Bovine Lactoferrin Market

Bovine Lactoferrin Market Size

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Bovine Lactoferrin size was USD 554.4 million in 2021 and projected to grow from USD 700.6 million in 2023 to USD 2042.8 million by 2032, exhibiting a CAGR of 12.6% during the forecast period.

Bovine lactoferrin is a protein present in human and cow milk. Lactoferrin is also found in fluids of eye, respiratory tract, nose, and intestine. Lactoferrin reduces the speed of bacteria by assisting them with nutrients. Lactoferrin even disrupts walls around bacteria and helps in the iron absorption into the physique from intestine. Lactoferrin in mother's breast milk is said to protect infants against infections on consuming. The key players are focusing on introducing new cost effective and affordable products of bovine lactoferrin as it improves the body’s immunity which may support in the market growth.

Market Highlights

Bovine Lactoferrin Market is expected to project a CAGR of 12.6% during the forecast period, 2022-2032

Bovine Lactoferrin Market is expected to reach USD 2042.8 million, growing at a CAGR of 12.6% during forecast period owing to the growing demand for dietary supplements and increasing demand and necessity of nutritional foods which is anticipated to boost the growth of bovine lactoferrin market. The trend of convenient feeding is increasing which has supported the key manufacturers of infant food to introduce nutrient-rich supplements to help the working moms globally. Lactoferrin has the capability to treat skin disorders and is administered in pharmaceutical & personal care items, anti-viral, antibacterial and anti-inflammatory purposes.

Bovine Lactoferrin Market Segmentation:

Spray Dried Powder segment is expected to grow with high CAGR during the forecast period

Bovine Lactoferrin Market is classified based on the Type into Freeze dried & milled, Spray Dried Powder. The Freeze dried & milled segment dominated the market in 2021 owing to the antioxidant activity, improved quality of the end product, and high iron-binding capacity. The Spray Dried Powder segment dominate the market in the forecast period owing to its suitability for bulk application and the presence of several advantages like scalability, flexibility which are expected to boost the growth of the segment in the market.

Dietary supplements segment is expected to grow with high CAGR during the forecast period

Bovine Lactoferrin Market is classified based on the Application into Dietary supplements, Infant Formula, Pharmaceuticals, Food and Others. Infant Formula segment dominated the market in 2021 due to the presence of several clinical benefits of these products like growing immunity and digestion in infants. Dietary supplements segment is expected to dominate the market in the forecast period due to the increasing awareness for healthy living by adopting healthy dietary habits which is expected to boost market growth.

Market Dynamics:   

Growth Drivers

Increasing Demand for Dietary Supplements is Expected to Boost the Growth of the Market

Dietary supplements are the additives utilized to supplement our diet with essential nutrients or to reduce the risk of certain health problems. Dietary supplements contain essential minerals, vitamins, amino acids, and enzymes which provide required nutrition for people who are deficit of and are looking to consume these dietary supplements. Bovine lactoferrin provides vital nutrients to the human body and are used for providing dietary supplements which are expected to boost the growth of the Bovine Lactoferrin Market.

Growing Incidence of Ulcers is Expected to Boost the Growth of the Market

Peptic ulcers are also known as stomach ulcers, usually caused by microorganisms or uncontrolled use of painkillers. Majority of the population are dealing with peptic ulcer disorders globally and the bovine lactoferrin improves the efficiency of few medicines for the treatment of ulcer diseases, and it is expected to boost the growth of the market Increasing prevalence of peptic ulcer disease is expected to develop the market for Bovine Lactoferrin Market.

Restraint

High Cost of Products May Restrain the Growth of the Market

The demand for advanced nutritional and infant formula products is increasing but the high cost of products containing bovine lactoferrin may restrict the growth of the market. The growing advertisements on the importance of breast-feeding practices may also hamper the growth of the market due to the reduced demand of infant formula.

Recent Developments:

• In June 2021, Beston Global Food Company Ltd. declared the expansion of their Jervois dairy factory in Australia.
• In November 2020, Bega Cheese Limited declared their agreement for the entry into sale and purchase with Lion Dairy & Drinks.

Bovine Lactoferrin Market

Key Players Covered:

• FrieslandCampina DOMO 
• Bega Cheese Ltd.
• MILEI GmbH 
• Beston Global Food Company Ltd 
• Glanbia Plc.
• Synlait Ltd.
• SAVENCIA SA
• Noumi Limited
• FREEDOM FOODS GROUP LIMITED
• Saputo Dairy Australia Pty Ltd.
• Ingredia
• Other Prominent Players

(Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Bovine Lactoferrin Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia-Pacific region dominated the market during the forecast period due to the growing demand for infant formula, increased awareness in public on nutritional products and the development of products containing lactoferrin by the key players.
The advancements in technology is leading to the growing supply of lactoferrin which is expected to drive the growth of the market.

Impact of Covid-19 on Bovine Lactoferrin Market

The COVID-19 outbreak had resulted in the downfall of economies globally. Several countries had imposed lockdowns and applied travel restrictions to control the spread of the virus. The COVID-19 outbreak had a negative impact on the growth of Bovine Lactoferrin market globally. The presence of high capacity due to the expansion by the market players had negative impact during pandemic. The use over lactoferrin for infant formula had reduced in pandemic which resulted in declining the growth of market during pandemic.

Bovine Lactoferrin Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.

Bovine Lactoferrin Market Scope and Segments:

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