IMARC Group has recently released a new research study titled “Lactoferrin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the global lactoferrin market demand, share, drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios. The market size reached US$ 270.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 412.4 Million by 2028, exhibiting a growth rate (CAGR) of 6.8% during 2023-2028.
Industry Definition and Application:
Lactoferrin is a multifunctional protein found in mammalian milk with several immunological, antibacterial, and antiviral properties. It is commonly found in human and bovine bile, milk, saliva, tears, and mucus. It is a rich source of antioxidants that improve immunity and prevent diarrhea, viral and bacterial infections, stomach and intestinal ulcers, and hepatitis C. Additionally, lactoferrin aids in regulating iron metabolism, preventing tissue damage and cancer, and delaying physiological signs of aging, due to which it is extensively used across the pharmaceutical, nutraceutical, food and beverage (F&B), and personal care industries.
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Lactoferrin Market Trends and Drivers:
The surging health consciousness among consumers and the rising awareness regarding the benefits of lactoferrin are some of the key factors primarily driving the market growth. This is further supported by the increasing prevalence of anemia in pediatrics and adults, which, in turn, has intensified the demand for lactoferrin as a promising effective treatment with fewer side effects. Additionally, key market players are introducing lactoferrin-based infant formulas, sports nutrition products, and functional supplements to increase their consumer base, which is creating a positive outlook for the market.
Furthermore, the burgeoning product application to manufacture personal care and cosmetic products due to its anti-allergic, acne-treating, and anti-aging properties is providing a considerable thrust to the market growth. Apart from this, rising investments in research and development (R&D) activities by key players and increasing consumer expenditure power are bolstering the market growth.
Competitive Landscape:
The competitive landscape of the lactoferrin market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Bega Cheese Limited
Farbest Brands
Ferrin-Tech LLC
Fonterra Cooperative Group Ltd.
Glanbia PLC
Hoogwegt Group B.V.
Ingredia SA
Metagenics Inc. (Alticor Inc.)
MILEI GmbH (Morinaga Milk Industry Co. Ltd.)
Mp Biomedicals LLC (Valiant Co. Ltd.)
Saputo Inc.
Synlait Milk Limited
Tatura Milk Industries Ltd.
Westland Milk Products
Key Market Segmentation:
The report has segmented the global lactoferrin market based on function, application and region.
Breakup by Function:
Iron Absorption
Anti-Inflammatory
Intestinal Flora Protection
Antibacterial
Immune Cell Stimulation
Antioxidant
Others
Breakup by Application:
Food and Beverages
Infant Formula
Sports and Functional Foods
Pharmaceuticals
Personal Care Products
Others
Breakup by Region:
North America
Asia-Pacific
Europe
Latin America
Middle East and Africa
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Key Highlights of the Report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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