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.Bovine lactoferrin is an iron binding glycoprotein derived from bovine milk. Lactoferrin is found in human milk and in bovine colostrum. It is the main source of amino acids, is frequently used to treat low iron levels in pregnant women, and to protect premature infants from blood infections (sepsis). It is also used for diarrhea, common cold, and many similar conditions.
Major factor that drives growth of the bovine lactoferrin market include increase in focus toward Dietary supplementss. Lactoferricin, incorporated in food supplements, could provide health benefits and reduce the risk of chronic diseases. Due to its anti-oxidant properties it is used in cosmetic and personal care products. In addition, rise in use of lactoferrin in pharmaceutical and personal care products is a key trend of the market which is expected to fuel the growth in the forecast period.
Iron absorption property of bovine lactoferrin reduces the risk of anemia, therefore, is widely used to treat the disorder. Surge in number of working women has led to increase in utilization of infant milk formulas, which is anticipated to propel the bovine lactoferrin market growth. The best substitute for breast milk that is safe for baby intake is infant formula, which as nearly as possible resembles nutritional profile of breast milk.
Many key market players are adopting various strategies such as product launch with advanced technologies. For an instance in November 2021, US Clinicals(R) launched StrongImmune Lactoferrin, first respiratory virus defending health supplement in Singapore. It provides dual action immunity support against Acute Respiratory Infection (ARI) to ensure health and safety during the current global outbreak of the corona virus.
However, rise in awareness and promotion of breast feeding by various government and non-government organizations is expected to hinder growth of the market. Conversely, introduction of new cost-effective and affordable manufacturing techniques and launch of bovine lactoferrin products to suffice consumer demands in developing countries are expected to provide great opportunities for investors to invest in the market.
The global bovine lactoferrin market is segmented on the basis of product type, application, function, and region. On the basis of product type, the market is categorized into spray-dried powder and freeze-dried powder. By application, it is divided into dietary supplements, infant nutrition, and others. The infant nutrition segment is further bifurcated, on the basis of distribution channel, into online and offline. By function, it is segmented into iron absorption, immune cell stimulation, antibacterial, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major players profiled in the report include 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, and US Clinicals.
Major factor that drives growth of the bovine lactoferrin market include increase in focus toward Dietary supplementss. Lactoferricin, incorporated in food supplements, could provide health benefits and reduce the risk of chronic diseases. Due to its anti-oxidant properties it is used in cosmetic and personal care products. In addition, rise in use of lactoferrin in pharmaceutical and personal care products is a key trend of the market which is expected to fuel the growth in the forecast period.
Iron absorption property of bovine lactoferrin reduces the risk of anemia, therefore, is widely used to treat the disorder. Surge in number of working women has led to increase in utilization of infant milk formulas, which is anticipated to propel the bovine lactoferrin market growth. The best substitute for breast milk that is safe for baby intake is infant formula, which as nearly as possible resembles nutritional profile of breast milk.
Many key market players are adopting various strategies such as product launch with advanced technologies. For an instance in November 2021, US Clinicals(R) launched StrongImmune Lactoferrin, first respiratory virus defending health supplement in Singapore. It provides dual action immunity support against Acute Respiratory Infection (ARI) to ensure health and safety during the current global outbreak of the corona virus.
However, rise in awareness and promotion of breast feeding by various government and non-government organizations is expected to hinder growth of the market. Conversely, introduction of new cost-effective and affordable manufacturing techniques and launch of bovine lactoferrin products to suffice consumer demands in developing countries are expected to provide great opportunities for investors to invest in the market.
The global bovine lactoferrin market is segmented on the basis of product type, application, function, and region. On the basis of product type, the market is categorized into spray-dried powder and freeze-dried powder. By application, it is divided into dietary supplements, infant nutrition, and others. The infant nutrition segment is further bifurcated, on the basis of distribution channel, into online and offline. By function, it is segmented into iron absorption, immune cell stimulation, antibacterial, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major players profiled in the report include 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, and 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.
Key Market Segments
By Product Type
- Spray dried powder
- Freeze dried powder
By Application
- Dietary supplement
- Infant nutrition
- Distribution Channel
- Online
- Offline
- Others
By Function
- Iron absorption
- Immune cell stimulation
- Antibacterial
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Arabia
- Rest of LAMEA
Key Market Players
- Bega Cheese Limited
- Beston Global Food Company Ltd
- Fonterra Co-Operative Group Limited
- Glanbia Plc
- Inner Mongolia Yili Industrial Group Co., Ltd (Westland Milk)
- Jarrow Formulas, Inc
- La Prosperite Fermiere Societe Cooperative Agricole (Ingredia Nutrional)
- Morinaga & Co., Ltd (Morinaga Milk Industry)
- Noumi Limited (Freedom Foods Pty Limited)
- Nutriscience Innovations, Llc
- Oskia Skincare Ltd
- Royal Friesland Campina N.V.
- Savencia Sa (Armor Proteines)
- Synlait Milk Ltd
- Saputo, Inc (Saputo Dairy Australia Pty Ltd.)
- Tatua Co-Operative Dairy Company Ltd
- US Clinicals
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BOVINE LACTOFERRIN MARKET, BY PRODUCT TYPE
CHAPTER 5: BOVINE LACTOFERRIN MARKET, BY APPLICATION
CHAPTER 6: BOVINE LACTOFERRIN MARKET, BY FUNCTION
CHAPTER 7: BOVINE LACTOFERRIN MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, 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.
Companies Mentioned
- Bega Cheese Limited
- Beston Global Food Company Ltd
- Fonterra Co-Operative Group Limited
- Glanbia plc
- Inner Mongolia Yili Industrial Group Co. Ltd (Westland Milk)
- Jarrow Formulas, Inc
- La Prosperite Fermiere Societe Cooperative Agricole (Ingredia Nutrional)
- Morinaga & Co. Ltd (Morinaga Milk Industry)
- Noumi Limited (Freedom Foods Pty Limited)
- Nutriscience Innovations, LLC
- Oskia Skincare Ltd
- Royal Friesland Campina N.V.
- Savencia Sa (Armor Proteines)
- Synlait Milk Ltd
- Saputo, Inc (Saputo Dairy Australia Pty Ltd.)
- Tatua Co-Operative Dairy Company Ltd
- Us Clinicals
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 320 |
| Published | August 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 353.34 million |
| Forecasted Market Value ( USD | $ 750.9 million |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
