Product Code: RP-ID-10294060 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Chemicals |
Report ID: 10294060
Market Overview:
Lactoferrin Market, By Function (Antibacterial, Anti-inflammatory, Iron Absorption, Immune Cell Stimulation, Antioxidant, and Intestinal Flora Protection), By Application (Sports & Functional Food, Infant Formula, Pharmaceuticals, Food & Beverages, and Personal Care Products), By Geography (NA, EU, APAC, and RoW) – Analysis, Share, Trends, Size, & Forecast From 2014 – 2025
REPORT HIGHLIGHT
The Lactoferrin market was valued at USD 92.8 million by 2017, growing with 7.8% CAGR during the forecast period, 2018-2025
Market Dynamics
Lactoferrin is a type of globular protein that has gained popularity owing to its multifunctional usage. It is a nutraceutical ingredient that is known for a range of health benefits, especially in children. It is used as one of the components of infant formula owing to its significance in paediatrics.
Some of the major contribution that lactoferrin offers in terms of health are higher antioxidant activity, anti-inflammatory and iron absorption properties. The boom in the Nutraceutical industry is a key driver in the lactoferrin market. The Nutraceutical industry witnessed a growth of over 7%(2012-2017) as per an article in the Nutraceutical world website. An increased awareness about this ingredient and its application in infant formulation makes is a desirable product with exponential growth capabilities. Nutraceutical and healthcare companies are investing in R&D capabilities to develop end products using lactoferrin. One of the restraining factors for this industry is the fact that it is one of the most oversupplied ingredients. Due to its wide applications and benefits, it is commonly available, this has resulted in a price drop situation for lactoferrin.
Functional Takeaway
Based on functional benefits of lactoferrin it benefits the consumer in the following ways as Iron Absorption, Anti-inflammatory, Antibacterial, Intestinal Flora Protection, Antioxidant, Immune Cell Stimulation, etc. Based on an article published in Nutraingredients.com, 2016, the journal of Pediatrics suggested that a lower infection rate was observed in children consuming lactoferrin.
The European Food Safety Authority (EFSA) suggested that it safe for infants (between 0-6 months), to consume 1.2 gram bovine lactoferrin per day from infant formula (200 mg bovine lactoferrin /100 gram). functionality wise the antibacterial property is the major growth driver in for lactoferrin, it will witness a steady growth over the forecasted period. It’s function as an immune stimulator will also witness a significant growth in the years to come.
Application Takeaway
Application wise lactoferrin is used in Infant Formula, Food & Beverages, Pharmaceuticals, Sports & Functional Food, and Personal Care Products. Infant formula is one of the largest categories where lactoferrin finds an application. Lactoferrin is an immunity booster and antibacterial in nature, this makes it an ideal ingredient in the infant formulas. Therefore, it extremely common to see an increase in the use of lactoferrin in the infant formula industry. It is well known that cow milk contains 0.1mg/ml of lactoferrin whereas an infant may need up to 2-3mg/ml. Infant formula is the fastest growing segment revenue wise. The food and beverage industry will witness a steady growth in terms of lactoferrin usage. This is followed by its demand in sports and nutritional, pharmaceutical products as well.
Regional Takeaway
Developing countries struggle with providing healthy nutritious foods for its citizens. The governmental organizations or regulatory bodies in Asia pacific countries encourage and promote having a healthier meal plan. Therefore, there is a rise in nutraceutical formulation development in these countries thus boosting lactoferrin sales. Therefore an increasing awareness about infant health globally has created a scenario where these countries are having an increased demand for using functional ingredients such as lactoferrin in their diet. Since parents are progressively becoming concerned and aware about what they feed their kids, functional food such as this have found a place in the nutritional space. The Asia Pacific region is expected to come up with the highest CAGR when it comes to the growth of this market.
Key Vendor Takeaway
Some of the key players when it comes to lactoferrin are MP Biomedicals, Tatua Milk Industries Ltd., Ingredia SA, Farbest Brands, and Pharming Group NV. Fonterra, one of the biggest players in dairy globally also set up a lactoferrin plant in the year 2016. Fonterra has had a 11 million worth upgrade to its lactoferrin factory.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
TARGET AUDIENCE
Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies and Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY FUNCTION
Antibacterial
Anti-inflammatory
Iron Absorption
Immune Cell Stimulation
Antioxidant
Intestinal Flora Protection
MARKET, BY APPLICATION
Sports & Functional Food
Infant Formula
Pharmaceuticals
Food & Beverages
Personal Care Products
MARKET, BY REGION
North America
U.S.
Canada
Europe
Germany
France
Rest of Europe
Asia Pacific
India
China
Rest of APAC
Rest of the World
Middle East and Africa
Latin America
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