The global bovine lactoferrin market will grow at a CAGR of 12.7% and touch the estimated value of USD14.61 by 2028 as against its previous valuation of USD 0.60bn in 2020.
The growing demand for dairy products is fueling the growth of the global bovine lactoferrin market. People are realizing the benefits of milk and its by-products such as lactoferrin, a protein found in cow’s milk that is touted to have numerous health benefits. As more people adopt an extensive dairy-based diet, the demand for dairy products has grown exponentially.
Growing Adoption of Veganism Drives the Bovine Lactoferrin Market
The bovine lactoferrin industry has been booming due to the growing prevalence of lactose-intolerant individuals, which is further paving the way for the adoption of a vegan diet. Furthermore, the growing concerns regarding food safety and antibiotics have also led to the increased demand for bovine lactoferrin.
However, the high cost of bovine lactoferrin is expected to hinder the growth of the bovine lactoferrin market.
Nonetheless, the increasing prevalence of non-communicable diseases (NCD), like heart ailments and diabetes, is also anticipated to fuel the demand for bovine lactoferrin in the near future as it is said to boost the immunity for improving their overall health.
Prevalence of Anaemia Bolsters the Iron Absorption Segment
Anaemia is also known to be associated with various other factors such as low ferritin levels, low intake of iron-rich foods, low intake of vitamin B12, low intake of folate, poor absorption, and poor storage of iron. Therefore, it is essential to maintain a healthy diet, increase intake of vitamin B12, and folate, and maintain a healthy lifestyle, which further would increase the demand for the bovine lactoferrin market in the coming years.
The increasing demand for dairy by-products is expected to fuel the growth of the global bovine lactoferrin market over the forecast period and beyond.
The growing demand for dairy products and their by-products such as lactoferrin, which has multiple health benefits, is fueling the growth of this market. Growing concerns about certain health risks associated with eating dairy products have also made consumers wary of cow’s milk. However, these challenges are not diminishing the growth prospects of this market.
Other advantages include ease of production with less waste as well as long shelf life that makes these products cost-effective to sell. Indeed, by using bovine lactoferrin as a key product ingredient, the key companies can also tap into the global trend of going organic and healthy which is on the rise across the globe.
The Asia Pacific is expected to be the fastest-growing market in the near future. The growth can be due to the increasing prevalence of infectious diseases in the ageing population and the increasing adoption of preventive healthcare and the growing need for functional food will drive the growth opportunities in the region.
The report available with ResearchMoz helps market analysts understand the strengths and weaknesses of the existing players and determine which competitors pose a major threat to the business. The report also analyzes the growth potential of the global bovine lactoferrin market in the forecast years.
Most dairy companies are focused in research and development on lactoferrin because they want to improve the quality of their products. They want to increase the amount of lactoferrin in their products, reduce the cost of lactoferrin, or improve the taste of lactoferrin. Therefore, the global bovine lactoferrin is highly competitive in nature.
The major players in the bovine lactoferrin market include-
- Milei GmbH
- MP Biomedicals
- Pharming Group NV
- Synlait Milk Ltd.
- Fonterra Cooperative Group Ltd.
- Farbest Brands
- MP Biomedicals
- Tatura Milk Industries Ltd.
- Glanbia plc
- APS BioGroup
- Hilmar Cheese Company
The report analyzes the growth rate of the global bovine lactoferrin market over the past five years. It also analyzes the various factors that drive or restrain the growth rate of this market. This would enable stakeholders to make informed decisions in this space and be successful. Following are some key takeaways from the report.
- The global bovine lactoferrin market will exhibit a growth of a CAGR of 12.7% during the forecast period and will reach the estimated valuation of USD14.61 by 2028.
- The growing demand for dairy products is fueling the growth of the global bovine lactoferrin market. People are realizing the benefits of milk and its by-products such as lactoferrin, a protein found in cow’s milk that is touted to have numerous health benefits.
- The growing awareness of heart health benefits of lactoferrin; – the increasing need for high-quality protein sources; the demand for functional ingredients will increase the growth opportunities for the bovine lactoferrin market in the coming years.
- Powdered lactoferrin is the fastest-growing segment in the bovine lactoferrin market. As people are adopting a dairy-based diet, more dairy products such as powdered milk and cheese have been introduced to the market. This has led to a surge in demand for powdered lactoferrin.
- Iron Absorption
- Intestinal Flora Protection
- Immune Cell Stimulation
- Food & Beverages
- Infant Formula
- Sports & Functional Foods
- Personal Care Products
- Animal Feed
- The Netherlands
Middle East & Africa
- South Africa
- Saudi Arabia