Bovine Lactoferrin Market Expected to Reach $750.9 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Bovine Lactoferrin Market," The 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.

Protein lactoferrin is found in bodily fluids such as human milk, animal milk, and others. Colostrum, which is the first milk produced after birth, has higher lactoferrin levels. Lactoferrin helps to regulate iron absorption in the body and protects against bacterial, viral, and fungal infections. Various key market players are collaborating to launch new products. For instance in March 2022, the University of Michigan and Glanbia Plc. Research & Development collaborated to investigate antiviral properties of cow milk protein against variants of SARS-CoV-2. In addition, in October 2019, the American Dairy Cooperative United Dairymen of Arizona (UDA) partnered with Friesland Campina, one of the leaders of bovine lactoferrin, to boost lactoferrin production. This partnership has a capacity to produce 10 tons of lactoferrin per year and both companies expect this as an opportunity for further collaborations.

In addition, a prominent bovine lactoferrin market trends is anticipated to propel growth in next years is rise in its use for Dietary supplements and its antibacterial and antiviral properties. Moreover, rise in demand for infant formula is expected to propel expansion of the industry. Pharmaceutical companies are leveraging antibacterial, anti-inflammatory, and antiviral properties of bovine lactoferrin for disease treatment research. Infant formula, which most closely mirrors nutritional composition of breast milk, is the greatest alternative to breast milk that is safe for babies to consume.

However, it is anticipated that increase in awareness for breastfeeding from both government and non-government organizations would impede the lactoferrin industry. In contrast, launch of bovine lactoferrin products to meet consumer demand in developing nations and development of new inexpensive and cost-effective manufacturing procedures are anticipated to offer considerable investment opportunities for bovine lactoferrin market growth.

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 it being more economical than other aseptic procedures. The spray-dried powder segment is expected to witness highest CAGR of 8.3% during the forecast period, owing to the fact that original shape and size of molecules is maintained in spray-dried powder.

Depending on application, the bovine lactoferrin market size is divided into Dietary supplements, infant nutrition, and others. The infant nutrition segment dominated the market in 2021, owing to surge in utilization of lactoferrin powder for infants.  The Dietary supplements segment is expected to witness highest CAGR of 8.2% during the forecast period, owing to its antibacterial, inflammatory, and antiviral properties.

Depending on function, the market is divided into iron absorption, immune cell stimulation, antibacterial, and others. The iron absorption segment dominated the market in 2021, owing to increase in number of anemic populations.  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 bovine lactoferrin market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to technological advancements in bovine lactoferrin products and rise in number of working women, which leads to increase in demand for infant formula with bovine lactoferrin. However, Asia-Pacific is anticipated to witness notable growth, owing to rise in anemic population, launch of bovine lactoferrin products, and increase in investment projects in the region.

 Key Findings of the Study
• By type, the freeze-dried powder segment was the highest contributor to the market in 2021.
• By application, the infant nutrition segment was the highest contributor to the market in 2021.
• Depending on application, the iron absorption segment was the highest contributor in 2021.
• Region wise, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.