Bovine Lactoferrin Market
Number of pages: 100 | Report Format: PDF | Published date: May 02, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 776.1 million |
|
Revenue Forecast in 2031 |
US$ 2,883.5 million |
|
CAGR |
15.7% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Product, Application, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global bovine lactoferrin market was valued at US$ 776.1 million in 2022 and is expected to register a revenue CAGR of 15.7% to reach US$ 2,883.5 million in 2031.
Bovine Lactoferrin Market Fundamentals
Bovine lactoferrin is a protein found in milk from cows. It belongs to the transferrin family of proteins and is known for its antimicrobial properties. Bovine lactoferrin has many biological functions, including iron binding, antibacterial and antiviral activity, immunomodulatory effects, and anti-inflammatory properties. These properties make it a valuable component of many nutritional supplements and functional foods.
Bovine lactoferrin supplements are used for various purposes, including immune system support, gut health, and sports performance enhancement. Considering its benefits for the immune system and gastrointestinal health, bovine lactoferrin is frequently utilized as a food additive in infant formula, sports nutrition, and functional foods in the food industries. Additionally, bovine lactoferrin supplements are used for immune system support, digestive health, and sports performance enhancement. Bovine lactoferrin is currently being investigated in the pharmaceutical sector for its potential as a therapeutic agent for various conditions, such as cancer, infectious diseases, and inflammation. Additionally, its anti-inflammatory and antimicrobial properties can help ease and protect the skin, so bovine lactoferrin is an important component of skin care products in the chemical industry. Bovine lactoferrin is a feed supplement that promotes cattle development and health while lowering the usage of antibiotics in animal agriculture.
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Bovine Lactoferrin Market Dynamics
Bovine lactoferrin is a promising element for treating and preventing infections and inflammatory diseases because it has also been discovered to have antibacterial and anti-inflammatory effects. With a combination of its immune-boosting and gut health effects, bovine lactoferrin is a popular ingredient in functional meals and supplements. As a result, it is anticipated that the bovine lactoferrin for functional foods and supplements will continue to support the bovine lactoferrin industry trends. Also, consumers are becoming more interested in products that offer health benefits beyond basic nutrition, which helps expand the bovine lactoferrin market size in revenue.
There have been several recent research developments in the use of bovine lactoferrin. Bovine lactoferrin has been found to have potential therapeutic applications in treating various diseases, such as cancer, infections, and inflammatory disorders. Studies have also shown that bovine lactoferrin can improve gut health and boost the immune system. In terms of the global bovine lactoferrin market opportunity, enhanced research and development propelled the market growth. It has been demonstrated that bovine lactoferrin has antiviral efficacy against several viruses, including SARS-CoV-2. Recent research has shown that bovine lactoferrin can prevent the virus from replicating and lessen its capacity to infect cells. For instance, in January 2023, a group of scientists from the Beijing University of Chemical Technology identified two milk components that have anti‐SARS‐CoV‐2 properties and discovered that bovine lactoferrin inhibited SARS‐CoV‐2 variants by inhibiting the interaction of the viral spike with the functional receptor human angiotensin‐converting enzyme 2 (hACE2) and interfered with SARS‐CoV‐2/SARS‐CoV‐1 RNA‐dependent RNA polymerase activity. Furthermore, for its potential as a cancer treatment, bovine lactoferrin is also a prospective option for cancer immunotherapy due to its anti-inflammatory and immune-modulating capabilities. Inhibiting the proliferation of cancer cells and encouraging apoptosis in cancer cells are two effects of bovine lactoferrin that have been demonstrated in recent investigations.
The bovine lactoferrin market is growing due to the development of cost-effective manufacturing methods that make it more economical and widely available to customers. Manufacturers have invested in large-scale production facilities that can produce more ingredients at a cheaper cost per unit as the bovine lactoferrin demand has grown. A larger spectrum of consumers can now purchase high-quality bovine lactoferrin owing to developments in advanced purifying technology. Bovine lactoferrin can now be produced more cheaply through manufacturers who have improved their production methods to minimize waste and lower production costs.
However, while the bovine lactoferrin market has grown significantly in recent years, several challenges may impact its growth. Since milk is the source of bovine lactoferrin, factors like seasonal variations in milk production and the availability of cows raised on grass may restrict the supply of raw materials. Although bovine lactoferrin production costs have decreased due to technological advancements, they are still high compared to other dietary supplements and functional food ingredients. Moreover, bovine lactoferrin is subject to a complicated regulatory environment, and national laws governing its usage and labeling may differ. Producing and selling products containing bovine lactoferrin globally may become difficult for manufacturers. On the other hand, bovine lactoferrin is competing with various other substances sold as having immune-stimulating and gut-health advantages in the market.
