Colostrum is the pre-milk produced by the mother of any mammal species which is rich in natural immunity promoting agents essential for the growth of neonates. Colostrum is produced by various species, primarily bovine, and is collected after feeding the new-born. It is then formulated into various products capable of boosting immunity and gut health as a nutraceutical product or cosmeceutical product.
The North America & Europe colostrum market together reached USD 985.37 million in 2019 and is expected to reach USD 1,475.22 million by 2028, by registering a CAGR of 4.58%, during the forecast period, i.e., 2021-2028. This is primarily attributed to the growing demand for various consumer health & nutraceutical products across the regions.
Additionally, The North America & Europe colostrum market are expected to reach a value of USD 855.39 million & USD 619.82 million by the year 2028 respectively. The colostrum market is gaining attraction on the back of the launch of new, advanced, and cost-effective products in the market, accompanied with the rising health concerns. Moreover, upsurge in the number of working women population and their increasing purchasing capacity, have resulted in the increasing adoption of nutraceutical and personal care products. This factor is anticipated to create significant opportunities for the colostrum market during the forecast period. Besides, increasing disposable income across the countries are also projected to drive the demand for colostrum products subsequently in the near future.
Regional Growth Highlights during 2018–2028
North America had a significant market share in the year 2019 and is expected to dominate the market, over the forecast period. The growth in the region can be attributed to the increase in investments towards healthcare from the government and private entities to maintain the highest quality of care offered in healthcare facilities. The US is the major country driving the growth in the region, reaching a market value of USD 484.60 million in 2019 and is expected to grow at a CAGR of 5.08% over the forecast period. The growth in the country can be attributed to the rising adoption of innovative colostrum formulations.
Europe is expected to reach a market size of USD 619.82 million by 2028. It has been observed that with the availability of consumer health products, there has been a rise in the demand for effective colostrum products in the region for improving overall immune health for adults and infants. Primarily driven by the demand from Germany, UK, France & Italy, the colostrum market in the region is expected to showcase a high demand over the forecast period.
Market Segmentation Synopsis
By Product Type
According to the segmentation by product type, the market is segmented into whole colostrum, skim colostrum and specialty colostrum. Out of these the whole colostrum products are presently generating the highest demand. This segment is expected to capture a market size of around USD 675 million in the year 2020 and is anticipated to witness highest growth throughout the forecast period owing to its increasing acceptance among the customers as it helps in boosting the muscle strength and immunity. Moreover, the segment also recorded the largest market share of 66.19% in the year 2018.
The whole colostrum powder is usually obtained after drying the colostrum. The whole colostrum accounts for the largest share in the colostrum market owing to its increasing acceptance among the customers. The whole colostrum helps in boosting the muscle strength as well as immunity. Additionally, the increasing use of whole colostrum in sports nutrition is projected to create a surge in demand for the product, which in turn will accelerate the market growth. For instance, the ColoDan whole colostrum by Roche has high concentration of protein which is further anticipated to raise the demand for the product. CLICK TO DOWNLOAD FREE SAMPLE
According to the segmentation by sources, the market is segmented into bovine, human and others. Out of these the bovine colostrum products are presently generating the highest demand capturing a market size of USD 851.17 million in the year 2019 and is expected to grow at a CAGR of 4.82% over the forecast period. The segment also registered the largest market share of 86.38% in the year 2019.
Bovine colostrum market has witnessed significant growth in the recent years owing to its immune boosting properties that helps to fight disease-causing agents. Additionally, the increasing use of bovine colostrum in sports nutrition is also anticipated to raise the demand for the product, thus contributing to the growth of the market.
On the basis of form, the market is segmented into cosmetic & nutraceutical segments. The nutraceutical products are more commonly sold and is further divided into colostrum powder, liquid colostrum, and capsule/tablets out of which colostrum powder products are capturing the largest market with USD 485.45 million in 2019. This segment is expected to grow with a CAGR of 4.24% over the forecast period.
Colostrum powder food supplements usually are of the highest quality. They are enriched with vitamin D and prebiotics to support the immune system. In airtight package, this powder could be preserved at dry and cool place up to two years. Colostrum powder can be implemented successfully for flavoring different foods.
On the basis of applications, the market is segmented into gut health, boosting immunity, bone health, hyperlipidemia conditions, teeth health, intensive skin hydration & wrinkle reduction and others (nourishment, bowel regulation & others) out of which the application for boosting immunity segment is generating the highest demand and is expected to capture a market of USD 683.96 million by the year 2028 and is expected to grow with a CAGR of 4.74%. Moreover, the segment also registered the largest market share of 45.66% in the year 2018.
Various government and non-governmental bodies are taking up extensive initiatives to support strong immune health in children as well as in adults. The increasing concern towards immunity tends to increase the demand for colostrum products. Colostrum contains a component called PRPs (Proline-rich Polypeptides) which have been shown to regulate immune response. Colostral PRPs and cytokines can help modulate the body's overly aggressive inflammatory responses and help lessen inflammation.
By Distribution Channel
On the basis of distribution channel, the market is segmented into online & offline channels. The colostrum products are more commonly sold through the offline sales channels. The online segment is expected to grow with a higher rate over the forecast period with a CAGR of 5.40% while capturing a market size of USD 226.52 million in the year 2019. The online distribution channel is expected to grow at a significant CAGR in the forthcoming years. Influenced by the significant advancements in E-commerce, the concept of online pharmacies is expected to rise in the future.
