Pune, India, June 21, 2022 (GLOBE NEWSWIRE) -- The Global Bovine Lactoferrin Market Size is set to gain traction from its rising applications in pharmaceutical, food & beverage, and dietary supplements. Nowadays, the general population is highly demanding for naturally derived supplements, rather than the ones containing chemical molecules. It is set to propel the demand for bovine lactoferrin across the globe. As per a report by Fortune Business Insights™, titled, “Bovine Lactoferrin Market, 2021-2028,” the market size stood at USD 601.1 million in 2020. It is projected to grow from USD 635.3 million in 2021 to USD 1,461.3 million in 2028 at a CAGR of 12.6% in 2021-2028.
Key Industry Development
June 2021: Beston Global Food added two lactoferrin extraction columns in its Jervois plant, South Australia. It would enable the company to manufacture approximately 5% of the world’s demand for lactoferrin at present.
January 2021: Bega Cheese Limited acquired Lion Dairy & Drinks, a Kirin-owned food company. The deal is worth USD 334 million and it would allow the company to broaden its portfolio range with yogurt, juice, and milk brands.
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Report Scope:
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 12.6% |
| 2028 Value Projection | USD 1,461.3 million |
| Base Year | 2020 |
| Market Size in 2021 | USD 635.3 million |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 192 |
Market Growth Drivers
Surging Development of Affordable Production Technology to Boost Growth
Various technology oriented companies are currently striving persistently to launch cost-effective methods to produce bovine lactoferrin. Conagen, Inc., for instance, created an affordable process to manufacture this ingredient in April 2020 by utilizing microbial fermentation technology. However, several private and governmental agencies are encouraging people to practice breastfeeding, which, in turn, is set to lower the demand for infant formula, thereby restraining the bovine lactoferrin market growth in the near future.
Report Coverage
Our analysts have conducted qualitative and quantitative research, as well as a mixture of primary and secondary resources to gather information about the market. They have taken data from press releases, paid databases, company journals, and other sources to offer a complete picture of the market. To collect information about the competitive landscape they have conducted interviews with renowned personalities.
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Market Segmentations:
Dietary Supplements & Food Segment to Register High CAGR Backed by Awareness of Health
By applications, the Bovine Lactoferrin Market is segregated into infant formula, pharmaceuticals, dietary supplements, food, and others. Out of these, the dietary supplements and food segments are anticipated to showcase significant CAGR in the near future because of the higher awareness about immunity and health among common people.
| Segmentation | By Product
|
By Application
| |
By Geography
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Regional Insights
North America Held USD 95.6 Million Revenue in 2020
Geographically, North America held USD 95.6 million in terms of revenue in 2020. This growth is attributable to the rising number of clinical trials conducted by numerous U.S.-based pharmaceutical companies to find novel applications of bovine lactoferrin, especially in the healthcare sector. On the other hand, Europe is likely to show a significant share backed by the surging demand for bovine lactoferrin-infused dietary supplements and infant formula.
Competitive Landscape
Key Players Focus on Expansion and Acquisition Strategies to Strengthen Their Positions
The global market houses several reputed companies and is semi-consolidated. Most of them are focusing on acquisition and production capacity expansions to strengthen their positions in this market. A few others are aiming to introduce new products infused with the unique ingredient for a large number of applications.
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The Report Lists the Key Companies in the Global Bovine Lactoferrin Market
- MILEI GmbH (Allgäu, Germany)
- FrieslandCampina DOMO (Amersfoort, Netherlands)
- Synlait Ltd. (Canterbury, New Zealand)
- Glanbia Plc. (Kilkenny, Ireland)
- Bega Bionutrients (Melbourne, Australia)
- Saputo Dairy Australia Pty Ltd. (Victoria, Australia)
- Fonterra Co-operative Group (Auckland City, New Zealand)
- FREEDOM FOODS GROUP LIMITED (Caringbah, Australia)
- Beston Global Food Company Ltd (Adelaide, Australia)
- Armor Protéines (Saint-Brice-en-Coglès, France)
- Ingredia (Arras, France)
Table of Contents
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Technological Advancements
- Regulatory Scenario – For Key Countries
- Pricing Analysis
- Impact of COVID-19 on the Global Bovine Lactoferrin Market
- Overview of Lactoferrin Description, Claim, Content on Packages
- Global Bovine Lactoferrin Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Freeze Dried and Milled
- Spray Dried Powder
- Market Analysis, Insights and Forecast – By Application
- Infant Formula
- Dietary Supplements
- Pharmaceutical
- Food
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Bovine Lactoferrin Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Freeze Dried and Milled
- Spray Dried Powder
- Market Analysis, Insights and Forecast – By Application
- Infant Formula
- Dietary Supplements
- Pharmaceutical
- Food
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Europe Bovine Lactoferrin Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Freeze Dried and Milled
- Spray Dried Powder
- Market Analysis, Insights and Forecast – By Application
- Infant Formula
- Dietary Supplements
- Pharmaceutical
- Food
- Others
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- UK
- Germany
- France
- Italy
- Spain
- Scandinavia
- Rest of Europe
- Asia Pacific Bovine Lactoferrin Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Freeze Dried and Milled
- Spray Dried Powder
- Market Analysis, Insights and Forecast – By Application
- Infant Formula
- Dietary Supplements
- Pharmaceutical
- Food
- Others
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- Japan
- China
- India
- Australia
- Southeast Asia
- Rest of APAC
ToC Continued…
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