PLANT COLLAGEN MARKET ANALYSIS

Market Challenges And Opportunities

• Limited Scientific Research
• Product Efficacy and Performance
• Consumer Perception and Awareness

Plant Collagen Market Drivers:

• Rising Demand for Plant-based and Natural Products: There has been a significant increase in consumer preference for plant-based and natural products across various industries including beauty and personal care, food and beverages, and dietary supplements. Plant collagen offers an alternative to animal-derived collagen, appealing to consumers seeking vegan, vegetarian, or cruelty-free options. For instance, in 2021, as per Nielsen Consumer LLC., in the 52 weeks ended July 31, 2021, grocery sales of plant-based foods that directly substitute animal products increased by 12.1% to $1.3 billion, and by 53% over the previous two years.
• Growing Health and Wellness Consciousness: Consumers are becoming more conscious of their health and wellness, and they are actively seeking products that offer health benefits. Plant collagen is often marketed as providing similar benefits to animal-derived collagen such as supporting skin health, promoting joint function, and improving hair and nail strength. This aligns with the increasing consumer focus on self-care and holistic well-being.
• Sustainability and Environmental Concerns: The environmental impact of traditional collagen production from animal sources has raised concerns among consumers. Plant collagen offers a more sustainable alternative, as it can be derived from renewable plant sources without the need for animal farming or extraction processes. This resonates with consumers who prioritize eco-friendly and ethical choices.
• Vegan and Vegetarian Lifestyles: The growing number of individuals adopting vegan and vegetarian lifestyles has fueled the demand for plant-based alternatives across various industries. For instance, in 2021, according to the National Institutes of Health, plant collagen caters to this market segment, as it allows vegans and vegetarians to access collagen-like benefits without compromising their dietary choices.

Plant Collagen Market Opportunities:

• Expansion of Product Offerings: There is an opportunity for companies to diversify their plant collagen product offerings. For instance, Procter & Gamble (US) announced the launch of a new line called Olay Regenerist Collagen Peptide 24, which is intended to assist achieve plump and bouncy skin by the year 2021. This can include developing new formulations, expanding into different product categories (such as skincare, supplements, or functional foods), and introducing innovative delivery formats to cater to various consumer preferences.
• Collaboration with Beauty and Personal Care Brands: Plant collagen can be integrated into beauty and personal care products, such as creams, serums, and masks, to provide anti-aging and skin health benefits. Collaborating with established beauty and personal care brands or formulating plant collagen-infused products under their own brand can help companies tap into the growing demand for natural and clean beauty products.
• Partnerships with Food and Beverage Companies: Plant collagen can be incorporated into food and beverage products, such as drinks, snacks, and functional foods, to offer collagen-boosting benefits. Collaborating with food and beverage companies to develop and market plant collagen-infused products can open up new avenues for growth and appeal to health-conscious consumers seeking convenient and functional food options.
• Targeting Specific Consumer Segments: There are opportunities to target specific consumer segments within the plant collagen market. This can include focusing on vegan and vegetarian consumers, individuals with dietary restrictions, or those seeking natural and clean-label products. By understanding the unique needs and preferences of these segments, companies can tailor their marketing and product development efforts to effectively reach and engage with these consumers.