PUne, India, May 24, 2021 (GLOBE NEWSWIRE) — The Global Lactoferrin Market Size was valued at USD 194.2 million in 2020 and is projected to grow at a CAGR of 6.9% during the forecast period till 2030.
Lactoferrin is a type of protein mainly found in cow and human milk. Colostrum, the first milk obtained after a baby is born, consists of high levels of lactoferrin, around seven times the amount found in milk produced later on. Lactoferrin is also found in liquids in the eye, intestine, nose, and others. People also use lactoferrin as a medicine.
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Increasing consumer awareness towards the adoption of healthy dietary practices is possible to raise the demand for superfood ingredients like lactoferrin in the upcoming years. Rising awareness about animal health and nutrition should additionally promote market development.
Around 25% of the global population suffers from anemia because of iron deficiency. Lactoferrin supplements are an enhanced and secure solution to treat anemia, as they control metabolism and iron absorption. The percentage of lactose intolerant population has been increasing, and lactose intolerance can lead to iron deficiency. Lactoferrin supplements do not contain lactose and therefore, are a feasible source of iron for lactose-intolerant customers. This is expected to drive the development of the lactoferrin market in the upcoming years.
The increasing cost of lactoferrin raises the overall price of the final products, which is likely to restrict its uses in various end-use applications. However, increasing efforts by the governments of various nations and organizations, who work for the benefits of women and infants across the world to encourage breastfeeding, may control the use of lactoferrin-based infant formula products to some extent throughout the evaluation period. Moreover, the perception among customers that the utilization of bovine lactoferrin may lead to the transmission of mad cow disease may further limit the use of lactoferrin products among customers, thereby hampering the lactoferrin market demand.
Some Noted Developments Considered in the Report:
- June 2019 – Freedom Foods declared that it would start the manufacturing of lactoferrin at its Australia plant in the last quarter of 2019 and look forward to it in the Asia Pacific region by the first quarter of 2020.
- January 2020 – Freedom Foods declared the launch of an immune shot that integrates lactoferrin with manuka honey and vitamin C.
COVID-19 Impact on Global Lactoferrin Market
The QMI team has closely monitored the impact of COVID-19 on the global lactoferrin market, and it is observed that the demand for lactoferrin has increased during the pandemic time. It is anticipated to grow at a healthy pace from mid-2021. To control the pandemic, many countries across the globe have enforced strict lockdown norms, which have hampered all kinds of business activities.
The COVID-19 pandemic is a severe global health hazard caused by severe acute respiratory syndromes of coronavirus 2 (SARS-CoV- 2). Symptoms of COVID-19 are highly variable with the usual hyperactivity of immune reaction known as a “cytokine storm”. This enormous release of inflammatory cytokines into the pulmonary alveolar structure is an important cause of mortality during COVID-19 infection.
Current management of COVID-19 is supportive, and there is no ordinary clinical protocol applicable to suppress this pathological state. Lactoferrin, an iron-binding protein, is a first-line of defense protein that exists in neutrophils and excretory fluids of all mammals and is well-accepted for its importance in the maturation and regulation of the immune system function. All these factors are mentioned and analyzed in details in this report.
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Global Lactoferrin Market, By Product
Based on products, the global lactoferrin market is segmented into apolactoferrin and hololactoferrin. Apolactoferrin is the dominating segment in the global market due to the outstanding properties displayed by it, including antimicrobial properties and the capability to prevent lipid peroxidation.
The wide availability of apolactoferrin can be justified by the fact that aplolatoferrin comprises nearly 90% of the lactoferrin found in human milk. The ability of apolactoferrin to lower the possibility of delayed-onset septicemia among newborn babies is expected to increase product demand for infant formula products and enhance the lactoferrin market outlook.
Global Lactoferrin Market, By Form
By form, the global market is segmented into capsules, powder, and others. The capsules segment is anticipated to dominate the market. Lactoferrin capsules can improve power and ability by transporting oxygen more effectively to the body parts. It increases the production of iron in blood during intensive workouts, which is likely to favor its usage on physical fitness applications and sports nutrition.
Due to health and dietary advantages offered by lactoferrin, like iron transportation and digestive comfort, and increasing customer need for organic and vegan ingredients in sports nutrition products, major players like Glanbia have moved their focus towards integrating lactoferrin as a productive ingredient in their products, thereby increasing lactoferrin market share.
Global Lactoferrin Market, By Source
By source, the global lactoferrin market is segmented into rice flour, human milk, and animal milk. The animal milk segment is further divided into bovine milk, porcine milk, caprine milk, and ovine milk. The rice flour segment is anticipated to dominate the market. The increasing utilization of rice flour for producing lactoferrin can be attributed to its availability in different regions across the world.
