Bovine Lactoferrin Market Size to Hit US$ 2,883.5 Million by 2031 | Growth Plus Reports

Newark, New Castle, USA, May 30, 2023 (GLOBE NEWSWIRE) -- The market analysis of the global bovine lactoferrin market was conducted by Growth Plus Reports in 2022 and was valued at US$ 776.1 million. The market is expected to hit a revenue CAGR of 15.7% to reach US$ 2,883.5 million by 2031.

Bovine lactoferrin is a naturally occurring protein found in cow's milk. It possesses various bioactive properties, including antimicrobial, anti-inflammatory, and immune-enhancing effects. These properties have led to a surge in research and interest in bovine lactoferrin as a potential supplement for improving overall health and well-being.

Due to growing public knowledge of its potential health advantages, the bovine lactoferrin market has seen rapid expansion internationally in recent years. The protein's versatility has led to its incorporation in various applications, including infant formulas, dietary supplements, functional foods, and personal care products.

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                                         Bovine Lactoferrin Market Scope

Recent Development in the Bovine Lactoferrin Market: 

• In March 2023, to meet the growing demand for lactoferrin, FrieslandCampina DOMO opened a new lactoferrin production plant in Veghel, Netherlands.

Competitive Landscape

Following are the key market players operating in the global market for bovine lactoferrin includes: 

• 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. 

To improve market revenue, these businesses concentrate on strategic efforts, including mergers and acquisitions, partnerships, product launches, and R&D operations. Competitive factors include product quality, pricing strategies, distribution networks, and brand reputation.

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Market Segmentation: 

• The product, application, and geographic perspectives are used to assess the worldwide market overview for bovine lactoferrin. 
• The market for bovine lactoferrin is segmented into spray-dried and freeze-dried goods based on the products. 
• In 2022, the market for bovine lactoferrin had the biggest revenue share from freeze-dried goods.
• The market for bovine lactoferrin is segmented into spray-dried and freeze-dried goods based on the products. 
• In 2022, the market for bovine lactoferrin accounts for the largest revenue share from freeze-dried goods. 
• In terms of revenue, North America led the world market for bovine lactoferrin in 2022. Consumer awareness of the potential health advantages of functional foods is developing, and there is a significant market for supplements containing bovine lactoferrin in North America.

Market Restraints:

Regulatory Challenges: Stringent regulations and varying approval processes across different regions pose challenges for market players. Compliance with regulatory standards and obtaining necessary certifications can be time-consuming and resource-intensive, limiting market entry. 

High Production Costs: The production of bovine lactoferrin involves complex extraction and purification processes, leading to higher manufacturing costs. This can affect product affordability and hinder market growth, particularly in price-sensitive regions.

Report Coverage 

Growth Plus Reports conducted thorough international market research on the bovine lactoferrin market. We examined the fundamental characteristics of the market, notable investment opportunities, regional development patterns, ten-year revenue estimates, competing market actors, and mergers and acquisitions. 

Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
   4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2022) 
   3. Regulatory Landscape
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3. Opportunities
5. GLOBAL BOVINE LACTOFERRIN MARKET - ANALYSIS & FORECAST, BY PRODUCT
   1. Spray-dried
   2. Freeze-dried
6. GLOBAL BOVINE LACTOFERRIN MARKET - ANALYSIS & FORECAST, BY APPLICATION
   1. Infant Formula
   2. Pharmaceuticals 
   3. Dietary Supplements 
   4. Food
   5. Others

BOVINE LACTOFERRIN MARKET TOC

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