Bovine Lactoferrin Market Research, 2031
The global bovine lactoferrin market was valued at $353.3 million in 2021, and is projected to reach $750.9 million by 2031, growing at a CAGR of 7.8% from 2022 to 2031. Lactoferrin is a protein found in human milk, animal milk, and other bodily fluids. Lactoferrin helps regulate how well iron is absorbed into the body from the intestine. It also seems to protect against infections from bacteria, viruses, and fungi. Lactoferrin is often used to treat low iron levels in pregnant women and to prevent blood infections in preterm newborns. Bovine lactoferrin is derived from the bovine milk and is used for various nutritional purposes.
Increase in demand for the dietary supplements worldwide and escalating demand of the nutritional foods is expected to majorly drive the bovine lactoferrin market growth. Growing demand for convenient feeding has prompted infant food manufacturers to offer nutrient-rich supplements to cater to the growing number of working moms throughout the world. In addition, numerous clinical studies have demonstrated lactoferrin's potency in treating skin disorders including acne, and its use in pharmaceutical & personal care products, antibacterial, anti-viral and anti-inflammatory purposes.
Many market players are launching new products to drive the bovine lactoferrin market forecast. It builds immune in the body to fight against the acute respiratory infection. Furthermore, currently many key market players are developing cost effective and affordable techniques for manufacturing is a lucrative bovine lactoferrin market opportunity for expansion. However, promotion of the breast-feeding practices is a major restraining factor of the market, as this leads to decrease in demand of infant formula thereby affecting the demand of lactoferrin industry.
Impact of COVID-19
The COVID-19 outbreak is anticipated to have a positive impact on the allergic conjunctivitis market. A huge number of clinics and hospitals across the globe were restructured to increase hospital capacity for patients diagnosed with COVID-19. Non-essential procedures took a potential backlog, owing to rapidly rising COVID-19 cases. The lockdown led to disruption of manufacturing and transportation of healthcare essentials. Furthermore, other factors responsible for the impact on the market include limited availability of medical care, shortage of healthcare staff, and rise in burden of COVID-19 related hospitalization.
The COVID-19 outbreak is anticipated to have a positive impact on the growth of the the global bovine lactoferrin market. Bovine lactoferrin products are highly widespread, and while the health-care system focused on the COVID-19 pandemic, these patients still need lactoferrin to boost immunity.
Bovine Lactoferrin Market Segmentation
The global bovine lactoferrin market is segmented on the basis of product type, application, function, and region. On the basis of product, the market is categorized into spray-dried powder and freeze-dried powder. By application, it is divided into dietary supplement, infant nutrition, and others. Infant nutrition segment is further bifurcated on the basis of distribution channel as online and offline. By function, it is segmented into iron absorption, immune cell stimulation, antibacterial, others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and Latin America, the Middle East, and Africa (LAMEA).
Segment Review
By product type, the market is segmented into spray-dried powder and freeze-dried powder. The freeze-dried powder segment generated maximum revenue in 2021, owing to extended shelf life and maintenance of bifunctional properties. The spray-dried powder segment is expected to witness highest CAGR of 8.3% during the forecast period, owing to lower cost required for its manufacturing.
Depending on application, the bovine lactoferrin market size is divided into dietary supplement, infant nutrition and others. The infant nutrition segment dominated the market in 2021, owing to lactoferrin powder boosts the immune system's ability to combat disease. The dietary supplement segment is expected to witness highest CAGR of 8.2% during the forecast period owing to it contains antibacterial, inflammatory and antiviral properties.
Depending on function, the bovine lactoferrin market size is divided into iron absorption, immune cell stimulation, antibacterial and others. The iron absorption segment dominated the market in 2021, owing to number of benefits to anemic population and pregnant women. The immune cell stimulation segment is expected to witness highest CAGR of 8.55% during the forecast period owing to potential prophylactic and therapeutic applications.
North America accounted for a majority of the global bovine lactoferrin market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to technological advancements in manufacturing bovine lactoferrin products, and presence of key players in the region. However, Asia-Pacific is anticipated to witness notable growth, owing rise in anemic & infant population, development of healthcare infrastructure and increase in investments projects in the region.
The major players profiled in the report Bega Cheese Limited, Beston Global Food Company Ltd, Fonterra Co-operative Group Limited, Glanbia Plc, Inner Mongolia Yili Industrial Group Co., Ltd, Jarrow Formulas, Inc, La Prosperite Fermiere Societe Cooperative Agricole, Morinaga Co., Ltd, Noumi Limited, Nutriscience Innovations, LLC, Oskia Skincare Ltd, Royal Friesland Campina N.V, Savencia SA, Synlait Milk Ltd, Saputo, Inc, Tatua Co-Operative Dairy Company, Ltd, US Clinicals.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bovine lactoferrin market analysis from 2021 to 2031 to identify the prevailing bovine lactoferrin market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the bovine lactoferrin market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global bovine lactoferrin market trends, key players, market segments, application areas, and market growth strategies.
Bovine Lactoferrin Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By Application |
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 By Function |
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 By Region |
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 Key Market Players | Saputo, Inc (Saputo Dairy Australia Pty Ltd.), Morinaga & Co., Ltd (Morinaga Milk Industry), Fonterra Co-Operative Group Limited, Noumi Limited (Freedom Foods Pty Limited), Royal Friesland Campina N.V., Inner Mongolia Yili Industrial Group Co., Ltd (Westland Milk), Synlait Milk Ltd, Tatua Co-Operative Dairy Company Ltd, Jarrow Formulas, Inc, Beston Global Food Company Ltd, US Clinicals, Nutriscience Innovations, Llc, Glanbia Plc, La Prosperite Fermiere Societe Cooperative Agricole (Ingredia Nutrional), Oskia Skincare Ltd, Savencia Sa (Armor Proteines), Bega Cheese Limited |
Analyst Review
This section provides opinions of top level CXOs in the global bovine lactoferrin market. According to the insights of CXOs, manufacture of bovine lactoferrin by leading companies in the market and its extensive number of applications propels the market growth.
The bovine lactoferrin industry holds a high potential, owing to innovative concepts and multidisciplinary expertise demand for new technological advancements in manufacturing of bovine lactoferrin. Recommendations for key market players are anticipated to expand with introduction of new cost-effective and affordable techniques for manufacturing of bovine lactoferrin. The market gains interest of healthcare companies, owing to its unmet demands in developing economies such as India and China where the infant population is growing rapidly along with rise in working women population
Infant nutrition is the leading application of bovine lactoferrin market.
Major upcoming trend that drives growth of the bovine lactoferrin market include an increase in focus on dietary supplements and personal care.
2021 is the base year of bovine lactoferrin market.
2022 to 2031 is the forecast period of bovine lactoferrin market.
The global bovine lactoferrin market was valued at $353.34 million in 2021, and is estimated to reach $750.9 million by 2031, growing at a CAGR of 7.8% from 2022 to 2031.
North America is the largest regional market for bovine lactoferrin market.
Bega Cheese Limited, Tatua Co-Operative Dairy Company, Fonterra Co-operative Group Limited, Morinaga Co., Ltd, Royal Friesland Campina N.V are the top companies to hold the market share in bovine lactoferrin market.
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