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Global Bovine Lactoferrin Market Analysis and Forecast 2020-2028

Report ID:1449Healthcare225 pages

Bovine Lactoferrin Market Statistics

The global bovine lactoferrin market is estimated to attain a valuation of USD 14.61bn by 2028 from its previous valuation of USD 0.60bn in 2020. The market is foretold to exhibit a stupendous growth rate of 12.7%.

Lactoferrin, an iron-binding protein found in human and animal milk, has several potential applications across different industries such as animal feed, cosmetics & personal care, food & beverage, nutraceuticals, and others. The favourable regulations for using natural bioactive substances across different end-use industries such as cosmetics & personal care have opened new opportunities for the producers of bovine lactoferrin as an essential functional additive. In addition to this, consumers are demanding more plant-based and vegan products which support the adoption of natural ingredients like bovine lactoferrin in various applications such as dairy products and beverages or nutritional supplements. These factors are forecasted to drive the bovine lactoferrin market in the coming years.

Global Bovine Lactoferrin Market Share By Region Type

Veganism to Drive the Bovine Lactoferrin Market

Plant-based materials have become the most preferred choice for vegans and vegetarians, as these alternative products do not contain any animal protein, but still provide all the required nutrients. The growing preference for plant-based alternatives has led to the development of many new products, paving the grand growth opportunities for the bovine lactoferrin market in the coming years.

The increasing trend of plant-based milks in the US and Western world has been attributed to the non-dairy foods available in the market, such as the availability of ice creams, yogurts, and cheeses, which had previously been unavailable to a large number of people, regardless of their dietary preferences. The growing preference for plant-based milks has been primarily attributed to the growing awareness of the scientific facts about the benefits of consuming plant-based milks and the awareness of the adverse effects of consuming dairy products on health.

The majority of the research on lactoferrin has been done in relation to iron deficiency. In these studies, lactoferrin has been found to be safe when taken by mouth. However, it is important to note that lactoferrin is not a replacement for iron-rich foods. It is possible that lactoferrin may have some benefits when taken by mouth, but these benefits have not been proven. In addition, lactoferrin is not approved by the U.S. Food and Drug Administration for use in the treatment of any condition other than iron deficiency.

Growing Lactose Intolerance to Boost Sales of Bovine Lactoferrin

The rising prevalence of lactose intolerance among people, particularly in the growing geriatric population, is likely to increase the demand for lactoferrin (bovine and/or porcine) in the near future. Furthermore, the increasing prevalence of dairy-related allergies and intolerances is likely to positively influence the bovine lactoferrin market growth. Moreover, increasing awareness about the health benefits of bovine lactoferrin among the public is expected to propel the growth of the bovine lactoferrin market in the near future.

However, due to the high cost of bovine lactoferrin, only a small percentage of infants are receiving this essential nutrient through breastfeeding. Also, several private and governmental agencies are encouraging people to practice breastfeeding, which, in turn, is set to lower the demand for infant formula, thereby restraining the bovine lactoferrin market growth in the near future.

Nonetheless, rising awareness regarding the effectiveness of probiotics in various diseases, such as inflammatory bowel disease, irritable bowel syndrome, and colitis is expected to promote the bovine lactoferrin market growth in the near future.

Growing Anaemia to Strengthen Iron Absorption Segment

The global bovine lactoferrin market is segmented into – Iron Absorption, Immune Cell Stimulation, Anti-inflammatory, Antibacterial, Antioxidant, and Intestinal Flora Protection. However, Iron Absorption is projected to dominate the bovine lactoferrin market during the forecast period. The growth that can be attributed to the high prevalence of anaemia among pregnant women has been highlighted as a critical issue as it results in low birth weight and increased risk of maternal death. Furthermore, anaemia is also associated with various other health issues such as cognitive decline, reduced immunity, and increased risk of hypertension, diabetes, and heart disease. Therefore, it is essential to have an iron supplement that can be absorbed effectively by the body.

The ability of lactoferrin to improve the immune system and regulate the function of white blood cells, which are considered to be responsible for the elimination of pathogens, is expected to fuel the growth of this segment in the coming years. Intake of lactoferrin-rich foods is believed to be ineffective, as it is poorly absorbed and not easily assimilated into the body.

Based on application, the global bovine lactoferrin market is segmented into- Sports & Functional Foods, Pharmaceuticals, Animal Feed, Personal Care Products, Food & Beverages, and Infant Formula. But Infant Formula segment is expected to lead the application sector, overall growth of the infant nutrition market is being supported by the increasing number of newborns, growth in the number of first-time parents, and increasing adoption of breastfeeding. Moreover, the increasing geriatric population, increasing number of pregnant women, and an increasing number of low birth-weight babies also increase the demand for infant nutrition. Infant formula is majorly consumed by infants below the age of 6 months, which is primarily due to the developmental stage of infants. The significant growth in the number of new-borns, increasing number of first-time parents, and women entering the work force are expected to bring in the growth opportunities for this segment during the forecast period.

