Impact of the Regulatory, Cultural and Marketing Landscapes on Marine Collagen – An International Market Analysis

Abstract

Marine collagen has been identified as an essential structural protein that can be broken down to its peptide form, with great use in the biomedical, cosmetic and nutraceutical industries. This particular type of collagen can be obtained from the by-products of fish, extracting protein that carries biological potential which has then be studied extensively to find commercial viability. Thus, the global demand for marine collagen is growing significantly, utilising marine collagen for its commercial benefit. Revolution Fibres Ltd, a nanofibre manufacturing company, has developed a marine collagen nanofibre combination product named ActiVlayrTM and wish to navigate the international markets, understanding how and where it can be applied. Thus, the objective of this research is to provide a high-level understanding of the regulatory, cultural and marketing landscapes of two specific countries, understanding its impact on a marine collagen combination product, along with a recommended market entry strategy specific to Revolution Fibres Ltd. To understand these landscapes, a systematic review and case study approach was used to gather and identify the necessary information to understand the regulatory standards, cultural dimensions and market attractiveness of marine collagen and with a focus on ActiVlayrTM as a cosmetic product. The findings of this study indicate that the marine collagen is a commercially viable product, with real life applications within the markets described. Foreign markets such as USA and China have been identified as critical markets to enter, with regulatory, cultural and marketing landscapes favouring USA as a country of interest. The combination of macro-, micro-environmental factors involving an industry analysis and internal capabilities of Revolution Fibres have been assessed to create a recommended market entry mode strategy to aid in the discussion of global exploration of marine collagen.