product formats like gummies, powders, and beverages to cater to changing consumer preferences.

Read More - 

https://www.newsanalyticspro.com/plant-collagen-market-growth-and-analysis-size-share-demand-and-trends-forecast/