Lactoferrin Market

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.

Market Dynamic

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 Function:

• Iron Absorption
• Anti-inflammatory
• Intestinal Flora Protection
• Antibacterial
• Immune Cell Stimulation
• Antioxidant

By Application:

• Food & Beverages
• Infant Formula
• Sports & Functional Foods
• Pharmaceuticals
• Personal Care Products
• Animal Feed

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

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.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• With a revenue share of more than 46.8%, the Asia Pacific area has emerged as the largest regional market. Throughout the projection period, the regional market is anticipated to hold its position. The region’s market expansion, which India, China, and Japan are leading, can be attributable to the rising population and consumer spending power. In contrast to most other regions, Asia Pacific features many small and medium-sized firms. The area’s lactoferrin market is also anticipated to grow due to increased literacy rates, consumer awareness of newborn nutrition, personal care, pharmaceutical products, and customer preference for organic goods.
• The second-largest regional market for lactoferrin was North America. The largest market in the area is now the United States. Demand for products has increased nationwide due to the rising prevalence of digestive disorders. Additionally, the number of specialty shops, hypermarkets, supermarkets, and incentive-based marketing programmes used by brand owners to increase their sales are anticipated to support the market expansion in the following years. Additionally, the market in the region is being driven by the existence of major market players that have adopted various marketing activities and techniques, including branding, to broaden business reach.

Competition Analysis

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:

• In June 2021, to meet the global demand, Beston Global Food Company Ltd. increased its manufacturing capacity for 0% pure lactoferrin up to 25 metric tonnes annually.
• In September 2020, to meet the rising demand for lactoferrin for infant formula, FrieslandCampina DOMO recently announced plans to boost its lactoferrin manufacturing capacity in Veghel, Netherlands, from 9 tonnes to 60 tonnes per year by 2022.

A list of some of the key suppliers present in the market 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

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.