The global bovine lactoferrin market is predicted to expand at a CAGR of 15.8% between 2023 and 2033, from USD 772.39 Million to USD 3,349.05 Million.
The increasing consumer awareness of health and diet and the growing incidences of skin-related medical issues are expected to stimulate demand. Lactoferrin is thought to have antiviral, antimicrobial, anti-parasitic, catalytic, and anti-allergic functions and characteristics, which will influence product sales in the personal hygiene and pharmaceutical industries.
The bovine lactoferrin market is anticipated to witness significant growth during the forecast timeframe as it has been shown in clinical trials to treat acute acne and other dermatological conditions. The Bovine Lactoferrin ELISA kit is also used in the treatment as it evaluates Lactoferrin (LF) in bovine biological samples.
Lactoferrin's anti-inflammatory characteristics eliminate the primary food source for pathogens by minimizing its contributors. Acne is the most common skin condition in the United States, impacting 40 to 50 million people yearly, based on the American Academy of Dermatology.
| Report Attributes | Details |
|---|---|
| Expected Market Value (2023) | USD 772.39 Million |
| Anticipated Forecast Value (2033) | USD 3,349.05 Million |
| Projected Growth Rate (2023 to 2033) | 15.8% CAGR |
Lactoferrin has anti-inflammatory properties that may be important in the pathophysiology of COVID-19 cases. The lack of a cure or vaccine for the virus resulted in high consumption of immunity boosters in 2020. Precautions for COVID-19 infection have found widespread applications, resulting in an increase in demand for lactoferrin-based products in the historical period.
For example, Jatcorp announced planned to launch 5 new lactoferrin-enriched immune powder formulas in China in May 2021. This release was made in response to the increased market demand for immune-boosting functional ingredients as a result of the COVID-19 pandemic.
However, rising demand for bovine lactoferrin among the general population has prompted a few market participants to focus on expanding their production capacities and will boost market growth over the upcoming decades. According to a report from Future Market Insights (FMI), from 2018 to 2022, sales witnessed significant growth, registering a CAGR of 10%.
Cost-effective Production Processes Implementation to Compel Sales Growth
Currently, several technology-oriented industries are focusing on developing a cost-effective method of manufacturing these products. Several researchers are also working to determine the effectiveness of this ingredient for delivering specific drugs in cancer treatment.
This, combined with an increase in the number of working women in the Asia Pacific and Europe region, tends to result in a decrease in the frequency of breastfeeding, causing a greater consumption of infant formula. Oral bovine lactoferrin, associated with the beneficial properties of lactoferrin in infant formula, is growing significantly, and the adaptation of this protein during infant formula manufacturing, cruising the bovine lactoferrin supplement market.
Conagen, Inc., for example, established a cost-effective lactoferrin production process using microbial fermentation technology in April 2020.
The increasing relevance of naturally produced supplements over chemical molecules motivates the market expansion
The increasing influence of naturally produced supplements over chemical molecules among the overall population has boosted the deployment of dietary supplements with the addition of lactoferrin in both developed and developing nations.
As a result, market players are progressively concentrating their efforts on these fields to make a profit. Furthermore, clinical trials to examine the effects of this component in the healthcare industry have increased by a factor of 25 to 30. As a result of this diversification of applications, a high intake of these products is anticipated to propel the bovine lactoferrin supplement market growth during the 2023 to 2023 period.
The high cost of lactoferrin and lactoferrin-containing items is restricting the adoption
Despite rising global demand for sophisticated nutritional and infant formula ingredients, specific factors are limiting the market growth. The elevated cost of items comprising bovine lactoferrin as a component is one of them.
Food, nutritional supplements, infant formula, and other equivalent segments require different amounts of protein purification ranging from 90.0% to 99.0%. The greater the purity demanded, the more expensive it is to produce, causing it to cost more.
