Lactoferrin Market Share, Size, Trends, Industry Analysis Report, By Application (Food & Beverages, Infant Formula, Sports & Functional Food, Pharmaceuticals, Personal Care Products); By Function; By Region; Segment Forecast, 2021 - 2028
- Published Date:Sep-2021
- Pages: 120
- Format: PDF
- Report ID: PM1981
- Base Year: 2020
- Historical Data: 2016-2019
Report Outlook
The global lactoferrin market was valued at USD 219.4 million in 2020 and is expected to grow at a CAGR of 8.1% during the forecast period. The more excellent consumer knowledge of healthy dietary practices, rising incidences of bacterial infection, and an increasing number of skin-related health issues contribute to the growth of the global market over the coming years.
The research report offers a quantitative and qualitative analysis of the lactoferrin market to enable effective decision-making. It covers the key trends and growth opportunities anticipated to have a favorable impact on the market. Besides, the study covers segment and regional revenue forecasts for market assessment.
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Increasing public awareness of animal health and nutrition will further aid market expansion. Furthermore, the use of lactoferrin in the food and beverage industries is expected to drive the industry forward during the forecast period.
There is increasing use of lactoferrin in infant formulations to improve the overall health of the babies. According to a recent WHO report, only 28% of infants are breastfed globally, which has resulted in the deficiency of various nutrients in infants. Hence, infant formulations contain healthy and nutritional supplements such as lactoferrin which is expected to contribute to the upward growth of the lactoferrin market.
The emergence of COVID-19 is expected to have a negligible impact on the growth of the global market as the demand for cosmetic products has not reduced even during the pandemic period since many companies are supplying their products through e-commerce platforms. People are also consuming healthy food supplements to boost their immune systems, and all these factors favor the growth of this lactoferrin market.
Industry Dynamics
Growth Drivers
The increasing consumption of cosmetics products all over the globe and the awareness about the medicinal benefits of such products, along with the application of lactoferrin in infant formulations, is expected to drive the growth of the market for lactoferrin further.
Lactoferrin possesses many important properties such as antiviral, antibacterial, anti-parasitic, anti-allergic, catalytic, and anti-cancer functions. Lactoferrin is recommended as a safe protein for use in various medical and food applications by The European Food Safety Authority (EFSA). This wide range of medical properties of lactoferrin is the main driving factor for the market growth for lactoferrin.
Lactoferrin is used in cosmetic formulations to treat various skin-related problems including acne due to its antimicrobial and anti-inflammatory properties. Globally, acne is the eighth most prevalent disease and acne vulgaris affects nearly 700 million people worldwide approximately 10% of the world population.
Even though acne will not have any serious life-threatening effects on the health of a person but will lead to various psychological problems such as depression and anxiety among people. In recent years the use of anti-acne cosmetics by men has surged due to increased awareness of cosmetic products. Many companies are also producing anti-acne cosmetics specifically for men. The application of lactoferrin in such as huge cosmetic industry will boost its market growth for lactoferrin in the coming years.
Many new developments have been taking place in the global market in recent years. For instance, in March 2020, Conagen announced the launch of sustainable proprietary lactoferrin protein via fermentation process at a commercial scale.
This is the first technology in the world that develops lactoferrin through fermentation. In October 2020, Sesderma introduced Lactyferrin nasal spray plus. The combination of lactoferrin with other measures that favor airflow will significantly improve the condition of COVID-19 patients.
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Report Segmentation
The market is primarily segmented on the basis of Function, Application and Region.
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By Function |
By Application |
By Region |
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Insight by Function
The iron absorption segment dominated the market and generated the highest revenue in 2020, owing to its usage in the treatment of anemia and other iron deficiency illness. In addition, it can also improve the function of immune system cells that aids in the reduction of inflammatory reactions in the body, thus increasing product utilization and market growth for lactoferrin.
The antibacterial functionality segment is the second-highest shareholder in 2020, as it offers a bacteriostatic effect and inhibits biofilm formation. The increasing use of the product as an antimicrobial therapeutic agent is expected to drive the segment's growth in the coming years. Also, the product is highly used by pharmaceutical companies as an active ingredient in various anti-bacterial and antimicrobial products.
Insight by Application
The infant formula segment dominated the market and generated the highest revenue in 2020. The capacity to improve the newborn immune system by boosting anti-inflammatory and anti-infective properties and enhancing iron absorption has led to the increasing utilization of the product.
In addition, increasing awareness regarding newborn health and nutrition and rising iron deficiency in infants has further led to the segment growth. Personal care product application is expected to grow at a high growth rate during the forecast period due to the emollient nature and intrinsic qualities of lactoferrin that aid in reducing skin inflammation.
Geographic Overview
Asia Pacific dominated the market and generated the highest revenue in 2020, owing to the increased awareness among the population for nutritional food supplements and cosmetic products. China, India, and Japan are the critical regional markets for the product. China and India contribute to around 280 billion of the global population.
There is also a high birth rate in this region. India accounted for 20 million new births between March and December of 2020 which is the highest for any country during that period followed by China. Increasing customer preference for organic products and growing awareness for newborn nutrition will further augment the market growth for lactoferrin in the region.
North America is expected to significantly contribute to the growth of the global industry during the forecast period, owing to the increased consumption of high-end nutritional supplements and cosmetic products. The presence of increased numbers of hypermarkets, supermarkets, and e-commerce platforms is expected to boost the region’s growth.
Competitive Insight
Major players in the market are investing heavily in research and development to develop new technologies to increase the production of lactoferrin. Companies are also entering into product launches, collaborations, and acquisitions to increase their foothold in the industry.
Some of the major players operating in the market include APS BioGroup, Bega Cheese Limited, Farbest Brands, Ferrin-Tech LLC, Fonterra Cooperative Group Ltd., FrieslandCampina, Glanbia PLC, Hilmar Cheese Company, Hoogwegt Group B.V., Ingredia SA, InVitria, Metagenics, Inc., Milei GmbH, MP Biomedicals, ND Pharma & Biotech Ltd., Pharming Group NV, ProHealth, Synlait Milk Ltd, Tatura Milk Industries Ltd, Warrnambool Cheese and Butter Company, and Westland Cooperative Dairy Co., Ltd.
Lactoferrin Market Report Scope
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Report Attributes |
Details |
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Market size value in 2016 |
USD 219.4 million |
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Revenue forecast in 2028 |
USD 403.0 million |
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CAGR |
8.1% from 2016- 2028 |
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Base year |
2020 |
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Historical data |
2016 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD million and CAGR from 2021 to 2028 |
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Segments covered |
By Function, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
APS BioGroup, Bega Cheese Limited, Farbest Brands, Ferrin-Tech LLC, Fonterra Cooperative Group Ltd., FrieslandCampina, Glanbia PLC, Hilmar Cheese Company, Hoogwegt Group B.V., Ingredia SA, InVitria, Metagenics, Inc., Milei GmbH, MP Biomedicals, ND Pharma & Biotech Ltd., Pharming Group NV, ProHealth, Synlait Milk Ltd, Tatura Milk Industries Ltd, Warrnambool Cheese and Butter Company, Westland Cooperative Dairy Co., Ltd. |
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