Lactoferrin Market to Grow with a CAGR of 8.72% through 2028
Growing health consciousness, expanding applications in various industries, and ongoing research are expected to drive the Global Lactoferrin Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Lactoferrin Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Lactoferrin Market stood at USD 128.34 million in 2022 and is anticipated to grow with a CAGR of 7.09% in the forecast period, 2024-2028. This can be attributed to research and development. Ongoing research and development activities in the field of lactoferrin continue to uncover new potential applications. Scientists are exploring its role in various health conditions, from iron deficiency anemia to gastrointestinal disorders, further propelling market growth.
Furthermore, sustainability is a growing concern across industries. To meet the demands of eco-conscious consumers, companies in the lactoferrin market are exploring sustainable sourcing practices and more environmentally friendly production methods.
Increasing consumer awareness of health and dietary concerns, coupled with the growing incidence of skin-related health issues, is poised to drive demand. Lactoferrin is known for its multifunctional properties, including antiviral, antibacterial, antiparasitic, catalytic, and anti-allergic attributes, which are expected to fuel demand from the pharmaceutical and personal care sectors. According to the American Academy of Dermatology, acne is the most common skin condition in the United States, affecting an estimated 40 to 50 million people annually. Consequently, the acne treatment market is projected to experience substantial growth in the foreseeable future. Clinical trials have demonstrated lactoferrin's efficacy in treating acne and other skin conditions. Due to its anti-inflammatory characteristics, lactoferrin eliminates the primary food source for pathogens by neutralizing their contributors. According to the World Health Organization (WHO), 50% of women and 42% of men reported experiencing acne in their twenties, 35% of women and 20% of men in their thirties, 26% of women and 12% of men in their forties, and 15% of women and 7% of men in their fifties.
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The increasing prevalence of acne in developed nations such as the United States, Canada, and Germany, combined with established evidence and research on lactoferrin's effectiveness in acne treatment, is expected to create growth opportunities for product manufacturers in the coming years. The global personal care industry is a multi-billion-dollar sector that is shifting from traditional brick-and-mortar stores to specialized and online retailers. Women consumers of all age groups worldwide prefer a cross-channel purchasing approach, where they gather information about products online before making purchases at physical retail outlets. Consumer awareness, driven by brand owners' product marketing efforts, along with a preference for organic products with minimal side effects and higher efficacy, is anticipated to further boost product demand.
Lactoferrin is extensively utilized to reduce dermal immune responses and promote wound healing by stimulating the growth of connective tissue and epidermal cells, facilitating skin regeneration. Its soothing effect on inflammation prevents the formation of larger pimples and cysts. Numerous clinical trials have demonstrated lactoferrin's effectiveness in the treatment and prevention of gastrointestinal inflammatory conditions. Increasing consumer awareness of gut health, along with rising demand for the product to address issues such as irritable bowel movements, bloating, and intestinal inflammation, is expected to drive market growth for lactoferrin in the foreseeable future.
The Global Lactoferrin Market is segmented into function, application, regional distribution, and company.
Based on its function, the iron absorption sector generated the most significant portion of revenue in 2022 and is projected to maintain its leading position throughout the forecast period. Iron deficiency typically results in anemia, affecting approximately more than 30% of the global population. Lactoferrin has emerged as a crucial solution for addressing anemia due to its high bioavailability and its ability to boost serum ferritin levels fivefold, making it a more efficient iron source compared to other alternatives. According to the World Health Organization (WHO), anemia affects a staggering 1.62 billion people worldwide, with the highest prevalence found among preschool children, accounting for 47.4% of the total affected population.
Lactoferrin represents a modern solution for anemia and is widely recognized as a member of the transferrin family, which regulates free iron levels in bodily fluids and enhances hemoglobin levels by improving iron binding capacity. In 2020, the antibacterial functionality sector held the second-highest share of revenue. Its ability to inhibit bacterial growth and the formation of biofilms, consequently expanding its potential as an antimicrobial therapeutic agent, is expected to drive the growth of this segment in the upcoming years. Pharmaceutical companies have increasingly incorporated lactoferrin as an active ingredient in numerous antimicrobial and antibacterial products, providing further support for the growth of this segment.
Based on application, the infant formula category dominated the lactoferrin market in 2022 and held the largest share of revenue. This segment is expected to continue growing steadily at a CAGR from 2023 to 2028. The demand for lactoferrin in infant formula is projected to increase due to a rise in clinical studies supporting its integration into infant formula products and changing consumer preferences for supplementary foods for infants. The demand for infant nutrition primarily comes from developed economies due to their higher disposable incomes, busy lifestyles, and increasing instances of iron deficiency among infants.
In contrast, the personal care product application segment is predicted to experience the most rapid CAGR during the forecast period. This growth can be attributed to the growing demand for lactoferrin in the personal care industry, thanks to its moisturizing properties and inherent abilities to reduce skin inflammation by inhibiting the production of cytokine mediators responsible for inflammation. One of the significant advantages of lactoferrin is its potential use as a non-toxic and anti-cancer agent.
Major
companies operating in Global Lactoferrin Market are:
- Hilmar
Cheese Co Inc
- Pharming
Group NV
- Royal
FrieslandCampina N.V.
- Synlait
Milk Ltd
- Ingredia
SA
- MP
Biomedicals LLC
- Tatura
Milk Industries Ltd
- Glanbia
PLC
- APS
BioGroup Inc
- ProHealth
Care Inc
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“The global lactoferrin market is poised for continued growth and innovation, driven by the emerging trends. From immune health and pediatrics to nutraceutical advancements and personalized nutrition, lactoferrin is finding its way into an ever-expanding array of products. As research uncovers new health benefits and regulations evolve, the lactoferrin market is set to flourish, providing consumers with an increasing number of options to improve their health and well-being.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Lactoferrin Market By Function (Iron Absorption, Anti-inflammatory, Intestinal Flora Protection, Antibacterial, Immune Cell Stimulation, Antioxidant), By Application (Food & Beverages, Infant Formula, Sports & Functional Foods, Pharmaceuticals, Personal Care Products, Animal Feed), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Lactoferrin Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Lactoferrin Market.
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