The global bovine lactoferrin market size was valued at USD 574.6 million in 2021. The market is projected to grow from USD 666.6 million in 2022 to USD 1,850.3 million by 2029, exhibiting a CAGR of 15.7% during the forecast period.
Global market conditions have been adversely affected by the COVID-19 pandemic. The leading companies’ capacity growth resulted in a decrease in the average selling price of these products.
The market size significantly decreased as a result during the pandemic. However, compared to the previous year, a sizable percentage more bovine lactoferrin was produced at this time. This is mostly because domestic and foreign markets are making these products more readily available. As more people are becoming aware of this protein’s therapeutic effectiveness in boosting immunity, certain application segments have seen an increase in demand and adoption of it.
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Drivers & Restraints-
Market Expansion will be fueled by Introduction of Cost-effective Manufacturing Methods
A small number of technology-focused businesses are currently focusing on creating a more affordable method of making these goods.
Additionally, a number of researchers are concentrating on proving this ingredient’s effectiveness for targeted drug delivery in the treatment of cancer.
Because of this and the rising number of working women in the developing nations of Asia, the Pacific, and Europe, the rate of breastfeeding is declining, which raises the demand for infant formula. The need for and acceptance of lactoferrin during the manufacture of infant formula is driving the market expansion, along with the benefits of lactoferrin in infant formula that have been demonstrated.
Regional Analysis-
In 2021, the Asia Pacific market had a value of USD 334.3 million. The rising demand for infant formula and dietary supplements among the region’s general populace is mostly to blame for the regional domination.
The region with the highest CAGR during the forecast period is expected to be Europe. One of the main drivers of the bovine lactoferrin market growth in this region is the rise in consumption of dietary supplements, nutrient-dense foods and drinks, and other products that include bovine lactoferrin. North America, on the other hand, made a considerable contribution to the market in 2021. This region is positioned to benefit from a profitable growth potential as more domestic firms concentrate on increasing lactoferrin production capacity and dietary supplement consumption among Americans.
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List of Key Players Covered in this Market Report
- MILEI GmbH (Germany)
- Bega Cheese Led, (Australia)
- Fonterra Co-operative Group (New Zealand)
- ErieslandCampina DOMO (Netherlands)
- Beston Global Food Company Ltd (Australia)
- SAVENCIA SA (France)
- Saputo Dairy Australia Pty Ltd, (Australia)
- FREEDOM FOODS GROUP LIMITED (Australia)
- Synlait Led. (New Zealand)
- Glanbia Plc, (Ireland)
- Ingredia (France)
Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Technological Advancements
- Regulatory Scenario – For Key Countries
- Pricing Analysis
- Impact of COVID-19 on the Global Bovine Lactoferrin Market
- Overview of Lactoferrin Description, Claim, Content on Packages
- Global Bovine Lactoferrin Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Freeze Dried
- Spray Dried
- Market Analysis, Insights and Forecast – By Application
- Infant Formula
- Dietary Supplements
- Pharmaceutical
- Food
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Bovine Lactoferrin Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Freeze Dried
- Spray Dried
- Market Analysis, Insights and Forecast – By Application
- Infant Formula
- Dietary Supplements
- Pharmaceutical
- Food
- Others
- Market Analysis, Insights and Forecast – By Country
- S.
- Canada
- Europe Bovine Lactoferrin Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Freeze Dried
- Spray Dried
- Market Analysis, Insights and Forecast – By Application
- Infant Formula
- Dietary Supplements
- Pharmaceutical
- Food
- Others
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- UK
- Germany
- France
- Italy
- Spain
- Scandinavia
- Rest of Europe
ToC Continue…!
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