The Bovine Lactoferrin Market is valued at around USD 772.39 million in 2022 and is expected to reach USD 3,349.05 million by 2030, registering a CAGR of 15.8% over the forecast period.
A protein called lactoferrin is present in both human and animal milk as well as other physiological fluids. Lactoferrin aids in controlling how well the intestines absorb iron into the body. Additionally, it appears to guard against fungal, viral, and bacterial infections. Lactoferrin is frequently used to treat low iron levels in pregnant women and to shield preterm babies from blood infections. Bovine lactoferrin is a protein generated from cow milk that serves a number of nutritional functions.
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The Bovine Lactoferrin Market – Market Trends
• The rapid increase in the number of working women worldwide, which has noticeably reduced breastfeeding rates all over the world, is one of the key factors driving up demand for bovine lactoferrin across global markets.
• For instance, according to data released by the World Health Organization, only 38% of all new-borns between the ages of 0 and 6 months are breastfed exclusively (WHO).
• Because of this, it is predicted that the market for bovine lactoferrin will expand significantly over the ensuing years.
• Additionally, the global population’s increasing prevalence of chronic conditions like stomach and intestinal ulcers, diarrhoea, and hepatitis C is driving up demand for bovine lactoferrin.
The Market – Segmentation
Market fragrance concentrates market has been sub-classified into product type, application, function.
On the basis of product type, the Market is bifurcated into:
• Spray dried powder
• Freeze dried powder
• others
On the basis of application, the market is segmented into:
• dietary supplement
• infant nutrition- online, offline
• others
On the basis of function, the market is segmented into:
• Iron absorption
• Immune cell stimulation
• Antibacterial
• Others
Regional Analysis
Asia-Pacific dominated the global Market, is worth approximately US$ 335 Million. The largest regional market in 2022 was Asia Pacific, with a sales revenue of 42.5%. The regional market is anticipated to maintain its position over the course of the forecast period. India, China, and Japan are leading the region in revenue growth, which can be attributed to rising consumer spending power and population growth.
Key Market players
Global key players of Bovine Lactoferrin Market include Fonterra Group, Bega Cheese, FrieslandCampina (DMV), Milei Gmbh, Glanbia Nutritionals, Westland Milk, Tatua, Synlait Milk, WBC, Murray Goulburn, Ingredia Nutritional, among others.
Report scope
Global Bovine Lactoferrin Market: Historical Years- 2018-2021
Global Bovine Lactoferrin Market: Forecast Years- 2022-2030
Global Bovine Lactoferrin Market 2022- USD 772.39 million
Global Bovine Lactoferrin Market 2030- USD 3,349.05 million
Global Bovine Lactoferrin Market CAGR- 15.8%
The global demand for nutritional meals and dietary supplements is likely to significantly fuel the expansion of the market. Infant food producers now offer nutrient-rich supplements to meet the increased demand for convenient feeding from working mothers throughout the world. The effectiveness of lactoferrin in treating skin conditions, such as acne, as well as its application in pharmaceutical and personal care products for antibacterial, antiviral, and anti-inflammatory purposes have also been shown in multiple clinical investigations.
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It is projected that the COVID-19 epidemic will benefit the market for medications for allergic conjunctivitis. To expand hospital capacity for patients diagnosed with COVID-19, a significant number of clinics and hospitals around the world underwent restructuring. A potential backlog in non-essential procedures developed as a result of the sharp increase in COVID-19 cases. The lockout caused delays in the production and delivery of critical medical supplies. Limited access to medical treatment, a staffing deficit in the healthcare industry, and an increase in COVID-19-related hospitalization are a few more variables that have an impact on the market.
