Lactoferrin Industry Overview
The global lactoferrin market is expected to reach USD 411.8 million by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 8.2% from 2021 to 2028. Increasing incorporation of lactoferrin in various products ranges including infant food, food supplements, dietetic foods, alcoholic beverages, sports nutrition, and personal care and cosmetics should bolster the lactoferrin market in the forecast timeframe, ascribed to strong health benefits.
Lactoferrin offers stimulating effects on the immune system, prevents cell damage caused by aging, promotes the culture of beneficial bacterial in the intestinal tract, and regulates viruses, bacteria, and fungi along with being regulators to iron metabolism. Lactoferrin is found effective for the treatment of hepatitis C infection by inhibiting replication of the virus at the intracellular level. Hence, the strong applicability of lactoferrin in the nutraceutical, pharmaceutical, and personal care industries is anticipated to drive demand during the forecast period.
Lactoferrin Market Segmentation
Grand View Research has segmented the global lactoferrin market on the basis of function, application, and region:
Based on the Function Insights, the market is segmented into Iron Absorption, Anti-inflammatory, Intestinal Flora Protection, Antibacterial, Immune Cell Stimulation, and Antioxidant
- The iron absorption segment accounted for the highest revenue share of more than 29% in 2020 and is expected to maintain its leading position over the forecast period.
- The antibacterial functionality segment accounted for the second-highest revenue share in 2020. The ability of the product to inhibit bacterial growth and biofilm formation, which, in turn, increases its applicability as an antimicrobial therapeutic agent, is anticipated to fuel the segment growth in the coming years.
Based on the Application Insights, the market is segmented into Food & Beverages, Infant Formula, Sports & Functional Foods, Pharmaceuticals, Personal Care Products, and Animal Feed
- The infant formula segment dominated the lactoferrin market and held the highest revenue share of more than 38.0% in 2020. The segment is expected to expand further at a steady CAGR from 2021 to 2028.
- The demand is anticipated to grow owing to the increase in the number of clinical studies supporting infant formula integration with lactoferrin and changing consumer dynamics towards infant supplementary foods.
- The personal care product application segment is anticipated to register the fastest CAGR during the forecast period. This growth can be credited to the rising product demand in the personal care industry due to its emollient nature and inherent properties that help reduce skin inflammation.
Lactoferrin Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market for lactoferrin is highly fragmented and is characterized by numerous small and medium-sized companies. This is mainly due to the nature of logistical indifference created by dairy producers in different countries. Dairy products are perishable and need to reach the production plant on time; this creates a disparity among the producers and small and medium-sized entities taking advantage by sourcing local dairy on time to meet the production schedule. Factors, such as territorial market size, competition intensity, capacity, labor availability, and development of local logistical infrastructure, are predicted to impact the distribution of final products. Most companies are directly involved in retailing through online shopping platforms, hypermarkets, supermarkets, specialty stores, and local convenience stores.
Some prominent players in the global Lactoferrin market include:
- Hilmar Cheese Company
- Pharming Group NV
- FrieslandCampina
- Synlait Milk Ltd.
- Ingredia SA
- MP Biomedicals
- Tatura Milk Industries Ltd.
- Glanbia plc
- APS BioGroup
- ProHealth
- Fonterra Cooperative Group Ltd.
- Farbest Brands
- InVitria
- Milei GmbH
- Ferrin-tech LLC
Order a free sample PDF of the Lactoferrin Market Intelligence Study, published by Grand View Research.
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