Lactoferrin Market - Growth, Trends and Forecast (2019 - 2024)
NEW YORK, Jan. 13, 2020 /PRNewswire/ --
Market Overview
The global lactoferrin market is highly driven by the increasing usage of lactoferrin in various applications, such as infant formula, food supplements, sports nutrition, dietetic food, non-alcoholic beverages, bakery etc. It helps in developing resistance in newborns toward various infections and also has many biological activities that are essential for maintaining infant health. The European Food Safety Authority (EFSA) categorized lactoferrin as a safe milk protein to be used in various applications. The global lactoferrin market was dominated by Europe, followed by North America and Asia-Pacific. With the growing demand and wide range of applications in Asia-Pacific, the market for lactoferrin has a high growth potential in developing countries.
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Scope of the Report
Global Lactoferrin Market is segmented by End-User Application into Food and Beverage, Infant Nutrition, Sports and Functional Supplements, Pharmaceutical Industry, Animal Feed and Personal Care and Cosmetics. The geographical analysis of the market has also been included in the market.
Key Market Trends
Strong Growth Potential In Developing Countries
The consumer's preference for cosmeceutical products that combine cosmetic and pharmaceutical features, such as acne treatment and anti-aging, are increasingly becoming popular and are estimated to witness growth at 10% - 20% per annum in the Asia-Pacific region. Personal care is a major market in China, Australia, and India. Hence, lactoferrin is expected to record a surging demand for its applications in acne care products, as lactoferrin combined with vitamin A and zinc acts as a key ingredient for mild to moderate acne. Dairy proteins are considered the most important sources of bioactive peptide. There has been an increase in the usage of these peptides in various sports nutrition and nutraceuticals owing to the rise in awareness on various health issues, along with growing population and increasing disposable income.
Sports And Functional Supplements Segment Holds The Major Share
Sports and Functional Supplements are the major application of lactoferrin. The increasing participation and the awareness given for sports in addition with the ageing population of the developed countries are the key factors driving the demand for supplements market. The protein necessity of the fitness world and advantages associated with lactoferrin-based supplements, especially its iron binding property, is boosting the market. Manufacturers are conducting research to incorporate lactoferrin in supplement formulation and expand their product portfolio. Incorporating lactoferrin has many advantages such as accelerates bone and joints healing, prevents bone loss induced by ovariectomy.
Competitive Landscape
The global lactoferrin market is high concentrated market with the presence of various regional and global players. The major players of the market has its presence all across the globe. Companies try to have a competitive advantage by expanding their product range, differentiation, functional benefits etc. The market is dominated by players, like Synlait Milk, Fonterra, Bega Cheese Ltd, FrienslandCampina etc.
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