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The global bovine lactoferrin market size was USD 507.3 million in 2018 and projected to reach USD 551.7 million by 2026, exhibiting a CAGR of 1.0% from 2019 to 2026.
Lactoferrin as an ingredient has widespread clinical benefits which range from treating diarrhea and hepatitis C, to protection against bacterial infections and cancer. These pharmacological and neutraceutical benefits of lactoferrin have been pivotal in its widespread applications including pharmaceuticals, food, and other industries. The major source of lactoferrin includes milk (both human milk, and bovine milk), where human milk concentrations are higher than those found in the bovine milk.
However, despite the efforts being undertaken by regional government agencies and non-profit organizations for promoting breast-feeding, the comparatively lower rates of breast-feeding have been instrumental in driving the demand for infant formula with added lactoferrin, especially in China. Bovine lactoferrin is a product derived from bovine milk, as a product of fractionation of the milk, along with other by-products such as cheese, whey protein, etc.
The demand for lactoferrin has been substantiated by the growing consumption of infant formula, especially in emerging countries such as China. Other countries in Asia Pacific including India, Japan, Malaysia, etc., along with lucrative and developed markets such as U.S., and European countries together account for a significant consumption of infant formula. However, regulatory scenarios and pricing have been instrumental in limited demand and consumption of infant formula with added bovine lactoferrin in these countries.
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According to International Dairy Foods Association, and other non-profit organizations, an estimated 2.5 Million tons of infant formula was consumed in 2018 globally. China was the most dominant country, accounting for an estimated 40% to 45% of the total infant formula consumption in 2018, followed by U.S., and other countries. The pharmaceuticals, food, and dietary supplements segments currently demonstrate limited demand for bovine lactoferrin in the global market. However, various clinical trials being undertaken to establish efficiency and clinical benefits of lactoferrin in pharmaceuticals, is projected to fuel the demand for the product during the forecast period.
“Growing Demand for Infant Formula in Emerging and Developed Countries if Fuelling the Demand for Lactoferrin”
There is a huge demand for lactoferrin as an added ingredient from the infant formula market, which has constantly soared over the years citing the clinical benefits of added lactoferrin in infant formula, for infants and pediatrics. However, other industry verticals have still been in the nascent stages to explore the clinical effectiveness of lactoferrin, especially in the pharmaceutical industry. Despite growing number of awareness campaigns being undertaken by various government organizations towards increasing emphasis on breastfeeding, there is an increasing number of working women especially in Latin America and Europe, which has hampered the overall breastfeeding rates globally.
According to data published by World Bank, the ratio of female to male labor force, has gradually increased from an estimated 60.0% in 2010, to an estimated 75.0% in 2017. Countries such as Spain, Brazil, Germany, and U.K have registered significant growth in the ratio of female to male labor force during the period. This has led to increasing number of women shifting towards infant formula for feeding children. This along with manufacturers of infant formula introducing new products in the specialty and high variant infant formula with added proteins including lactoferrin, has propelled the demand for lactoferrin-based infant formula in emerging and developed countries.
“Technology Advances in Lactoferrin Manufacturing is Projected to Drive the Demand”
The constant focus of market players towards optimizing the manufacturing processes, is leading to introduction of new techniques of lactoferrin production and offering advanced products in the market. This is anticipated to open new applications for lactoferrin, and fuel the demand and growth of the global bovine lactoferrin market during 2019-2026. The clinical and operational benefits of freeze-drying technique have been instrumental in higher adoption of the technique in manufacturing lactoferrin by market players. Improved quality and purity of the final product, minimal effects of denaturation of the proteins, and better stability are some of the benefits of freeze-dried lactoferrin. This has led to researchers and manufacturers focusing on introducing new techniques of manufacturing lactoferrin by spray-drying or freeze-drying technique, with an aim to reduce operational costs, and offer improved and advanced products. Some companies have been focusing on agglomeration technique along with freeze-drying process to obtain uniform particle size of lactoferrin and improve its solubility.
“Infant Formula Segment Dominated the Global Market in 2018”
Among the applications, infant formula accounted for the dominant share in the global bovine lactoferrin market in 2018. Clinical benefits of added lactoferrin in infant formula for children, combined with declining breast-feeding rates among women in developed countries, have been pivotal in driving the demand and consumption of bovine lactoferrin in infant formula globally. China was the dominant consumer of infant formula in 2018, and also demonstrated higher penetration, and adoption of infant formula brands with added lactoferrin. The reversal of the long-standing one-child policy in the country in 2015, led to marginal increase in number of births in the country. These factors combined, have been driving the demand for infant formula with added lactoferrin, subsequently driving the growth of the lactoferrin market.
Other countries including India, Japan, and U.S., have so far limited their demand for infant formula brands with added lactoferrin, due to factors such as regulatory issues in the U.S., and higher pricing of infant formula with added lactoferrin in Asia Pacific region. However, changing regulatory reforms pertaining to added lactoferrin in the U.S., and European countries, along with increasing per capita expenditure in Asia Pacific countries, is projected to fuel the demand for infant formula with added lactoferrin during the forecast period. This will further augment the growth of the infant formula segment in the global bovine lactoferrin market.
