According to a new report published by Allied Market Research, titled, “U.S. & Japan Collagen Supplements Market by Source, Form, and Sales Channel: Country Opportunity Analysis and Industry Forecast, 2021–2030,” the U.S. & Japan collagen supplement market size was valued at $796.5 million in 2020, and is projected to reach $1.6 billion by 2030, registering a CAGR of 7.4%.
Collagen supplement is a nutraceutical, which is made from the combination of Type I, II, III, & IV collagen extracts. Collagen supplement contain peptides that are easily digestible and are rich in essential amino acids. In addition, the growth of the U.S. & Japan collagen supplement market can be attributed to several health and beauty benefits associated with the ingestion of collagen supplement. For instance, the ingestion of collagen enhances the health of the skin by reducing dryness and wrinkles. It also increases muscle mass, improves bone health, and provides relief from joint pain. Moreover, the rise in diseases, such as arthritis, rheumatoid arthritis, and other inflammatory bone diseases, has encouraged consumers to inculcate special supplement to keep themselves agile.
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The rapid spread of the coronavirus positively affected the growth of the U.S. & Japan collagen supplement market as the consumers have shifted toward health consciousness and fitness. Furthermore, the distribution landscape for functional foods & beverages is rapidly changing with increase in penetration of modern retail including supermarkets, hypermarkets, and e-commerce. Greater number of non-grocery retailers, such as mass merchandisers, drugstores, and retail chains are expanding their food supplement space to fulfil the surge in demand. The easy availability of supplement due to improvement in the retail infrastructure has been beneficial to the sales of nutraceuticals such as collagen supplement. In addition, there are many sales channel like internet pharmacy which are quick in delivering the requirements with available discounts.
Moreover, many supplement are also available over the popular online retailers like Amazon, ubuy, Walmart, Yahoo! Shopping Japan, iHerb and others websites. Therefore, surge in number of distribution channels and easy availability leads to the growth of myriad U.S. & Japan collagen supplement market opportunities. However, these is a large consumer shift toward veganism as during vegunary’s challenge in 2020, about 500% of increase toward veganism was found as compared to 2014. As many as 6% of the U.S. population said that they are vegan which was just 1% during 2014. In addition, there were more than 500,000 participants who signed up for vegunary’s challenge in 2021 which was 25% more than the challenge of 2020. In 2020 there were 400,000 participants only.
The U.S. & Japan collagen supplement market is segmented on the basis of source, form, and sales channel. By source, the market is divided into marine & poultry, porcine, and bovine. By form, it is fragmented into pills & gummies, powder, and liquid/drinks. By sales channel, it is categorized into pharmacy, specialty stores, and online stores. Country-wise the market is bifurcated into U.S. and Japan.
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By source, the bovine segment was the largest revenue contributor in 2020 and is expected to remain dominant during the U.S. & Japan collagen supplement market forecast period. The growth of this segment is attributed to the popularity of these supplement among the bodybuilders and athletes. The marine & poultry segment is projected to grow at the fastest CAGR of 8.0% during the forecast period.
By form, the pills & gummies segment was the largest & fastest-growing segment in 2020 and is expected to remain dominant during the forecast period. The of this segment can be attributed to an increase in demand and consumption of dietary supplement that come in the form of pills and gummies, owing to the rise in health concerns among consumers. Furthermore, an increase in inclination of consumers toward the consumption of dietary supplement to help recover after exercise and help in the growth of muscles is expected to fuel the growth of the pills & gummies segment in the future.
By sales channel, the pharmacy segment was the largest revenue contributor in 2020 and is expected to remain dominant during the forecast period. The growth of this segment can be attributed to pharmacies being often considered as much more trusted sources to acquire medication and supplementation. Moreover, services, such as home delivery through mails and consultations with pharmacists, further boost the U.S. & Japan collagen supplement market growth. However, the online stores segment is projected to grow at the fastest CAGR of 8.1% during the forecast period.
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Country-wise, U.S. held the highest share in 2020, in terms of revenue generation, garnering more than half of the share of U.S. & Japan collagen supplement market share. The U.S. is further expected to expand at a notable growth rate exhibiting the highest share during the forecast period and Japan in the U.S. & Japan collagen supplement market is expected to witness notable growth during the forecast period. The market growth in these countries can be attributed to increased adoption of healthy food and supplement.
Key Findings Of The Study In U.S. & Japan Collagen Supplements Market
- On the basis of source, the marine & poultry segment is projected to witness the highest CAGR of 8.0%, in terms of revenue, during the forecast period of U.S. & Japan collagen supplement market.
- On the basis of form, the pills & gummies segment is expected to dominate the U.S. & Japan collagen supplement market through 2021-2030.
- On the basis of sales channel, the pharmacy segment occupied the largest market share in 2020, and is expected to grow at a significant CAGR during the forecast period.
- On the basis of country, the U.S. was the largest country in terms of demand for U.S. & Japan collagen supplement market in 2020.
- On the basis of country, U.S. is anticipated to witness the highest growth rate, registering a CAGR of 7.5% from 2021 to 2030 of U.S. & Japan collagen supplement analysis.
- Growing health awareness among the consumers the U.S. & Japan collagen supplement market trend, which is positively affecting the market growth.
The key players in the U.S. & Japan collagen supplement market have adopted product launch and expansion as their key strategies to stay competitive. The key players profiled in the report include Codeage LLC, Further Food, Shiseido Company, Limited, The Bountiful Company, The Clorox Company, Vital Proteins, Llc, Meiji Holdings Co., Ltd., Eisai Co., Ltd., Nizona Corporation, and Nitta Gelatin Inc. Accoanading to the market players, the major obstacle faced by them attributed to the pandemic was the disruption of supply chain.
