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Colostrum Market 2024 Future Trends, Scope, Industry Analysis And Forecast To 2033
Colostrum Market Share
According to The Business Research Company's, The colostrum market size has grown steadily in recent years. It will grow from $1.76 billion in 2023 to $1.83 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to health and wellness awareness, rising interest in natural and functional foods, expanding nutraceutical industry, research on colostrum's health benefits, increased demand in infant nutrition.
The colostrum market size is expected to see steady growth in the next few years. It will grow to $2.19 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to expanding functional beverage market, focus on immune health, expanding e-commerce platforms, rise in pet supplements market, innovations in product formulations. Major trends in the forecast period include demand for nutritional supplements, expanding applications in functional foods, rising interest in sports nutrition, focus on sustainable and ethical sourcing, clinical applications in medicine.
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Market Drivers and Trends:
Growing demand for animal feed formulations is expected to propel the growth of the colostrum market going forward. Feed formulation is the process of creating a balanced diet for animals by selecting and mixing various feed components in appropriate amounts to meet the specific nutritional needs of the animal. Colostrum replacer contains greater levels of IgG and other nutrients and provides an effective, convenient method of providing passive immunity to calves when maternal colostrum is not available. For instance, according to Alltech, a US-based nutrition company, the feed production of North America, which was 259 million tons in 2021, increased to 261 million tons in 2022. Therefore, the growing demand for animal feed formulations is driving the colostrum market.
Major companies operating in the colostrum market are developing innovative products such as fortified colostrum to support calf health. Fortified colostrum is colostrum that has been enhanced with additional ingredients to further boost its potential health benefits. For instance, in April 2021, Cogent Breeding Ltd., a UK-based livestock breeder launched Primestart Colostrum, a complete replacer for the newborn calf. Primestart Colostrum is designed to mix up to 2 liters and is available in bulk powder format or as a finished consumer good in capsules, tablets, and sachets. The introduction of Primestart Colostrum reflects the growing demand for functional foods and supplements, particularly in the animal feed industry, where colostrum is used to improve the health and growth of young animals
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Major Key Players of the Market:
APS Biogroup Inc.; Biostrum Nutritech Pvt. Ltd.; Biotaris B.V.; Cuprem Inc.; Cure Nutraceutical Pvt. Ltd.; Deep Blue Health NZ; Good Health Co.; Immuno-Dynamics Inc.; Ingredia SA; La Belle Inc.; NIG Nutritionals Limited; Now Health Group Inc.; PanTheryx Inc.; Sterling Technology; The Saskatoon Colostrum Company Ltd.; Colostrum BioTec GmbH; Puralife LLC; New Image International; Imu-Tek Inc.; Changfu Milk; Biochem Zusatzstoffe Handels- und Produktionsgesellschaft mbH; Biova LLC; BioCordis Corporation; Proliant Biologicals; Biodane Pharma A/S; Agati Healthcare Pvt. Ltd.; Bioiberica S.A.U.; Synlait Milk Ltd.; Fonterra Co-operative Group Limited; Life Time Vitamins
Colostrum Market 2024 Key Insights:
• The colostrum market size will grow to $2.19 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%.
• Rising Demand In Animal Feed Formulations For Enhanced Nutrition And Immunity
• Innovative Fortified Product For Enhanced Calf Health
• Asia-Pacific was the largest region in the colostrum market in 2023
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