Global lactoferrin markets were valued at USD 219.2 millions in 2020. This market is forecast to grow at an 8.2% compound annual growth rate (CAGR). Consumer awareness about diet and health, as well as the increasing prevalence of skin-related conditions, will drive demand. The antiviral, antibacterial and antiparasitic properties and properties of lactoferrin are expected to increase the demand for products from the pharmaceutical and personal-care industries. The American Academy of Dermatology states that acne is the most common skin condition in America, with over 40 million to 50 million Americans suffering from it each year. Also, the market for acne treatment is expected to grow during this forecast period.
Numerous clinical studies show that lactoferrin can effectively treat acne and other skin conditions. Lactoferrin is an anti-inflammatory agent that neutralizes the major food source of pathogens. The World Health Organization (WHO) reports that 50% of women and 42% of men have experienced acne in their twenties. 35% of women and 20% of men had acne in their thirties. 26% and 12% respectively reported having acne in their forties. 15% and 7% reported having acne in their fifties. Proven testimonials and research findings on lactoferrin-induced skin treatment will drive product manufacturers to grow over the forecast period.
Global personal care is a multibillion dollar industry. There is an increasing shift from brick-and mortar stores to specialty and internet stores. All age groups of women prefer cross-channel purchasing. They can visit online portals to learn more about the product and then purchase from an offline retailer. Brand owners' product marketing efforts will increase consumer awareness and encourage organic products that are more efficient, with fewer side effects.
Lactoferrin can be used to reduce dermal immune responses and heal wounds. It stimulates connective tissue with epidermal cell by regenerating skin. Because of its soothing effects on inflammations, it prevents the development of cysts and larger zits. Clinical trials have shown that lactoferrin is also effective in treating and preventing gastrointestinal inflammation. The market is expected to grow due to increased consumer awareness about gut health and the growing demand for products to prevent irritable stool movement and bloating, as well as the rising demand for products to reduce intestinal inflammation.
To meet the changing demands of consumers, manufacturers are focusing on understanding their buying habits. Companies are investing in packaging and ingredients up-gradation depending on whether they are purchasing from a club warehouse, specialty store or online portal. Organic products with a smaller carbon footprint are more popular among consumers. Experiments and research further reinforce the benefits of lactoferrin in a variety of applications, which will drive its demand over the coming years.
Lactoferrin has anti-inflammatory properties that may be important in the pathophysiology for cases regarding COVID-19. The inability to find a cure or vaccine for the disease prompted a demand for immune boosters. The popularity of preventive measures against COVID 19 has increased around the globe, which resulted in a higher demand for lactoferrin products in 2020.
After the outbreak of COVID-19, there was a huge demand for infant formulas made from lactoferrin. These products are widely accepted due to their antiviral properties. This drove this demand. Jatenergy Ltd., an Australian firm, announced a rise in sales of dairy-based infant nutrition products that contain lactoferrin. In March, the company had a record monthly sales of USD 5.4 millions. However, sales declined in the second quarter, but they were still high compared to previous years.
Iron absorption segment had the largest revenue share at more than 29% in 2020. It is expected to continue its lead position for the next forecast period. Anemia is a condition that results from iron deficiency. It affects around 30% of the world's population. Anemia can be treated with lactoferrin. Its high bioavailability and ability to increase serum iron levels five times makes it a great option.
The WHO estimates that anemia affects more than 1.62 billion people worldwide. 47.4% of those affected are pre-schoolers. Lactoferrin, a novel treatment for anemia, is well-known to be part the transferrin family. It regulates levels of iron in the body and increases hemoglobin levels by increasing iron binding ability.
In 2020, the antibacterial functionality segment was second in revenue. Segment growth is expected to be driven by the product's ability to inhibit bacterial growth, biofilm formation and other factors. It has been observed that pharmaceutical companies are increasingly using lactoferrin in antimicrobial and antibacterial products. This will help the segment grow.
Post-COVID-19 the global population is more aware of their immune system and how it controls infection intensity and effects on their bodies. In the next few years, there will be a significant increase in demand for lactoferrin to support immune cell simulation functions.
In 2020, the infant formula segment accounted for more than 38% of total revenue. It will continue to grow at a steady CAGR between 2021 and 2028. Due to an increase in clinical studies supporting infant formula integration, lactoferrin, and changing consumer attitudes towards infant supplementary food, the demand for infant formula is expected to rise. Due to their high disposable incomes, hectic work schedules and increasing incidences of iron deficiencies among infants, the demand for infant nutrition comes mainly from the developed countries.
Personal care products are expected to experience the fastest CAGR over the forecast period. The personal care product market is experiencing a boom due to its emollient properties and ability to reduce inflammation. It works by inhibiting the production cytokine mediators which cause inflammation. One of the greatest advantages of lactoferrin is its potential use as an anti-cancer and non-toxic agent.
Asia Pacific was the largest regional market for 2020, with a revenue share greater than 42%. It is expected that the regional market will maintain its position during the forecast period. The growth of the region's market can be attributed to India, China, Japan and the rising spending power of consumers. Asia Pacific has many small and medium-sized businesses, which is a rarity in other regions. Market growth is expected to be driven by increasing literacy rates and consumer awareness about infant nutrition, personal care and pharmaceutical products, as well as consumer inclination towards organic products.
In 2020, North America was the second largest regional market. The largest market in the region was the U.S. Product demand has increased across the country due to rising incidences of digestive problems. Market growth is expected to be boosted by a rise of hypermarkets, specialty stores, supermarkets, as well as incentivized marketing systems that brand owners use to increase their sales.
This market is extremely fragmented, and it is dominated by small and medium-sized businesses. This is due to the logistical indifference of dairy producers from different countries. Dairy Products must reach the plant on time. This creates a gap between the producers and small and medium-sized businesses that take advantage of local dairy to meet their production schedule.
Distribution of final products will be affected by factors such as the size of the territory, competition intensity, labor availability, and development in local logistical infrastructure. Many companies directly engage in retailing via online shopping platforms, hypermarkets and supermarkets, as well as local convenience stores. The following are some of the major players in the global market for lactoferrin:
Hilmar Cheese Company
Pharming Group NV
Synlait Milk Ltd.
Tatura Milk Industries Ltd.
Fonterra Cooperative Group Ltd.
Up Market Research published a new report titled “Lactoferrin Market research report which is segmented by Application (Infant Formula, Personal Care Products), by Function (Intestinal Flora Protection, Iron Absorption), By Players/Companies Farbest Brands, Milei GmbH, Glanbia plc, Ingredia SA, Hilmar Cheese Company, Synlait Milk Ltd, Fonterra Cooperative Group Ltd, ProHealth, Ferrin-tech LLC, MP Biomedicals, Pharming Group NV, Tatura Milk Industries Ltd, FrieslandCampina, InVitria, APS BioGroup”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Lactoferrin Market Research Report|
|By Application||Infant Formula, Personal Care Products|
|By Function||Intestinal Flora Protection, Iron Absorption|
|By Companies||Farbest Brands, Milei GmbH, Glanbia plc, Ingredia SA, Hilmar Cheese Company, Synlait Milk Ltd, Fonterra Cooperative Group Ltd, ProHealth, Ferrin-tech LLC, MP Biomedicals, Pharming Group NV, Tatura Milk Industries Ltd, FrieslandCampina, InVitria, APS BioGroup|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||203|
|Number of Tables & Figures||143|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Infant Formula, Personal Care Products), by Function (Intestinal Flora Protection, Iron Absorption).
Lactoferrin Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Lactoferrin Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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