The increased production of infant formula is credited to the region's dominance
In 2021, the Asia Pacific market is estimated to be valued at USD 335 Million. With a sales revenue of 42.5% in 2022, Asia Pacific emerged as the biggest regional market. During the forecast timeframe, the regional market is expected to uphold its position. Regional revenue growth, led by India, China, and Japan, can be attributed to the increased population and consumer buying ability.
In contrast to most other regions, Asia Pacific has a significant number of medium and small industries. Furthermore, high consumer acknowledgment of infant nutrition, personal care, and pharmaceutical drugs, as well as the preference of customers for organic foods, are expected to fuel the region's lactoferrin market.
Other important factors cruising the booming market for infant formula in this region are the decrement in breastfeeding rates and quality control of commercial bovine lactoferrin.
The growing incidence of Digestive Disorders has elevated Product Sales
In 2021, North America was the second-largest leading region for lactoferrin. The United States has emerged as the region's biggest market. The increased incidences of digestive issues have enhanced product sales across the nation.
Moreover, a spike in the proportion of specialty stores, hypermarkets, and supermarkets, as well as incentivized marketing infrastructure used by brand owners to boost sales, is anticipated to drive market growth in the near future. Furthermore, the presence of prominent market players in the region is influencing the market in the region by implementing multiple marketing plans and strategies, including advertising, to enhance business scope.
The specific benefits of the spray-dried segment contribute to industry growth
In 2022, the freeze-dried segment dominated the market. The high-grade quality of the final product, antioxidant properties, and substantially greater iron-binding potential are some of the key aspects attributed to segmental dominance.
The spray-dried segment, on the other hand, is anticipated to expand at a notable CAGR over the coming years. Specified advantages, such as flexible, scalable, and manageable particle methodologies, are aiding the expansion of this segment. Aside from that, spray drying is suitable for bulk applications.
The clinical efficacy of these ingredients, such as improved immunity and digestion, drives the market
In 2021, the infant formula segment led the lactoferrin market, with a profit share of more than 40%. From 2023 to 2033, the segment is predicted to expand at a consistent CAGR.
The surge in the prevalence of clinical data confirming infant formula integration with lactoferrin, as well as shifting customer dynamics toward infant supplementary foods, are anticipated to fuel the growth.
The popularity of infant nutrition is primarily from emerging nations, owing to high disposable income, hectic work timetables, and increased prevalence of iron deficiency among infants.
Key players in the Bovine Lactoferrin market are MILEI GmbH, Bega Cheese Ltd., Fonterra Co-operative Group Friesland Campina DOMO, Beston Global Food Company Ltd., SAVENCIA SA, Saputo Dairy Australia Pty Ltd., Freedom Foods Group Limited, Synlait Ltd., Glanbia Plc. and Ingredia among others.
| Report Attributes | Details |
|---|---|
| Market Value in 2023 | USD 772.39 Million |
| Market Value in 2033 | USD 3,349.05 Million |
| Growth Rate | CAGR of 15.8% from 2023 to 2033 |
| Base Year for Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Application, Region |
| Regions Covered | North America; Latin America; Europe; South Asia & Pacific; East Asia; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Mexico, Germany, United Kingdom, France, Spain, Italy, India, Malaysia, Singapore, Thailand, China, Japan, South Korea, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Glanbia Plc.; Fonterra Co-operative Group; Freisland Campine DOMO; Milei GmbH; Bea Bionutrients; Beston Global Australia Pty Ltd.; Saputo Dairy Pty Ltd.; Synlait Ltd.; Ingredia; Savencia SA; Freedom Food Group Limited |
| Customization | Available Upon Request |
FMI projects the global bovine lactoferrin market to expand at a 15.8% value CAGR by 2033
The global bovine lactoferrin market is estimated at a market value of USD 772.39 Million.
the global bovine lactoferrin market is expected to garner a market value of 3,349.05 Million.
FMI has projected Asia Pacific to be one of the key regions for the bovine lactoferrin market.
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Bovine Lactoferrin Market
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