Lactoferrin Market Size to Reach 395.75 Mn by 2030
The global lactoferrin market is expected to grow from USD 142.47 million in 2020 to USD 395.75 million by 2030, at a CAGR of 9.20% during the forecast period 2021-2030. Global lactoferrin market is witnessing a considerable growth owing to the rising demand for lactoferrin in emerging and developing nations.
The human milk segment is going to going to dominate the market with market value USD 88.33 Million in 2020.
The source segment is divided into human milk and cow’s milk. The human milk segment is going to going to dominate the market with a market value of USD 88.33 million in 2020. The segmental growth is attributed because large amount of lactoferrin is found in human milk, just after the baby is born known as colostrum. Colostrum holds high levels of lactoferrin, about seven times the amount found in breast milk that is produced in due course of time.
The iron absorption segment dominated the market with a market value of USD 39.89 Million in 2020.
The function segment includes iron absorption, antioxidant, antibacterial, anti-inflammatory, immune cell stimulation, and intestinal flora protection. The iron absorption segment dominated the market with a market value of USD 39.89 Million in 2020. The segment growth is attributed because lactoferrin is usually used to treat anemia disorder.
The infant formula segment is going to have the highest growth during the forecast period.
By application, the market is segmented into infant formula, food & beverages, animal feed, personal care products, pharmaceuticals, and sports & functional food. The infant formula segment is going to have the highest growth during the forecast period. The segment growth is mainly attributed owing to binding property of Ferric ions associated with the lactoferrin.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia- Pacific is dominating the market with the market value of USD 46.30 Million in 2020. The regional growth is attributed because of the rise in demand for lactoferrin in the developing and emerging countries in the present scenario. The key organizations engaged in production and manufacturing of lactoferrin are gradually expanding their base in Asia Pacific region because of the presence of the large consumer base coupled with the rising popularity of the health consciousness amongst the population in and across the region. North America is expected to grow at the highest CAGR over the forecast period owing to the rising incidences of the bacteria related diseases and disorders.
Competitive Analysis:
The major players of market include Tatua Co-Operative Dairy Company Ltd, Synlait Milk Ltd, Royal FrieslandCampina, Merck KGaA, Ingredia SA, Glanbia PLC, Freedom Foods Group Ltd, Fonterra Co-operative Group Limited, Farbest Brands and Bega Cheese Limited among others.?