Lactoferrin Market Size, Share & Trends Analysis Report By Function, By Application, By Region And Segment Forecasts, 2019 - 2025
NEW YORK, Dec. 11, 2019 /PRNewswire/ --
Lactoferrin Market Size, Share & Trends Analysis Report By Function (Iron Absorption, Antibacterial, Intestinal Flora Protection), By Application (Food & Beverages, Infant Formula, Sports & Functional Food), By Region, And Segment Forecasts, 2019 - 2025
Read the full report: https://www.reportlinker.com/p05830579/?utm_source=PRN
The global lactoferrin market size is projected to reach USD 315.1 million by 2025, expanding at a CAGR of 8.8%. Rising demand for the product in infant nutrition, sports supplements, and personal care formulations, owing to their high nutrient content and superior health benefits, is expected to drive the market growth during the forecast period.
Although breast milk is the optimal and natural infant food, the length and rate of breastfeeding has been changing drastically, especially in the developing economies.This can be attributed to the rise in the number of working women, along with the insufficient milk production.
This is anticipated to create opportunities for lactoferrin manufacturers, as women have started looking for alternatives of breast milk.
Consumers across the globe are experiencing deficiency in iron with the WHO stating that iron is the number one micronutrient deficiency worldwide. According to the medical practitioners 87% of consumers have a problem with iron supplements as it usually causes internal discomfort and stomach aches.
Iron supplements typically have an absorption rate of 20% leaving the remaining 80% nourishment for bacteria, which creates stomach aches. This offers the lactoferrin market with immense growth opportunities for the coming years, as iron absorption is among the major functions of the product.
Asia Pacific is expected to grow at the highest CAGR of over 9% during the forecast period.The market is anticipated to witness increasing demand for lactoferrin over the forecast period as key participants adopted strategies such as the introduction of their brands in untapped economies of South East Asian countries.
Countries such as Japan and Australia have experienced heightened awareness regarding the health benefits of lactoferrin over the years, which is expected to strengthen regional growth over the forecast period.
Further key findings from the report suggest:
• Among functions, the iron absorption segment accounted for the largest share of over 29% of the overall market revenues in 2018. The growth of this segment is expected to be supported by the growing incidence of iron deficiency and related disorders in consumers
• Lactoferrin helps in restricting a wide range of pathogenic bacteria and other microbes as they need a supply of free iron to multiply and lactoferrin's ability to bind iron makes it difficult for the microbes to grow. This is expected to drive the product demand for antibacterial functions, during the forecast period.
• The infant formula application segment dominated the market in 2018, in terms of revenues, and is expected to grow at a CAGR of nearly 9% during the forecast period
• The rising population of working women and increasing prevalence of iron deficiency among infants are expected to drive the product demand in infant nutrition applications over the coming years
• New product development, expansion of operation facilities, partnerships, collaborations, and acquisitions are among the major strategies adopted by key players to strengthen and sustain their competitive positions in the market
Read the full report: https://www.reportlinker.com/p05830579/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article