Bovine Lactoferrin Market By Product Type (Spray dried powder, Freeze dried powder), By Application (Dietary supplement, Infant nutrition, Others), By Function (Iron absorption, Immune cell stimulation, Antibacterial, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
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.
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
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