Increasing Adoption of Preventive Health Measures to Lead the Asia Pacific Market

The growth of the market in Asia Pacific is highly dependent on the development of infrastructure and growth of the manufacturing sector. Manufacturing of lactoferrin is expected to increase due to the increasing prevalence of infectious diseases in the aging population and increasing adoption of preventive healthcare of Asia Pacific. Growth in the region is also expected to be aided by increasing spending on food, dietary supplements, and personal care. In addition, the increasing prevalence of chronic diseases such as diabetes and obesity in the region is expected to drive the demand for lactoferrin. Furthermore, increasing investments in health care is expected to drive the market in the region.

North America is anticipated to be the second largest market in the global bovine lactoferrin market in the forecast years. Growth in the adult population in the U.S. has led to increased demand for lactoferrin. The growing preference for healthy, homemade food and increasing awareness for digestive health among the population has increased the demand for lactoferrin. Furthermore, the growing incidence of digestive distresses across the country has led to increasing demand for lactoferrin in the region. Moreover, the growing prevalence of chronic digestive disorders such as inflammatory bowel diseases and gluten sensitivity has helped to increase the demand for lactoferrin in the region.

Competitive Landscape

A few companies are involved in dairy product research and development. Most companies are involved in the production, research and development, and marketing of lactoferrin. Some companies also sell their products through health food stores and pharmacies, through direct selling, and through agreements with large retail chains.

Recent Developments

In 2022, FrieslandCampina Engro Pakistan announced a joint venture Pakistan–Netherlands Dairy Development Centre. The project will help overcome barriers to the development of local dairy markets, such as supply chain, quality, and price of milk.

In 2021, Alland & Robert announced FDA’s approval on new classification of Gum Acacia as a dietary fiber. This is an official update of the previous reporting status of Gum Acacia as a dietary fiber and classified under nutrition labelling.

The key players in the global bovine market are-

  • Pharming Group NV
  • FrieslandCamina
  • Synlait Milk Ltd.
  • Fonterra Cooperative Group Ltd.
  • Farbest Brands
  • InVitria
  • Milei GmbH
  • MP Biomedicals
  • Tatura Milk Industries Ltd.
  • Glanbia plc
  • APS BioGroup
  • Hilmar Cheese Company

Function Outlook

  • Iron Absorption
  • Anti-inflammatory
  • Intestinal Flora Protection
  • Antibacterial
  • Immune Cell Stimulation
  • Antioxidant

Application Outlook

  • Food & Beverages
  • Infant Formula
  • Sports & Functional Foods
  • Pharmaceuticals
  • Personal Care Products
  • Animal Feed

Regional Outlook

North America

  • U.S.
  • Canada

Europe

  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Greece
  • The Netherlands

Asia Pacific

  • Japan
  • China
  • India

Latin America

  • Mexico
  • Brazil
  • Argentina

Middle East & Africa

  • South Africa
  • Saudi Arabia
  • UAE

Frequently Asked Questions 

  • What factors might influence the market growth?

Consumers are demanding more plant-based and vegan products which might influence the market positively

  • What is the market status and outlook?

The market is expected to grow at a stupendous CAGR of 12.7% between 2021 to 2028

  • What are the growth expectations of leading industry players?

The global bovine lactoferrin market is anticipated to reach a valuation of 14.61bn by 2028.

Table Of Content

1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations

2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations

3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics

4. Global Bovine Lactoferrin Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (Units) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis

5. Global Bovine Lactoferrin Market Analysis 2017-2021 and Forecast 2022-2032, By Function Outlook
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Function Outlook, 2017-2021
5.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Function Outlook, 2022-2032
5.3.1. Iron Absorption
5.3.2. Anti-inflammatory
5.3.3. Intestinal Flora Protection
5.3.4. Antibacterial
5.3.5. Immune Cell Stimulation
5.3.6. Antioxidant
5.4. Y-o-Y Growth Trend Analysis By Function Outlook, 2017-2021
5.5. Absolute $ Opportunity Analysis By Function Outlook, 2022-2032

6. Global Bovine Lactoferrin Market Analysis 2017-2021 and Forecast 2022-2032, By Application Outlook
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Application Outlook, 2017-2021
6.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Application Outlook, 2022-2032
6.3.1. Food & Beverages
6.3.2. Infant Formula
6.3.3. Sports & Functional Foods
6.3.4. Pharmaceuticals
6.3.5. Personal Care Products
6.3.6. Animal Feed
6.4. Y-o-Y Growth Trend Analysis By Application Outlook, 2017-2021
6.5. Absolute $ Opportunity Analysis By Application Outlook, 2022-2032

