The value of the global lactoferrin market was projected to reach US$ 253.36 million in 2022, and it is anticipated to expand at a consistent CAGR of 8% from 2022 to 2032. The market is anticipated to reach a global valuation of US$ 546.77 Million by the end of 2032.
Demand for skincare products is anticipated to rise along with steady growth in the lactoferrin market as consumers become more conscious of food and health issues and skin-related ailments are on the rise.
Download Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7089
Strategies of Global Players
Small and medium-sized businesses dominate the lactoferrin market, which is highly fragmented. The main cause is the logistical indifference caused by producers of dairy products in different countries. The perishable nature of dairy products creates a disparity between producers and small and medium businesses that are able to take advantage by sourcing local dairy products in good time to meet their production needs.
A number of factors are likely to impact the distribution of final products, including the intensity of competition, the size and development of the local market, and labor availability. Hypermarkets, online shopping platforms, supermarkets, convenience stores and specialty shops are the most common forms of retailing for most companies. The objective of the new players as well as the existing ones is to achieve a higher market share during the forecast period by focusing on their capacity expansion. by the end of 2032, this will lead to a highly fragmented market.
- In 2021, Beston Global Food Company Ltd expanded its capacity for 95% pure lactoferrin to 25 metric tons per year to meet the rising demand.
- In September 2020, Frieslandcampina DOMO declared its initiative to increase the production of lactoferrin in Veghel from 9 tons to around 60 tonnes by 2022 to meet the growing demand in the market, especially for infant formula.
- An Australian company, Jatenergy Ltd., had announced a surge in sales of dairy-based infant nutrition products, which contain lactoferrin. In March 2020, the company reported a USD 5.4 million monthly sale.
Key Projections
- The global lactoferrin market is expected to reach a market size worth US$ 253.36 Mn at the end of 2022.
- With a revenue share of over 41.5%, Asia Pacific will remain the largest regional market throughout the forecast period.
- Iron absorption market accounted for over 28.5% of the overall revenue.
- Infant formula segment accounts for more than 38.5% of the market’s revenue
- North America to accumulate a market share of 38% in 2022.
Increased awareness about maintaining gut health is prompting consumers to opt for lactoferrin products, providing manufacturers with the opportunity to introduce new products into the market, says a Fact.MR analyst.
Market Titans
- Pharming Group NV
- Ferrin-tech LLC
- Milei GmbH
- InVitria
- Farbest Brands
- Fonterra Cooperative Group Ltd.
- ProHealth
- APS BioGroup
- Glanbia plc
- Friesland Camina
- Hilmar Cheese Company
- Synlait Milk Ltd.
Industry Survey
By Function:
- Antioxidant
- Immune Cell Stimulation
- Antibacterial
- Intestinal Flora Protection
- Anti-inflammatory
- Iron Absorption
By Application:
- Animal Feed
- Personal Care Products
- Pharmaceuticals
- Sports & Functional Foods
- Infant Formula
- Food & Beverages
The Lactoferrin market report will improve the revenue impact of businesses in various industries by:
- Providing a framework tailored toward understanding the attractiveness quotient of various products/solutions/technologies in the Lactoferrin market
- Guiding stakeholders to identify key problem areas pertaining to their consolidation strategies in the global Lactoferrin market and offers solutions
- Assessing the impact of changing regulatory dynamics in the regions in which companies are keen on expanding their footprints
- Provides understanding of disruptive technology trends to help businesses make their transitions smoothly
- Helping leading companies make strategy recalibrations ahead of their competitors and peers
- Offers insights into promising synergies for top players aiming to retain their leadership position in the Lactoferrin market.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=7089
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Email : [email protected]