NEWARK, Del, Feb. 07, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights’ new analysis, the global lactoferrin market size is estimated to reach US$ 247.0 million in 2023. Total lactoferrin sales are anticipated to increase at 4.7% CAGR between 2023 and 2033, totaling a revenue of US$ 711.9 million by 2033.
The growing application of lactoferrin in infant formulas, clinical nutrition, and dietary supplements is a prominent factor expected to drive the global lactoferrin industry forward.
Lactoferrin is a multifunctional protein generally found in mammalian milk. It possesses antioxidant, antiviral, antibacterial, and anti-inflammatory properties due to which it has gained enormous popularity worldwide.
Lactoferrin is being increasingly used in infant nutrition, dietary supplements, and several other healthy food items. Hence, growing production and consumption of these products will eventually boost lactoferrin sales during the projection period.
Rising prevalence of diseases such as anemia, diarrhea, blood infection, and numerous other conditions is expected to generate high demand for supplements such as lactoferrin during the next ten years.
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Lactoferrin has become an ideal iron supplement used for low iron levels during pregnancy. It is also used for treating diarrhea, ulcers, hepatitis, and blood infections. Growing awareness about the potential benefits of lactoferrin is expected to generate lucrative revenue-generation opportunities for lactoferrin manufacturers over the assessment period.
Considered a nutraceutical protein and playing a vital role in neurodevelopment and neuropathic mechanisms, lactoferrin is surging in demand among clinical nutrition product manufacturers.
Clinical nutrition application of lactoferrin is gaining traction with FMI estimating this segment to accelerate at 7.3% CAGR between 2023 and 2033.
Lactoferrin is also considered a cationic glycoprotein, being used as a nutritional ingredient in different food & beverage products, such as food supplements, non-alcoholic beverages, and sports nutrition products.
The future of lactoferrin adoption depends on the food & beverage companies, especially brands making baby foods and dietary supplements, who are motivated to comply with the food safety certification requirements and necessary environmental standards.
As a result, more innovation across the value chain is required to increase the adoption rate of the product, driven by a new food revolution generated through consumer tastes and preferences while leveraging automation effectively.
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Key Takeaways from the Lactoferrin Market Study:
- Global sales of lactoferrin are forecast to rise at 4.7% CAGR throughout the assessment period.
- By form, powdered lactoferrin segment accounts for a market share of 88.9%.
- Based on application, infant formulas segment currently holds a prominent share of 35.9% while the clinical nutrition segment is anticipated to witness a lucrative growth rate of 7.3% CAGR between 2023 and 2033.
- Europe remains the leading producer of lactoferrin and it held around 31.1% of the global lactoferrin market in 2022.
- Demand for lactoferrin across South Asia is expected to increase at 7.7% CAGR during the projection period.
“Growing inclination towards high nutritional and healthy food products across the world is expected to create lucrative growth prospects for lactoferrin market during the forecast period. Hence, key lactoferrin manufacturers are introducing lactoferrin-based products with exotic flavors and innovative packaging to attract more consumers,” says a lead analyst at FMI.
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Who is Winning?
Leading companies offering lactoferrin are Fonterra Co-operative Group, Glanbia plc, Milei Gmbh, Nestle SA, Pharming Group NV, Farbest Brands, NutriScience, Bega Cheese Group, Ltd, InVitria, Vitalus Nutrition Inc., and others.
Get Valuable Insights into Lactoferrin Market
Future Market Insights, in its new offering, provides an unbiased analysis of the lactoferrin market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033. The study divulges compelling and detailed insights on the lactoferrin market based on form (powder and liquid), and application (sports nutrition, infant formulas, clinical nutrition, veterinary nutrition, personal care, food nutrition, and others) across seven key regions.
About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations – the Food & Beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Key segments
By Form:
- Powder
- Liquid
By Application:
- Sports Nutrition
- Infant Formulas
- Clinical Nutrition
- Veterinary Nutrition
- Personal Care
- Food Nutrition
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Table of Content
1. Executive Summary | Lactoferrin Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
Explore FMI’s related ongoing Coverage on the Food and Beverage Domain
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Lactose-free Infant Formula Market Analysis: The global lactose-free infant formula market is estimated to exceed US$ 36 Billion by the end of 2032. The sales of lactose-free infant formulas are expected to reach US$ 15 Billion by 2022, projecting growth at a CAGR of around 7% to 8% during the forecast period 2022 to 2032.
Lactose-free Sour Cream Market Forecast: The global lactose-free sour cream market is estimated to exhibit robust growth at a CAGR of around 8% to 9% during the forecast period 2022. On the basis of type, the vegan lactose-free sour cream is expected to surpass a valuation of US$ 180 Million by the end of 2032.
Lactose and Derivative Market Value: The Lactose and Derivatives market is valued at USD 42.1 Billion in 2022 and is projected to grow at a CAGR of 4.1% during the forecast period, to reach a value of USD 62.9 Billion by 2032.
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