The global lactoferrin market size is expected to reach USD 167.9 million by 2025
LONDON, Oct. 8, 2018 /PRNewswire/ -- Lactoferrin Market Size And Forecast, By Function, By Application (Food & Beverages, Infant Formula, Sports & Functional Food, Pharmaceuticals, Personal Care Products), And Trend Analysis, 2015 - 2025
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The global lactoferrin market size is expected to reach USD 167.9 million by 2025. Growing applications in infant formula and functional products are anticipated to drive the market. Furthermore, rising awareness regarding the importance of weight management among working professionals owing to hectic lifestyle and fluctuating dieting patterns is projected to boost the requirement for sports nutrition products. As a result, lactoferrin is expected to gain traction as an anti-oxidant ingredient in sports nutrition sector in near future.
Asia Pacific market revenue was more than USD 30 million in 2017. It is expected to emerge as the fastest-growing region over the forecast period. Strong demand from countries such as China and India owing to high birth rate along with rising awareness regarding advantages of lactoferrin consumption are likely to favor regional market growth in the forthcoming years.
Manufacturing companies in lactoferrin market including, Synlait Milk Ltd., Glanbia plc, and Fonterra Co-operative Group Ltd. have forward integrated their operations and ventured into raw material supplying, manufacturing and distributing, as well as end-use channels. Integration across the value chain subsequently decreases the price of raw material procurement, further affecting manufacturing cost of the end product.
Infant formula application segment is expected to witness significant growth over the forecast period. Lactoferrin is known to have capabilities of iron absorption, thus binding free radicals of iron. It ensures proper growth of infants in addition to systematic bodily functions. As a result, iron absorption segment is expected to reach USD 151.9 million by the end of 2025.
Lactoferrin promotes immune cell activation and proliferation, thereby modulating the immune system. It stimulates the production of cytokines, which are responsible for cell activation in the immune system. Such inherent benefits have facilitated usage of lactoferrin in infant formulas.
Global rise in inclination towards preventive healthcare coupled with rising disposable income and standard of living has benefitted the pharmaceutical demand in the recent past. This trend is expected to remain constant over the forecast period and drive adoption of lactoferrin in pharmaceutical applications.
Key lactoferrin market participants include Glanbia Nutritionals; Fonterra Co-Operative Group Ltd.; Vitalus Nutrition Inc.; Synlait Milk Ltd.; Ingredia SA; and Metagenics. New product development along with establishment of strategic partnerships with key distributors from developing countries including, China, India, Bangladesh, and Vietnam are some of the key factors critical for success in the market over the years to come.
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