Market Research Report
Global Lactoferrin Market By Function, By Application, By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
|Global Lactoferrin Market By Function, By Application, By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027|
Published: August 31, 2021
Content info: 201 Pages
Delivery time: 1-2 business days
The Global Lactoferrin Market size is expected to reach $408 Million by 2027, rising at a market growth of 8.5% CAGR during the forecast period. Lactoferrin provides stimulating effects on the immune system and also prevents cell damage caused by aging. Moreover, it supports the culture of useful bacteria in the intestinal tract and controls viruses, bacteria, and fungi combined with being a regulator to iron metabolism. Lactoferrin is proven to be efficient in treating hepatitis C infection by suppressing the multiplication of the virus at the intracellular level. Therefore, lactoferrin finds potential applications in personal care, nutraceutical, and pharmaceutical industries, thereby boosting the growth of the lactoferrin market during the forecast period.
The demand for the product would be propelled by the surge in awareness among the consumers about the health & diet, combined with the growing occurrence of skin-related health conditions. Lactoferrin is proven to show antiviral, antiparasitic, antibacterial, anti-allergic, and catalytic functions and properties. As per the American Academy of Dermatology, acne is the most common skin condition in the U.S., affecting above 40 to 50 million individuals in the country each year. The acne treatment market would also witness massive growth throughout the forecast period.
The outbreak of the COVID-19 pandemic has boosted the demand for supplements. There is a higher demand among the consumers to boost immune health, support their bodies, and decrease anxiety. The retail store remained close due to the stringent lockdown conditions; hence online channels are utilized to fulfill the changing needs of the customers. Due to the constantly increasing demand, the makers are confronting different sorts of issues in terms of the supply of raw materials.
Companies are adopting preventive steps to fulfill the needs of the consumers and also facilitate the safety of the workers. All the organizations are complying with the norms and regulations formulated by the governmental bodies to open the stores. They are offering gloves, sanitizers, and masks to the store workers for ensuring their safety. The organizations are cutting down the opening hours of the stores and motivating customers to comply with the social distancing norms and utilize contactless payments.
Market Growth Factors:
Surge in the number of working women and increasing concerns about the infant nutrition
Lactoferrin is highly utilized in infant formula products due to its capability to bolster the immune system of the infant by improving anti-inflammatory and anti-infective activities and better iron absorption in the gut of the infant. An upsurge in consumer awareness about the significance of infant health and nutrition along with the rising number of working women would create new growth avenues for lactoferrin in the global market.
Several advantages of lactoferrin
Lactoferrin assists in controlling how well iron gets mixed into the body from the intestine. It also fights against infections from viruses, bacteria, and fungi. Lactoferrin is proven to restrict the development of bacteria by not providing nutrients to them. It also eliminates the walls around the bacteria. The lactoferrin available in the milk of the mother is considered to assist breast-fed infants against infections. Lactoferrin is also helpful in the generation of blood cells and the body's ability to fight against infections.
Market Restraining Factors:
Low Availability of lactoferrin-based products
The under-developed and developing countries have low availability of lactoferrin-based products, which would hinder the demand & growth of the lactoferrin market during the forecast period. Moreover, these countries have a low presence of key market players that further hamper the global lactoferrin market over the forecasting period.
Based on Function, the market is segmented into Iron absorption, Intestinal flora protection, Immune cell stimulation, Antioxidant, Antibacterial and Anti-inflammatory. The antibacterial functionality segment garnered the prominent revenue share of the market in 2020. The growth of the segment would be accelerated by the capability of the product to restrict bacterial development and biofilm formation, leads to a boost in its utilization as an antimicrobial therapeutic agent. Pharmaceutical organizations have witnessed to include lactoferrin as an active ingredient in various anti-bacterial and antimicrobial products.
Based on Application, the market is segmented into Pharmaceuticals, Food & Beverages, Personal Care Products, Infant Formula, Sports & Functional Foods and Animal Feed. The infant formula segment acquired the largest revenue share of the lactoferrin market in 2020. In addition, the segment would showcase a prominent growth rate during the forecast period. Factor such as the constant upsurge in the number of clinical studies encouraging infant formula integration with lactoferrin and changing consumer trends towards infant supplementary foods is responsible for the growth of this segment.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, the Asia-Pacific garnered the maximum revenue share of the lactoferrin market. Moreover, the regional market would exhibit a similar kind of trend even during the forecast period. India, Japan, and China are the major countries of the region, and the constantly increasing population and increase in purchasing power of the consumers are the catalysts for the growth of the regional market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Royal FrieslandCampina N.V., Glanbia PLC, Fonterra Co-operative Group Limited, Moringa Milk Industry Co., Ltd., Ventria Bioscience, Inc. (InVitria), Farbest Brands, Bega Cheese Ltd (Tatura Milk Industries Ltd.), MP Biomedicals LLC (Valiant Co., Ltd.), Synlait Milk Limited, and Pharming Group NV.
Strategies Deployed in Lactoferrin Market
Feb-2021: FrieslandCampina came into partnership with Cayuga Milk Ingredients, a manufacturer of dairy ingredients for the global food and nutrition industries. Under this partnership, Cayuga Milk ingredients would produce FrieslandCampina Ingredients' Refit milk proteins MPI 90 and MPC 85 in the US. In addition, the companies would also provide US customers a local source of milk protein active nutrition spaces and targeting the performance.
Jan-2021: FrieslandCampina Ingredients unveiled a line of ingredients called Biotis Immune Health Solutions, based on Biotis lactoferrin: Immunity Up! Chewable gummies and its Immune-Plus powder drink, made for immune support. This line of product is focused on introducing extensive application expertise, renowned scientific understanding and global market insights to grab new opportunities for consumers in the health and wellness segment
Dec-2020: MILEI, a subsidiary of Morinaga Milk Industry collaborated with GEA, largest suppliers for food processing technology and of related industries. Under this collaboration, MILEI selected GEA spray dryer solutions for their recently expanded production plant in Germany. In addition, GEA Test Center in Denmark would operate with MILEI to organize the major drying steps and delivered samples for activity studies that helped in controlling the optimum spray drying conditions for making a lactoferrin powder with the required features.
Oct-2020: Morinaga Milk Industry Co., Ltd. announced its subsidiary MILEI GmbH, a lactoferrin producer enhanced its production capability twice. Since, the lactoferrin consists of infant formula, other foods and supplements there has been a growth in demand across Asia and Western countries.
Nov-2019: Synlait Milk Limited extended its partnership by two years with The A2 Milk Company, a dairy nutritional company. Together, the companies aimed to invest in their building capacity and capability to support their growth in the market. The core focus of both companies was the growth of capacity and capability of Infant nutrition.
Oct-2019: FrieslandCampina partnered with the American dairy cooperative United Dairymen of Arizona (UDA). This partnership aimed to introduce lactoferrin to the market and to manufacture 10 tons of lactoferrin per year.
Feb-2019: Bega Cheese expanded its geographical footprints by establishing a new lactoferrin plant at its Koroit facility in Western Victoria. Lactoferrin is used as a high-value and functional ingredient across the globe in a variety of consumer health & nutritional food product like infant formula.
May-2018: Bega Bionutrients launched microencapsulated lactoferrin. This launch enhanced the companies' lactoferrin line by supporting the delivery of benefits of the lactoferrin by protecting it from degradation in conditions found in the stomach.
Apr-2018: Synlait Milk Supply Agreement leading to investment of $18 million to enhance the lactoferrin manufacturing capacity at Synlait Dunsandel.
Market Segments covered in the Report:
Unique Offerings from KBV Research
List of Figures