Lactoferrin Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Lactoferrin Market grew at a CAGR of 7.7% between 2017-2021 and is estimated to be US$ 339.8 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 8.4% and is expected to reach a valuation of US$ 761.2 Mn by 2032 end.
Demand is anticipated to increase as consumers become more conscious of their nutrition and general health and skin-related illnesses become more common. Since lactoferrin is thought to have antiviral, antibacterial, antiparasitic, catalytic, and anti-allergic functions and qualities, the pharmaceutical and personal care industries are expected to stimulate product demand.
Acne affects over 40 to 50 million Americans annually, making it the most common skin problem in the country, according to the American Academy of Dermatology.
THE ACNE TREATMENT MARKET EXPECTED TO WITNESS STRONG GROWTH
As a result, it is anticipated that the market for acne treatments will experience rapid expansion during the forecast period. Numerous clinical studies have demonstrated lactoferrin’s potency in treating skin disorders, including acne. Lactoferrin eliminates the primary food supply for infections by neutralizing its contributions because of its anti-inflammatory characteristics.
According to the World Health Organization (WHO), 50% of women and 42% of men reported having acne in their twenties, 35% of women and 20% of men in their thirties, 26% of women and 12% of men in their forties, and 15% of women and 7% of men in their fifties.
HIGH COST OF LACTOFERRIN TO LIMIT THE ADOPTION IN DIFFERENT PRODUCTS
Despite increasing demand for infant formula and advanced nutritional products worldwide, several obstacles limit the market’s expansion. One of them is the price of goods using bovine lactoferrin as an ingredient. Different market areas, including food, dietary supplements, infant formula, and comparable others, call for protein purity levels ranging from 90.0% to 98.0%. The more pure the product must be, the more expensive it is to produce, which drives its cost.
In addition, costs are predicted to rise 2 to 4 times as purity rises. For instance, the cost per kg of lactoferrin for nutritional supplements is higher than for other food applications (which only require 90.0% purity). Consequently, the price swings and noticeably greater costs of
RECENT DIVERSIFICATION IN APPLICATIONS IS A VITAL TREND
Applications for bovine lactoferrin have dramatically increased during the last few years. Infant formula was regarded as the primary application up until 2015. However, for now, the emphasis is largely on uses in food, pharmaceutical, dietary supplement, and other industries. In industrialized and developing nations, the consumption of nutritional supplements with added lactoferrin has increased due to the general public’s preference for naturally produced supplements over those made of chemical compounds.
Market Segments Covered in Report
By Region and Country:
Which is the most important function segment in the Lactoferrin market?
Immune Cell Stimulation is the most important function segment in the Lactoferrin market
Which application is expected to expand the fastest during the forecast period?
The infant formula category dominated the lactoferrin market with a market share of more than 38.89% in 2021. From 2023 to 2032, the segment is anticipated to grow at a consistent CAGR. The number of clinical studies supporting infant formula integration with lactoferrin is expected to rise, and consumer attitudes about infant supplementary meals are expected to change, contributing to the increase in demand. The developed economies account for most of the need for newborn nutrition due to their high disposable income levels, demanding work schedules, and rising rates of infant iron insufficiency.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
These actions have enabled market participants to increase their clientele and revenue. With the increasing demand for lactoferrin worldwide, market players can anticipate attractive growth prospects in the future.
Some of the key developments that have taken place in the Lactoferrin Market include the following:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Function, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 8.4%.
The acne treatment market is also subsequently expected to witness strong growth during the forecast period.
Major global Lactoferrin Market players are Hilmar Cheese Company, Pharming Group NV, FrieslandCamina, Synlait Milk Ltd., Ingredia SA, MP Biomedicals, Tatura Milk Industries Ltd., Glanbia plc, APS BioGroup, ProHealth, Fonterra Cooperative Group Ltd., Farbest Brands, InVitria, Milei GmbH, Ferrin-tech LLC
High cost of lactoferrin to limit the adoption in different products
Asia Pacific Region is expected to account for the largest market revenue share in the Global Lactoferrin market.
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