Global Lactoferrin Market Overview
Lactoferrin is best known for fighting infections. Lactoferrin have anticarcinogenic properties and correspondingly runs anti-bacterial bustle to human infants. The growing infections have elevated the demand for lactoferrin in the global market. The lactoferrin market is expected to grow at a single-digit CAGR. Lactoferrin functions as an immune-modulator and antimicrobial protein, helps mature the gastrointestinal and immune system in new-borns, quandaries to DNA and other molecules in milk like casein, IgA, albumin, etc. The market is anticipated to showcase significant growth in the forecast period due to the rising demand for multifunctional protein across the regions.
The multifunctional protein eliminates any content, which is responsible for stimulating bacterial activity and helps to separate the iron, which is free in the body and is expected to drive the lactoferrin market. Exclusively responsible for prevention and curing of infectious diseases, makes lactoferrin widespread in the healthcare sector. This factor is expected to rocket the global lactoferrin market over the forecast period.
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Global Lactoferrin Market Dynamics
Cumulative Norm of Lactoferrin in Infant Formula to Drive Growth
Over the forecast period, cutting-edge infant milk formulae, lactoferrin is one of the utmost valued additives which is a foremost driver for global lactoferrin market. Lactoferrin is one of the most protuberant proteins in breast milk and breastfeeding is the best food for new-borns, which has been expansively accepted globally. Across the world, lactoferrin’s bovine version has been legal for insertion in infant formulae and is being largely used in the alimentary product preparations for infants. This is expected to boost the global lactoferrin market over the forecast period.
Moreover, the rising birth rate has led to an expansion in demand for infant formula-based products. According to the Population Reference Bureau, the world population in 2018 is 7.6 billion and is estimated to increase to 9.8 billion by 2050, which is a key driver for the rise in demand for lactoferrin. The introduction of the two-child policy in China since 1 January, 2016 has further fuelled demand for lactoferrin-based products in the country.
Prevalence of Online Shopping Sites
Rising use of modern technology and social sites is propelling the use of online shopping of lactoferrin-based infant formula in the developed and developing countries. In developed countries, online sales of lactoferrin-based infant formula have increased as compared to offline sales. Working mothers are an obvious area of focus of the e-commerce marketers in the lactoferrin market. Sale of lactoferrin-based infant formula products over the online shopping sites provides customers with a convenient option to purchase and choose from a wide variety of lactoferrin-based infant formula products in much lesser time and thus acts as a price differentiator for non-premium consumers.
Increasing Lifestyle Diseases
In the recent past, there has been a stable upsurge in occurrences of lifestyle ailments such as diabetes, obesity and high blood pressure due to changing lifestyle patterns and chaotic schedules. Thus, consumers are taking preventive measures for reducing the effects of lifestyle diseases. Hence, lactoferrin should be consumed to prevent and reduce the effects of such diseases. This is expected to propel the growth of the global lactoferrin market.
Global Lactoferrin Market Segmentation
The global Lactoferrin market can be segmented on the basis of source as:
- Cow Milk
- Goat Milk
- Other Product Types
The global Lactoferrin market can be segmented on the basis of grade as:
- Food Grade
- Pharmaceutical Grade
The global Lactoferrin market can be segmented on the basis of end-use industry as:
- Food & Beverages
- Infant Nutrition
- Sports & Functional Supplements
- Pharmaceutical Industry
- Animal Feed
- Personal Care & Cosmetics
The global Lactoferrin market can be segmented on the basis of the geographical region as:
- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia
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Global Lactoferrin Market Regional Overview
Demand for premium lactoferrin-based products is gaining popularity in North America, due to rising consumer awareness about high-quality lactoferrin-based products available in the market. More specialized lactoferrin-based products are also becoming increasingly available, particularly in Argentina and Mexico.
The trend of production expansion by lactoferrin manufacturers has gained popularity in Europe over the past few years. Increasing adoption of infant formula as a breast milk substitute is a prominent factor anticipated to fuel demand for baby foods in major countries such as the Asia Pacific, including India, China and Australia, among others, over the forecast period.
Consumer buying decision for any particular lactoferrin-based products in the MEA region is influenced by suggestions from physicians, pediatricians and pharmacists. In certain countries, such as Yemen, lactoferrin-based products are only sold on a doctor’s prescription.
Global Lactoferrin Market Key Players
Some of the key market participants in the global Lactoferrin market are:
- Ferrin-Tech, LLC
- Glanbia plc
- Fonterra Co-operative Group
- Ingredia Nutritional
- Synlait Milk Ltd.
- Kerry Inc.
- Farbest Brands
- MP Biomedicals, LLC.
- Tatura Milk Industries Ltd.
- Bega Bionutrients
- Other prominent players
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