Rice is one of the most abundantly cultivated crops in different nations of the globe. Also, the ease of producing and processing lactoferrin from rice flour for utilization in food supplements adds to its demand among different sources utilized to produce lactoferrin. All these factors are contributing to the development of the market.
Global Lactoferrin Market, By Function
By function, the global lactoferrin market is segmented into iron absorption, anti-inflammatory, intestinal flora protection, antibacterial, immune cell stimulation, and antioxidants. The iron absorption segment is anticipated to drive the market. The iron-binding property of lactoferrin imparts a bacteriostatic effect, which promotes its use in the treatment of anemia and other disorders caused by iron deficiency. On the other hand, its ability to enhance the function of the immune system cells helps in lowering inflammatory reaction in the human body, thereby promoting the utilization of the product and market development.
Global Lactoferrin Market, By Application
By application, the global lactoferrin market is segmented into food and beverages products, infant formula, sports and functional foods, pharmaceuticals, cosmetic and personal care products, and animal feed. Infant formula is estimated to dominate the market. Lactoferrin is being frequently utilized in infant formula products due to its ability to strengthen the newborn immune system by improving anti-infective and anti-inflammatory activities and increasing iron absorption in the infant’s gut. Growing consumer awareness regarding the importance of infant health and nutrition, combined with the increasing involvement of women in the workforce, is possible to drive product demand in infant formula products.
Global Lactoferrin Market, By Distribution Channels
By distribution channels, the global lactoferrin market is segmented into supermarket/hypermarket, online, drugstore, nutrition, and health food store. The supermarket/hypermarket segment is anticipated to dominate the market. Customers will progressively prefer hypermarkets/supermarkets as a suitable medium for the purchase of lactoferrin products in the coming years due to a broad variety of product classifications available under a single roof.
Productive branding and marketing initiatives undertaken by hypermarket/supermarkets, such as raising the popularity of their products through informative circulars and leaflets, combined with the employment of health executives and lactation product specialists by hypermarkets and supermarkets to encourage the sale of lactoferrin products, should further increase the popularity of hypermarkets/supermarkets distribution channels in the market.
Global Lactoferrin Market, By Region
By region, the global lactoferrin market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia Pacific region is estimated to be the dominating region in the global market. This is mainly due to the high birth rate among the population, increasing spending capacity of people, and rising awareness about infant mortality rate and infant nutrition in the past few years. Moreover, rising consumer awareness regarding the importance of maintaining healthy, glowing skin is likely to further increase product demand from the cosmetics and personal care sector, thereby positively contributing to the regional lactoferrin market outlook.
Some Major Findings of the Global Lactoferrin Market Report Include:
- Major global market trend & forecasts analysis along with a country-specific market analysis for up to 25 countries
- In-depth global lactoferrin market analysis by the aforementioned segments along with an analysis of trend-based insights and factors.
- Profiles of the major key market players that are operating in the global lactoferrin market, which include Pharming Group NV, Synlait Milk Ltd., Metagenics Inc., MP Biomedicals, Westland Cooperative Dairy Co. Ltd., APS BioGroup, Glanbia Plc., Farbest Brands, Fonterra Cooperative Group Ltd., InVitria, Begga Cheese, Ferrin Tech LLC., and Glanbia plc.
- Competitive benchmarking, product offering details, growth strategies adopted by the leading market players, along with their major investments in the last five years
- Key impact factor analysis across regions that includes analysis, along with drivers, restraints, opportunities, and challenges that are prevailing in the global lactoferrin market
- Impact of COVID-19 on the global lactoferrin Market.
Browse key industry insights spread across 155 pages with 85 market data tables and 41 figures & charts from the report, “ Lactoferrin Market By Product (Apolactoferrin, Hololactoferrin), By Form (Capsules, Powder, Others), By Source (Rice Flour, Human Milk, Animal Milk Bovine Milk, Porcine Milk, Caprine Milk,Ovine Milk), By Function (Iron Absorption, Anti-Inflammatory, Intestinal Flora Protection, Antibacterial, Immune Cell Stimulation, Antioxidants), By Application (Food and Beverage Products, Infant Formula, Sports, and Functional Foods, Pharmaceuticals, Cosmetics &Personal Care Products, Animal Feed), By Distribution Channel (Supermarket/Hypermarket, Online, Drugstore, Nutrition &Health Food Store) -Market Size and Forecasting (2021-2030)” in-depth analysis along with the table of contents (ToC).
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