Global Lactoferrin Market, By Function (Iron Absorption, Anti-inflammatory, Intestinal Flora Protection, Antibacterial, Immune Cell Stimulation, Antioxidant); By Application (Food & Beverages, Infant Formula, Sports & Functional Foods, Pharmaceuticals, Personal Care Products, Other applications); By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2017-2027

Global Lactoferrin Market- Industry Trends & Forecast Report 2027

The global lactoferrin market has reached USD 225.22 million in 2020. It is further projected to reach USD 393.12million by 2027, at a CAGR of 7.9% during the forecast period (2021-2027). The global lactoferrin market is expected to be driven by increasing health awareness among the population, an increase in the number of skin allergies and diseases, as well as the growth of the global acne treatment market.

Companies operating in the global lactoferrin market are investing heavily in the R&D of new products and technologies, which is expected to drive the market during the forecast period. Lactoferrin is generally found in milk and is an essential part of the diet of babies and toddlers. Nowadays, milk protein is processed in a variety of ways and used in a variety of nutritious powders, beverages, and snacks. Lactoferrin, which was first discovered in 1939, has a distinctive pink color in its pure form. Lactoferrin has various sources, but the highest concentration of lactoferrin is found in human milk.

Source: BlueWeave Consulting

Global Lactoferrin MarketOverview:

Lactoferrin is a natural iron-binding milk glycoprotein found in human milk and bovine milk. Bovine is a term used to refer to domestic animals of the species Bostaurus (cattle) or Bubalusbubalis (water buffalo), and also includes hybrids like Beefalo. The concentration of lactoferrin is highest in human colostrum. Colostrum is the term used for the first form of milk produced from the mammary glands of mammals. The concentration of lactoferrin in the human colostrum can be as high as six times of bovine colostrum. Human colostrum contains 6-8 gm of lactoferrin per liter of milk, while bovine colostrum contains only 1 gm of lactoferrin per liter of milk. Scientific studies show that lactoferrin boosts the human immune system as it possesses antimicrobial, antioxidant, and anti-carcinogenic properties, which provide numerous health benefits.

Global LactoferrinMarketForecast and Trends

Growth Drivers 

Rising awareness amongst consumers regarding health and diet

With time, people are getting more and more aware of the pros and cons of what they are consuming. Cow milk is believed to cause anemia in babies and toddlers, despite being one of the healthiest diets. Moreover, excessive consumption of cow milk can even cause anemia in adults. According to WHO, 42% of children less than 5 years of age and 40% of pregnant women worldwide are anemic.

Lactoferrin is a new generation solution against anemia. It's been recognized as a member of the transferrin family for a long time and is important for regulating the body's iron levels. It enhances the iron-binding properties of fluids in the body, increases the number of red blood cells, hemoglobin levels, serum ferritin, and total iron levels. All these properties of lactoferrin are contributing to the increasing popularity of lactoferrin, which in turn, are expected to drive the global lactoferrin market during the forecast period.

Increasing prevalence of skin diseases

Skin diseases are one of the most common diseases in the world, and their prevalence is on the rise. According to the American Academy of Dermatology Association, about 50 million Americans are affected by acne each year, with 85% of those aged 12 to 24 suffering from mild acne. Acne is typically triggered during puberty or a woman's menstrual cycle, or by excess oil production by the sebaceous glands. It is usually related to a hormonal imbalance in the body. According to WHO, acne is the 8^th most prevalent disease in the world.

Lactoferrin is widely used for treating acne due to its antibacterial and antiviral properties. Moreover, Lactoferrin, combined with Vitamin E and Zinc, improves acne in 30 days. With the market of personal hygiene and beauty products growing, the application of lactoferrin is also increasing. This increasing use of lactoferrin is expected to affect the global lactoferrin market positively and contribute to the growth of the market during the forecast period.

Restraints

Side effects of lactoferrin may impede the growth of the global lactoferrin market

Lactoferrinoffers a variety of health benefits, but it also has some side-effects. Lactoferrin has no side effects in normal doses, but it can cause problems when taken in excessive quantity. Excessive intake of lactoferrin is associated with diarrhea, skin rash, loss of appetite, fatigue, chills, and constipation. Up to 250 mg daily dose of lactoferrin is said to be safe for pregnant women. Nevertheless, it is advisable to consult the doctor before taking a high dose of lactoferrin. These limitations are expected to limit the growth of the global lactoferrin market in the forecast period.

Global Lactoferrin Market: By Function

Lactoferrinperforms a host of functions, including iron absorption, anti-inflammatory, intestinal flora protection, and antibacterial protection, among others. The global Lactoferrin Market has been witnessing increasing demand for lactoferrin due to its iron absorption properties. Generally, ferrous sulfate is used as a cure for anemia but lactoferrin is a new generation alternative of ferrous sulfate. It has a high level of bioavailability and is completely natural. It also increases serum ferritin levels by almost five times and facilitates easy absorption of iron into the body. The demand for lactoferrinis also soaring because of its excellent antibacterial properties and its ability to prevent the formation of harmful biofilm. Pharmaceutical companies are working towards incorporating lactoferrin in many antibacterial and antimicrobial drugs. Iron binding properties, along with antibacterial & antimicrobial properties with increasing demand from the pharmaceutical industry are expected to contribute to the growth of the global lactoferrin market during the forecast period.

Impact of COVID-19 in the industry

The onset of novel coronavirus has affected the global economy besides affecting business operations. Due to the high infection rate and adverse impact on public health systems, various countries had to enforce nationwide lockdowns. Industry players are currently considering digital diagnostic and treatment solutions to serve the community and provide newfangled opportunities to do business.

