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Lactoferrin Market Size
Lactoferrin Market size is predicted to witness more than 7.2% CAGR between 2023 and 2032. Lactoferrin has gained significant attention in various industries due to its diverse range of health benefits and applications. With a growing demand for lactoferrin-based products worldwide, the product has become a vital component for functional foods, dietary supplements, pharmaceuticals, and cosmetics. Moreover, there is a surge in number of health issues like CVDs and other acute diseases which is pushing people toward the adoption of dietary supplements.
Lactoferrin Market Drivers and Restraints
There is rising prevalence of skin diseases and other dermatological issues among people across the globe. With the increasing consumer awareness regarding the health benefits of lactoferrin, such as its antimicrobial and immunomodulatory properties, the product demand will grow, adding to market value. Despite the promising growth prospects, the market faces certain restraints. The high production cost associated with extracting lactoferrin from natural sources, such as bovine milk, poses a challenge in terms of affordability and scalability. Additionally, regulatory constraints and quality control issues in the production of lactoferrin-based products can hinder market growth.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 7.2% |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 365 |
| Tables, Charts & Figures: | 509 |
| Segments covered: | Product, Form, Source, Function, Application, Distribution Channel |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Lactoferrin Market Trends
One significant trend in the global lactoferrin market is the increasing adoption of lactoferrin in cosmetic and skincare products, driven by its anti-inflammatory and antioxidant properties. This trend aligns with the growing consumer preference for natural and sustainable ingredients in personal care products. The development of innovative delivery systems, such as nanotechnology-based formulations, is enhancing the bioavailability and efficacy of lactoferrin, expanding its applications across various industries. Furthermore, there is a rising trend towards lactoferrin fortification in a wide range of food and beverage products, including dairy products, functional beverages, and cereals, to cater to health-conscious consumers.
COVID-19 Impact
The COVID-19 pandemic has had a dual impact on the lactoferrin market. On one hand, the increased focus on immunity-boosting products during the pandemic boosted the demand for lactoferrin-based supplements and functional foods. On the other hand, disruptions in the supply chain and production processes, as well as regulatory challenges, negatively affected the market's growth trajectory. However, as the global economy recovers and the medical industry continues to prioritize immune health, the market is expected to rebound and showcase sustained growth.
Lactoferrin Market Analysis
The iron absorbing function segment of lactoferrin market is projected to record over 7.4% CAGR from 2023 to 2032. Iron deficiency remains a global health concern, and lactoferrin is being increasingly utilized to enhance iron absorption in dietary supplements and fortified food products. The ability of lactoferrin to bind with iron and transport it effectively within the body makes it an attractive choice for addressing iron-deficiency anemia and related conditions. This segment is poised to observe substantial growth as more consumers seek natural alternatives to traditional iron supplements.
The infant formula application segment is anticipated to witness significant growth through 2032. Lactoferrin is naturally present in human breast milk and plays a vital role in infant nutrition, aiding in the absorption of iron and supporting the immune system development of newborns. As a result, lactoferrin is being incorporated into infant formula products to mimic the benefits of breast milk, thereby boosting its demand. The increasing birth rate and the trend towards breastfeeding alternatives further fuel the growth of this segment, making it a significant contributor to the overall market.
Asia Pacific lactoferrin market is estimated to register gains at nearly 7.7% up to 2032. The increasing disposable income, growing awareness of health and wellness, and a booming pharmaceutical and nutraceutical industry in countries like China, Japan, and India have led to a surge in demand for lactoferrin-based products. Moreover, the region's robust dairy industry serves as a steady source of lactoferrin. This factor, along with the government initiatives to improve infant nutrition in countries with large populations, such as China and India, is making Asia Pacific a lucrative avenue for lactoferrin producers to explore and exploit in the coming years.
Lactoferrin Market Share
The major players in the global lactoferrin market are
- Westland Cooperative Dairy Co. Ltd.
- Pharming Group NV
- APS BioGroup
- Glanbia plc
- Synlait Milk Ltd.
- MP Biomedicals
- Farbest Brands
- Milei GmbH
- FrieslandCampina
- InVitria
- Hoogwegt Group B.V.
- Warrnambool Cheese and Butter Company
- Bega Cheese Limited
- Metagenics, Inc.
- Ferrin-Tech LLC
- ND Pharma & Biotech Ltd.
- Fonterra Cooperative Group Ltd.
Lactoferrin Industry News
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In May 2023, Westland Cooperative Dairy Co. Ltd. launched the lactoferrin program with the launch of a new plant in New Zealand. The company aims to promote the use of lactoferrin in many more products due to its benefits. The investment aims to expand the company’s product portfolio containing lactoferrin.
- In August 2022, Junlebao Dairy Group, a Chinese dairy company, launched a new infant formula which was said to contain high quantities of lactoferrin. This product was one of the first to have the highest lactoferrin content as the company focuses on immunity.
This lactoferrin market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons & revenue in USD Million from 2018 to 2032 for the following segments:
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By Product
- Apolactoferrin
- Hololactoferrin
By Form
- Capsules
- Powder
- Others
By Source
- Rice Flour
- Human Milk
- Animal Milk
- Bovine Milk
- Porcine Milk
- Caprine Milk
- Ovine Milk
- Others
By Function
- Iron absorption
- Anti-Inflammatory
- Intestinal Flora Protection
- Antibacterial
- Immune Cell Stimulation
- Antioxidant
By Application
- Food & Beverage products
- Infant Formula
- Sports & Functional Foods
- Pharmaceuticals
- Cosmetics
- Animal Feed
- Others
By Distribution Channel
- Supermarket/Hypermarket
- Online
- Drugstore
- Nutrition & Health Food Store
- Others
The above information has been provided for the following countries:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Asia Pacific
- China
- India
- Japan
- Thailand
- Australia
- Malaysia
- South Korea
- Latin America
- Brazil
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
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