Convenience, Taste, and Health Benefits Drive Sales Growth in the Collagen Gummy Industry
In a recent study conducted by Future Market Insights, Inc., the global collagen gummy market is on track to reach an estimated value of US$378 million by 2033, propelled by factors such as convenience, palatability, and perceived health benefits. The industry is experiencing significant growth, with key players engaging in strategic measures to introduce innovative products and maintain market dominance.
The projected global market value for collagen gummies is set to rise from US$247 million in 2023 to US$378 million by 2033, indicating a 4.3% Compound Annual Growth Rate (CAGR).
Growing consumer awareness about the convenience, taste, and health advantages of collagen gummies, coupled with increased health consciousness and easy online availability, contributes to the upward trajectory of market demand.
Collagen gummies are gaining popularity for their perceived positive impact on skin health, hair growth, joint health, and wound healing, driving substantial sales in the health supplement sector.
Rising global trends in health and wellness, coupled with a growing interest in nutricosmetics, are expected to further boost the collagen gummy industry. The expansion of e-commerce platforms and continuous product launches contribute to the industry’s promising growth prospects.
The global collagen gummy market is predominantly concentrated in North America and Europe, but the unavailability of sufficient collagen sources is shifting business focus toward Asian and African countries, leading to the diversification of the market.
Key industry players are implementing various strategies, including new product launches, mergers, celebrity endorsements, acquisitions, partnerships, and collaborations, to enhance sales and expand their global presence.
Notable developments in the collagen gummy industry include the introduction of a new product line by Novomins Nutrition Inc., featuring collagen gummies with hyaluronic acid, biotin, and vitamin C. The product is gluten-free, GMO-free, and devoid of artificial additives.
A pioneering startup, Jellatech, founded by Stephanie Michelsen and Kylie van Deinsen-Hesp, has introduced cell-based collagen and gelatin products, using cellular agriculture methods and eliminating the need for animal products.
- India anticipates a CAGR of 6.2% in collagen gummy demand.
- The United States holds a substantial market share of 30.8%.
- Sales in the United Kingdom are predicted to increase at a CAGR of 5.6% through 2033.
- China is poised to exhibit a CAGR of 6.1% from 2023 to 2033.
- The global market is estimated to total US$378 million in 2033.
- Berry-flavored collagen gummies are projected to hold a value share of 34% in 2023.
- Collagen gummies promoting skin health are expected to account for approximately 25% of market share in 2023.
As the collagen gummy market continues to expand, industry players are gearing up for increased competition, innovation, and strategic collaborations to maintain their foothold in this thriving sector.