Global Lactoferrin Market
Lactoferrin Market Size
The global Lactoferrin market size is estimated to be valued at USD 220.4 million in 2022 growing with a CAGR of 8.0% and is projected to reach USD 400.2 million by 2030.
Lactoferrin is a kind of protein possessing brilliant iron-binding properties. Lactoferrin is used to heal many bacterial and viral infections and disorders related to the human digestive system. Lactoferrin has antibacterial, antiviral, anti-carcinogenic, and anti-inflammatory properties in it. Lactoferrin is a new solution for anemia and is honored to be a part of the transferrin family.
In general, lactoferrin is extracted from bovine milk. Lactoferrin is used as a medicine for treating various diseases like hepatitis C, stomach and intestinal ulcers, and diarrhea. Lactoferrin offers many advantages like avoiding tissue damage, preventing cancer, and increasing the immunity system.
Bovine milk is a prominent source of lactoferrin. In reality, lactoferrin was first isolated in bovine milk and next in human milk. The highest concentration of lactoferrin is found in human milk. Cow milk is the healthiest diet but causes anemia in babies and toddlers.
Factors like changing consumer taste and choice for a healthy lifestyle and rising knowledge regarding health advantages of lactoferrin propel the market growth. Skin-related issues and digestion-related health problems will encourage the market value for lactoferrin. The easy availability of lactoferrin as online and offline retail too. Lactoferrin is available in powder form. Rising research and development activities for extracting lactoferrin from cow milk augments the market growth.
Pharmaceutical companies are rising experiencing to combining lactoferrin as an active ingredient in many antimicrobial and anti-bacterial products supporting the market growth. Growing health and diet awareness among the young generation is accumulating the market growth. Because of the product advertising creativity, the consumers are more aware and integrated with a shift towards organic products with fewer side effects and high efficacy bolster the market demand. The acne treatment is subsequently projected to observe robust developments and immense clinical trials have proven the efficiency of lactoferrin to easily treat acne and other skin conditions.
Moreover, the increasing expenses of the consumers with wide research and development activities flourish the lactoferrin market growth during the forecast period. Lactoferrin is used for manufacturing various cosmetics and personal care products because of its favorable anti-aging, anti-allergic, and acne-treating elements.
However, consuming lactoferrin results in adverse effects like diarrhea poses a major challenge to the lactoferrin market growth.
Recent Market Developments
The global Lactoferrin Market is based on function and application.
Lactoferrin Market - By Function
The iron absorption segment by function held the largest share for more than 30% of the market in 2022. In general, iron deficiency results in anemia affecting 30% of the population globally. Lactoferrin plays a vital solution in anemia. The high level of lactoferrin and its bioavailability with its capacity to mount serum ferritin levels by five times enable efficient absorption of iron compared with other iron sources.
As per WHO, over 1.62 billion people worldwide are affected with anemia with the largest occurrence witnessed among pre-school-going children with 47.6% of the total affected population.
Lactoferrin Market - By Application
The infant formula application segment dominated the lactoferrin market with the highest share in terms of revenue. The segment accounted for more than 38.2% in 2022. The infant nutrition demand is increasing majorly from developed nations with a significant rise in disposable income stimulating the market growth. Lifestyle changes are proved to be an issue who breastfeed their infants.
The personal care products segment is anticipated to record the highest CAGR rate throughout the forecasted period. The demand for the products across personal care products is accumulating because of its soothing nature and native properties which helps in skin inflammation.
Regionally, Asia-Pacific has appeared as the largest region spearheading the market with the highest share in the lactoferrin market globally. The region accounts for more than 42.8% and maintains its dominant position throughout its timeline period. China, India, and Japan are the leading economies in APAC. The rise in population and growing consumers expenditure capacity drive market growth in APAC.
The mounting consumption of infant formula products is driving the region's market growth.
