Research into medical applications of lactoferrin propels the global lactoferrin market to cross US$ 237 Bn between 2019 and 2029. Surging demand for lactoferrin can be traced back to increasing consumer awareness about iron deficiencies and diseases such as anemia of inflammation. The global medical community contributes to this surge by investigating its nutritional properties and benefits in treating a variety of symptoms. Food & beverage product manufacturers are increasingly adopting lactoferrin as an ingredient in manufacturing alcoholic beverages, bakery items, and infant formulas.
Key Takeaways of Lactoferrin Market Study
- Clinical nutrition exhibits share-wide and growth-wise majority in the global lactoferrin market between 2019 and 2029.
- North America and Latin America collectively account for more than 35% of the lactoferrin market.
- East Asia offer the most lucrative growth opportunities with a dexterous growth rate of more than 7%.
- Dietary supplements are expected maintain share-wide and growth-wise supplement type leadership with 33% of market share.
- Drugstores lead the market sales channels owing to established consumer behavior of buying medicinal products off the shelf.
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“Surging demand for lactoferrin from baby-foods, and dietary supplements will drive market growth. Market players are focusing on research and development of new lactoferrin products with applications in untapped industries.” -FMI Analyst
Dietary Trends Propel Consumer Demand
Dietary supplements are expected to garner increased consumer traction on back of consumer awareness about lactoferrin health benefits. Growing trend of precision diets and fitness routines is generating demand for specific ingredients such as lactoferrin to promote availability of iron in the body. Plant-based diets are supplemented by lactoferrin powder, pellets, and liquids. Market players are differentiating products based on value addition in consumer diets. Baby food is also expected to act as a driving force for continuous growth in demand for lactoferrin products. For instance, infant formula is gaining increased consumer traction owing to the medical benefits such as iron binding properties of lactoferrin for infants. Market players are creating new opportunities through third-party online channels and direct-to-consumer sales strategies.
Who is winning?
The global lactoferrin market is locally concentrated amid strong presence of various regional and global players. Market players shaping the global lactoferrin market are Glanbia plc, Fonterra Co-operative Group Ltd., Vitalus Nutrition Inc., NutriSciences, Milei GmbH, Pharming Group NV, Nestle SA., Bega Cheese Group, Farbest Brands, and InVitria. Companies aim to establish a competitive advantage by research & development of innovative products that differentiate their product offerings based on functional benefits.
What Does the Future Hold?
The future of lactoferrin market is antimicrobial, medical researchers are investigating the antimicrobial properties of lactoferrin against harmful pathogens. Its versatility in treating diarrhea, stomach & intestinal ulcers, hepatitis C, and enhanced applications in anemia of inflammation will define future growth trajectory. Baby foods will continue to contribute to the global lactoferrin demand. Infant formulae is gaining increasing consumer traction on the back of spreading awareness among millennial parents.
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Want to Know More?
Future Market Insights has published a market research report on the lactoferrin market, which contains global industry analysis of 2014-2018 and opportunity assessment for 2019-2029. This report provides an unbiased analysis of the lactoferrin market through four different segments – form, application, supplement type, and region. The lactoferrin market report also provides demand trends and opportunities of different types across industry verticals, a comprehensive list of service providers in the market, various projects around the world, and a detailed overview of the parent market.
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