Lactoferrin Market Is Expected To Grow As Of Rising Awareness Amongst Consumers Regarding Health And Diet
Lactoferrin Industry Overview
The global lactoferrin market size was valued at USD 219.2 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.2% from 2021 to 2028.
The rising awareness amongst consumers regarding health and diet, along with the rising prevalence of skin-related health conditions, is expected to boost the demand. Lactoferrin is believed to have antiviral, antibacterial, antiparasitic, catalytic, and anti-allergic functions and properties, which is anticipated to drive the product demand from the pharmaceutical and personal care industries. According to the American Academy of Dermatology, acne is the most prevalent skin condition in the U.S., affecting over 40 to 50 million people in the country every year.
The acne treatment market is also subsequently expected to witness strong growth during the forecast period. Various clinical trials have proven the ability of lactoferrin to effectively treat acne and other such skin conditions. Due to its anti-inflammatory properties, lactoferrin gets rid of the main food source for pathogens by neutralizing its contributors. According to the World Health Organization (WHO), 50% of women and 42% men reported experiencing acne during their twenties, 35% women and 20% men reported experiencing acne during their thirties, 26% women and 12% men reported experiencing acne during their forties, and 15% women and 7% men reported experiencing acne during their fifties.
Gather more insights about the market drivers, restrains and growth of the Global Lactoferrin Market
The growing prevalence of acne in developed nations including the U.S., Canada, and Germany, along with proven testimonials and research findings for lactoferrin-induced acne treatment is expected to drive growth avenues for product manufacturers over the forecast period. The global personal care market is a multibillion-dollar industry and is experiencing a shift from traditional brick-and-mortar stores to specialty and online stores. Women consumers of all age groups across the world prefer a cross-channel purchase approach, where they visit online portals to understand the product while purchasing from an offline retail outlet. Consumer awareness due to product marketing initiatives taken by brand owners coupled with an inclination toward organic products with minimal side effects and higher efficiency is expected to further bolster the product demand.
Lactoferrin is extensively applied in reducing dermal immune response and healing wounds by stimulating connective tissue with epidermal cells by regenerating the skin. Its soothing effect on inflammations prevents the formation of larger zits and cysts. Many clinical trials have proven that lactoferrin can also be effectively used in the treatment and prevention of gastrointestinal inflammatory cases. Rising consumer awareness regarding gut health coupled with the increasing product demand to prevent irritable bowel movement and bloating and to reduce intestinal inflammation is anticipated to boost the growth of the market for lactoferrin over the forecast period.
Manufacturers are focused on understanding consumer buying patterns to serve the ever-changing demands. Companies have started investing in packaging and up-gradation of ingredients depending on whether the point-of-purchase is a specialty store, club warehouse, or online shopping portal. Consumers are naturally inclined toward organic products that have a lower carbon footprint. Research studies and experiments further strengthen the benefits offered by lactoferrin in various applications that are expected to propel its demand in the forthcoming years.
Lactoferrin possesses anti-inflammatory effects that could be significant in the pathophysiology of cases concerning COVID-19. In 2020, the unavailability of a cure or vaccine for the infection triggered a high demand for immunity boosters. Preventive measures for the COVID-19 infection have gained high popularity across the world, which led to the additional boost in demand for lactoferrin-based products in 2020.
The demand for lactoferrin-based infant formula products experienced immense demand, especially in the Asia Pacific region after the outbreak of COVID-19. This demand was backed by the growing acceptance of these products due to their anti-viral properties. For instance, Jatenergy Ltd., an Australian company, had announced a hike in sales in dairy-based infant nutrition products, which have lactoferrin as an ingredient. The company held a recorded monthly sale of USD 5.4 million in March. The sales decreased in the second quarter of the year, however, remained high in contrast with previous year’s sales.
Browse through Grand View Research's Nutraceuticals & Functional Foods Industry Research Reports.
Infant Formula Ingredients Market - The global infant formula ingredients market size was estimated at USD 20.4 billion in 2018, and is projected to exhibit a CAGR of 9.6% during the forecast period from 2019 to 2025. The industry growth is majorly driven by the growing number of working women population in middle-class families across various regions including North America, Asia Pacific, and Central and South America.
North America Dietary Supplements Market - The North America dietary supplements market size was valued at USD 50,118.6 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.6 % from 2021 to 2028. The increasing consumer awareness regarding personal health and wellbeing is one of the key drivers of the market. Furthermore, growing demand for preventive health products to lead healthy & disease-free life and rising number of fitness centers, health clubs, & gymnasiums are expected to drive the market over the forecast period.
Lactoferrin Market Segmentation
Grand View Research has segmented the global lactoferrin market report based on function, application, and region:
Lactoferrin Function Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)
Iron Absorption
Anti-inflammatory
Intestinal Flora Protection
Antibacterial
Immune Cell Stimulation
Antioxidant
Lactoferrin Application Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)
Food & Beverages
Infant Formula
Sports & Functional Foods
Pharmaceuticals
Personal Care Products
Animal Feed
Lactoferrin Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Companies profiled:
Some of the prominent players in the lactoferrin market include:
Hilmar Cheese Company
Pharming Group NV
FrieslandCamina
Synlait Milk Ltd.
Ingredia SA
MP Biomedicals
Tatura Milk Industries Ltd.
Glanbia plc
APS BioGroup
ProHealth
Fonterra Cooperative Group Ltd.
Farbest Brands
InVitria
Milei GmbH
Ferrin-tech LLC
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