According to Future Market Insights’ new analysis, the global lactoferrin market size is estimated to reach US$ 247.0 million in 2023. Total lactoferrin sales are anticipated to increase at 4.7% CAGR between 2023 and 2033, totaling a revenue of US$ 711.0 million by 2033.
The growing use of lactoferrin in infant formulas, therapeutic nutrition, and dietary supplements is expected to boost the global lactoferrin market forward.
Lactoferrin is a multifunctional protein found in mammalian milk. It is popular all over the world due to its antioxidant, antiviral, antibacterial, and anti-inflammatory properties.
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Lactoferrin is being used more and more in newborn feeding, nutritional supplements, and a range of other healthy meals. As a result of increased production and consumption of these commodities, lactoferrin sales will increase over the projection period.
Over the next ten years, the rising prevalence of disorders such as anaemia, diarrhoea, blood infection, and a variety of other conditions is predicted to drive a significant need for supplements such as lactoferrin.
Lactoferrin has become an excellent iron supplement for pregnant women with low iron levels. In addition, it is used to treat diarrhoea, ulcers, hepatitis, and blood infections. Over the assessment period, increasing awareness of the potential benefits of lactoferrin is likely to provide profitable revenue-generation prospects for lactoferrin manufacturers.
Lactoferrin, a nutraceutical protein that plays an important role in neurodevelopment and neuropathic processes, is in high demand among therapeutic nutrition product makers.
Clinical nutrition application of lactoferrin is gaining traction with FMI estimating this segment to accelerate at 7.3% CAGR between 2023 and 2033.
Lactoferrin is also considered a cationic glycoprotein, being used as a nutritional ingredient in different food & beverage products, such as food supplements, non-alcoholic beverages, and sports nutrition products.
The future of lactoferrin adoption depends on the food & beverage companies, especially brands making baby foods and dietary supplements, who are motivated to comply with the food safety certification requirements and necessary environmental standards.
As a result, more innovation across the value chain is required to increase the adoption rate of the product, driven by a new food revolution generated through consumer tastes and preferences while leveraging automation effectively.
Key Takeaways from the Lactoferrin Market Study:
- Global sales of lactoferrin are forecast to rise at 4.7% CAGR throughout the assessment period.
- By form, powdered lactoferrin segment accounts for a market share of 88.9%.
- Based on application, infant formulas segment currently holds a prominent share of 35.9% while the clinical nutrition segment is anticipated to witness a lucrative growth rate of 7.3% CAGR between 2023 and 2033.
- Europe remains the leading producer of lactoferrin and it held around 31.1% of the global lactoferrin market in 2022.
- Demand for lactoferrin across South Asia is expected to increase at 7.7% CAGR during the projection period.
“Growing inclination towards high nutritional and healthy food products across the world is expected to create lucrative growth prospects for lactoferrin market during the forecast period. Hence, key lactoferrin manufacturers are introducing lactoferrin-based products with exotic flavors and innovative packaging to attract more consumers,” says a lead analyst at FMI.
Who is Winning?
Leading companies offering lactoferrin are Fonterra Co-operative Group, Glanbia plc, Milei Gmbh, Nestle SA, Pharming Group NV, Farbest Brands, NutriScience, Bega Cheese Group, Ltd, InVitria, Vitalus Nutrition Inc., and others.