ROCKVILLE, Md., Feb. 28, 2022 (GLOBE NEWSWIRE) -- Lactoferrin market revenue was estimated at USD 234.5 Mn in 2021 and is expected to grow at a steady CAGR of 8% from 2022 to 2032. The market is predicted to reach a global valuation of US$ 546.77 Mn by the end of 2032.
Lactoferrin may have anti-inflammatory effects relevant to the pathophysiology of cases involving COVID-19. The lack of a cure or vaccine in 2020 led to an increase in the demand for immunity boosters. With the increasing popularity of preventive measures for the COVID-19 infection, lactoferrin-based products are expected to see an additional boost in demand in 2020. Lactoferrin-based infant formulas experienced immense demand following the outbreak of COVID-19, especially in Asia Pacific.
With consumers becoming increasingly aware of health and diet issues, combined with skin-related illnesses on the rise, demand for skincare products is expected to grow and along with that steady growth in the Lactoferrin Market will be seen too.
Over the forecast period, the lactoferrin market is expected to grow as a result of increased consumer awareness about gut health. This is in addition to the demand for products that reduce intestinal inflammation. Demand for the products is expected to be boosted by brand awareness bolstered by marketing efforts taken by brand owners, as well as the preference for organic products with minimal side effects and higher efficiency.
For Critical Insights on This Market, Request a Sample Report https://www.factmr.com/report/lactoferrin-market
Key Takeaways from the Market Study
- The global lactoferrin market is expected to reach a market size worth US$ 253.36 Mn at the end of 2022.
- With a revenue share of over 41.5%, Asia Pacific will remain the largest regional market throughout the forecast period.
- Iron absorption market accounted for over 28.5% of the overall revenue.
- Infant formula segment accounts for more than 38.5% of the market’s revenue
- North America to accumulate a market share of 38% in 2022.
Increased awareness about maintaining gut health is prompting consumers to opt for lactoferrin products, providing manufacturers with the opportunity to introduce new products into the market, says a Fact.MR analyst.
Key Segments Covered in the Lactoferrin Industry Survey
By Function:
- Antioxidant
- Immune Cell Stimulation
- Antibacterial
- Intestinal Flora Protection
- Anti-inflammatory
- Iron Absorption
By Application:
- Animal Feed
- Personal Care Products
- Pharmaceuticals
- Sports & Functional Foods
- Infant Formula
- Food & Beverages
North America will be the second lucrative region in this market
By 2020, North American lactoferrin sales were second only to Asia. As a result, the United States emerged as the region’s largest market. Consumption of digestive products has increased in recent years due to an increased incidence of digestive distresses.
The increase in the number of specialty stores, hypermarkets, and supermarkets, as well as incentivized marketing programs adopted by brands to boost their sales, are also expected to bolster the market growth. A major factor driving the market in the region is the fact that key market players are taking advantage of various marketing strategies and initiatives, including branding, to expand their business reach. Fact.MR expects the North American market to accumulate a market value of 38% in 2022.
To learn more about Lactoferrin Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=7089
Competitive Landscape
Small and medium-sized businesses dominate the lactoferrin market, which is highly fragmented. The main cause is the logistical indifference caused by producers of dairy products in different countries. The perishable nature of dairy products creates a disparity between producers and small and medium businesses that are able to take advantage by sourcing local dairy products in good time to meet their production needs.
A number of factors are likely to impact the distribution of final products, including the intensity of competition, the size and development of the local market, and labor availability. Hypermarkets, online shopping platforms, supermarkets, convenience stores and specialty shops are the most common forms of retailing for most companies. The objective of the new players as well as the existing ones is to achieve a higher market share during the forecast period by focusing on their capacity expansion. by the end of 2032, this will lead to a highly fragmented market.
- In 2021, Beston Global Food Company Ltd expanded its capacity for 95% pure lactoferrin to 25 metric tons per year to meet the rising demand.
- In September 2020, Frieslandcampina DOMO declared its initiative to increase the production of lactoferrin in Veghel from 9 tons to around 60 tonnes by 2022 to meet the growing demand in the market, especially for infant formula.
- An Australian company, Jatenergy Ltd., had announced a surge in sales of dairy-based infant nutrition products, which contain lactoferrin. In March 2020, the company reported a USD 5.4 million monthly sale.
Key Players in the Lactoferrin Market:
- Pharming Group NV
- Ferrin-tech LLC
- Milei GmbH
- InVitria
- Farbest Brands
- Fonterra Cooperative Group Ltd.
- ProHealth
- APS BioGroup
- Glanbia plc
- Friesland Camina
- Hilmar Cheese Company
- Synlait Milk Ltd.
The increased demand for clinical trials will increase the revenue in this market
More than 38.5% of the market’s revenue in 2021 came from the infant formula segment. During the period of 2022-2032, the segment is expected to expand at a steady CAGR.
Due to the growth in the number of clinical studies supporting the integration of lactoferrin into infant formula as well as changing consumer preferences towards supplementary foods, it is anticipated that demand will increase. Developed countries account for most of the demand for infant nutrition due to their significant disposable incomes, busy work schedules, and the increasing incidences of iron deficiency in infants.
Stuck in a neck-to-neck competition with other brands? Purchase a copy of report on Lactoferrin Market at https://www.factmr.com/checkout/7089
Explore Fact.MR’s Coverage on the Food & Beverage Domain
Frozen Shrimp Industry Report Scope: Consumers are shifting towards pre-cooked frozen foods to balance busy working schedules and health requirements, leading to augmented adoption of cooked frozen shrimp due to its easy consumption and nutritious properties, including iodine, protein, vitamin B12, calcium, etc., as such, leading to rising demand for frozen shrimp fish food globally.
Why are Fungal Lactase Enzymes Highly Popular? - There is growing recognition that plant-based lactase enzymes are just as beneficial to digestive health as animal-based lactase enzymes. Lactase is active at low pH (3.5-5.5), making it particularly effective at digesting lactose in the stomach, and thus, the perfect dietary supplement for use as a digestive aid.
e-Commerce Sector Driving Sales of Sales Processed Meat: e-Commerce is gaining traction around the world, with more consumers ordering groceries and other food products through smartphone apps. Multiple e-Commerce portals across the world are vying for market share by launching their own food brands. e-Commerce sales of meat patty are expected to pick up pace in the near future due to robust growth in processed beef consumption, which will be augmented by steady demand for processed meat.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Tel: +1 (628) 251-1583
