The global bovine lactoferrin market is on the cusp of unprecedented growth over the next decade, with projections indicating a robust Compound Annual Growth Rate (CAGR) of 15.8% between 2023 and 2033. From an initial valuation of USD 772.39 million in 2023, the market is forecasted to soar to an impressive USD 3,349.05 million by 2033.
The Bovine Lactoferrin Industry encompasses the global production, distribution, and sale of bovine lactoferrin, a protein derived from cow’s milk renowned for its various health benefits. Widely utilized in the pharmaceutical, food, and nutritional supplement sectors, bovine lactoferrin has garnered significant attention for its potential applications in improving human health.
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As the demand for natural and effective health solutions continues to rise, bovine lactoferrin is increasingly recognized for its powerful antibacterial, antiviral, and anti-inflammatory properties. This versatile protein is being extensively researched for its role in enhancing immune function, promoting gut health, and its potential in treating various medical conditions.
Key Takeaways from the Market Study:
- The global Bovine Lactoferrin Industry is expected to grow at a significant CAGR over the forecast period.
- The growth of the market is being driven by increasing awareness of the health benefits of bovine lactoferrin, the growing geriatric population, and the rising prevalence of chronic diseases.
- North America is expected to remain the largest market for bovine lactoferrin over the forecast period, while the Asia Pacific region is expected to be the fastest-growing market.
“With the growing number of working women in Asia, the Pacific, and Europe, the proportion of breastfeeding is declining, the need for an acknowledgment of lactoferrin in infant formula manufacturing is cruising market growth, as are the benefits of lactoferrin in infant formula that have been illustrated.” says an analyst at Future Market Insights.
Key Market Players:
- Glanbia Plc.
- Fonterra Co-operative Group
- Freisland Campine DOMO
- Milei GmbH
- Bea Bionutrients
- Beston Global Australia Pty Ltd.
- Saputo Dairy Pty Ltd.
- Synlait Ltd.
- Ingredia
- Savencia SA
- Freedom Food Group Limited
Recent Development:
- Beston Global Food Company Ltd. revealed in June 2021 that its Jervois dairy factory in Australia enlarged its capacity to generate up to 25 metric tonnes of 95.0% pure lactoferrin per year.
- Fonterra Co-operative Group declared in June 2021 that it will market its two joint venture firms in China in order to concentrate more on New Zealand milk production and prioritize the Greater China industry.
- Fonterra Co-operative Group Limited announced a sales and advertising contract with Land O’Lakes, Inc. in October 2020, with the intention of expanding its market potential into more U.S. food service platforms.
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Bovine Lactoferrin Industry Segments Survey:
Bovine Lactoferrin Industry by Type:
- Freeze-dried
- Spray-dried
Bovine Lactoferrin Industry by Application:
- Infant Formula
- Dietary Supplements
- Pharmaceuticals
- Food
- Other Applications
Bovine Lactoferrin Industry by Region:
- North America
- Europe
- East Asia
- South Asia & Pacific
- Latin America
- Middle East and Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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