VALLEY COTTAGE, New York, July 19, 2016 /PRNewswire/ --
Colostrum is gaining preference as an essential component in food and beverages industry. Future Market Insights (FMI) estimates global colostrum volume to exceed 10,331.5 tonnes by 2016 end and represent market value of over US$ 1367.4 Mn by 2016 end.
Increasing demand for colostrum can be attributed to it being a major source of immunoglobulin - with higher amount of IgG - that strengthens the immune system and helps in reducing signs of ageing. Various colostrum-based products such as whole colostrum powder, skim colostrum powder and specialty colostrum powder are available in the market. Increasing demand for probiotic colostrum-based products is anticipated to fuel growth of the global colostrum market in the near future.
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In terms of application, infant food is the largest segment in the global colostrum market. This is mainly attributed to increasing number of branded infant food products being prescribed by physicians, paediatricians, pharmacists and doctors. Due to the aforementioned factors, infant food segment is expected to expand at a CAGR of 3.7% in terms of value and 3.5% in terms of volume over the forecast period (2016-2026).
In terms of revenue generation, whole colostrum powder is the most attractive segment and is estimated to account for US$ 645.4 Mn by 2016 end. FMI estimates whole colostrum powder segment to exceed 6,508.6 tonnes by 2016 end; an increase of 2.3% in 2016 over 2015.
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Asia Pacific excluding Japan (APEJ) is expected to remain the largest market for colostrum. By 2026 end, the APEJ market is expected to be valued at US$ 833.8 Mn and 11,135.2 metric tonnes in terms of volume. The North America market is anticipated to exhibit significant growth over the forecast period.
APS BioGroup, La Belle, Inc., Ingredia Nutritional, The Saskatoon Colostrum Co. Ltd, Biostrum Nutritech Pvt. Ltd, Biotaris B.V., NIG Nutritionals Limited, Good Health NZ Products Ltd, Sterling Technology and Cuprem Inc. are some of the market leaders identified across the value chain in the global colostrum market landscape. Leading companies are focusing on expanding their production capacity and launching new product offerings in a bid to increase market share, expand customer base and achieve a competitive edge.
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Long-term outlook: According to FMI analysis the global colostrum market is expected to maintain a positive outlook, with revenue projected to reach US$ 1943.5 Mn by 2026. In terms of value, the global colostrum market is anticipated to expand at a CAGR of 3.6% during the forecast period. In terms of volume, the global colostrum market is anticipated to expand at a CAGR of 3.2% during the forecast period.
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SOURCE Future Market Insights