Lactoferrin Market
Lactoferrin Market Analysis by Function (Antioxidant, Immune Cell Stimulation, Antibacterial, Intestinal Flora Protection, Anti-inflammatory, Iron Absorption), By Application, By Region - Global Forecast 2022 to 2032
Analysis of Lactoferrin market covering 30+ countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Lactoferrin Market Outlook (2022 to 2032)
The global lactoferrin market was estimated to be worth US$ 253.36 Million in the year 2022 and is expected to grow with a steady CAGR of 8% during the forecast period, 2022 to 2032. By the end of 2032, the market is predicted to reach a global valuation of US$ 546.77 Million.
With consumers becoming increasingly aware of health and diet issues, combined with skin-related illnesses on the rise, demand for skincare products is expected to grow and along with that steady growth in the Lactoferrin Market will be seen too.
Pharmaceutical companies and personal care companies will be driving the demand for lactoferrin, due to its antiviral, antiparasitic, antibacterial, anti-allergic and catalytic properties. Approximately 40 to 50 million Americans suffer from acne each year, according to the American Academy of Dermatology.
Furthermore, the lactoferrin market is anticipated to grow strongly in the outlook period, 2022 to 2032. Various clinical trials have demonstrated lactoferrin's effectiveness against acne and similar skin conditions.
With a revenue share of more than 28.5% in 2021, the iron absorption segment is expected to maintain its leadership position over the forecast period. A revenue share of more than 41.5% made Asia Pacific the largest regional market in 2021, and it is expected to remain as such throughout the forecast period.
| Report Attributes | Details |
|---|---|
| Market Size in 2021 | USD 234.5 Million |
| Market Size in 2022 | US$ 253.36 Million |
| Projected value of the Lactoferrin Market in 2032 | US$ 546.77 Mn |
| CAGR during the forecast period, 2022 to 2032 | 8% |
| Key Players in the Lactoferrin Market | Pharming Group NV; Ferrin-tech LLC; Milei GmbH; InVitria; Farbest Brands; Fonterra Cooperative Group Ltd.; ProHealth; APS BioGroup; Glanbia plc; Friesland Camina; Hilmar Cheese Company; Synlait Milk Ltd. |
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Demand Analysis of Lactoferrin, 2015 to 2021 vs. Market Outlook 2022 to 2032
According to Fact.MR, a market research and competitive intelligence provider, from 2015 to 2021, the global market for Lactoferrin expanded at a CAGR rate of 6.5%. This market is expected to project a global valuation of US$ 253.36 Mn by the end of 2022.
The COVID-19 pandemic has a positive impact on the Lactoferrin market globally. Certain segments of this market witnessed steady growth in the adoption and demand of this protein. This can be attributed to an increasing awareness among the people regarding the efficacy of lactoferrin to boost immunity. During the 2021 pandemic, for example, Jatcorp announced the launch of five more products in China in response to consumer demand for enhanced immunity.
Product awareness bolstered by product marketing initiatives taken by brand owners combined with a preference for organic products with minimal side effects and higher efficiency are expected to boost demand for the products. Lactoferrin's market is expected to grow over the forecast period due to rising consumer awareness about gut health and the increased demand for products that reduce intestinal inflammation and irritable bowel movements.
What are the specific drivers of the Lactoferrin Market?
Consumer awareness towards gut health to boost the growth
Lactoferrin is widely used in reducing the dermal immune response and in healing wounds by stimulating connective tissue and epithelial cells. The use of lactoferrin in treating and preventing gastrointestinal inflammation has also been proven in many clinical trials.
Over the forecast period, the market for lactoferrin is anticipated to grow owing to consumers' increasing awareness of gut health combined with an increase in product demand to prevent irritable bowel movement and bloating.
Increasing demand for organic products with lower carbon footprint
The manufacturing industry is focused on understanding consumer buying patterns to keep up with ever-changing consumer demands. Packaging and improved ingredient quality have become a major concern for companies whether they sell in specialty stores, club warehouses, or online.
Organic products with a lower carbon footprint are naturally attractive to consumers. Research studies and various experiments further strengthen the advantages of lactoferrin in various domains. This is expected to increase demand over the next few years.
The cost-effective manufacturing process will be a good opportunity for this market
The various technology-oriented players in the market are aimed towards exhibiting a cost-effective production procedure. For example, Conagen Inc. developed a cost-effective lactoferrin manufacturing process with the help of microbial fermentation technology in April, 2020.
At the same time, its cost-effectiveness production also helped a lot with cancer treatments and proved as an effective ingredient in forming remedies to fight with cancerous cells. The rising number of clinical trials to explore cost effective manufacturing along with new indications will boost the adoption of lactoferrin during 2022 to 2032.
