The Global Bovine Lactoferrin Market size is expected to reach $716 million by 2030, rising at a market growth of 8.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 409.1 Tonnes, experiencing a growth of 9.2% (2019-2022).
Bovine lactoferrin's potential benefits for skin health contribute to its inclusion in premium skincare products. Consumers with higher disposable incomes are likelier to invest in skincare items emphasizing health and anti-aging properties. Consequently, the pharmaceutical segment would generate approximately 11.84% share of the market by 2030. Higher disposable incomes often lead to increased consumer confidence. Consumers with more financial resources may be more willing to explore and try new products, contributing to adopting bovine lactoferrin-containing items.
Maintaining the firmness and elasticity of skin involves collagen. Bovine lactoferrin is a key component of anti-aging skincare formulas that try to minimize the appearance of fine lines and wrinkles, which has been examined for its potential to enhance collagen formation. Skincare products that include bovine lactoferrin may contribute to improved moisture retention in the skin. Thus, because of the inclusion in beauty and skincare products, the market is anticipated to increase significantly. Moreover, Chronic diseases are often associated with compromised immune function. Bovine lactoferrin's immune-modulating properties make it valuable in products designed to support and modulate the immune system. This is especially important for people with long-term illnesses that may impact their immune systems. Chronic cardiovascular diseases are a global health concern. Hence, increasing prevalence of chronic diseases has been a pivotal factor in driving the growth of the market.
However, High production costs often lead to higher prices for bovine lactoferrin-containing products. This may result in a substantial segment of the consumer population being unable to afford these products, impeding their market penetration and adoption. Companies facing higher production costs may find competing with rivals offering similar products at lower prices challenging. This competitive disadvantage can impact market share and hinder the growth potential of these companies. Therefore, high production costs of bovine lactoferrin significant challenge that hampers the growth of market.
Moreover, The market is witnessing a surge in immune health supplements, functional foods, and beverages that feature bovine lactoferrin as a key ingredient. Consumers are growing increasingly particular about the substances in the products they consume. The demand for clean-label products with transparent and easily understandable ingredient lists influences the market. Thus, the COVID-19 pandemic had a moderate effect on the market.
By Application Analysis
Based on application, the market is classified into infant formula, dietary supplements, pharmaceutical, and others. In 2022, the infant formula segment witnessed the largest revenue share in the market. Bovine lactoferrin shares structural similarities with human lactoferrin, naturally present in breast milk. This similarity makes bovine lactoferrin an attractive ingredient in infant formula, aiming to replicate some of the health benefits associated with breast milk. Bovine lactoferrin's ability to bind and transport iron is particularly valuable in infant nutrition. Iron is essential for developing the baby's brain and overall growth. Bovine lactoferrin in infant formula supports optimal iron absorption and metabolism.
By Product Type Analysis
By product type, the market is bifurcated into freeze-dried and spray-dried. The spray-dried segment covered a considerable revenue share in the market in 2022. The powder form of spray-dried bovine lactoferrin makes it easy to handle during manufacturing. The dry powder is more convenient to transport, store, and incorporate into formulations. This ease of handling streamlines production processes, contributing to the efficiency of manufacturing operations. Spray-dried bovine lactoferrin's improved solubility and stability make it a versatile ingredient in formulations across multiple industries. It can be readily incorporated into diverse products, including nutritional supplements, infant formula, functional foods, and pharmaceuticals, expanding its application possibilities.
By Function Analysis
On the basis of function, the market is segmented into iron absorption, antibacterial, immune cell stimulation, and others. In 2022, the iron absorption segment dominated the market with maximum revenue share. Bovine lactoferrin is considered a natural iron-binding protein that may facilitate the absorption of dietary iron in the digestive system. As a result, it can be used in products aimed at treating or preventing iron deficiency, a common nutritional concern. Bovine lactoferrin may find applications in sports nutrition products, where iron is essential for oxygen transport and energy metabolism. Bovine lactoferrin can be incorporated into formulations targeting athletes and individuals with increased iron requirements by aiding iron absorption.
By Regional Analysis
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region acquired a significant revenue share in the market. There is a growing awareness among consumers in North America about the health benefits of bovine lactoferrin. North America's prevailing wellness and preventive health trends drive the demand for functional and nutritional ingredients, including bovine lactoferrin. The dietary supplements industry in North America is witnessing significant growth, driven by consumers' desire for convenient and targeted nutritional solutions.
Recent Strategies Deployed in the Market
- Nov-2023: Royal FrieslandCampina N.V., a food and beverage manufacturer, has launched the Nutri Whey ProHeat. The product is a whey protein that remains stable when exposed to heat and is intended for use in the medical nutrition market. Furthermore, the product has excellent taste and texture, including a smooth consistency and a neutral flavor from top-notch Dutch whey.