On the basis of end user, the market is segmented into adult, infant and animal feed (products for cattle) out of which the adult segment is capturing the largest market. The adult segment is further divided into sports nutrition, enteral nutrition, dietary supplements and pharmaceutical preparations out of which the segment for enteral nutrition is capturing the largest market and is expected to grow with a CAGR of 4.28% over the forecast period.
According to the World Bank, population aged 15-64 increased from 4.86 Billion in 2016 to 4.96 Billion in 2018. Increasing awareness in the adult population regarding vitamin and mineral deficiencies with increasing age is propelling the market growth extensively. Increasing emphasis on sports and body fitness accompanied with growing population getting prompted by social media fitness influencers is envisaged to drive the demand for fitness supplements. Moreover, increasing adoption of physical fitness regimes for physical as well as maintaining emotional balance is leading to an increased adoption of milk-based fitness and nutrition powders. Increasing uptake of supplements for hair and skin health accompanied with growing preference for maintaining skin health among female population is anticipated to showcase a high demand for colostrum products for skin care applications in the near future.
Market Drivers & Challenges
Increasing Use of Colostrum Powder in Medical Nutrition Food
Rising geriatric population across the world and the concern for nutrients deficiency with the growing age is raising the need for the consumption of nutritional foods that are enriched with protein, vitamins and other. Colostrum is widely used in medical nutrition food owing to the numerous nutritional benefits of colostrum. Consumption of such medical nutritional food with the presence of colostrum powder establishes better immune system and health care of geriatric population.
On the other hand, the escalating intake of colostrum products by infants and geriatric populations, enrich their daily diet with added health benefits for living better and healthier life. Medical nutritional foods are also preferred for diabetic patients, and for the patients with other health disorders, especially those with severe illnesses. These foods are necessary and beneficiary for pregnant women as well.
Colostrum products are known to improve immunity and the consumption of colostrum products ensure the intake of vital nutrients or supplements, such as protein, carbohydrates, vitamins, and minerals. These diet-packed food products are recommended by health professionals such as physicians, and doctors. The usage of colostrum in several medical nutritional foods can improve the immunity of a children suffering from HIV/AIDS and immune deficiency-related disorders.
Growing Demand From An Expanding Health-Conscious Consumer Base And Increasing Internet Penetration
Major factors such as rising health concerns, growth of key demographics, rising urbanization, and increasing consumer desire to lead a healthy life and avoid dependence on synthetic drugs are estimated to drive the growth of the colostrum market. Consumers are increasingly becoming conscious of balanced nutrition and preventive healthcare.
Moreover, rising internet penetration rates in developing countries is additionally influencing the growth of the market positively. Recent trends in various countries has displayed increasing inclination of consumers towards the use of internet in order to get health information and aid with health-related decision making. Rise in the number of online retailers promoting products with information online is further attributed to propel the market subsequently.
Increasing disposable income and GDP of the countries
GDP increase is associated with changes towards food consumption patterns. Under the current scenario, people are eagerly opting for quality living with high nutrient food consumption, efficient health care and other quality services.
Increasing disposable income is naturally leading to the growth in consumption of healthy diet necessary for healthy living. Increasing disposable income per household is influencing the growth of the market positively.
Strict government regulations
Increasing regulations and complicated testing regimes on colostrum products acts a restraining factor for the major players operating in colostrum market. The testing of these products include definition, categorization for their approval in various countries.
Stringent Entry Barriers and Impact of Covid-19
On account of the requirement for high investment, followed by the stringent regulatory approval process that are unique for individual countries, the scope of new entrants or local players in this market is presently limited.
Covid-19 is another major factor that acts as a restraining factor for the growth of the market. Increasing incidence of corona virus disease among the global population led to the lockdown of every industry which effects the supply chain of nutraceutical industry.
Some of the prominent industry leaders in the North America & Europe colostrum market are PanTheryx, SwissBioColostrum AG, Biotaris B.V., Ingredia Nutritional, Colostrum BioTec GmbH, Biogena GmbH & Co KG, The Saskatoon Colostrum Company and Sterling Technology.
Market players are collaborating with each other to increase their revenue and expand product portfolio. For an instance, PanTheryx wholly owned subsidiary, named APS BioGroup signed an agreement with VitaDairy, a Vietnamese nutritional dairy company with an aim to improve the health status of Vietnamese people, particularly Vietnamese children.
Extensive advertising campaigns with attractive slogans and product endorsements by medical practitioners, sportspersons and celebrities highlighting the nutritional value of the product, also help in efficiently improving the brand recognition in the market.
Although colostrum from other animal sources and human sources are also utilized, the market is primarily driven by the rising demand for cow colostrum as a raw material for processed colostrum products.
On account of this, manufacturers are increasingly collaborating with local sources for raw material procurement to promote overall community growth along with a heavy reliance on commercial scale dairy farms producing high yield per animal.
Increasing demand for demand for immunity boosting products and the rising awareness for nutritional foods are some of the major factors that are driving the growth of the market.
The market is anticipated to attain a CAGR of 4.58% over the forecast period, i.e. 2021-2028.
The major players in the market are PanTheryx, SwissBioColostrum AG, Biotaris B.V., Ingredia Nutritional, Colostrum BioTec GmbH, Biogena GmbH & Co KG, The Saskatoon Colostrum Company, and Sterling Technology.
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.
The market is majorly segmented by product type, source, form, application, distribution channel, end-user, and by countries.
The whole colostrum segment, which is a sub-segment of the product type segment, held the largest market share of 66.19% in the year 2018 and is anticipated to display significant growth opportunity.
Complicated testing regimes on colostrum products is one of the major factors anticipated to act as a barrier towards the growth of the North America & Europe colostrum market.
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