Press release
Lactoferrin sales are expected to surge at a CAGR of 8% From 2022 to 2032
Lactoferrin Market
Lactoferrin, with potential anti-inflammatory effects relevant to COVID-19 cases, witnessed increased demand as immunity boosters during the pandemic. The popularity of lactoferrin-based products surged in 2020, especially in Asia Pacific, with a notable demand for lactoferrin-based infant formulas.
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As consumers become more health-conscious, coupled with a rise in skin-related issues, the demand for skincare products is expected to grow, contributing to the steady expansion of the lactoferrin market.
Key Insights from the Market Study:
The global lactoferrin market is projected to reach a market size of US$ 253.36 million by the end of 2022.
Asia Pacific, holding a revenue share of over 41.5%, will remain the largest regional market throughout the forecast period.
The iron absorption market contributed to over 28.5% of the overall revenue.
The infant formula segment accounts for more than 38.5% of the market's revenue.
North America is expected to accumulate a market share of 38% in 2022.
North America - Second Lucrative Region: In 2020, North American lactoferrin sales were second only to Asia, with the United States emerging as the largest market. The region experienced an increase in digestive product consumption due to a rise in digestive distresses. Factors such as the growth of specialty stores, hypermarkets, and supermarkets, along with incentivized marketing programs, are expected to drive market growth. The North American market is projected to reach a market value of 38% in 2022.
Browse Full Report: https://www.factmr.com/report/lactoferrin-market
Competitive Landscape:
The lactoferrin market is highly fragmented, with small and medium-sized businesses dominating. The perishable nature of dairy products contributes to logistical challenges. The market is characterized by various retailing forms, including hypermarkets, online platforms, supermarkets, convenience stores, and specialty shops. Market players aim to achieve higher market shares through capacity expansion.
Market Developments:
Beston Global Food Company Ltd expanded its lactoferrin production capacity to 25 metric tons per year to meet rising demand.
Frieslandcampina DOMO increased lactoferrin production from 9 tons to around 60 tonnes by 2022 to meet market demand.
Jatenergy Ltd. reported a surge in sales of dairy-based infant nutrition products containing lactoferrin, reaching a monthly sale of USD 5.4 million.
Key Players in the Lactoferrin Market:
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.
Market Segmentations:
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
Related Reports:
Global market for instant soup is estimated at 7.64 billion in 2024
https://www.factmr.com/report/instant-soup-market
Fruit powder sales are forecasted to reach US$ 104.26 billion By 2034
https://www.factmr.com/report/fruit-powder-market
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