- Apr-2023: Savencia SA, a food and beverage manufacturer, has acquired Sucesores de Alfredo Williner,a dairy product manufacturer based in Argentina. Through this acquisition, Savencia aims to strengthen its footprint in Argentina and broaden its offerings by providing a diverse range of dairy products through its expanded distribution network.
- Mar-2023: Royal FrieslandCampina N.V., a food and beverage manufacturer, has expanded its footprints with the establishment of a manufacturing facility in the Netherlands. In this new facility, the company will manufacture lactoferrin, which is a highly nutritious protein. Moreover, this facility will allow the company to increase the production of lactoferrin.
- Sep-2022: Fonterra Co-operative Group Limited has expanded its nutrition product range by introducing Nutiani. This new line will include items like lipids, probiotics, and lactoferrin, with a focus on catering to both the medical and everyday nutrition sectors.
- Aug-2022: Bega Cheese Limited, a food and beverage manufacturer, has unveiled Inferrin, a form of microencapsulated lactoferrin. Inferrin introduces new advantages and potential applications for lactoferrin-based products, spanning from foods to dietary supplements.
List of Key Companies Profiled
- Royal FrieslandCampina N.V.
- Fonterra Co-operative Group Limited
- Saputo, Inc.
- Glanbia PLC
- Noumi Limited
- Synlait Milk Limited
- MILEI GmbH (Morinaga Milk Industry Co., Ltd.)
- Bega Cheese Limited
- Beston Global Food Company Limited
- Savencia SA
Global Bovine Lactoferrin Market Report Segmentation
By Application (Volume, Tonnes, USD Million, 2019-2030)
- Infant Formula
- Dietary Supplements
- Pharmaceutical
- Others
By Product Type (Volume, Tonnes, USD Million, 2019-2030)
- Freeze-dried
- Spray-dried.
By Function (Volume, Tonnes, USD Million, 2019-2030)
- Iron Absorption
- Antibacterial
- Immune Cell Stimulation
- Others
By Geography (Volume, Tonnes, USD Million, 2019-2030)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Global Bovine Lactoferrin Market, by Application
- 1.4.2Global Bovine Lactoferrin Market, by Product Type
- 1.4.3Global Bovine Lactoferrin Market, by Function
- 1.4.4Global Bovine Lactoferrin Market, by Geography
- 1.5Methodology for the research
Chapter 2.Market at a Glance
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
- 3.3Porter's Five Forces Analysis
Chapter 4.Strategies Deployed in Bovine Lactoferrin Market
Chapter 5.Global Bovine Lactoferrin Market by Application
- 5.1Global Infant Formula Market by Region
- 5.2Global Dietary Supplements Market by Region
- 5.3Global Pharmaceutical Market by Region
- 5.4Global Others Market by Region
Chapter 6.Global Bovine Lactoferrin Market by Product Type
- 6.1Global Freeze-dried Market by Region
- 6.2Global Spray-dried Market by Region
Chapter 7.Global Bovine Lactoferrin Market by Function
- 7.1Global Iron Absorption Market by Region
- 7.2Global Antibacterial Market by Region
- 7.3Global Immune Cell Stimulation Market by Region
- 7.4Global Others Market by Region
Chapter 8.Global Bovine Lactoferrin Market by Region
- 8.1North America Bovine Lactoferrin Market
- 8.1.1North America Bovine Lactoferrin Market by Application
- 8.1.1.1North America Infant Formula Market by Country
- 8.1.1.2North America Dietary Supplements Market by Country
- 8.1.1.3North America Pharmaceutical Market by Country
- 8.1.1.4North America Others Market by Country
- 8.1.2North America Bovine Lactoferrin Market by Product Type
- 8.1.2.1North America Freeze-dried Market by Country
