Global Lactoferrin Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Lactoferrin Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Lactoferrin is an iron-binding protein, closely related to serum iron transporter and transferrin, and is a multifunctional protein of the transferrin family. Lactoferrin is widely present in various secretions, such as milk, saliva, tears, and nasal secretions. It can also be purified or recombinantly produced from milk. Lactoferrin is one of the components of the human immune system. It has antibacterial activity, antiviral and antifungal activity, and is part of the innate defense. The ability of lactoferrin to bind iron allows lactoferrin to prevent the formation of bacteria. Lactoferrin can improve the immunity of the human body, especially infants, and reduce the occurrence of some diseases.

Market Overview:

The latest research study on the global Lactoferrin market finds that the global Lactoferrin market reached a value of USD 692.6 million in 2022. It’s expected that the market will achieve USD 1225.65 million by 2028, exhibiting a CAGR of 9.98% during the forecast period.

Influence of COVID-19 Outbreak on Lactoferrin Industry Development

As COVID-19 spreads globally, many people try to reduce their risk of infection. In addition to hand sanitizing, most people are looking for ways to boost their immunity in hopes of reducing the risk of infection. The Lactoferrin demand market is driven by increasing awareness of the immune-boosting clinical efficacy of this ingredient. Lactoferrin has good antibacterial properties. It can bind to iron in the body and reduce the reproduction of bacteria, thereby reducing the occurrence of certain diseases. Lactoferrin is also thought to benefit the body's immune system and gut. Under the COVID-19 pandemic, more and more consumers will choose dairy products containing lactoferrin to boost their immunity. Some manufacturers are also taking the opportunity to launch new products, for example, in May 2021, Jatcorp announced plans to launch five new lactoferrin-enriched immune powder formulas in China. The product was launched in response to the growing market interest in foods with immune-boosting properties during the COVID-19 pandemic.

Market Drivers Analysis

Rising skin-related health conditions are expected to drive the growth of the lactoferrin demand market. According to the World Health Organization (WHO), 50% of women and 42% of men report experiencing acne in their 20s, 35% of women and 20% of men report experiencing acne in their 30s, 26% of women and 12% of men reported experiencing acne in their 20s and 40s, and 15% of women and 7% of men reported experiencing acne in their 50s. Lactoferrin is considered to have antiviral, antibacterial, antiparasitic, catalytic, and antiallergic functions and properties, and various clinical trials have demonstrated that lactoferrin is effective in the treatment of acne and other such skin conditions. The growth of the acne treatment market is expected to propel the lactoferrin industry.

Market Constraints and Challenges Analysis

Products containing lactoferrin are expensive. Different products, such as foods, nutritional supplements, infant formula, and similar products, require different levels of protein, ranging from 90.0% to 98.0% pure. The higher the purity requirement, the higher the production cost and therefore the higher the price. As the purity increases, the price is expected to increase by 2 to 4 times. Therefore, price volatility and relatively high prices of the final product are one of the main factors limiting the global adoption rate.

Region Overview:

From 2022-2027, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

Morinaga Milk Industry Co., Ltd. is one of the major players operating in the Lactoferrin market, holding a share of 32.33% in 2022.

Morinaga Milk Industry Co., Ltd. produces and sells milk and related dairy products such as ice cream and yogurt. The Company also develops biochemical and pharmaceutical products. In 2020, Morinaga Milk Industry Co., Ltd. invested more than USM USD17 million in its subsidiary MILEI GmbH to double its lactoferrin production capacity.

FrieslandCampina Nederland B.V. operates as a dairy producer and distributer. The Company offers cream and butter products for infant nutrition, the food industry, and the pharmaceutical sectors.

In 2020, Friesland Food Ingredients Business Group announced that the Veghel plant in the Netherlands will increase its annual production capacity of 60 tons of lactoferrin from 2022 to achieve its strategic growth in the field of early-life nutrition and adult nutrition.

Segmentation Overview:

The Freeze Drying segment by type showed a value growth of 70.23% in 2021.

Application Overview:

By application, the Infant formula segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Lactoferrin market covered in Chapter 3:

Westland Milk
Glanbia Nutritional
FrieslandCampina
Synlait Milk
Saputo Inc.
Bega Cheese
PanTheryx, Inc.
Morinaga Milk Industry Co., Ltd.
Fonterra Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Lactoferrin market from 2018 to 2029 is primarily split into:

Freeze Drying
Spray Drying

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Lactoferrin market from 2018 to 2029 covers:

Infant Formula
Supplements
Pharmaceuticals
Food & Beverages
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)