7. Global Bovine Lactoferrin Market Analysis 2017-2021 and Forecast 2022-2032, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Region, 2017-2021
7.3. Current Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Region, 2022-2032
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. East Asia
7.3.5. South Asia
7.3.6. Oceania
7.3.7. MEA
7.4. Market Attractiveness Analysis By Region

8. North America Bovine Lactoferrin Market Analysis 2017-2021 and Forecast 2022-2032, By Country
8.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
8.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
8.2.1. By Country
8.2.1.1. U.S.
8.2.1.2. Canada
8.2.2. By Function Outlook
8.2.3. By Application Outlook
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Function Outlook
8.3.3. By Application Outlook
8.4. Key Takeaways

9. Latin America Bovine Lactoferrin Market Analysis 2017-2021 and Forecast 2022-2032, By Country
9.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
9.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Argentina
9.2.1.4. Chile
9.2.1.5. Peru
9.2.1.6. Rest of Latin America
9.2.2. By Function Outlook
9.2.3. By Application Outlook
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Function Outlook
9.3.3. By Application Outlook
9.4. Key Takeaways

10. Europe Bovine Lactoferrin Market Analysis 2017-2021 and Forecast 2022-2032, By Country
10.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
10.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. Italy
10.2.1.3. France
10.2.1.4. U.K.
10.2.1.5. Spain
10.2.1.6. Russia
10.2.1.7. BENELUX
10.2.1.8. Rest of Europe
10.2.2. By Function Outlook
10.2.3. By Application Outlook
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Function Outlook
10.3.3. By Application Outlook
10.4. Key Takeaways

11. East Asia Bovine Lactoferrin Market Analysis 2017-2021 and Forecast 2022-2032, By Country
11.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
11.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.2. By Function Outlook
11.2.3. By Application Outlook
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Function Outlook
11.3.3. By Application Outlook
11.4. Key Takeaways

12. South Asia Bovine Lactoferrin Market Analysis 2017-2021 and Forecast 2022-2032, By Country
12.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
12.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Thailand
12.2.1.3. Malaysia
12.2.1.4. Indonesia
12.2.1.5. Rest of South Asia
12.2.2. By Function Outlook
12.2.3. By Application Outlook
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Function Outlook
12.3.3. By Application Outlook
12.4. Key Takeaways

13. Oceania Bovine Lactoferrin Market Analysis 2017-2021 and Forecast 2022-2032, By Country
13.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
13.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
13.2.1. By Country
13.2.1.1. Australia
13.2.1.2. New Zealand
13.2.2. By Function Outlook
13.2.3. By Application Outlook
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Function Outlook
13.3.3. By Application Outlook
13.4. Key Takeaways

14. MEA Bovine Lactoferrin Market Analysis 2017-2021 and Forecast 2022-2032, By Country
14.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
14.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
14.2.1. By Country
14.2.1.1. GCC
14.2.1.2. Rest of MEA
14.2.2. By Function Outlook
14.2.3. By Application Outlook
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Function Outlook
14.3.3. By Application Outlook
14.4. Key Takeaways

15. Key Countries Bovine Lactoferrin Market Analysis
15.1. U.S.
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2021
15.1.2.1. By Function Outlook
15.1.2.2. By Application Outlook
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2021
15.2.2.1. By Function Outlook
15.2.2.2. By Application Outlook
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2021
15.3.2.1. By Function Outlook
15.3.2.2. By Application Outlook
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2021
15.4.2.1. By Function Outlook
15.4.2.2. By Application Outlook
15.5. Argentina
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2021
15.5.2.1. By Function Outlook
15.5.2.2. By Application Outlook

16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Function Outlook
16.3.3. By Application Outlook

17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Pharming Group NV
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. FrieslandCamina
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. Synlait Milk Ltd.
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. Fonterra Cooperative Group Ltd.
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. Farbest Brands
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. InVitria
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. Milei GmbH
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. MP Biomedicals
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. Tatura Milk Industries Ltd.
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
17.1.10. Glanbia plc
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.10.5.2. Product Strategy
17.1.10.5.3. Channel Strategy
17.1.11. APS BioGroup
17.1.11.1. Overview
17.1.11.2. Product Portfolio
17.1.11.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.11.4. Sales Footprint
17.1.11.5. Strategy Overview
17.1.11.5.1. Marketing Strategy
17.1.11.5.2. Product Strategy
17.1.11.5.3. Channel Strategy
17.1.12. Hilmar Cheese Company
17.1.12.1. Overview
17.1.12.2. Product Portfolio
17.1.12.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.12.4. Sales Footprint
17.1.12.5. Strategy Overview
17.1.12.5.1. Marketing Strategy
17.1.12.5.2. Product Strategy
17.1.12.5.3. Channel Strategy

18. Assumptions & Acronyms Used

19. Research Methodology

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