Global Lactoferrin Market- Industry Trends & Forecast Report 2027
Food2021-03-12
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A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting revealed that the global lactoferrin market was worth USD 225.22 million in 2020 and is further projected to reach USD 393.12 million by 2027, at a CAGR of 7.9% during the forecast period (2021-2027). The market is driven by factors, such as growing health awareness among the population, an increasing number of skin diseases, and growing cases of anemia, among others.
Lactoferrin is a natural iron-binding milk glycoprotein found in human milk and bovine milk. Bovine is a term used to refer to domestic animals of the species Bostaurus (cattle) or Bubalusbubalis (water buffalo), and also includes hybrids like Beefalo. The concentration of lactoferrin is highest in human colostrum. Colostrum is the term used for the first form of milk produced from the mammary glands of mammals. The concentration of lactoferrin in the human colostrum can be as high as six times of bovine colostrum.
The increasing number of skin diseases is projected to contribute to the growth of the global lactoferrin market.
Acne, a type of skin disease is estimated to affect 9.4% of the global population, which makes it the 8th most prevalent disease in the world. Acne is one of the most prevalent skin diseases in the United States, affecting up to 50 million people per year. Between the ages of 12 and 24, nearly 85% of people suffer from mild acne. Acne can strike at any age, and it can last well into one's 30s or 40s. Acne affects 15% of women, and the number of adults suffering from it is rising by the day. Lactoferrin, combined with Vitamin E and Zinc, is used to treat acne since it has antibacterial, anti-inflammatory, and antimicrobial effects.
Side-effects of high doses of lactoferrin are likely to impede the market growth of the global lactoferrin market.
In normal doses, lactoferrin has no side effects; although it can cause complications when used in high doses. Diarrhea, skin rashes, loss of appetite, fatigue, chills, and constipation are some of the side effects of consuming high doses of lactoferrin. Though there are no long-term side effects of lactoferrin, pregnant women are advised to consult their doctors before consuming it. These limitations are likely to act as restraints for the global lactoferrin market and impede market growth.
Infant formulation accounted for the largest share in the global lactoferrin market in 2020
With a large population of children and infants suffering from anemia, lactoferrin is being used in infant formulations. As per WHO data, around 42% of the children below the age of 5 years and 40% of pregnant women suffer from anemia around the globe. Although ferrous sulfate is used for curing anemia, lactoferrin is seen as a new-age solution for curing anemia. It has high bioavailability, excellent iron-binding properties, and several other benefits. Moreover, since it is extracted from milk, it is completely natural. All these factors have contributed towards increasing the use of lactoferrin in infant formulation, thus affecting the global lactoferrin positively. These factors are also expected to drive the growth of the global lactoferrin market during the forecast period.
The Leading Players operating in the Market are Metagenics, Inc., Westland Cooperative Dairy Co., Ltd, Morinaga Milk Industry Co., Ltd, Synlait Milk Ltd., Ingredia SA, Bega Bionutrients, MP Biomedicals, Tatura Milk Industries Ltd, Glanbia PLC, APS BioGroup, and other are the key players operating in global lactoferrin market.
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