According to the latest report by IMARC Group, titled “Lactoferrin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global lactoferrin market size reached US$ 270.2 Million in 2022. Lactoferrin is a multifunctional protein mainly found in milk and other body fluids. It can bind and transport iron, which is essential for performing various physiological functions in the body. It is a rich source of antioxidants that assists in enhancing immune response regulation and iron metabolism in the body. As it prevents the growth of harmful bacteria and viruses, the demand for lactoferrin is increasing across the globe.
Global Lactoferrin Market Trends:
At present, the rising awareness among individuals about maintaining a healthy lifestyle represents one of the key factors supporting the growth of the market. Besides this, the growing demand for lactoferrin due to the increasing preference for functional foods and dietary supplements is offering a favorable market outlook. Moreover, the rising utilization of lactoferrin, as it improves gut health and enhances iron absorption in the body, is impelling the growth of the market. In line with this, the rising prevalence of various chronic diseases, such as cancer, gastrointestinal disorders, and immune-related conditions, among the masses around the world is providing lucrative growth opportunities to industry players. Apart from this, the increasing adoption of lactoferrin, as it aids in reducing inflammation and inhibiting tumor growth, is strengthening the growth of the market. In addition, rising utilization in the manufacturing of cosmetic and personal care products to prevent allergies and treat acne is propelling the growth of the market. Looking forward, the market value is projected to reach US$ 412.4 Million by 2028, expanding at a CAGR of 6.8% during 2023-2028.
- Based on the function, the market has been classified into iron absorption, anti-inflammatory, intestinal flora protection, antibacterial, immune cell stimulation, antioxidant, and others. At present, iron absorption dominates the market, holding the largest share.
- On the basis of the application, the market has been segregated into food and beverages, infant formula, sports and functional foods, pharmaceuticals, personal care products, and others. Presently, infant formula represents the largest segment.
- Region-wise, the market has been segmented into North America (United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being Bega Cheese Limited, Farbest Brands, Ferrin-Tech LLC, Fonterra Cooperative Group Ltd., Glanbia PLC, Hoogwegt Group B.V., Ingredia SA, Metagenics Inc. (Alticor Inc.), MILEI GmbH (Morinaga Milk Industry Co. Ltd.), Mp Biomedicals LLC (Valiant Co. Ltd.), Saputo Inc., Synlait Milk Limited, Tatura Milk Industries Ltd., and Westland Milk Products.
|Base Year of the Analysis
||Function, Application, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Bega Cheese Limited, Farbest Brands, Ferrin-Tech LLC, Fonterra Cooperative Group Ltd., Glanbia PLC, Hoogwegt Group B.V., Ingredia SA, Metagenics Inc. (Alticor Inc.), MILEI GmbH (Morinaga Milk Industry Co. Ltd.), Mp Biomedicals LLC (Valiant Co. Ltd.), Saputo Inc., Synlait Milk Limited, Tatura Milk Industries Ltd. and Westland Milk Products
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