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Country-wise-Analysis
What will be the Market Outlook in North America?
North America will be the second lucrative region in this market
By 2020, North American lactoferrin sales were second only to Asia. As a result, the United States emerged as the region's largest market. Consumption of digestive products has increased in recent years due to an increased incidence of digestive distresses.
The increase in the number of specialty stores, hypermarkets, and supermarkets, as well as incentivized marketing programs adopted by brands to boost their sales, are also expected to bolster the market growth. A major factor driving the market in the region is the fact that key market players are taking advantage of various marketing strategies and initiatives, including branding, to expand their business reach. Fact.MR expects the North American market to accumulate a market value of 38% in 2022.
How will the Asia-Pacific Perform in the Lactoferrin Industry?
41.5% global market share was occupied by the APA region in 2020
With a revenue share of more than 41.5% in 2020, Asia Pacific is poised to remain the largest regional market. This position is expected to be maintained throughout the forecast period. The development of the regional market is largely due to the growing population and rising purchasing power of consumers in India, China, and Japan.
There are more medium-sized and small businesses in Asia Pacific than in most other regions. The Lactoferrin market in the region is expected to benefit from an increase in literacy rate and awareness of infant nutrition, personal care, and pharmaceutical products. Consumer preference for organic products is also driving market growth in the region.
Category-wise Insights
Iron Absorption Segment to dominate the Market?
Lactoferrin usage to treat anemia will drive growth
It is expected that iron absorption will maintain its leading position over the forecast period as it accounted for over 28.5% of revenue in 2022. Lactoferrin's bioavailability and ability to increase serum ferritin levels by five times, make Lactoferrin a crucial therapy for anemia.
For Lactoferrin has high bioavailability, it allows for efficient absorption of iron when compared to other iron supplements. Over 1.61 billion people suffer from anemia worldwide, with 47% of affected children under the age of five. According to the WHO, anemia affects more than 1.01 billion people worldwide.
How is Antibacterial Functionality expected to Spur Market Growth?
Features like real-time locating and accuracy are driving the market
As of 2022, the antibacterial functionality segment is likely to account for the second-highest revenue share. As an antimicrobial therapeutic agent, the product is expected to drive segment growth in the coming years due to its ability to inhibit bacterial growth and biofilm formation.
The market for antimicrobial and antibacterial products is growing as pharmaceutical companies increasingly incorporate lactoferrin as a key ingredient. According to Fact.MR, sales of lactoferrin for antibacterial functionality is likely to account for 35% of the global market.
Increasing Preference for the Infant Formula Products?
The increased demand for clinical trials will increase the revenue in this market
More than 38.5% of the market's revenue in 2021 came from the infant formula segment. During the period of 2022 to 2032, the segment is expected to expand at a steady CAGR.
Due to the growth in the number of clinical studies supporting the integration of lactoferrin into infant formula as well as changing consumer preferences towards supplementary foods, it is anticipated that demand will increase. Developed countries account for most of the demand for infant nutrition due to their significant disposable incomes, busy work schedules, and the increasing incidences of iron deficiency in infants.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Competitive Landscape
Small and medium-sized businesses dominate the lactoferrin market, which is highly fragmented. The main cause is the logistical indifference caused by producers of dairy products in different countries. The perishable nature of dairy products creates a disparity between producers and small and medium businesses that are able to take advantage by sourcing local dairy products in good time to meet their production needs.
A number of factors are likely to impact the distribution of final products, including the intensity of competition, the size and development of the local market, and labor availability. Hypermarkets, online shopping platforms, supermarkets, convenience stores and specialty shops are the most common forms of retailing for most companies. The objective of the new players as well as the existing ones is to achieve a higher market share during the forecast period by focusing on their capacity expansion. by the end of 2032, this will lead to a highly fragmented market.
- In 2021, Beston Global Food Company Ltd expanded its capacity for 95% pure lactoferrin to 25 metric tons per year to meet the rising demand.
- In September 2020, Frieslandcampina DOMO declared its initiative to increase the production of lactoferrin in Veghel from 9 tons to around 60 tonnes by 2022 to meet the growing demand in the market, especially for infant formula.
- An Australian company, Jatenergy Ltd., had announced a surge in sales of dairy-based infant nutrition products, which contain lactoferrin. In March 2020, the company reported a USD 5.4 million monthly sale.
Key Segments Covered in the Craft Beer Industry Survey
-
By Function :
- Antioxidant
- Immune Cell Stimulation
- Antibacterial
- Intestinal Flora Protection
- Anti-inflammatory
- Iron Absorption
-
By Application :
- Animal Feed
- Personal Care Products
- Pharmaceuticals
- Sports & Functional Foods
- Infant Formula
- Food & Beverages
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Market Risks and Trends Assessment
- 4. Market Background and Foundation Data Points
- 5. Key Success Factors
- 6. Global Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2032
- 7. Global Market Value Analysis 2015 to 2021 and Forecast, 2022 to 2032
- 8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Application
- 8.1. Food & Beverages
- 8.2. Infant Formula
- 8.3. Sports & Functional Foods
- 8.4. Pharmaceuticals
- 8.5. Personal Care Products
- 8.6. Animal Feed
- 9. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Function
- 9.1. Iron Absorption
- 9.2. Anti-inflammatory
- 9.3. Intestinal Flora Protection
- 9.4. Antibacterial
- 9.5. Immune Cell Stimulation
- 9.6. Antioxidant
- 10. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region
- 10.1. North America
- 10.2. Latin America
- 10.3. Europe
- 10.4. Asia Pacific
- 10.5. Middle East and Africa (MEA)
- 11. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 12. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 13. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 14. Asia Pacific Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 15. Middle East and Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 16. Key Countries Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 17. Market Structure Analysis
- 18. Competition Analysis
- 18.1. Hilmar Cheese Company
- 18.2. Pharming Group NV
- 18.3. FrieslandCampina
- 18.4. Synlait
- 18.5. Ingredia SA
- 18.6. MP Biomedicals
- 18.7. Tatura Milk Industries
- 18.8. Glanbia plc
- 18.9. APS Biogroup
- 18.10. Prohealth
- 19. Assumptions and Acronyms Used
- 20. Research Methodology
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List Of Table
Table 1: Global Market Value (US$ Mn) & Volume (Tons), By Application, 2015 to 2021
Table 2: Global Market Value (US$ Mn) & Volume (Tons), By Application, 2022 to 2032
Table 3: Global Market Value (US$ Mn) & Volume (Tons), By Function, 2015 to 2021
Table 4: Global Market Value (US$ Mn) & Volume (Tons), By Function, 2022 to 2032
Table 5: Global Market, By Region, 2015 to 2021
Table 6: Global Market, By Region, 2022 to 2032
Table 7: North America Market Value (US$ Mn) & Volume (Tons), By Application, 2015 to 2021
Table 8: North America Market Value (US$ Mn) & Volume (Tons), By Application, 2022 to 2032
Table 9: North America Market Value (US$ Mn) & Volume (Tons), By Function, 2015 to 2021
Table 10: North America Market Value (US$ Mn) & Volume (Tons), By Function, 2022 to 2032
Table 11: North America Market, By Country, 2015 to 2021
Table 12: North America Market, By Country, 2022 to 2032
Table 13: Latin America Market Value (US$ Mn) & Volume (Tons), By Application, 2015 to 2021
Table 14: Latin America Market Value (US$ Mn) & Volume (Tons), By Application, 2022 to 2032
Table 15: Latin America Market Value (US$ Mn) & Volume (Tons), By Function, 2015 to 2021
Table 16: Latin America Market Value (US$ Mn) & Volume (Tons), By Function, 2022 to 2032
Table 17: Latin America Market, By Country, 2015 to 2021
Table 18: Latin America Market, By Country, 2022 to 2032
Table 19: Europe Market Value (US$ Mn) & Volume (Tons), By Application, 2015 to 2021
Table 20: Europe Market Value (US$ Mn) & Volume (Tons), By Application, 2022 to 2032
Table 21: Europe Market Value (US$ Mn) & Volume (Tons), By Function, 2015 to 2021
Table 22: Europe Market Value (US$ Mn) & Volume (Tons), By Function, 2022 to 2032
Table 23: Europe Market, By Country, 2015 to 2021
Table 24: Europe Market, By Country, 2022 to 2032
Table 25: Asia Pacific Market Value (US$ Mn) & Volume (Tons), By Application, 2015 to 2021
Table 26: Asia Pacific Market Value (US$ Mn) & Volume (Tons), By Application, 2022 to 2032
Table 27: Asia Pacific Market Value (US$ Mn) & Volume (Tons), By Function, 2015 to 2021
Table 28: Asia Pacific Market Value (US$ Mn) & Volume (Tons), By Function, 2022 to 2032
Table 29: Asia Pacific Market, By Country, 2015 to 2021
Table 30: Asia Pacific Market, By Country, 2022 to 2032
Table 31: MEA Market Value (US$ Mn) & Volume (Tons), By Application, 2015 to 2021
Table 32: MEA Market Value (US$ Mn) & Volume (Tons), By Application, 2022 to 2032
Table 33: MEA Market Value (US$ Mn) & Volume (Tons), By Function, 2015 to 2021
Table 34: MEA Market Value (US$ Mn) & Volume (Tons), By Function, 2022 to 2032
