Market Trends of collagen Industry
Healthy snacking preference to support market growth
- Consumers across the world are increasingly adopting a snacking lifestyle and becoming more health-conscious. They also prefer nutritious alternatives to traditional snacks. In June 2021, in the United Kingdom, approximately 25% of Gen Zs (16–24 years old) preferred "low in calories" snacks, 18% of millennials (25–34 years old) prioritized healthy snacks high in protein, and 36% of individuals over 55 looked for "low" or "no sugar" in their snacks. Thus, established industry operators have developed various low-fat and low-calorie options.
- In 2020, the onset of COVID-19 and consequent lockdowns resulted in the snack market's unprecedented growth of 14.51%, compared to 3.12% growth in the previous year. Due to scarcity or limited stock, consumers began looking into new brands and snack options while panic buying increased. Due to limited restaurants being open, people continued to eat at home. This factor allowed producers to create unique flavors based on their customers' preferred restaurant menus, boosting the country's snack market. Whisps Snack, for instance, debuted its tangy ranch cheese crisps and nacho cheese crisps in 2020. Two new Popchips product lines were introduced by Velocity Snack Brands in 2020.
- As users frequently discover food trends, inspiration, and connections on their feeds, social media is becoming a more important source of discovery, which is benefitting the snacking market. More than half of the consumers worldwide, including even greater majorities of Gen Zs (70%) and millennials (71%), believe that social media has encouraged them to explore a new snack in the past year.
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Meat production contributes majorly as raw material for collagen manufacturers
- Meat is an important source of nutrition for people around the world. Global demand for meat has been seen growing over the past 50 years,with meat production tripled. Global produce presently stands at more than 350 million tonnes each year. Regionally, Asia-Pacific holds the position of being the largest meat producer, contributing a substantial portion of the total global meat production. This represents a significant shift from previous decades. Also, Europe's meat output has approximately doubled in recent years. China is projected to account for most of the total increase in meat production, followed by the United States, Brazil, and India.
- The United States stands as the largest producer of beef and buffalo meat, followed by Brazil and China. Other notable producers in this sector include Argentina, Australia, and India. The United States leads in poultry production, with China and Brazil also being major producers. Europe collectively contributes a significant amount to global poultry production, comparable to that of the United States. In high-income countries, however, where per capita consumption is already high, demand is anticipated to level off or trend lower given aging populations and greater dietary concerns that seek more diversity in protein sources
- Global herd and flock expansion, especially in China, combined with continuous improvement in animal breeding, management, and technology will increase productivity, particularly in low- and middle-income countries, which will drive production growth. The increase in global meat production is influenced mainly by growth in poultry meat.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Asia-pacific held major market share
- Healthy trends in beverages impacting market growth
- Hike in the demand for single-serve packets may augment production
- Dairy alternative to witness significant growth
- Meat protein alternatives are revolutionizing the meat segment
- Rising health awareness and growing demand from millennials
- Natural ingredients highly driving the segmental sales
- Strong hold of the retail sector is supporting market growth
- Growing preference for convenient breakfast options
- Rising at-home consumption and demand for healthy confectionery products
- Growing nutritional concerns for aging populations
- Ready-to-cook and frozen foods witnessed a surge in sales
- Growing demand for compound feed
- Animal protein consumption and usage in cosmetics and nutracosmetics, are supporting the market growth globally
