Lactoferrin Market – Market Forecast
Lactoferrin Market was prized at USD 183.9 million in
2019, and it is predictable to reach USD 389.1 million by 2026, at a CAGR of 11.3
%, over the forecast period. The increasing consciousness among consumers concerning health and diet, al the rising prevalence of
skin-related health circumstances are predictable to boost demand. Lactoferrin is alleged to have antiviral, antibacterial, antiparasitic, catalytic, and anti-allergic functions and properties. Which is predicted to drive the product demand from pharmaceutical and personal care industries. The acne cure market is also consequently predictable to see healthy development during the estimated period. Numerous clinical trials have proven the capability of lactoferrin to treat acne and other such skin disorders efficiently. Due to its anti-provocative properties, lactoferrin eliminates the main food foundation for pathogens by nullifying its contributors. Increasing consumer consciousness towards gut fitness, joined with the increasing demand of lactoferrin to avoid bad-tempered bowel drive and bloating and reduces colonic inflammation, is expected to boost this section's request for the prediction period.
Due to product advertising, consumer consciousness was taken by brand owners coupled with an inclination toward organic products with minimum side effects. Higher efficiency is probable to boost demand. Rising health awareness among consumers is a significant cause driving the development of the lactoferrin. As lactoferrin controls, iron metabolism, and additional market acts as an antibacterial agent with antioxidant properties and refines immunity. Besides, there has been a growth in the request for sports diet products due to the growing fitness trend among youths. This is likely to drive the lactoferrin addition market as lactoferrin offers nutritional value and is easy to eat.
Around 25% of the worldwide people suffer from anemia due to iron deficit. Lactoferrin supplements are a healthier and safe solution to treat anemia as they control iron immersion and metabolism. The percentage of lactose intolerant population has been growing, and lactose prejudice can further lead to an iron shortage. Lactoferrin supplements do not contain lactose and, thus, are a viable source of iron for lactose-intolerant customers. This experiment is expected to fuel the development of the lactoferrin supplement market in the pending years.
Lactoferrin Market – Overview
Lactoferrin is a multipurpose, iron-binding protein found in colostrum and breast milk? It plays an essential role in improving immunity, as it owns antitumor, antimicrobial, immunostimulant, anti-inflammatory properties. Besides, Lactoferrin works efficiently to cure stomach and intestinal ulcers, hepatitis C, and diarrhea. Whereas, its antioxidant and antimicrobial properties offer defense against bacterial and viral contagions. The Product is observing massive requests in Asia for various nutritional applications, including infant formula, dietary additions, food & beverages, and sports nutrition. The overindulge of lactoferrin supplements can cause a skin rash, constipation, loss of appetite, etc. Therefore, the lack of mindfulness about the ingesting and dosage of lactoferrin additions can be an upper limit in developing the lactoferrin supplement market.
Rising awareness amongst consumers
regarding health and diet
The increasing awareness amongst consumers regarding health and diet and the rising prevalence of skin-related health conditions are predicted to increase the request. Lactoferrin is assumed to have catalytic, antiviral, antibacterial, anti-parasitic, and anti-allergic functions and properties, which is expected to drive the product demand from pharmaceutical and personal care industries. The acne treatment market is also consequently expected to witness healthy development during the prediction period. Numerous clinical trials have proven the capability of lactoferrin to treat acne and other such skin circumstances efficiently.
Strong Growth Potential in the Developing Countries
The consumer’s fondness for cosmeceutical products that syndicate cosmetic and pharmaceutical features, such as acne conduct and anti-aging, is increasingly becoming famous and is projected to see growth at 10% - 20% per annum in the Asia-Pacific region. Personal care is the primary market in China, Australia, and India. Lactoferrin is expected to record a surging demand in acne care products. Lactoferrin, combined with vitamin A and zinc, acts as a critical ingredient for mild to moderate acne. Dairy proteins are measured the most significant foundations of bioactive peptide. There has been a growth in the usage of these peptides in various sports nourishment and nutraceuticals due to the rise in mindfulness on numerous health issues and rising people and growing disposable income.
The Lactoferrin Market is divided into Product Type, Applications, Sales channel, and Regional. Based on Applications, The lactoferrin market is majorly determined by its growing applications in the food & beverage sector. After getting a “novel food” status from the EFSA, it has been considered secure to use in food products. Which is why it is an extensively used in non- alcoholic beverages, diet food for particular therapeutic determinations, and milk-based products, amid others; in line with this, several companies have initiated using lactoferrin for the industrial of yogurt and sphere formulas.
Based on the sales channel, the market is segmented into direct sales and indirect sales. The manufactures in the market are leaning towards the attitude of direct sales. Additionally, several players are appealing in strategic corporations to attend to the growing demand for lactoferrin and gain a modest edge, further increasing market growth.
Lactoferrin Market: Regional
The Asia Pacific developed as the leading regional section in 2019. China, India, and Japan were found to be the most important local markets for the product. This significant share of Asia Pacific can be attributed to the growing spending volume of the consumers. The presence of a considerable consumer base in these countries and increasing birth rates among the population is anticipated to create development opportunities. The Asia Pacific, unlike most other regions, has a substantial number of medium and small businesses. Moreover, with the growing literacy rate coupled with increasing consumer mindfulness regarding pharmaceutical, infant nutrition, personal care products alongside consumer leaning toward organic products is predictable to drive the growth.
North America is sized to be the second-largest market for lactoferrin in 2019, with a revenue share of 22.7% in 2019. The U.S. emerged to be the primary market. The rising occurrence of peptic grief has driven product requests throughout the country. Furthermore, the rise in supermarkets, specialty stores, hypermarkets, and incentivized marketing system adopted by brand owners to expand its sales is predictable to boost the regional product request in the coming years.
NOW Foods, Jarrow Formulas, Life Extension, Fonterra Cooperative Group, Glanbia Nutritionals, Synlait Milk Ltd., Metagenics, Inc., Naturade, Ingredia SA, Agennix Inc., and Morinaga Milk Industry Co. Ltd. and other prominent players.
Ø By Product
Spray Dried Powder
Ø By Application
Food & Beverage
Personal care products
Ø By Sales Channel
Ø By Region
East & Africa
The objective of the Study:
analyze and forecast the Lactoferrin Market size of the market in terms of
examine the careful market segmentation and forecast the market size, in terms
of value, based on the region by segmenting.
Ø The Lactoferrin
Market segmented into five regions, namely, North America, Europe, Asia
Pacific, Middle East, South America, and their leading countries.
outline, categorized, and forecast the Lactoferrin Market based on the Product,
By Application, Sales Channel, and by Regional.
examine competitive developments like by Product, By Application, Sales Channel
and By Regional within the Lactoferrin Market.
highlight the impact analysis of the factors affecting the market dynamics such
as growth drivers.
strategically profile the key players and comprehensively analyze their market
shares along with detailing the competitive landscape for market leaders.
Business Questions Answer by the Report
Ø How will the
market drivers, restraints, and opportunities affect market dynamics?
Ø What will be the market size in terms of value and volume and market statistics with a detailed
Ø Which segment
dominates the market or region, and one will be the fastest-growing, and why?
Ø A comprehensive
survey of the competitive landscape and the market participant players
Ø Analysis of the strategy adopted by the key player and their impact on other players.
Customization Scope for the Client
satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:
Additional Company Information
Ø With five
additional company detail analysis
Ø Detailed segment