- 8.1.2.2North America Spray-dried Market by Country
- 8.1.3North America Bovine Lactoferrin Market by Function
- 8.1.3.1North America Iron Absorption Market by Country
- 8.1.3.2North America Antibacterial Market by Country
- 8.1.3.3North America Immune Cell Stimulation Market by Country
- 8.1.3.4North America Others Market by Country
- 8.1.4North America Bovine Lactoferrin Market by Country
- 8.1.4.1US Bovine Lactoferrin Market
- 8.1.4.1.1US Bovine Lactoferrin Market by Application
- 8.1.4.1.2US Bovine Lactoferrin Market by Product Type
- 8.1.4.1.3US Bovine Lactoferrin Market by Function
- 8.1.4.2Canada Bovine Lactoferrin Market
- 8.1.4.2.1Canada Bovine Lactoferrin Market by Application
- 8.1.4.2.2Canada Bovine Lactoferrin Market by Product Type
- 8.1.4.2.3Canada Bovine Lactoferrin Market by Function
- 8.1.4.3Mexico Bovine Lactoferrin Market
- 8.1.4.3.1Mexico Bovine Lactoferrin Market by Application
- 8.1.4.3.2Mexico Bovine Lactoferrin Market by Product Type
- 8.1.4.3.3Mexico Bovine Lactoferrin Market by Function
- 8.1.4.4Rest of North America Bovine Lactoferrin Market
- 8.1.4.4.1Rest of North America Bovine Lactoferrin Market by Application
- 8.1.4.4.2Rest of North America Bovine Lactoferrin Market by Product Type
- 8.1.4.4.3Rest of North America Bovine Lactoferrin Market by Function
- 8.2Europe Bovine Lactoferrin Market
- 8.2.1Europe Bovine Lactoferrin Market by Application
- 8.2.1.1Europe Infant Formula Market by Country
- 8.2.1.2Europe Dietary Supplements Market by Country
- 8.2.1.3Europe Pharmaceutical Market by Country
- 8.2.1.4Europe Others Market by Country
- 8.2.2Europe Bovine Lactoferrin Market by Product Type
- 8.2.2.1Europe Freeze-dried Market by Country
- 8.2.2.2Europe Spray-dried Market by Country
- 8.2.3Europe Bovine Lactoferrin Market by Function
- 8.2.3.1Europe Iron Absorption Market by Country
- 8.2.3.2Europe Antibacterial Market by Country
- 8.2.3.3Europe Immune Cell Stimulation Market by Country
- 8.2.3.4Europe Others Market by Country
- 8.2.4Europe Bovine Lactoferrin Market by Country
- 8.2.4.1Germany Bovine Lactoferrin Market
- 8.2.4.1.1Germany Bovine Lactoferrin Market by Application
- 8.2.4.1.2Germany Bovine Lactoferrin Market by Product Type
- 8.2.4.1.3Germany Bovine Lactoferrin Market by Function
- 8.2.4.2UK Bovine Lactoferrin Market
- 8.2.4.2.1UK Bovine Lactoferrin Market by Application
- 8.2.4.2.2UK Bovine Lactoferrin Market by Product Type
- 8.2.4.2.3UK Bovine Lactoferrin Market by Function
- 8.2.4.3France Bovine Lactoferrin Market
- 8.2.4.3.1France Bovine Lactoferrin Market by Application
- 8.2.4.3.2France Bovine Lactoferrin Market by Product Type
- 8.2.4.3.3France Bovine Lactoferrin Market by Function
- 8.2.4.4Russia Bovine Lactoferrin Market
- 8.2.4.4.1Russia Bovine Lactoferrin Market by Application
- 8.2.4.4.2Russia Bovine Lactoferrin Market by Product Type
- 8.2.4.4.3Russia Bovine Lactoferrin Market by Function
- 8.2.4.5Spain Bovine Lactoferrin Market
- 8.2.4.5.1Spain Bovine Lactoferrin Market by Application
- 8.2.4.5.2Spain Bovine Lactoferrin Market by Product Type
- 8.2.4.5.3Spain Bovine Lactoferrin Market by Function
- 8.2.4.6Italy Bovine Lactoferrin Market
- 8.2.4.6.1Italy Bovine Lactoferrin Market by Application
- 8.2.4.6.2Italy Bovine Lactoferrin Market by Product Type
- 8.2.4.6.3Italy Bovine Lactoferrin Market by Function
- 8.2.4.7Rest of Europe Bovine Lactoferrin Market
- 8.2.4.7.1Rest of Europe Bovine Lactoferrin Market by Application
- 8.2.4.7.2Rest of Europe Bovine Lactoferrin Market by Product Type
- 8.2.4.7.3Rest of Europe Bovine Lactoferrin Market by Function
- 8.3Asia Pacific Bovine Lactoferrin Market
- 8.3.1Asia Pacific Bovine Lactoferrin Market by Application
- 8.3.1.1Asia Pacific Infant Formula Market by Country
- 8.3.1.2Asia Pacific Dietary Supplements Market by Country
- 8.3.1.3Asia Pacific Pharmaceutical Market by Country
- 8.3.1.4Asia Pacific Others Market by Country
- 8.3.2Asia Pacific Bovine Lactoferrin Market by Product Type
- 8.3.2.1Asia Pacific Freeze-dried Market by Country
- 8.3.2.2Asia Pacific Spray-dried Market by Country
- 8.3.3Asia Pacific Bovine Lactoferrin Market by Function
- 8.3.3.1Asia Pacific Iron Absorption Market by Country
- 8.3.3.2Asia Pacific Antibacterial Market by Country
- 8.3.3.3Asia Pacific Immune Cell Stimulation Market by Country
- 8.3.3.4Asia Pacific Others Market by Country
- 8.3.4Asia Pacific Bovine Lactoferrin Market by Country
- 8.3.4.1China Bovine Lactoferrin Market
- 8.3.4.1.1China Bovine Lactoferrin Market by Application
- 8.3.4.1.2China Bovine Lactoferrin Market by Product Type
- 8.3.4.1.3China Bovine Lactoferrin Market by Function
- 8.3.4.2Japan Bovine Lactoferrin Market
- 8.3.4.2.1Japan Bovine Lactoferrin Market by Application
- 8.3.4.2.2Japan Bovine Lactoferrin Market by Product Type
- 8.3.4.2.3Japan Bovine Lactoferrin Market by Function
- 8.3.4.3India Bovine Lactoferrin Market
- 8.3.4.3.1India Bovine Lactoferrin Market by Application
- 8.3.4.3.2India Bovine Lactoferrin Market by Product Type
- 8.3.4.3.3India Bovine Lactoferrin Market by Function
- 8.3.4.4South Korea Bovine Lactoferrin Market
- 8.3.4.4.1South Korea Bovine Lactoferrin Market by Application
- 8.3.4.4.2South Korea Bovine Lactoferrin Market by Product Type
- 8.3.4.4.3South Korea Bovine Lactoferrin Market by Function
- 8.3.4.5Australia Bovine Lactoferrin Market
- 8.3.4.5.1Australia Bovine Lactoferrin Market by Application
- 8.3.4.5.2Australia Bovine Lactoferrin Market by Product Type
- 8.3.4.5.3Australia Bovine Lactoferrin Market by Function
- 8.3.4.6Malaysia Bovine Lactoferrin Market
- 8.3.4.6.1Malaysia Bovine Lactoferrin Market by Application
- 8.3.4.6.2Malaysia Bovine Lactoferrin Market by Product Type
- 8.3.4.6.3Malaysia Bovine Lactoferrin Market by Function
- 8.3.4.7Rest of Asia Pacific Bovine Lactoferrin Market
- 8.3.4.7.1Rest of Asia Pacific Bovine Lactoferrin Market by Application
- 8.3.4.7.2Rest of Asia Pacific Bovine Lactoferrin Market by Product Type
- 8.3.4.7.3Rest of Asia Pacific Bovine Lactoferrin Market by Function
- 8.4LAMEA Bovine Lactoferrin Market
- 8.4.1LAMEA Bovine Lactoferrin Market by Application
- 8.4.1.1LAMEA Infant Formula Market by Country
- 8.4.1.2LAMEA Dietary Supplements Market by Country
- 8.4.1.3LAMEA Pharmaceutical Market by Country
- 8.4.1.4LAMEA Others Market by Country
- 8.4.2LAMEA Bovine Lactoferrin Market by Product Type
- 8.4.2.1LAMEA Freeze-dried Market by Country
- 8.4.2.2LAMEA Spray-dried Market by Country
- 8.4.3LAMEA Bovine Lactoferrin Market by Function
- 8.4.3.1LAMEA Iron Absorption Market by Country
- 8.4.3.2LAMEA Antibacterial Market by Country
- 8.4.3.3LAMEA Immune Cell Stimulation Market by Country
- 8.4.3.4LAMEA Others Market by Country
- 8.4.4LAMEA Bovine Lactoferrin Market by Country
- 8.4.4.1Brazil Bovine Lactoferrin Market
- 8.4.4.1.1Brazil Bovine Lactoferrin Market by Application
- 8.4.4.1.2Brazil Bovine Lactoferrin Market by Product Type
- 8.4.4.1.3Brazil Bovine Lactoferrin Market by Function
- 8.4.4.2Argentina Bovine Lactoferrin Market
- 8.4.4.2.1Argentina Bovine Lactoferrin Market by Application
- 8.4.4.2.2Argentina Bovine Lactoferrin Market by Product Type