Bovine Lactoferrin Market Ecosystem
The global bovine lactoferrin market overview is analyzed from the following perspectives: product, application, and region.
Bovine Lactoferrin Market by Product
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Based on the products, the global bovine lactoferrin market is segmented into spray-dried and freeze-dried.
Freeze-dried products accounted for the largest revenue share of the global bovine lactoferrin market in 2022. Unlike spray-dried bovine lactoferrin, freeze-dried bovine lactoferrin has a longer shelf life, lowering product waste and boosting supply chain management effectiveness. The biological activity of lactoferrin is likewise preserved by freeze-drying, making it a popular process for creating premium lactoferrin supplements and functional foods. Bovine lactoferrin can be gently dried in a refrigerator to maintain its purity and structural integrity. As a result, a product of higher quality and more applicability is produced. Freeze-dried bovine lactoferrin can be more easily incorporated into several products, such as supplements, functional meals, and drinks, owing to its improved solubility when dried using a refrigerator instead of other drying techniques. As customers become more health-conscious and the market for natural and organic products grows, there is an increasing demand for premium ingredients with high purity levels and less processing, such as freeze-dried bovine lactoferrin.
Bovine Lactoferrin Market by Application
Based on the applications, the global bovine lactoferrin market is segmented into infant formula, pharmaceuticals, dietary supplements, food, and others.
The infant formula accounted for the highest revenue share of the global bovine lactoferrin market in 2022. Due to rising disposable incomes, birth numbers, and a growing understanding of the significance of a healthy diet for a baby's growth and development, bovine lactoferrin is frequently used in infant formula. Iron, lactose, and immune-stimulating proteins are just a few bioactive substances in bovine lactoferrin, which is crucial for baby nutrition for growth, development, and general health. Bovine lactoferrin has been proven to be safe and beneficial for promoting child health and development, and it is frequently permitted for use in infant formula in many nations. Additionally, the demand for functional ingredients is rising. Demand for functional ingredients like bovine lactoferrin, which offer specific health advantages beyond basic nutrition, is growing as consumers become more health-conscious. The bovine lactoferrin market for natural and organic products continues to grow.
Bovine Lactoferrin Market by Region
Based on the region, the global Bovine Lactoferrin market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest revenue share of the global bovine lactoferrin market in 2022. There is growing consumer awareness of the potential health benefits of functional foods, and North America has a strong market for bovine lactoferrin supplements. In light of North America's comparatively high living level, people there have more disposable income to spend on upscale products like functional nutrition and supplements made from bovine lactoferrin. Growing consumer interest in items supporting their health and well-being is another important factor that has helped enhance North America's bovine lactoferrin market outlook. With the assistance of several major players in the bovine lactoferrin market, North America has a well-developed healthcare infrastructure that can support using bovine lactoferrin in medical applications, such as treating infections and other health conditions.
According to the bovine lactoferrin industry analysis, the Asia Pacific region is considered the fastest-growing market with a rapid increase in revenue CAGR. Asia Pacific is home to more than half of the world's population, and the region's rapidly growing urban centers are driving demand for functional foods, supplements, and other health products. The increasing awareness about health and wellness among consumers in the Asia Pacific region also contributes to the growth of the bovine lactoferrin market. Additionally, the rising disposable income and changing lifestyles are expected to further boost the demand for these products in the region. Also, the presence of important market players in the Asia Pacific is the world's largest infant formula market. Bovine lactoferrin is widely used in these products due to its nutritional benefits and safety profile.
Bovine Lactoferrin Market Competitive Landscape
Multiple companies across the globe are investing in raising awareness and reimbursement, which is expected to improve the bovine lactoferrin market outlook. Notable market participants account for the largest revenue share of the global bovine lactoferrin market include,
Bovine Lactoferrin Market Strategic Developments
Bovine lactoferrin is a supplement protein derived from cow milk with potential chemo preventive, immunostimulant, and antimicrobial activity, used in several industries, including food and pharmaceuticals.
Freeze-dried products accounted for the largest revenue share of the global bovine lactoferrin market.
Increased health awareness and advancement in R&D are the major drivers for the bovine lactoferrin market.
Key companies operating the global bovine lactoferrin market are Bega Cheese Limited, Beston Global Food Company Ltd, Fonterra Co-Operative Group Limited, Glanbia Plc, Inner Mongolia Yili Industrial Group Co. Ltd, and Jarrow Formulas Inc.
The global bovine lactoferrin market is expected to grow at a revenue CAGR of 15.7% during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain