Global Statistics Representing Lactoferrin Market Scenario
Lactoferrin is a multifunctional, iron-binding protein found in colostrum and breast milk. It plays an important role in improving immunity as it possesses antimicrobial, immunostimulant, anti-inflammatory, and antitumor properties. Also, lactoferrin works effectively in the treatment of stomach and intestinal ulcers, diarrhea, and hepatitis C. Whereas, its antioxidant and antimicrobial properties offer protection against bacterial and viral infections. The product is witnessing huge demand in Asia for a wide variety of nutritional applications, including infant formula, nutritional supplements, food and beverages, and sports nutrition.
Globally, the prevalence of acne is increasing at an alarming rate. For instance, around 50.9% of women and 42.5% of men experience acne during their twenties, the WHO. In the U.S. alone, around 50 million people are suffering from acne, the American Academy of Dermatology, which is further increasing the demand for lactoferrin for acne treatment. For the record, lactoferrin neutralizes acne as it has anti-inflammatory properties. Apart from this, lactoferrin is extensively used as a nutritional ingredient in infant nutrition milk products for improving the immune function of the infants. One of the essential parts of infancy is to ensure adequate nutrition for the development of the child as an early nutritional deficiency can cause a number of illnesses and infections, including pneumonia, which is further boosting the market growth.
In 2018, the global lactoferrin market was valued at USD 206.8 Million and is expected to grow at the CAGR of 7.7% during the forecasted period.
The global lactoferrin market is segmented into product type, application, sales channel, and region.
Based on applications, the global market is segmented into food & beverages, infant nutritional products, personal care products, sports, and functional supplements. The lactoferrin market is majorly driven by its expanding applications in the food and beverage sector. After getting a “novel food” status from The European Food Safety Authority (EFSA), it has been categorized as safe to use in food products, which is why, it is widely used in non-alcoholic beverages, diet food for special medical purposes, and milk-based products, among others. In line with this, a number of companies have started using lactoferrin for the manufacturing of yogurt and specialty formulas.
Based on the sales channel, the market is segmented into direct sales and indirect sales. The manufacturers in the market are inclining towards the direct sales approach. Additionally, a number of players are engaging in strategic partnerships to attend to the growing demand for lactoferrin and to gain a competitive edge, which is further boosting the market growth.
Regionally, the global lactoferrin market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is one of the largest markets for sports and dietary supplements. The strenuous activities performed by athletes deplete the iron level, leading to iron deficiencies, which is further boosting the adoption of lactoferrin in the sports and nutrition sector. Similarly, the demand for dietary supplements has reached an all-time high. As per the CRN Consumer Survey, in 2019, around 77% of Americans consumed dietary supplements.
The Asia Pacific is the fastest growing lactoferrin market. This can be attributed to the rapid urbanization, growing middle-class population, and rising female working population. In the last few years, the breastfeeding rate has been declining significantly across the region. For instance, in China, only 29% of infants are properly breastfed, which is further boosting the demand for lactoferrin-based infant nutrition milk products in the region. However, in 2008, the melamine infant formula caused sickness in over 300,000 babies, which led to the introduction of stringent government regulations. In the past few years, many companies have jumped the bandwagon of establishing and expanding plants to increase their manufacturing capacity of lactoferrin to meet the global demand, which is further boosting the market growth.
Some of the key players in the global lactoferrin market include Saputo Inc., FrieslandCampina, Armor Proteines, Synlait Ltd, Ingredia, Bega Cheese Ltd., NutriScience Innovations LLC., Glanbia plc, MILEI GmbH (Morinaga Milk Group), Taradon Laboratory, The Tatua Co-operative Dairy Company Limited, ERIE, Fonterra Co-operative Group, Ferrin-Tech, LLC, Farbest, and Westland Milk Products (Yili Group).
Saputo Inc. is one of the top ten dairy processors across the globe, a leading cheese manufacturer, fluid milk and cream processor in Canada, a top dairy processor in Australia, and the second-largest dairy processor in Argentina. Through its international sector dairy division and manufacturing based in Australia, it produces Lactoferrin which is primarily used in infant formula and nutraceuticals.
FrieslandCampina—a fully owned subsidiary of Zuivelcooperatie FrieslandCampina U.A. FrieslandCampina’s activities are divided into four market-oriented business groups through which Vivinal Lactoferrin is produced.
Synlait Milk Limited—a subsidiary of Synlait Milk Finance Limited. In April 2017, Synlait became the second player in the world to receive a GRAS (Generally Recognised As Safe) notice from the U.S. Food and Drug Administration (FDA) to export its lactoferrin to the U.S. for infant and toddler formula.
Bega Cheese Limited operates through two business segments: Bega Cheese and Tatura Milk. The Bega Cheese segment manufactures natural cheese, processed cheese, powders, butter, and packaged cheese products. The Tatura Milk segment manufactures and packages cream cheese, butter, powders, and nutrition.
NutriScience Innovations (NSI) is a leading supplier of high-quality nutritional and functional food ingredients that offers its products to a number of business verticals, including nutritional & dietary supplement, nutraceutical, functional food & beverage, personal care, and cosmetic industries by providing the highest quality ingredients & materials with exceptional technical and customer service.
Glanbia plc acquired SlimFast in November 2018, a leading provider of weight management and health & wellness products for USD 350 million. The acquisition has enabled the company to enter the consumer category of the weight management market, worth a USD 8 billion. Similarly, SlimFast delivered a strong performance in 2018 as a result of innovation and generated a revenue of USD 247 million. The company has a strong market presence in the U.S. and the U.K.
Lactoferrin Market Segmentation
By Product Type
By Sales Channel
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