Collagen supplements were well to the fore at the recent The Green Edit event held in Sydney and the market still has significant room for growth locally and internationally.
Look no further than Vida Glow, the Australian ingestible brand, which recently launched in the US through Revolve, Shen Beauty and Carbon Beauty. Founded in 2014 by Anna Lahey, the brand’s hero product is Vida Glow Natural Marine Collagen.
A new report from Insight Partners, the leading global private equity and venture capital firm with major investments in Australia, North America and Europe, reveals that rising international demand will see the global collagen market reach US$7.2 billion by 2028 – up from US$4.12 billion in 2021.
Collagen is also being widely used in various protein and vitamin supplements, confirms the report. The growth of veganism, especially in the US and Europe, will also fuel growth over the next five years.
The Asia/Pacific region will continue to be the fastest growing market, reveals Insight Partners, led by South Korea, Japan and China. In all major markets, including Australia, health and fitness concerns will accelerate demand for collagen and dietary supplements in the near future.
Collagen is also widely used in personal care products such as anti-ageing creams, body lotions, makeup and hair care and leading brands are also focused on developing more innovative products using collagen to appeal to changing consumer trends and needs.