Global Lactoferrin Market Size Was Worth USD 219.2 Million in 2020 and Is Projected to Grow to USD 411.8 Million by 2028

Global Lactoferrin Market Size Was Worth USD 219.2 Million in 2020 and Is Projected to Grow to USD 411.8 Million by 2028

Lactoferrin: Introduction

Lactoferrin is the type of protein found in cow and human milk. It is a multifunctional protein that is present in the fluids of the eyes, nose as well as the intestine as well as respiratory tracts. It serves as a shield against bacterial and viral infections and is one of the most effective antioxidants. It plays an essential role in treating severe diarrhea and iron deficiency. It has a wide range of applications in food and beverages, cosmetics, and various other fields.

The Global Lactoferrin Market Forecast: 

The Global Lactoferrin Market size was worth US$ 219.2 Million in 2020, and it is estimated to reach a valuation of US$ 411.8 Million by the end of 2028, expanding at an annual rate of about 8.2% between 2021 and 2028.

Due to the rising number of skin-related illnesses and skin-related health issues, it is no wonder that the Lactoferrin Market is driving tremendous growth. Furthermore, the increasing awareness of health and diet for the younger population is the main element that is driving the development in the industry.

The Global Lactoferrin Market Overview: 

The primary section of this report concentrates on fundamental market dynamics that include drivers, restrictions, opportunities, and the difficulties faced by the market. The drivers and restraints are fundamental elements, while opportunities and challenges are external factors in the market.

The global market for lactoferrin size was estimated at US$ 219.2 million by 2020. It is projected to grow at a compound annual growth rate (CAGR) of 8.2% during the forecast time. The growing awareness among consumers about health and diet and the growing incidence of skin-related health issues is expected to drive the demand for it.

Lactoferrin has been identified to have Antibacterial, antiparasitic, Antiviral, catalytic, and anti-allergic capabilities and properties. It is expected to boost demand for the product from the personal and pharmaceutical industries. As per the American Academy of Dermatology, acne is the most frequent skin problem across the U.S., affecting over 40-50 million people across the nation each year. The market for acne treatments is expected to grow significantly over the forecast time. With the growing number of skin-related illnesses and skin-related health issues, the Lactoferrin Market is driving tremendous growth. Additionally, the growing awareness of health and diet for the younger population is the main reason behind the rapid development in the industry.

Furthermore, the benefits that are associated with Lactoferrin like catalytic, antibacterial and anti-allergic, and other properties contributed to the improvement of the immune system, which imposed an optimistic outlook on the expansion of this market. However, the excessive consumption of it caused health problems and worries about the negative effects of the drug that are expected to limit the expansion that the industry is experiencing.

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Market Trend and Dynamics of the Global Lactoferrin Market:

The market for Lactoferrin in the world is expected to grow to USD 411.8 million by 2028. This will result in an annual revenue-based CAGR of 8.2 percent over the forecast period, according to a new report published by Credible Markets Research.

In the process of increasing the use of lactoferrin diverse product ranges, such as infant foods, food supplements, and dietetic foods, as well as alcoholic drinks with sports nutrition, cosmetics, and personal care products could boost the market for Lactoferrin in the next few years, and is attributed to its health-enhancing properties. Lactoferrin stimulates the immune system, helps prevent cell destruction caused by age and promotes the growth of beneficial bacteria inside the digestive tract and regulates bacteria, viruses, and fungi as well as acts as an inhibitor of the metabolism of iron. Lactoferrin inhibits the replication of the virus at the intracellular level; therefore, It is found to be very effective in the treatment of hepatitis C infection. This, the vast applicability of Lactoferrin in pharmaceutical, nutraceutical, and personal care sectors is expected to boost the demand over the forecast period.

Human colostrum is the most concentrated lactoferrin level and is being followed by human milk, the bovine milk. It can also be present in human body fluids such as eyes, noses as well as the intestine, and the respiratory tract. It can be utilized as an amalgamation of certain species of friendly bacteria together; they are known to enhance the immune function of the body. They also alert to the white blood cells of harmful microbes and stabilize colonies of beneficial bacteria in the gut. In the commercial market, Lactoferrin is often combined with probiotics to accomplish this.

The Asia Pacific is predicted to grow at a rate of more than 7.5 percent during the forecast time. The market for Lactoferrin is predicted to experience a rapid increase in demand as major market players continue to adopt strategies to expand their reach in economies that are not yet fully developed in South East Asia. Countries such as Japan, China, and Australia have experienced the massive health benefits of Lactoferrin, which is predicted to boost regional growth in the coming years.   

The Key Market Segmentation of the Global Lactoferrin Market: 

This Research Report Categorized The Global Organic Yeast Market Based on Product Types, Function, Application, and Geographical Landscape.

Lactoferrin Market Segmentation By Product Type:

Spray Dried Powder And Freeze-dried Powder

Lactoferrin Market Segmentation By Function:

Iron Absorption, Anti-inflammatory, Intestinal Flora Protection, Antibacterial, Immune Cell Stimulation And Antioxidant

Lactoferrin Market Segmentation By Application:

Food & Beverages, Infant Formula, Sports & Functional Foods, Pharmaceuticals, Personal Care Products, And Animal Feed

Lactoferrin Market Segmentation By Geographical Landscape:

North America, Europe, Asia Pacific, South America, And Middle East and Africa

Major Key Players in the Global Lactoferrin Market Are:

  • Pharming Group NV,
  • Synlait Milk Ltd., 
  • Morinaga Milk Industry Co. Ltd.
  • Fonterra Cooperative Group Ltd., 
  • MP Biomedicals, 
  • The Tatua Co-operative Dairy Company Limited
  • Ferrin-Tech, Bega Cheese Ltd.
  • Jarrow Formulas
  • Tatura Milk Industries Ltd, 
  • Glanbia PLC, ProHealth, 
  • Life Extension
  • NutriScience Innovations LLC.
  • Metagenics, Inc., 
  • Westland Cooperative Dairy Co., Ltd, 
  • Ingredia SA.

The Global Lactoferrin Market Report Highlights:

According to WHO, Anemia is a problem that affects over 1.61 billion people across worldwide, and the most significant prevalence is seen among youngsters in the pre-teen years, comprising 47.3 percent of the total affected population.

In June of 2019, Freedom Foods proclaimed that it would begin production of Lactoferrin from its Australia facility in the final quarter of 2019, and it was expected to be launched in the Asia Pacific region by the primary quarter of 2020. 

In August of this year, Westland Co-employable Dairy Corporation Limited was purchased through Inner Mongolia Yili Industrial Group Company Limited for $588 million. Westland Co-employable Dairy company is the second-largest dairy in New Zealand. Co-usable. Yili Group is the biggest dairy company in China.

In January of 2020, Freedom Foods announced the release of the invulnerable shot, which contains manuka nectar with Lactoferrin and vitamin C.

In October of 2020, Morinaga Milk reported that its German subsidiary, MILEI GmbH, will increase the capacity of its manufacturing facility for Lactoferrin. The current limit for Lactoferrin at MILEI will be significantly raised, and the extension is expected to be completed in April 2021.

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