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Bovine Lactoferrin Market Size, Trends & Outlook – 2033 | FMI
The Bovine Lactoferrin Market refers to the global industry involved in the production, distribution, and sale of bovine lactoferrin, a protein derived from cow’s milk. Bovine lactoferrin is known for its various health benefits and is widely used in the pharmaceutical, food, and nutritional supplement industries.
Bovine lactoferrin offers several advantages, including its antimicrobial, immune-boosting, and anti-inflammatory properties. It is often used in infant formulas, dietary supplements, functional foods, and personal care products. The market for bovine lactoferrin has been growing steadily due to increasing consumer awareness regarding the health benefits of this protein.
Factors driving the bovine lactoferrin market include the rising demand for natural and functional food ingredients, growing health-consciousness among consumers, and the expanding nutraceutical industry. Additionally, the increasing prevalence of chronic diseases and the growing elderly population have fueled the demand for products that support immune health.
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Between 2023 and 2033, the market for bovine lactoferrin is expected to grow at a CAGR of 15.8%, from US$ 772.39 million to US$ 3,349.05 million. It is anticipated that rising occurrences of skin-related medical problems and rising consumer knowledge of diet and health will boost demand. The pharmaceutical and personal hygiene sectors will be affected by the antiviral, antimicrobial, anti-parasitic, catalytic, and anti-allergic properties and activities of lactoferrin.
Geographically, North America and Europe have traditionally been the leading markets for bovine lactoferrin due to the well-established dairy industry and the presence of major players in these regions. However, emerging economies in Asia Pacific, such as China, India, and Japan, are witnessing significant growth in demand for bovine lactoferrin due to changing lifestyles, increasing disposable income, and rising consumer awareness about health and wellness.
Key Takeaways from Market Study:
In 2021, the Asia Pacific market is estimated to be valued at US$ 335 Million.
With a sales revenue of more than 42.5% in 2020, Asia Pacific emerged as the biggest regional market.
In 2021, the infant formula segment led the lactoferrin market, with a profit share of more than 40%. From 2023 to 2033.
According to a report from Future Market Insights (FMI), from 2018 to 2022, sales witnessed significant growth, registering a CAGR of 10%.
Clinical trials to examine the effects of this component in the healthcare industry have increased by a factor of 25 to 30.
“With the growing number of working women in Asia, the Pacific, and Europe, the proportion of breastfeeding is declining, the need for an acknowledgment of lactoferrin in infant formula manufacturing is cruising market growth, as are the benefits of lactoferrin in infant formula that have been illustrated.” says an analyst at Future Market Insights.
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Key Market Players
Key players in the Bovine Lactoferrin market are MILEI GmbH (Germany), Bega Cheese Ltd. (Australia), Fonterra Co-operative Group (New Zealand), FrieslandCampina DOMO (Netherlands), Beston Global Food Company Ltd (Australia), SAVENCIA SA (France), Saputo Dairy Australia Pty Ltd. (Australia), FREEDOM FOODS GROUP LIMITED (Australia), Synlait Ltd. (New Zealand), Glanbia Plc. (Ireland), Ingredia (France).
Beston Global Food Company Ltd. revealed in June 2021 that its Jervois dairy factory in Australia enlarged its capacity to generate up to 25 metric tonnes of 95.0% pure lactoferrin per year.
Fonterra Co-operative Group declared in June 2021 that it will market its two joint venture firms in China in order to concentrate more on New Zealand milk production and prioritize the Greater China industry.
Fonterra Co-operative Group Limited announced a sales and advertising contract with Land O’Lakes, Inc. in October 2020, with the intention of expanding its market potential into more U.S. food service platforms.
Bovine Lactoferrin Market Segments Survey
Bovine Lactoferrin Market by Type:
Freeze-dried
Spray-dried
Bovine Lactoferrin Market by Application:
Infant Formula
Dietary Supplements
Pharmaceuticals
Food
Other Applications
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global Embolization Coils market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Product (Spray-dried and Freeze-dried), By Application (Infant Formula, Pharmaceuticals, Dietary Supplements, Food, and Others) & Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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