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Bovine Lactoferrin Market

Analysis by Product Type (Freeze dried & milled, and Spray Dried Powder); by Application (Dietary supplements, Pharmaceuticals, Infant Formula, Food, and Others); and by Function (Immune Cell Stimulation, Iron Absorption, Antibacterial, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 4646 | Published On: Feb 27, 2023
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Global Bovine Lactoferrin Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global bovine lactoferrin market is estimated to garner a revenue of ~USD 940 million by the end of 2033 by growing at a CAGR of ~11% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 450 million in the year 2022. The growth of the market can be attributed to the worldwide proliferation of awareness regarding health, and diet among people. Furthermore, as an iron-binding protein, lactoferrin aids in treating diarrhea, hepatitis C, and intestinal ulcers. It is an ingredient that serves as an antioxidant against the wide variety of bacterial and viral infections, which have been increasing over time. Such a factor gives a notable hike to the increasing demand for bovine lactoferrin. According to the Centers for Disease Control and Prevention, in 2021, 1,899 (0.2%) of 1,081,671 samples tested positive for influenza viruses (713 (7.5%) for influenza A and 1,186 (7.5%) for influenza B) in the United States. Over the same period, 61.4% of influenza-positive samples were influenza A, while 38.6% were of influenza B. Thus, the rising prevalence of various virus spreads is estimated to fuel the global bovine lactoferrin market throughout the forecast period.

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In addition to these, factors that are believed to fuel the market growth of bovine lactoferrin include the worldwide rise in the demand for convenient feeding, which has pushed the demand for nutrient-rich supplements and milk as infant food among working mothers across the globe. Additionally, the rising use of lactoferrin to treat the low ratio of iron in pregnant women is another significant factor that is boosting market growth. Furthermore, bovine lactoferrin consists of outstanding anti-inflammatory, antiviral, anti-parasitic, anti-bacterial, and anti-allergic properties, which make it a preferred substance to be used in the pharmaceutical sector, personal care, and hygiene products. For instance, it was observed in a clinical study that the ability of lactoferrin to mitigate adversely charged microbial molecules, such as LPS, makes an important contribution to its anti-inflammatory properties during bacterial infection. Therefore, it blocks the interaction of the LPS-binding protein with the endotoxin and blocks the adhesion of LPS with the membrane protein CD14, which in turn prevents the activation of monocytes and macrophages.


Bovine-Lactoferrin-Market-overview
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Global Bovine Lactoferrin Market: Key Insights
cscs

Base Year

2022

Forecast Year

2023-2033

CAGR

~11%

Base Year Market Size (2022)

~ USD 450 Million

Forecast Year Market Size (2033)

~ USD 940 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)


Global Bovine Lactoferrin Market: Growth Drivers and Challenges

Growth Drivers

  • Worldwide Growing Demand for Dietary Supplements - Dietary supplements are additives that are used to supplement our diet with essential nutrients or to reduce the risk of certain health problems. Dietary supplements are a wholesome package of various types of vitamins, minerals, amino acids, and enzymes. As they provide a decent amount of nutrition, people are vastly consuming these dietary supplements to cater to their nutritional requirements. Moreover, bovine lactoferrin provides important nutrients to the human body, and is used in the dietary supplements that are anticipated to drive the market’s growth. For instance, around 40% to 56% of adults in developed nations use dietary supplements.

  • Global Surge in Peptic Ulcer Disease – Peptic ulcer disorder, commonly known as stomach or duodenal ulcers, is generally caused by microorganisms or excessive use of conventional painkillers. It is a rough or open sore in the lining of the stomach (gastric) or the upper section of the small intestine. A huge number of people have been suffering from peptic ulcer disorder across the globe. Furthermore, bovine lactoferrin improves the effectiveness of some of the medications for the treatment of ulcer diseases, and it is expected to boost the growth of the market. For instance, in 2019, the worldwide prevalence of peptic ulcer disease (PUD) increased by nearly 9 million.

  • Significantly Increasing Prevalence of Neonatal Infections – Neonatal infections are infections that a newborn develops during pregnancy or in the first four weeks after birth. Neonatal infections can pass from mother to child, originate in the birth canal while giving birth, or develop after delivery. While some newborn infections develop right away after childbirth, others can develop months or even years later. Preterm or low birth weight neonates have a higher chance of getting the neonatal infection. A serious concern about neonatal infection is estimated to boost market growth during the forecast period. As per the data provided by the World Health Organization, every year, across the globe, over 550 000 neonatal deaths are caused by neonatal infections.

  • Worldwide Increasing Ratio of Acne Issue – Lactoferrin restrict the growth of acne owing to its antioxidant properties. Henve, it is projected to drive the market’s growth. For instance, up to 58 million individuals in the United States experience acne each year, making it the most prevalent skin condition in the country.

  • Escalating the Pharmaceutical Industry - For instance, as of November 2021, the pharmaceutical industry in the United States was valued at approximately USD 2.8 trillion, whereas the figure in China was approximately USD 848 billion.