COVID-19 has significantly impacted the development of new treatment methods, medicines, and related services, as almost 90% of all clinical trials were either completely shut down or put on hold indefinitely. Many industries were shut down and plants were either running on low capacity or were shut down entirely. Supply chains and distribution channels were also severely affected, which in turn affected the global lactoferrin market as the demand for lactoferrin took a massive hit. Nevertheless, with countries easing their lockdown restrictions, border restrictions are slowly being eased and industries are reopening. Therefore, the demand for lactoferrin is expected to grow steadily in the future.

Global Lactoferrin Market: By Application

Lactoferrin has various applications across many industries, including food & beverages, sports & functional foods, infant formula, and many other applications. For example, Anemia is very prevalent among infants. According to the World Health Organization (WHO), around 57% of babies below the age of 5 years are suffering from anemia in India. The situation in Africa is much worse, with more than half of all children under the age of five suffering from anemia in the majority of countries. The global lactoferrin market has seen rising demand and application in infant formulas and medicines due to its high bioavailability and excellent iron-binding properties. This segment is also expected to grow during the forecast period and contribute to the growth of the global lactoferrin market. The personal care products and pharmaceuticals segment also witnessed an increasing application of lactoferrin owing to its antibacterial, anti-inflammatory, and antimicrobial properties. These factors are expected to contribute significantly towards the growth of the global lactoferrin market during the forecast period.

Source: BlueWeave Consulting

Global Lactoferrin Market: Regional Insights

The global lactoferrin market is segmented into five regions: North America, Europe, the Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific market accounts for the largest share in the global lactoferrin market and is expected to lead the market during the forecast period as well.

Asia-Pacific has the largest market in the global lactoferrin market due to the large population of infants, the high occurrence rate of anemia among children, and the growing market of pharmaceuticals and personal care segments. For example, India, one of the largest economies in Asia and also in the world, has more than 50% of children below 5 years of age suffering from anemia. Other Asian countries also have a very high percentage of children suffering from anemia. The rising demand for personal care products in Asia-Pacific have also contributed to the region’s large market share in the global lactoferrin market.

With a high demand for lactoferrin in baby formula, acne remedy products, and therapies, and pharmaceuticals segment, North America has the second-largest share of the global lactoferrin market. Europe accounted for the third-largest market share followed by the Middle East & Africa and Latin America. A similar trend is expected to be continued during the forecast period.

Source: BlueWeave Consulting

Competitive landscape

The global lactoferrin market is fragmented in nature. Some of the key players operating in the market Metagenics, Inc., Westland Cooperative Dairy Co., Ltd, Morinaga Milk Industry Co., Ltd, Synlait Milk Ltd., Ingredia SA, Bega Bionutrients, MP Biomedicals, Tatura Milk Industries Ltd, Glanbia PLC, APS BioGroup, and other prominent players. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and a focus on continuous technology innovations are also strategies adopted by the major industry players. The companies are also trying to dominate the market by investing in research and development.

Various companies are striving to gain market share by adopting competitive strategies such as joint ventures and research partnerships. The market players compete based on product quality, standard compliance, performance, as well as the cost-effective manufacturing process, which in turn optimizes the process for better production.

Recent Development

·         In October 2020, Morinaga Milk announced that its German subsidiary, MILEI GmbH will increase its lactoferrin production capacity.MILEI's current lactoferrin capacity will be more than doubled, and the expansion is scheduled to be finished by April 2021.

·         In August 2019, Westland Co-operative Dairy Company Limited was acquired by Inner Mongolia Yili Industrial Group Company Limited for USD 588 million. Westland Co-operative Dairy company is New Zealand's second-largest dairy co-operative, and Yili Group is the largest dairy enterprise in China.

Scope of the Report

Scope of the Report

By Function (Value, USD Million: 2017-2027)

Ø  Iron Absorption

Ø  Anti-inflammatory

Ø  Intestinal Flora Protection

Ø  Antibacterial

Ø  Immune Cell Stimulation

Ø  Antioxidant

By Application (Value, USD Million: 2017-2027)

Ø  Food & Beverages

Ø  Infant Formula

Ø  Sports & Functional Foods

Ø  Pharmaceuticals

Ø  Personal Care Products

Ø  Other applications

By Region

Ø  North America

Ø  Europe

Ø  The Asia-Pacific (APAC)

Ø  Latin America (LATAM)

Ø  The Middle-East & Africa (MEA)

FAQ:

1.    What is the current size of the global lactoferrin market?

Ans: The current size of the global lactoferrin market is USD 225.22 million.

2.    What are the major factors driving the growth of the global lactoferrin market?

Ans: Increasing health awareness among the population, increasing incidences of skin diseases and growing anemia cases in infants and babies are some of the major factors driving the growth of the global lactoferrin market.

3.    Who are the key players in the global lactoferrin market?

Ans: Metagenics, Inc., Westland Cooperative Dairy Co., Ltd, Morinaga Milk Industry Co., Ltd, Synlait Milk Ltd., and Ingredia SA are some of the key players operating in the global lactoferrin market.

4.    Which application segment accounted for the largest market share in the global lactoferrin market?

Ans: Infant formulations accounted for the largest market share in the global lactoferrin market.

5.    Which region accounted for the largest market share in the global lactoferrin market?

Ans: The Asia-Pacific region accounted for the largest market share in the global lactoferrin market.