Lactoferrin Market Report | Industry Diversification Across Region, Types and Application Till 2028
According to the current analysis of Reports and Data, the global Lactoferrin Market was valued at USD 219.3 Million in 2020 and is expected to reach USD 374.0 Million by the year 2028, at a CAGR of 6.8%. Iron deficiency and diarrhea are two of the most significant issues for global health. Iron deficiency anemia is the most common nutritional deficiency in the world, affecting nearly 25% of the world population (UNICEF/WHO 1999). The prevalence of iron deficiency in developing countries is illustrated by comparison with other deficiencies: iron deficiency affects 3.5 billion people, while vitamin A and iodine deficiency affect 0.3 billion people and 0.8 billion people, respectively.
Rising demand of lactoferrin in sports and infant nutrition, increasing prevalence of skin disorders, and increase in iron-defeciency syndromes across the world are factors propelling the growth of the global Lactoferrin market. News products being launched by manufacturers, and companies investing in plant expansion are expected to supplement growth. However High ingredient development costs and stringent government regulations are factors hindering the growth of the market.
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Some of the key market players for this market are Metagenics, Inc., Pharming Group NV, Westland Cooperative Dairy Co., Ltd, Synlait Milk Ltd., Ingredia SA, MP Biomedicals, Tatura Milk Industries Ltd, Glanbia PLC, APS BioGroup, and ProHealth.
The report offers strategic recommendations for market players and new entrants and also provides graphical representation of top companies’ share to provide a competitive edge to the readers.
The food and beverage industry is involved in transforming raw food materials into consumer food products. The sector includes groceries, oils and fats, food additives, functional foods and beverages, canned food, packaged foods, health and natural foods, baby food, animal food, syrup, baked food, soft drinks, alcoholic and non-alcoholic drinks, energy drinks, and packaging. The companies in this industry are looking for innovations in food that meet the changing consumer’s preferences in terms of global flavors, and varieties. The touchless transactions, open kitchen concept, ghost kitchens and e-commerce trends (especially during Covid 19) are reshaping the food and beverage sector.
The global Lactoferrin market research report provides a competitive strategy analysis portfolio to provide a better understanding of the competitive landscape. The study gives a 360-degree view on business policies, company profiles, price, cost, revenue, and business contracts. Furthermore, it offers massive data relating to recent trends, technological advancements, tools, and methodologies.
Further key findings from the report suggest:
- Bovine milk is by far the largest source from which lactoferrin is derived for human consumption. Other mammalian species from which lactoferrin is extracted include pigs, and rodents from the family Muridae.
- Transgenic rice is also being grown which expresses lactoferrin, and from which the ingredient could be easily extracted
- In 2019, Freedom Foods of Australia announced plans to start production of lactoferrin from its new plant based in Shepparton. The firm is active in the infant formulation production, functional foods and beverages sector
- Europe is dominating the market, with the highest market share of 30. % in 2018. Germany contributed the largest revenue share to the European Lactoferrin market. The Netherlands is also a significant contributor to this market due to the country’s large dairy sector
- Anti-oxidant and anti-microbial properties of the ingredient have helped lactoferrin to be an ingredient for choice in infant formulations and functional foods
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Source (Revenue, USD Million; 2016–2026)
- Bovine milk
- Rice Flour
- Porcine milk
- Human milk
- Caprine milk
- Murine milk
Applications (Revenue, USD Million; 2016–2026)
- Iron Absorption
End user (Revenue, USD Million; 2016–2026)
- Food and Beverage
- Infant Nutrition
- Functional Supplements
- Pharmaceutical Industry
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Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Rest of the Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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Objective of Studies:
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment by application, product type and sub-segments.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Lactoferrin market.
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