Bovine Lactoferrin Market to be Worth US$ 1,640.6 Million by 2030
Reports and Insights (R&I) has published a new report titled, “Bovine Lactoferrin Market: Opportunity Analysis and Future Assessment 2022-2030”
Global bovine lactoferrin market, By Type (Freeze-dried and milled, Spray dried powder), By Application (Infant formula, Dietary supplements, Pharmaceutical, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.
The bovine lactoferrin market is estimated to reach at a value of US$ 664.4 Mn by the end of 2022 and expected to reach at a value of US$ 1,640.6 Mn by 2030 with a significant CAGR of 12.2%
As per the report, the widespread applications and numerous benefits of bovine lactoferrin across the world are enormously driving the growth of the global bovine lactoferrin market. A protein found in the milk of humans and cows is basically known as lactoferrin. Notably, the high levels of lactoferrin are present in the first milk produced just after the birth of the baby. The fluid in the eye, respiratory tract, nose, intestine, and other portions are also said to contain a considerable amount of lactoferrin.
The infant food, dietetic foods, food supplements, sports nutrition, alcoholic beverages, and personal care and cosmetics also adds to the numerous applications of bovine lactoferrin, which is expected to boost the growth of the global bovine lactoferrin market. In addition, lactoferrin can also be used as a medicine as it is considered beneficial in curing various diseases.
For instance, in order to treat stomach and intestinal ulcers, hepatitis C, and diarrhea, lactoferrin is useful. Also, the other benefits of lactoferrin are it can be used as an antioxidant and to safeguard against viral and bacterial infections, preventing tissue damage related to aging, stimulating the immune system, preventing cancer, promoting healthy intestinal bacteria, and regulating the way the body processes iron.
Moreover, the growing count in the working women population has been observed across the world has resulted in lowered overall breastfeeding rates across the world. For instance, only 38% of all newborns aged between 0 to 6 months are particularly breastfed, as per the data published by the World Health Organization (WHO).
Noticeably, the higher growth in the ratio of female to the male labor force has been witnessed, specifically in the emerging countries like China, Japan, and India, resulting in the inclination of the working women towards infant formula feeding to children, instead of breastfeeding, thereby giving a positive push to the growth of the global bovine lactoferrin market. In addition to that, lactoferrin is also promoting its utility in industrial agriculture as it is used to kill bacteria during meat processing.
Furthermore, the key manufacturers of infant formula are more concentrated on introducing new specialized and advanced products in the global market in order to fulfill the increasing demand for nutrients rich baby food, which is expected to accelerate the growth of the global bovine lactoferrin market in the next five years.
R&I Study identifies some of the key participating players in the bovine lactoferrin market globally are Fonterra Group, Bega Cheese, FrieslandCampina (DMV), Milei Gmbh, Glanbia Nutritionals, Westland Milk, Tatua, Synlait Milk, WBC, Murray Goulburn, and Ingredia Nutritional, among others.
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