- 8.4.4.2.3Argentina Bovine Lactoferrin Market by Function
- 8.4.4.3UAE Bovine Lactoferrin Market
- 8.4.4.3.1UAE Bovine Lactoferrin Market by Application
- 8.4.4.3.2UAE Bovine Lactoferrin Market by Product Type
- 8.4.4.3.3UAE Bovine Lactoferrin Market by Function
- 8.4.4.4Saudi Arabia Bovine Lactoferrin Market
- 8.4.4.4.1Saudi Arabia Bovine Lactoferrin Market by Application
- 8.4.4.4.2Saudi Arabia Bovine Lactoferrin Market by Product Type
- 8.4.4.4.3Saudi Arabia Bovine Lactoferrin Market by Function
- 8.4.4.5South Africa Bovine Lactoferrin Market
- 8.4.4.5.1South Africa Bovine Lactoferrin Market by Application
- 8.4.4.5.2South Africa Bovine Lactoferrin Market by Product Type
- 8.4.4.5.3South Africa Bovine Lactoferrin Market by Function
- 8.4.4.6Nigeria Bovine Lactoferrin Market
- 8.4.4.6.1Nigeria Bovine Lactoferrin Market by Application
- 8.4.4.6.2Nigeria Bovine Lactoferrin Market by Product Type
- 8.4.4.6.3Nigeria Bovine Lactoferrin Market by Function
- 8.4.4.7Rest of LAMEA Bovine Lactoferrin Market
- 8.4.4.7.1Rest of LAMEA Bovine Lactoferrin Market by Application
- 8.4.4.7.2Rest of LAMEA Bovine Lactoferrin Market by Product Type
- 8.4.4.7.3Rest of LAMEA Bovine Lactoferrin Market by Function
Chapter 9.Company Profiles
- 9.1Royal FrieslandCampina N.V.
- 9.1.1Company Overview
- 9.1.2Financial Analysis
- 9.1.3Segmental and Regional Analysis
- 9.1.4Research & Development Expenses
- 9.1.5Recent strategies and developments:
- 9.1.5.1Partnerships, Collaborations, and Agreements:
- 9.1.5.2Product Launches and Product Expansions:
- 9.1.5.3Geographical Expansions and Business Expansions:
- 9.1.6SWOT Analysis
- 9.2Fonterra Co-operative Group Limited
- 9.2.1Company Overview
- 9.2.2Financial Analysis
- 9.2.3Regional Analysis
- 9.2.4Research & Development Expense
- 9.2.5Recent strategies and developments:
- 9.2.5.1Product Launches and Product Expansions:
- 9.2.6SWOT Analysis
- 9.3Saputo, Inc.
- 9.3.1Company overview
- 9.3.2Financial Analysis
- 9.3.3Segmental and Regional Analysis
- 9.3.4SWOT Analysis
- 9.4Glanbia PLC
- 9.4.1Company Overview
- 9.4.2Financial Analysis
- 9.4.3Segmental and Regional Analysis
- 9.4.4Research & Development Expenses
- 9.4.5Recent strategies and developments:
- 9.4.5.1Acquisition and Mergers:
- 9.4.6SWOT Analysis
- 9.5Noumi Limited
- 9.5.1Company Overview
- 9.5.2Financial Analysis
- 9.5.3Segmental Analysis
- 9.6Synlait Milk Limited
- 9.6.1Company Overview
- 9.6.2Financial Analysis
- 9.6.3Segmental and Regional Analysis
- 9.6.4SWOT Analysis
- 9.7MILEI GmbH (Morinaga Milk Industry Co., Ltd.)
- 9.7.1Company Overview
- 9.7.2Financial Analysis
- 9.7.3Segmental and Regional Analysis
- 9.7.4Recent strategies and developments:
- 9.7.4.1Geographical Expansions and Business Expansions:
- 9.7.5SWOT Analysis
- 9.8Bega Cheese Limited
- 9.8.1Company Overview
- 9.8.2Financial Analysis
- 9.8.3Segmental and Regional Analysis
- 9.8.4Recent strategies and developments:
- 9.8.4.1Product Launches and Product Expansions:
- 9.8.4.2Acquisition and Mergers:
- 9.8.4.3Geographical Expansions:
- 9.8.5SWOT Analysis
- 9.9Beston Global Food Company Limited
- 9.9.1Company Overview
- 9.9.2Financial Analysis
- 9.9.3Segmental and Regional Analysis
- 9.9.4Recent strategies and developments:
- 9.9.4.1Geographical Expansions and Business Expansions:
- 9.9.5SWOT Analysis
- 9.10.Savencia SA
- 9.10.1Company Overview
- 9.10.2Financial Analysis
- 9.10.3Segmental and Regional Analysis
- 9.10.4Recent strategies and developments:
- 9.10.4.1Acquisition and Mergers:
- 9.10.5SWOT Analysis
Chapter 10.Winning Imperatives of Bovine Lactoferrin Market