Press release
Growth In Sales of Lactoferrin Market To Be Largely Driven By Rising Consumer Adoption : Fact.MR
Lactoferrin market revenue was estimated at USD 234.5 Mn in 2021 and is expected to grow at a steady CAGR of 8% from 2022 to 2032. The market is predicted to reach a global valuation of US$ 546.77 Mn by the end of 2032.Lactoferrin may have anti-inflammatory effects relevant to the pathophysiology of cases involving COVID-19. The lack of a cure or vaccine in 2020 led to an increase in the demand for immunity boosters. With the increasing popularity of preventive measures for the COVID-19 infection, lactoferrin-based products are expected to see an additional boost in demand in 2020. Lactoferrin-based infant formulas experienced immense demand following the outbreak of COVID-19, especially in Asia Pacific.
Over the forecast period, the lactoferrin market is expected to grow as a result of increased consumer awareness about gut health. This is in addition to the demand for products that reduce intestinal inflammation. Demand for the products is expected to be boosted by brand awareness bolstered by marketing efforts taken by brand owners, as well as the preference for organic products with minimal side effects and higher efficiency.
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Key Segments Covered in the Craft Beer Industry Survey
By Function :
Antioxidant
Immune Cell Stimulation
Antibacterial
Intestinal Flora Protection
Anti-inflammatory
Iron Absorption
By Application :
Animal Feed
Personal Care Products
Pharmaceuticals
Sports & Functional Foods
Infant Formula
Food & Beverages
Key Takeaways from the Market Study
The global lactoferrin market is expected to reach a market size worth US$ 253.36 Mn at the end of 2022.
With a revenue share of over 41.5%, Asia Pacific will remain the largest regional market throughout the forecast period.
Iron absorption market accounted for over 28.5% of the overall revenue.
Infant formula segment accounts for more than 38.5% of the market's revenue
North America to accumulate a market share of 38% in 2022.
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Competitive Landscape
Small and medium-sized businesses dominate the lactoferrin market, which is highly fragmented. The main cause is the logistical indifference caused by producers of dairy products in different countries. The perishable nature of dairy products creates a disparity between producers and small and medium businesses that are able to take advantage by sourcing local dairy products in good time to meet their production needs.
A number of factors are likely to impact the distribution of final products, including the intensity of competition, the size and development of the local market, and labor availability. Hypermarkets, online shopping platforms, supermarkets, convenience stores and specialty shops are the most common forms of retailing for most companies. The objective of the new players as well as the existing ones is to achieve a higher market share during the forecast period by focusing on their capacity expansion. by the end of 2032, this will lead to a highly fragmented market.
In 2021, Beston Global Food Company Ltd expanded its capacity for 95% pure lactoferrin to 25 metric tons per year to meet the rising demand.
In September 2020, Frieslandcampina DOMO declared its initiative to increase the production of lactoferrin in Veghel from 9 tons to around 60 tonnes by 2022 to meet the growing demand in the market, especially for infant formula.
An Australian company, Jatenergy Ltd., had announced a surge in sales of dairy-based infant nutrition products, which contain lactoferrin. In March 2020, the company reported a USD 5.4 million monthly sale.
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