Challenges

  • Extreme Price of Lactoferrin – Despite the rising demand for lactoferrin in various infant formulas, personal hygiene products, and dietary supplements; the extremely high price of products that contain bovine lactoferrin is anticipated to slash market growth. The higher price density depends on the purity factor. The higher proportion of purity raises its price around 2 times to 5 times higher. Thus, this significant factor is anticipated to hinder the market growth of bovine lactoferrin over the projected time frame.
  • Growing Initiatives by the Governments of Nations to Promote Breastfeeding
  • Fluctuating Prices of Lactoferrin


Market Segmentation

The global bovine lactoferrin market is segmented and analyzed for demand and supply by function into immune cell stimulation, iron absorption, antibacterial, and others. Out of these segments, the iron absorption segment is estimated to bolster market growth over the forecast period. The growth of the segment can be attributed to its outstanding benefits for anemic people, and pregnant women. Since lactoferrin is a good source to reduce iron deficiency, a huge ratio of individuals, especially children and pregnant women have a high requirement for iron to tackle the anemic issue. As the prevalence of anemia is increasing throughout the world, thus this factor is estimated to drive the growth of the global bovine lactoferrin market. As per the statics released by the World Health Organization (WHO), presently, anemia has been affecting 42% of children under the age of 5 and 40% of pregnant women across the globe.

The global bovine lactoferrin market is also segmented and analyzed for demand and supply by product type into freeze-dried & milled, and spray-dried powder. Out of these two segments, the freeze-dried & milled segment is estimated to grasp the largest market size during the forecast period backed by the high proportion of antioxidant properties, extensive shelf-life, and higher iron binding potential. On the other hand, the spray-dried powder segment is projected to witness a notable CAGR over the coming years, on the back of certain associated benefits, such as scalable, manageable particle procedures. Furthermore, the low cost of spray-dried powder is suitable for vast applications including infant formula milk, which is another notable factor estimated to act as an advantageous opportunity to propel the market growth of bovine lactoferrin in the coming years.

Our in-depth analysis of the global bovine lactoferrin market includes the following segments:

       By Product Type

  • Freeze Dried & Milled
  • Spray Dried Powder

 

     By Application

  • Dietary Supplements
  • Pharmaceuticals
  • Infant Formula
  • Food

Others

 

      By Function

  • Immune Cell Stimulation
  • Iron Absorption
  • Antibacterial
  • Others


Global Bovine Lactoferrin Market Regional Synopsis

The North American bovine lactoferrin market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the massively increasing consumption of dietary supplements in the region, backed by surging awareness regarding fitness and health among individuals. For instance, till 2019, approximately 75% of adults in the United States were consuming dietary supplements. Further, the presence of major manufacturers of bovine lactoferrin, who are prominently influencing the market in the region. In addition, an increase in the clinical trials, coupled with increasing usage of infant formula as of the recent approval by the FDA, and a significant boost in the ratio of specialty stores are some added factors that are projected to drive the market growth further throughout the projected time frame in the region.

Furthermore, the Asia Pacific bovine lactoferrin market is estimated to display notable market growth by the end of 2033. The dynamically growing demand for infant formula as a result of the decreasing breastfeeding ratio, followed by the rising demand for dietary supplements to gain an increased amount of nutritional benefit among the people of this region, can be attributed to the market's growth. For instance, next to the United States, Asia is the region with the highest supplement usage, as nearly 45% of Asians claimed that they have been consuming dietary supplements.

Bovine-Lactoferrin-Market-share

Bovine-Lactoferrin-Market-share
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Top Featured Companies Dominating the Global Bovine Lactoferrin Market

    • Fonterra Co-operative Group Limited
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Glanbia plc
    • Jarrow Formulas, Inc.
    • MILEI GmbH
    • Beston Global Food Company Ltd
    • Morinaga Co., Ltd.
    • Noumi Limited
    • Saputo Inc.
    • Bega Cheese Limited
    • NutriScience Innovations, LLC
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Ardelyx, Inc.
  • Astellas Pharma Inc.
  • AstraZeneca
  • GlaxoSmithKline Plc
  • Johnson & Johnson Services, Inc.
  • Novartis AG
  • Ironwood Pharmaceuticals, Inc.
  • Synergy Pharma Consultancy Private Limited
  • Synthetic Biologics, Inc
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In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

Request Insights
Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the bovine lactoferrin market?

Ans: Worldwide growing demand for dietary supplements, global surge in peptic ulcer disease, and significantly increasing prevalence of neonatal infections are some major factors driving the growth of the market

2) What would be the CAGR of bovine lactoferrin market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~11% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the bovine lactoferrin market growth?

Ans: Extreme price of lactoferrin, growing initiatives by the governments of nations to promote breastfeeding, and fluctuating prices of lactoferrin are estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of bovine lactoferrin market in future?

Ans: The market in the North American region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the bovine lactoferrin market?

Ans: The major players in the market are Fonterra Co-operative Group Limited, Glanbia plc, Jarrow Formulas, Inc., MILEI GmbH, Beston Global Food Company Ltd, Morinaga Co., Ltd., Noumi Limited, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the bovine lactoferrin market?

Ans: The market is segmented by product type, application, function, and by region.

8) Which segment captures the largest market size in function segment in the bovine lactoferrin market?

Ans: The iron absorption segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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