Global Lactoferrin Market - 2023-2030

Global Lactoferrin Market - 2023-2030

Global Lactoferrin Market reached US$ 362.3 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 641.3 million by 2030. The market is growing at a CAGR of 7.4% during the forecast period 2023-2030.

Consumer interest in dietary supplements and functional foods with specific health benefits is rising. Because of its immune-boosting, gut-health-promoting, and antioxidant properties, lactoferrin is used in functional food and supplement products. Customers are anticipated to use lactoferrin-enriched goods more frequently as they look for natural and practical ways to enhance their overall health and well-being.

For instance, On March 17, 2023, FrieslandCampina Ingredients built a new lactoferrin production plant in Veghel, Netherlands, to assist fulfill rising worldwide demand in the infant and adult nutrition industries. The facility boosts the company's total capacity from 20 to 80 metric tonnes per year.

Market Dynamics
The Rising Infant Population is Driving the Market Growth of Lactoferrin
The global birth rate has been increasing in many countries, resulting to an increase in the newborn population. Birth rates are rising as a result of population expansion, increased healthcare facilities, and altering socioeconomic dynamics. Every day, 385,000 newborns are born, according to the United Nations. Every year, this amounts to more than 140 million dollars. As more babies are born, there is an increased need for baby feeding products, particularly those containing lactoferrin.

While breastfeeding is thought to be the healthiest source of nutrition for babies, there is a significant shift away from breastfeeding and towards formula feeding, particularly in cities. This tendency may be attributed to a number of factors such as an increase in the number of working mothers, lifestyle changes, and cultural influences. As a result, as more babies rely on formula feeding, the need for baby formula options, particularly lactoferrin-enriched formula, grows.

Increased Awareness of Lactoferrin's Health Benefits is Driving Lactoferrin Market Growth
Lactoferrin is recognized for its potential in enhancing immune function. It has been found to have a positive impact on the immune system by supporting the production and activity of immune cells like lymphocytes and natural killer cells. Additionally, lactoferrin's ability to bind to iron inhibits the growth of bacteria and viruses, displaying antimicrobial properties. With growing concerns over immune health, lactoferrin is being recognized as a valuable ingredient for immune-supporting supplements and functional foods.

Lactoferrin plays a role in maintaining a healthy gut. It helps regulate the gut microbiota by promoting the growth of beneficial bacteria like bifidobacteria and lactobacilli while inhibiting the growth of harmful bacteria. Lactoferrin exhibits antioxidant activity, which helps combat oxidative stress and reduce the risk of chronic diseases associated with inflammation. As people become more conscious of the role of inflammation in various health conditions, lactoferrin's anti-inflammatory benefits contribute to its market growth.

Regulatory and Intellectual Property Issues can Hamper the Growth of the Lactoferrin Market
Regulatory authorities set stringent safety and quality standards for food and pharmaceutical products containing lactoferrin. Compliance with these standards often requires rigorous testing, traceability, and quality control measures. Meeting these standards can be costly and time-consuming, especially for small-scale producers who may lack the necessary resources and expertise.

Patents and intellectual property rights play a crucial role in the lactoferrin market. The protection of intellectual property is essential for manufacturers investing in the research and development of lactoferrin-based products. However, navigating the complexities of intellectual property rights can be challenging, and patent disputes can impede innovation and market growth.

COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis
The global lactoferrin market is segmented based on source, application, end-use, and region.

Abundance of 2'-Fucosyllactose (2'FL) in Human Milk
In 2022, based on the source, bovine lactoferrin held the highest share of the lactoferrin market. Bovine milk is a readily available source of lactoferrin. The dairy industry produces a significant amount of bovine milk, allowing for a consistent and ample supply of bovine lactoferrin. In August 2022, TurtleTree, a biotech company, declared its production of LF+, the world's first sustainable bovine lactoferrin created using precision fermentation technology.

Bovine lactoferrin shares structural and functional similarities with human lactoferrin, making it a suitable substitute in various applications. It exhibits similar immune-enhancing and antimicrobial properties, which are desirable characteristics in products that incorporate lactoferrin. These features encourage producers to supply fresh bovine lactoferrin products, which has boosted market share.

Geographical Analysis
Growing Health Consciousness in North America Regions
In 2022, the North American region had a significant share of the lactoferrin market. The region's healthcare infrastructure possesses advanced medical facilities, research institutes, and pharmaceutical companies, establishing favorable conditions for the progress, manufacturing, and dissemination of products incorporating lactoferrin.

The North American market has witnessed a growing interest in functional foods, dietary supplements, and nutraceuticals. For instance, according to the Centers for Disease Control and Prevention, in 2021, data from the National Health and Nutrition Examination Survey, showed that 57.6%of the US adults of age 20 and over, used dietary supplements. Consumers in this region are increasingly seeking products that offer health benefits beyond basic nutrition. Lactoferrin, with its potential immune-enhancing and gut health properties, aligns well with this trend, driving its demand in the market.

Competitive Landscape
The major global players include MILEI GmbH, Farbest Brands, Synlait Ltd., Glanbia Plc., Bega Bionutrients, Saputa Dairy Australia Pty Ltd., Forterra Co-Operative Group, Armor Proteins, Hilmar Cheese Company, Inc., Conagen, Inc.

Why Purchase the Report?
• To visualize the global lactoferrin market segmentation based on source, application, end-use, and region understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of Lactoferrin market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The Global Lactoferrin Market Report Would Provide Approximately 61 Tables, 64 Figures, and 102 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies