The global bovine lactoferrin market accounted for US$ XXX.X billion in 2019 and is estimated to be US$ XXX.X billion by 2029 and is anticipated to register a CAGR of XX.X%.
The report “Global Bovine Lactoferrin Market, By Product (Spray-dried, and Freeze-dried), By Application (Infant Formula, Pharmaceuticals, Dietary Supplements, Food, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029”.
In April 2018, Ingredia announced the launch of a new product in the lactoferrin space. The company introduced PROFERRIN lactoferrin in the global market. This product was intended to be used in improving gut health and to exhibit anti-microbial and anti-inflammatory properties.
In March 2019, Hong Kong Jin Gang Trade Holding Limited announced that it has completed the acquisition of Westland Co-operative Dairy Company Limited with an aim to strengthen its market position in New Zealand.
Increasing consumption of infant formula
An increasing number of working woman has been observed globally, which has lowered the overall breastfeeding rates. For instance, according to the data published by the World Health Organization (WHO), it is estimated that only 38.0% of all infant aged between 0 to 6 months are exclusively breastfed. Emerging countries like China, India and Japan have recorded higher growth in the ratio of female to male labor force, resulting working women shifting towards the infant formula feeding to the children, rather than breastfeeding. This has led to the higher demand in these countries.
During 2016-17, some countries in North America, Europe and Latin America allowed infant formula players to manufactures and market products with added lactoferrin. This has opened new regional markets for various manufacturers. For instance, in April 2017, Synlait Ltd. Received the FDA approval to export lactoferrin to the U.S., further to be used infant and toddler formula. Thus, these changes in regulation regarding to the use of protein as an added ingredient in infant formula are instrumental in rising demand for these products in global markets. However, the high cost of lactoferrin to limit the adoption in different product might be hampering the growth of the market.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Bovine Lactoferrin Market”, By Product (Spray-dried, and Freeze-dried), By Application (Infant Formula, Pharmaceuticals, Dietary Supplements, Food, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029
Key Market Insights from the report:
The global bovine lactoferrin market accounted for US$ XX billion in 2019 and is estimated to be US$ XX billion by 2029 and is anticipated to register a CAGR of XX%. The market report has been segmented on the basis of product, application and region.
Depending upon product, the freeze-dried segment is projected to grow at highest CAGR over the forecast period due to technical advantage of freeze drying techniques over spray dried such as high quality and purity of product coupled with comparatively higher iron-binding capacity.
Depending upon application, the infant formula segment is projected to grow at highest CAGR over the forecast period owing to rising awareness among common people regarding to health and immunity.
By region, North America dominated the market due to recent approval by the U.S. FDA for use of lactoferrin in infant formula. This is led to highest adoption rate as compared to the previous year.
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The prominent player operating in the global bovine lactoferrin market includes Fonterra Group, Bega Cheese, FrieslandCampina (DMV), Milei Gmbh, Glanbia Nutritionals, Westland Milk, Tatua, Synlait Milk, WBC, Murray Goulburn, and Ingredia Nutritional.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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