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The global lactoferrin products market size is estimated to grow by USD 4.89 billion, at a CAGR of 16.3% between 2023 and 2028.
The global rise in working women increases demand for convenient baby care products like lactoferrin-infused baby food and formula. Countries like India, China, US, and UK see a surge in working mothers, driving consumption of lactoferrin products for health benefits. Thus, such factors are boosting the sales of lactoferrin products, which, in turn, is anticipated to drive market growth during the forecast period. It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2018-2022, besides analyzing the current market scenario.
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The infant formula segment will be significant during the forecast period. The demand for infant formula products is expected to grow owing to the rising number of working mothers and the growing health awareness among customers. Lactoferrin is a natural protein component of breast milk, and its inclusion in infant formulas has gained popularity as it builds the immune system and facilitates the absorption of iron. One of the drivers of the infant formula segment is the convenience factor associated with these products.
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The infant formula segment was valued at USD 1.57 billion in 2018. Additionally, these products take longer to digest than breast milk, which helps retain the feeling of fullness. Also, the growth of the segment can be attributed to the need for alternatives to breast milk, especially for women who have concerns such as lactation issues and the low production of breast milk. Thus, the clinical benefits of lactoferrin-based infant formula and the increasing number of working women are boosting the growth of the infant formula segment of the market during the forecast period.
The lactoferrin is considered a good source of iron as it is involved in the transport of iron across the cell membranes, particularly in the intestine. By binding with iron, lactoferrin helps in facilitating the absorption of dietary iron in the gut. In addition, lactoferrins' potential benefits of iron absorption have led to its consideration in different applications, like the fortification of infant formulas, dietary supplements, and functional foods. Thus, increasing demand from consumers to fulfill deficiency is anticipated to drive the growth of the iron absorption segment of the market during the forecast period.
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APAC is estimated to contribute 61% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The APAC lactoferrin market is poised for growth driven by rising consumer awareness and demand for certified products, especially in China, Australia, and New Zealand. Australian consumers seek safe and traceable products, while Chinese consumers prefer organic options for immunity-boosting benefits. Manufacturers are expanding production facilities to meet demand, with online sales contributing significantly to market expansion. Notable developments include Westland Milk Products' lactoferrin facility in New Zealand, catering to the growing demand for premium products. Hence, such factors are expected to drive market growth in this region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Advanced Orthomolecular Research Inc.: The company offers lactoferrin products such as Lactoferrin 250 which supports immune system, improves iron absorption and manages inflammatory response.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
An increase in the number of mothers with lower milk supply is the key factor driving market growth for lactoferrin products. Approximately 10% of women face physiological challenges in breastfeeding, including deficiencies such as iron or physiological problems like breast engorgement and mastitis, leading to low lactation. Additionally, conditions like polycystic ovary syndrome (PCOS), diabetes, and thyroid issues contribute to insufficient milk supply. Mothers under medication or with mammary hypoplasia also encounter difficulties in breastfeeding. In such cases, lactoferrin products, including supplements and infant formula, serve as optimal solutions.
These products are increasingly utilized by mothers facing low breast milk supply, stimulating market growth. Accessibility through both brick-and-mortar stores and online stores enhances their availability, catering to a wide consumer base. Moreover, ongoing clinical trials highlight lactoferrin's potential in addressing various skin-related health conditions, including the acne treatment market, owing to its potent anti-inflammatory properties.
Strategic initiatives by companies is the primary trend shaping market growth. Most established market players are focusing on strategic initiatives such as geographical expansion to increase the clientele of lactoferrin products. For example, in March 2023, Royal FrieslandCampina Ingredients (proteins and prebiotics manufacturer) announced the opening of its new lactoferrin production site in the Netherlands to meet the growing global demand in the early life and adult nutrition industry.
Additionally, aligned with market trends and analysis, companies are also working on developing innovative lactoferrin products from different sources, such as human cells. For example, in June 2021, TurtleTree launched cell-based human lactoferrin for infant and sports nutrition, as this offers all the benefits of lactoferrin and resistance to dairy intolerance. Consequently, beneficial strategic initiatives among market players are expected to drive market growth during the forecast period.
Shifting preferences toward vegan products is a challenge that affects market growth. The preferences of consumers are shifting toward vegan and dairy-free products. Various vegan alternatives for lactoferrin products are available in the market, like plant-based infant milk, supplements, and personal care products. Such alternatives are commonly available in an assortment of different flavors, which will increase their adoption among consumers.
Moreover, veganism is a way of life that excludes all forms of animal exploitation and cruelty in producing products such as food and clothing. Thus, with the rising number of people following the vegan lifestyle, the demand for functional foods, supplements, and personal products that contain lactoferrin as an ingredient is expected to reduce during the forecast period. Hence, shifting preference for vegan products may impede market growth during the forecast period.
The market report includes the adoption lifecycle of the market growth analysis, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The market witnesses significant traction driven by increasing awareness of its benefits in addressing skin-related health conditions, particularly in the booming acne treatment market. Clinical trials attest to its anti-inflammatory properties, supported by endorsements from the World Health Organization (WHO) and product manufacturers. The personal care market, including brick-and-mortar and specialty stores, alongside online platforms, showcases lactoferrin-infused products targeting inflammations such as zits, cysts, and gastrointestinal inflammatory cases issues like gut health intestinal inflammation, irritable bowel movement syndrome and bloating.
Consumer buying patterns favor online shopping portals for lactoferrin supplements, especially in cases of anemia and iron deficiency, owing to its superior bioavailability and influence on serum ferritin levels.As a member of the transferrin family, lactoferrin's antibacterial functionality inhibits bacterial growth and biofilm formation, making it a sought-after antimicrobial therapeutic agent, garnering interest from pharmaceutical companies for its potential as an active ingredient in skincare formulations. Its emollient nature alleviates skin inflammation by modulating cytokine mediators, rendering it non-toxic and a potential adjunctive therapy in cancer treatment.
The market analysis and report forecasts market growth and forecasting by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends opportunities from 2018 to 2028.
Lactoferrin Products Market Scope |
|
Report Coverage |
Details |
Page number |
175 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 16.3% |
Market Growth 2024-2028 |
USD 4.89 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
15.3 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 61% |
Key countries |
US, China, Australia, Japan, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Advanced Orthomolecular Research Inc., Bega Cheese Ltd., Blackmores Ltd., Cure Nutraceutical PVT. LTD., Fonterra Cooperative Group Ltd., Glanbia plc, INGREDIA SA, Inner Mongolia Yili Industrial Group Co. Ltd., Jarrow Formulas Inc., Lactoferrin Co., Life Extension Foundation Buyers Club Inc., Morinaga Milk Industry Co. Ltd., Morishita Jintan Co. Ltd., Noumi Ltd., Oskia Skincare Ltd., Royal FrieslandCampina NV, Saraya Co. Ltd., Savencia SA, TurtleTree, US CLINICALS, ZIEXA HEALTHCARE, and Zifam Pinnacle Pty. Ltd. |
Market dynamics |
Parent market analysis,Market Forecasting Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Usage
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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