Global Lactoferrin Market Is Expected To Grow With A Steady CAGR of 8% By 2032

The global Lactoferrin Market was estimated to be worth US$ 253.36 Mn in the year 2022 and is expected to grow with a steady CAGR of 8% during the forecast period, 2022- 2032. By the end of 2032, the market is predicted to reach a global valuation of US$ 546.77 Mn.

With consumers becoming increasingly aware of health and diet issues, combined with skin-related illnesses on the rise, demand for skincare products is expected to grow and along with that steady growth in the Lactoferrin Market will be seen too.

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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.
Increased awareness about maintaining gut health is prompting consumers to opt for lactoferrin products, providing manufacturers with the opportunity to introduce new products into the market, says a Fact.MR analyst.

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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.

Key Players in the Lactoferrin Market:

Pharming Group NV
Ferrin-tech LLC
Milei GmbH
InVitria
Farbest Brands
Fonterra Cooperative Group Ltd.
ProHealth
APS BioGroup
Glanbia plc
Friesland Camina
Hilmar Cheese Company
Synlait Milk Ltd.

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Key Segments Covered in the Lactoferrin 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

The increased demand for clinical trials will increase the revenue in this market
More than 38.5% of the market's revenue in 2021 came from the infant formula segment. During the period of 2022-2032, the segment is expected to expand at a steady CAGR.

Due to the growth in the number of clinical studies supporting the integration of lactoferrin into infant formula as well as changing consumer preferences towards supplementary foods, it is anticipated that demand will increase. Developed countries account for most of the demand for infant nutrition due to their significant disposable incomes, busy work schedules, and the increasing incidences of iron deficiency in infants.

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