“Freeze-dried Segment Accounted for Dominant Share in the Global Bovine Lactoferrin Market”
The technical superiorities of freeze-dried lactoferrin including better quality and purity of the product, and comparatively higher iron-binding capacity over spray-dried lactoferrin, are some of the major factors that have led to increasing number of manufacturers using freeze-drying technique for producing lactoferrin. This along with a lower operating cost of freeze-drying technology, has been an important factor driving majority of manufacturers employing the freeze-dyring technology for manufacturing of lactoferrin. These factors are driving the growth of the freeze-dried segment in the global lactoferrin market.
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However, distinct clinical benefits of spray-dried lactoferrin including better solubility and efficient blending capabilities, along with comparatively cheaper technology in terms of overall production costs than that of freeze-drying, are some of the factors leading to increasing number of new, along with established market players entering the spray-dried lactoferrin segment. This combined with growing demand from the pharmaceutical industry for spray-dried lactoferrin, is projected to drive the segment during the forecast period.
North America generated a revenue of USD 85.1 Million in the year 2018. According to the American Dairy Association, out of the total consumption of 2.5 million tons of infant formula in 2018, the U.S. consumed an estimated 150,000 tons of infant formula. However, U.S. FDA’s GRAS notice previously did not promote or approve the use of added lactoferrin in infant formula in the country. This had led to a limited demand for lactoferrin, in the second largest single country for infant formula consumption. However, recent regulatory reforms, have approved use of added lactoferrin in infant formula in the U.S. This led to companies such as Synlait Ltd., receiving approval from the U.S. FDA, to export its lactoferrin to the U.S. market.
Europe bovine lactoferrin market share accounted for a significant growth in 2018. Growing demand for neutraceuticals, dietary supplements, infant formula and pharmaceutical products with added lactoferrin in countries such as U.K., Germany, France, and other European countries, are propelling the growth of the lactoferrin market in the region.
North America Bovine Lactoferrin Market Size, 2018
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Asia Pacific countries including China, have been dominant in the consumption of lactoferrin in 2018. Primary reasons attributed to the dominance in demand for the product include higher consumption of infant formula, along with rapidly growing food, and pharmaceutical industries in the region. Market in Latin America, and the Middle East & Africa are expected to register moderate growth during forecast period.
“MILEI GmbH, Synlait Ltd., and Glanbia Plc., Dominated the Global Bovine Lactoferrin Market”
Presence of strong key players and growing investments in the research sector for the development of bovine lactoferrin using new technologies, are some factors attributable to the dominance of MILEI GmbH, Synlait Ltd., and Glanbia Plc., in the global bovine lactoferrin market. The widespread distribution network of these players, along with capacity expansion in the market, to cater the ever increasing demand for bovine lactoferrin from emerging and developed countries, have been pivotal for their dominance in the global market. In April 2018, Synlait Ltd., announced the expansion of its Dunsandel Plant, which will double its lactoferrin production when working at full capacity.
Other players focusing on capacity expansions, are projected to gain market share during the forecast period. For instance, In February 2019, Bega Cheese Ltd., announced the building of new manufacturing plant in Koriot, Australia. With this new facility Bega Cheese is expected to double its current production of lactoferrin annually. Other players in the bovine lactoferrin market report include Armor Proteines, FrieslandCampina DOMO, Warrnambool Cheese and Butter Factory Company Holdings Limited, Hilmar Cheese Company, Inc., Westland Co-operative Dairy Company Limited, Murray Goulburn Co-operative Co. Limited (Saputo Dairy Australia Pty Ltd), Ingredia, and Nutriscience USA LLC.
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Along with this, the report analysis comprises of global lactoferrin market dynamics and competitive landscape. Additionally, the report offers insights on the pricing analysis – bovine lactoferrin 2015-2026, overview of other applications of bovine lactoferrin undergoing clinical trials, technology advances in bovine lactoferrin production, and overview of the China infant formula market.
Value (USD Billion)
Fortune Business Insights says that the global bovine lactoferrin market is projected to reach USD 551.7 Million by 2026.
In 2018, the global bovine lactoferrin market was valued at USD 507.3 Million.
Growing at a CAGR of 1.0%, the global bovine lactoferrin market will exhibit moderate growth in the forecast period (2019-2026)
Infant formula segment is expected to be the leading segment in global bovine lactoferrin market during the forecast period.
Growing demand for lactoferrin added infant formula in emerging and developed countries globally, is driving the demand and growth of the global lactoferrin market.
MILEI GmbH, Synlait Ltd., and Glanbia Plc., are the top players in the bovine lactoferrin market.
Asia Pacific is expected to hold the highest market share in the bovine lactoferrin market.
Capacity expansion by market players to cater the ever increasing demand for lactoferrin, along with significant price fluctuations in the global market, are some of the major trends observed in the global lactoferrin market.
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