Bovine Lactoferrin Market Size, Share | 2032

Report Description

Bovine Lactoferrin Market Outlook 2032

The global bovine lactoferrin market size was USD 713.4 Billion in 2023 and is likely to reach USD 1854.7 Billion by 2032, expanding at a CAGR of 11.2% during 2024–2032. The market growth is attributed to the rising demand for nutritional meals and dietary supplements across the globe.

Lactoferrin is a naturally occurring protein, extracted from cow milk, is gaining recognition for its immune-boosting, anti-inflammatory, and anti-microbial properties. The effectiveness of lactoferrin in treating skin conditions such as acne and its other properties such as being antibacterial, antiviral, and anti-inflammatory are driving the market. Its diverse health benefits and expanding applications boost the bovine lactoferrin market.

• In June 2021, Beston Global Food Company Ltd. announced a 95% pure lactoferrin production capacity expansion at the Jervois dairy factory in Australia, capable of producing up to 25 million tons of lactoferrin annually.

• According to 2020 Annual Reports, Noumi Limited also aims to maximize production capacity their Shepparton plants. These expansions are expected to fill the supply-demand gap and boost the market revenue.
  

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Impact of Artificial Intelligence (AI) in the Bovine Lactoferrin Market

The use of artificial intelligence is likely to boost the bovine lactoferrin market. AI is used in various industries, including the dairy industry, to optimize supply chains, improve quality control, accelerate research & development, and tailor dairy products to individual nutritional needs.

Machine learning algorithms enhance forecasting accuracy, reduce waste, and improve efficiency. AI technologies, such as computer vision, detect contaminants and monitor production processes, ensuring the purity and safety of bovine lactoferrin. AI-powered analytics tools guide strategic decisions in the production, marketing, and positioning of products.

AI technologies are increasingly being used in precision agriculture, monitoring health and well-being of dairy cattle, potentially influencing the quality and quantity of milk-derived products. The specific impact of AI on the bovine lactoferrin market depend on the integration of AI technologies by businesses.

Bovine Lactoferrin Market Dynamics

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Major Drivers

Increasing demand for natural dietary supplements above chemical molecules is a primary factor driving the market. The effectiveness of the treatment of diseases such as stomach and intestinal ulcers, diarrhea, hepatitis C, improvisation in immune health, & antibacterial food supplements boost the market. For instance,

• In an article published in 2022, ARMOR PROTÉINES' noted that the requirement for lactoferrin to support immunity has risen from 67% in 2020 to 76% in 2022. Furthermore, 64% of people in China are aware of demonstrated advantages of infant formula for young children.

Existing Restraints

Growing awareness about the drawbacks of lactoferrin hamper the market, as it is difficult to extract and purify from cows. It requires an experienced person for the extraction. Additionally, high cost of lactoferrin and lactoferrin-containing items restrains the market. Furthermore, compliances with regulatory standards for food and nutritional supplements is a time-consuming procedure. The market revenue expansion is being hampered by increased government attempts to promote breastfeeding.

Emerging Opportunities

­Growing demand for functional foods and nutraceuticals presents opportunities for market players for incorporating bovine lactoferrin into products that promote health and wellness. Opportunities are likely to arise in the development of cosmetic and personal care products, supplements, or pharmaceutical formulations targeting specific health conditions.

Collaborations between companies in the bovine lactoferrin supply chain and partnerships with research institutions lead to the development of novel products, improved processes, and increased market penetration. Innovations in processing technologies enhance the efficiency and cost-effectiveness of bovine lactoferrin production. New extraction methods, purification techniques, and production scalability open up opportunities in the market.

Scope of the Bovine Lactoferrin Market Report

The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Bovine Lactoferrin Market Segment Insights

Application Segment Analysis

Based on application, the bovine lactoferrin market is segmented into infant formula, pharmaceuticals, nutraceuticals, food, and others. The infant formula segment held a market share of 48% in 2023. Bovine lactoferrin, which is naturally present in breast milk and is crucial in supporting the infant's immune system, when added to infant formula, provides nutritional benefits meeting the needs of an infant. Therefore, the increasing demand for infant formula, due to urbanization, changing lifestyles, and increasing awareness about the importance of early nutrition, is driving the segment.

• In August 2021, Keeping-Mum reported a low breastfeeding rate in the UK. According to the Office of National Statistics, the number of working women in the UK reached 15.7 million in 2022, a 2 million increase in the last ten years. According to the Organization for Economic Co-operation and Development (OECD), the average percentage of working-age women increased from 61.16% in Q1 2019 to 62.36 in Q3 2022.
  

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Product Type Segment Analysis

On the basis of product type, the global bovine lactoferrin market is bifurcated into spray-dried and freeze-dried. The freeze-dried segment accounted for a large share of the market in 2023, due to the longer shelf life of freeze-dried products as compared to products dried by other methods. The need for premium, minimally processed goods, and consumer preferences fuel the segment.

The spray-dried segment is projected to expand at a significant CAGR during the forecast period, due to its flexible, scalable, and controllable approaches for particle engineering and its suitability for bulk applications. Spray-dried bovine lactoferrin is gaining popularity due to its versatility in infant formula, dietary supplements, and food fortification. Its cost-effectiveness and ease of incorporation into capsules, tablets, and sachets make it a popular choice for consumers seeking immune support and gut health benefits. Additionally, its lower energy consumption makes it appealing to environmentally conscious consumers.

Function Segment Analysis

On the basis of function, the market is segregated into iron absorption, immune cell stimulation, antibacterial, anti-inflammatory, antioxidants, and others. The iron absorption segment held a key share of the market in 2023 and is expected to rise significantly during the forecast period. The segment is driven by the numerous advantages for pregnant mothers, undernourished, and anemic populations.

The immune cell stimulation segment is expected to expand at a CAGR of 9% during the forecast period, owing to the possible therapeutic and preventative uses. Rising prevalence of chronic diseases, aging population, growing understanding of the immune system, and advancements in immunotherapies drive the segment. The immune cell stimulation has potential therapeutic and preventative uses, including cancer treatment, managing autoimmune diseases, preventing infections, restoring immune function in weakened individuals, accelerating wound healing and tissue regeneration, and addressing age-related immune decline. Government initiatives, public awareness, and technological advancements contribute to the segment growth.

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Regional Outlook

In terms of region, the global bovine lactoferrin market is classified as Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. Asia Pacific dominates the global bovine lactoferrin market with a large market revenue share in 2023. Asia Pacific held 43.2% of market share in 2023, due to increased population and consumer buying ability. Increasing birth rates, working mothers, and awareness of the nutritional benefits of infant formula fuel the demand for bovine lactoferrin in the region, fueling the market. For instance,

• In August 2022, TurtleTree, a Singapore-based biotech company, introduced advanced manufacturing technology to produce large-scale bovine lactoferrin using precision fermentation, thereby increasing supply to meet the regional demand.

North America held a significant market revenue share in 2023, with domestic players expanding lactoferrin production capacity and increasing dietary supplement consumption in the region. For instance,

• According to the Council for Responsible Nutrition, 84% of people in the US use supplements, with the high usage among women, older adults, educated individuals, and higher-income households.
  

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