Lactoferrin market set to increase
The global lactoferrin market size is set to surpass US$315 million (€364.1m) by 2027, according to a new research report by Global Market Insights. It was US$195 million (€164m) in 2020 and is estimated to grow at over 7.2% CAGR between 2021 and 2027.
Additionally, the powdered lactoferrin market was valued at over US$85 million (€71.5m) in 2020 and is expected register more than 7.7% CAGR between 2021 and 2027. This is mainly ascribed by its easy miscibility in any fluid medium. Moreover, nutritional supplements in the liquid form such as shakes and drinks require ingredients in the powder form for their use, which is likely to raise the product demand from the sports industry. Growing concerns regarding child nutrition should escalate product demand from infant formula applications. The bovine lactoferrin market was valued at over US$25 million (€20.2m) in 2020 and is expected to grow at over 6.3% CAGR over the forecast period. Bovine lactoferrin exhibits useful properties such as anti-infective, anti-cancer and anti-inflammatory, which facilitates its use in treating various digestive and non-digestive tract issues in humans. Rising demand for bovine lactoferrin for treatment of Helicobacter pylori infection, chronic hepatitis C, tinea pedis disorders is expected to further foster the market share.
Meanwhile, the North America lactoferrin market is expected to reach over US$90 million by 2027 owing to an increase in consumer awareness regarding the importance of physical fitness and hygiene. Increasing sports activities and an increase in the number of physical fitness centers and gyms opening up in the region is likely to further raise product demand from sports nutrition applications, boosting the regional market demand.
The use of lactoferrin for immune cell stimulation is expected to grow at a CAGR of 8.1% in the coming years owing to the rapid spread of infectious diseases across the globe. Lactoferrin directly interacts with cell structure components by binding cell surface targets which aids in improving the overall immune response of the body. Rapid transmission of infectious diseases such as Covid-19 have driven consumer focus towards improving their immunity and resistance power to various diseases, which is likely to increase the acceptance of lactoferrin among consumers in the years to come.
Industry players operating in the lactoferrin market are Pharming Group, Synlait Milk, Metagenics, MP Biomedicals, Westland Cooperative Dairy, APS BioGroup, Glanbia, Farbest Brands, Milei, Fonterra Cooperative Group, InVitria, Hoogwegt Group, Bega Cheese, Ferrin-Tech, Warrnambool Cheese and Butter, FrieslandCampina and ND Pharma & Biotech.