North America is the second-largest region for the lactoferrin market in 2022. The product demand across the region is driven by increasing digestive distresses along with the growing number of specialty stores, supermarkets, and incentivized marketing systems. The brand owners who have adopted supermarkets and other systems are expanding their sales to bolster the market growth.
The U.S and Canada are the major contributors to the lactoferrin market in North America. The advent of key players across the countries is adopting diversified marketing initiatives and strategies including branding to enlarge business reach is leading the region's market growth.
Nearly 50 million Americans are affected by acne every year where 85% of those aged 12 to 24 years suffer from mild acne as per American Academy of Dermatology.
Europe is expected to produce a prominent share in terms of revenue for the lactoferrin market. The UK and Germany's market growth owes to quick and strong performance. Germany's most innovative food and industry areas with proper milk production volume for 313 million metric tons in 2017. In Europe, increasing cases of skin-related and dermatological problems are observed.
The European Food Safety Authority (EFSA) has classified lactoferrin as a safe milk protein to be used across diverse applications.
Latin America and the Middle East and African regions are anticipated to have moderate growth during the foreseeable period. However, the regions are expected to register notable growth in the forthcoming years. Consumers are more conscious about the significance of animal health and suitable nutrition boosts the market further.
Top major vendors in the global Lactoferrin Market
Here are some market players operating in the Lactoferrin Market include:
During the COVID-19 pandemic, the demand for lactoferrin-based infant formula products has experienced a quick increase. Because of the pandemic crisis, the demand for supplements is on a high rise. With the quick spread of the virus, worldwide nations have decided to impose strict lockdowns to prevent the virus. Due to the imposed lockdowns, the offline stores were closed temporarily. The manufacturers have faced serious issues regarding the supply of raw materials.
Online sales have experienced a quick growth in meeting customer needs. The companies have lowered the opening hours of the stores and motivated the customers to follow the social distancing norms and to use contactless payments.
Chapter 1. Global Lactoferrin Market – Scope & Methodology
1.1. Market Segmentation
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. Global Lactoferrin Market – Executive Summary
2.1. Market Size & Forecast – (2021 – 2026) ($M/$Bn)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2021 - 2026
2.3.2. Impact on Supply – Demand
2.3.3. Impact on Production Cost
2.3.4. Impact on Supply Chain
Chapter 3. Global Lactoferrin Market – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier - Distributor Analysis
Chapter 4. Global Lactoferrin Market Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3 Customer Analysis
4.4. Porters Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
Chapter 5. Global Lactoferrin Market – Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. Global Lactoferrin Market – By Function
6.1. Iron Absorption
6.3. Intestine Flora Protection
6.5. Immune Cell Stimulation
Chapter 7. Global Lactoferrin Market – By Source
7.1. Bovine milk
7.2. Rice Flour
7.3. Porcine milk
7.4. Human milk
7.5. Caprine milk
7.6. Murine milk
Chapter 8. Global Lactoferrin Market – By Form
8.1. Spray Dried Powder
8.2. Freeze-dried Powder
Chapter 9. Global Lactoferrin Market – By Application
9.1. Food & Beverages
9.2. Infant Formula
9.3. Sports & Functional Food
9.5. Personal Care Products
Chapter 10. Global Lactoferrin Market – By Distribution Channel
10.1. Direct Sales Channel
10.2. Indirect Sales Channel
Chapter 11. Global Lactoferrin Market, By Geography – Market Size, Forecast, Trends & Insights
11.1. North America
11.2.7. Rest of Europe
11.3. Asia Pacific
11.3.2. South Korea
11.3.5. Australia & New Zealand
11.3.6. Rest of Asia-Pacific
11.4. Rest of the World
11.4.1. Middle East
11.4.3. South America
Chapter 11. Global Lactoferrin Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)
12.1. Company 1
12.2. Company 2
12.3. Company 3
12.4. Company 4
12.5. Company 5
12.6. Company 6
12.7. Company 7
12.8. Company 8
12.9. Company 9
12.10. Company 10
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