Global Bovine Lactoferrin Market Overview
The global bovine lactoferrin market accounted for US$ 572.6 Million in 2020 and is estimated to be US$ 912.3 Million by 2029 and is anticipated to register a CAGR of 5.3%. Lactoferrin (LF), also referred to as lactotransferrin (LTF), may be a multifunctional protein of the transferrin family. Lactoferrin may be a globular glycoprotein with a molecular mass of about 80 kDa that's widely represented in various secretory fluids, like milk, saliva, tears, and nasal secretions. Lactoferrin is additionally present in secondary granules of PMN and is secreted by some acinar cells. Lactoferrin are often purified from milk or produced recombinant. Human colostrums ("first milk") have the highest concentration, followed by human milk, then cow milk (150 mg/L).
Impact of Covid-19 pandemic on market
With the outbreak of the COVID-19, various businesses are at the forefront to combat this pandemic. The pandemic has hindered the industrial supply chain and also disrupted the product segment. Government across the countries has imposed strict lockdown to limit the spread of disease. The demand for nutraceuticals & functional foods is expected to witness an upward surge owing to consumers opting for immunity boosting supplements during the COVID-19 pandemic. Furthermore, a decline in the consumption of poultry, meat and seafood products across the globe is expected to increase the demand for plant and animal-based protein supplements in the near future. This report will quantify the impact of a pandemic on the bovine lactoferrin market.
Global Bovine Lactoferrin Market Dynamics
Increasing consumption of infant formula
An increasing number of working woman has been observed globally, which has lowered the overall breastfeeding rates. For instance, according to the data published by the World Health Organization (WHO), it is estimated that only 38.0% of all infant aged between 0 to 6 months are exclusively breastfed. Emerging countries like China, India and Japan have recorded higher growth in the ratio of female to male labor force, resulting working women shifting towards the infant formula feeding to the children, rather than breastfeeding. This has led to the higher demand in these countries.
Regulatory changes
During 2016-17, some countries in North America, Europe and Latin America allowed infant formula players to manufactures and market products with added lactoferrin. This has opened new regional markets for various manufacturers. For instance, in April 2017, Synlait Ltd. Received the FDA approval to export lactoferrin to the U.S., further to be used infant and toddler formula. Thus, these changes in regulation regarding to the use of protein as an added ingredient in infant formula are instrumental in rising demand for these products in global markets. However, the high cost of lactoferrin to limit the adoption in different product might be hampering the growth of the market.
Global Bovine Lactoferrin Market Segmentation
The global bovine lactoferrin market is segmented based on product, application, and region.
On the basis of product, the global bovine lactoferrin market is segmented into spray-dried, and freeze-dried. Based on application, the target market is segmented into infant formula, pharmaceuticals, dietary supplements, food, and others.
Regional Insights:
On region the global bovine lactoferrin market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the market due to recent approval by the U.S. FDA for use of lactoferrin in infant formula. This is led to highest adoption rate as compared to the previous year. Additionally, the market in Europe accounted for a significant market share in 2019 owing to rising demand for infant formula in countries such as Germany, France, and the UK owing to rising demand for infant formula, pharmaceuticals and dietary supplements. Moreover, the market in Asia Pacific held a dominant share, due to increasing product demand and rising population across the region.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2029 |
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Market representation |
Revenue in USD Million & CAGR from 2020 – 2029 |
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Market Segmentation |
By Product: Spray-dried, and Freeze-dried By Application: Infant Formula, Pharmaceuticals, Dietary Supplements, Food, and Others |
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Delivery Mode Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global bovine lactoferrin market report based on product, application, and region.
Global Bovine Lactoferrin Market, By Product:
- Spray-dried
- Freeze-dried
Global Bovine Lactoferrin Market, By Application:
- Infant Formula
- Pharmaceuticals
- Dietary Supplements
- Food
- Others
Global AestheticCosmetic Lasers Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Bovine Lactoferrin Market Key Players
The key players operating in the global bovine lactoferrin market includes Fonterra Group, Bega Cheese, FrieslandCampina (DMV), Milei Gmbh, Glanbia Nutritionals, Westland Milk, Tatua, Synlait Milk, WBC, Murray Goulburn, and Ingredia Nutritional. The market is especially characterized by collaborations and partnerships between the businesses and acquisitions of smaller players as a part of strategic expansion as well as launching their new product specimen. For instance, In April 2018, Ingredia announced the launch of a new product in the lactoferrin space. The company introduced PROFERRIN lactoferrin in the global market. This product was intended to be used in improving gut health and to exhibit anti-microbial and anti-inflammatory properties.
Global Bovine Lactoferrin Market Company Profile
- Fonterra Group
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Bega Cheese
- FrieslandCampina (DMV)
- Milei Gmbh
- Glanbia Nutritionals
- Westland Milk
- Tatua
- Synlait Milk
- WBC
- Murray Goulburn
- Ingredia Nutritional
Global Bovine Lactoferrin Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Bovine Lactoferrin Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Bovine Lactoferrin Market, By Product, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Spray-dried
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Freeze-dried
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Bovine Lactoferrin Market, By Application, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Infant Formula
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Pharmaceuticals
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Dietary Supplements
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Food
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Bovine Lactoferrin Market, By Region, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Product, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Product, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Product, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Product, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Product, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
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- Milei Gmbh
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Fonterra Group
- Bega Cheese
- FrieslandCampina (DMV)
- Glanbia Nutritionals
- Westland Milk
- Tatua
- Synlait Milk
- WBC
- Murray Goulburn
- Ingredia Nutritional
- Milei Gmbh
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- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The global bovine lactoferrin market is segmented based on product, application, and region.
Increasing consumption of infant formula is the major factor to propel the growth of the global market.
North America dominated the market due to recent approval by the U.S. FDA for use of lactoferrin in infant formula. This is led to highest adoption rate as compared to the previous year.
Several strategic initiatives including portfolio expansions through novel product launches have been adopted by key players to maintain their presence in the market for bovine lactoferrin. For instance, In April 2018, Ingredia announced the launch of a new product in the lactoferrin space. The company introduced PROFERRIN lactoferrin in the global market. This product was intended to be used in improving gut health and to exhibit anti-microbial and anti-inflammatory properties.