The Global Benelux collagen market share is anticipated to grow eminently owing to its wide utilization in the healthcare and pharmaceutical industry. Titled, “Benelux Collagen Market Size, Share and Industry Analysis, By Type (Hydrolyzed Collagen, Native Collagen, and Gelatin), Source (Bovine, Marine, Poultry, Others), Application (Food and Beverages, Healthcare and Pharmaceuticals, Cosmetics, and Others), and Regional Forecast, 2020 2027.” The Benelux collagen market stood at USD 279.6 million in 2019. It is projected to grow from USD 285.5 million in 2020 to USD 402.6 million in 2027 at a CAGR of 5.03% in the forecast period.
Disruption amid COVID-19 Outbreak to Slowdown the Economy
The Benelux economy has been adversely affected by the COVID-19 outbreak. This has resulted in the closedown of manufacturing facilities globally, affecting numerous industries including food and beverages, medication, and others. In addition, the delay in raw material supply and shortage of labor force is further impacting the recovery of supply chains. Various food manufacturers and processors operating in these countries are struggling to survive the crisis.
Highlights of the Report:
The report comprises a close study of competitive developments of key players including expansions, mergers and acquisitions, collaborations, partnerships, agreements, and new product developments. It also includes detailed insights about micro markets with respect to contributions, prospects, and trends. Research on the consumption of the product/service in the region, as well as indicators of factors affecting the market within each region, has been thoroughly conducted.
Wide-scale Applications in Biomedical Space to Drive Growth
Extensive utilization of the protein in various biomedical applications, such as cardiovascular surgery, plastic surgery, orthopedics, ophthalmology, and others, due to its excellent biocompatibility and biochemical properties is expected to drive the growth of the Benelux collagen market. For instance, according to the International Journal of Pharmacy Teaching and Practices in 2017, collagen sponges, mini-pellets, and gel preparations are utilized as a biomaterial for drug delivery due to their biodegradable nature and synergism with other bioactive compounds present in the body. However, the availability of plant-based alternatives and substitutes for animal-derived collagen is estimated to hamper growth.
Gelatin Segment to Dominate Fueled by Usage in Food and Beverages as a Thickening Agent
By type, the hydrolyzed collagen segment generated 43.76% in terms of the Benelux collagen market share in 2019. This growth is attributable to the increasing usage of this product in powdery supplements. The gelatin segment would lead the market stoked by its usage as a thickening or clarifying agent in food and beverages.
Rapid Growth in Food and Beverages Industry to Help Netherlands Gain Prominence
The Netherlands is anticipated to dominate the Benelux collagen market due to the rapid growth of the food and beverages industry in the country. For instance, according to the United States Department of Agriculture report 2019, the food processing industry in the Netherlands accounted for USD 82.5 billion in 2017 and USD 92.4 billion in 2018. In addition, the increasing demand from consumers for nutritious and healthy food products is expected to drive the Benelux collagen market growth.
Belgium and Luxembourg are anticipated to hold the second and third positions, respectively in the market. The increasing investments on research and development by key enterprises in these countries to improve the quality of the product are anticipated to boost the growth of Benelux collagen in the respective countries. In addition, the growing popularity and wide use of collagen in various end-use industries are expected to further enhance growth.
Competitive Landscape-
Strategic Partnerships to Aid Key Players in Diversifying their Product Lines
The Benelux collagen market comprises several developers and manufacturers that are constantly working on the development of the industry. The key players are focusing on strategic partnerships to expand their businesses. This will aid them in strengthening their presence in the Benelux union. For instance, in September 2020, The Hut Group, a British e-commerce company, acquired Perricone MD, a luxury skincare brand. This acquisition is estimated to expand the company’s business capabilities with the help of an established distribution network from Perricone MD.
A List of Key Manufacturers Operating in the Benelux Collagen Market Report:
Industry Developments-
Life is full of surprises, and financial needs can crop up when least expected. Whether…
Alix Earle is a young influencer and social media celebrity who is widely popular on…
Trailing plants are well-loved by gardeners and plant lovers because of their growth patterns and…
Is Max Baer of age 103 and is one of the oldest celebrities alive? To…
Giving birth has always been considered to be a miracle. However, it is also a…
She is an American dancer, social media personality and Tiktok star. Brooke Monk is recognised…