Table 35: MEA Market, By Country, 2015 to 2021
Table 36: MEA Market, By Country, 2022 to 2032
Table 37: Global Market Incremental $ Opportunity, By Application, 2015 to 2021
Table 38: Global Market Incremental $ Opportunity, By Function, 2022 to 2032
Table 39: Global Market Incremental $ Opportunity, By Region, 2022 to 2032
Table 40: North America Market Incremental $ Opportunity, By Application, 2015 to 2021
Table 41: North America Market Incremental $ Opportunity, By Function, 2022 to 2032
Table 42: North America Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 43: Latin America Market Incremental $ Opportunity, By Application, 2015 to 2021
Table 44: Latin America Market Incremental $ Opportunity, By Function, 2022 to 2032
Table 45: Latin America Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 46: Europe Market Incremental $ Opportunity, By Application, 2015 to 2021
Table 47: Europe Market Incremental $ Opportunity, By Function, 2022 to 2032
Table 48: Europe Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 49: Asia Pacific Market Incremental $ Opportunity, By Application, 2015 to 2021
Table 50: Asia Pacific Market Incremental $ Opportunity, By Function, 2022 to 2032
Table 51: Asia Pacific Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 52: MEA Market Incremental $ Opportunity, By Application, 2015 to 2021
Table 53: MEA Market Incremental $ Opportunity, By Function, 2022 to 2032
Table 54: MEA Market Incremental $ Opportunity, By Country, 2022 to 2032
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List Of Figures
Figure 1: Global Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 2: Global Market Absolute $ Historical Gain (2015 to 2021) and Opportunity (2022 to 2032), US$ Mn
Figure 3: Global Market Share, By Application, 2022 & 2032
Figure 4: Global Market Y-o-Y Growth Projections, By Application to 2022 to 2032
Figure 5: Global Market Attractiveness Index, By Application to 2022 to 2032
Figure 6: Global Market Share, By Function, 2022 & 2032
Figure 7: Global Market Y-o-Y Growth Projections, By Function to 2022 to 2032
Figure 8: Global Market Attractiveness Index, By Function to 2022 to 2032
Figure 9: Global Market Share, By Region, 2022 & 2032
Figure 10: Global Market Y-o-Y Growth Projections, By Region to 2022 to 2032
Figure 11: Global Market Attractiveness Index, By Region to 2022 to 2032
Figure 12: North America Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 13: North America Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 14: North America Market Share, By Application, 2022 & 2032
Figure 15: North America Market Y-o-Y Growth Projections, By Application to 2022 to 2032
Figure 16: North America Market Attractiveness Index, By Application to 2022 to 2032
Figure 17: North America Market Share, By Function, 2022 & 2032
Figure 18: North America Market Y-o-Y Growth Projections, By Function to 2022 to 2032
Figure 19: North America Market Attractiveness Index, By Function to 2022 to 2032
Figure 20: North America Market Share, By Country, 2022 & 2032
Figure 21: North America Market Y-o-Y Growth Projections, By Country to 2022 to 2032
Figure 22: North America Market Attractiveness Index, By Country to 2022 to 2032
Figure 23: Latin America Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 24: Latin America Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 25: Latin America Market Share, By Application, 2022 & 2032
Figure 26: Latin America Market Y-o-Y Growth Projections, By Application to 2022 to 2032
Figure 27: Latin America Market Attractiveness Index, By Application to 2022 to 2032
Figure 28: Latin America Market Share, By Function, 2022 & 2032
Figure 29: Latin America Market Y-o-Y Growth Projections, By Function to 2022 to 2032
Figure 30: Latin America Market Attractiveness Index, By Function to 2022 to 2032
Figure 31: Latin America Market Share, By Country, 2022 & 2032
Figure 32: Latin America Market Y-o-Y Growth Projections, By Country to 2022 to 2032
Figure 33: Latin America Market Attractiveness Index, By Country to 2022 to 2032
Figure 34: Europe Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 35: Europe Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 36: Europe Market Share, By Application, 2022 & 2032
Figure 37: Europe Market Y-o-Y Growth Projections, By Application to 2022 to 2032
Figure 38: Europe Market Attractiveness Index, By Application to 2022 to 2032
Figure 39: Europe Market Share, By Function, 2022 & 2032
Figure 40: Europe Market Y-o-Y Growth Projections, By Function to 2022 to 2032
Figure 41: Europe Market Attractiveness Index, By Function to 2022 to 2032
Figure 42: Europe Market Share, By Country, 2022 & 2032
Figure 43: Europe Market Y-o-Y Growth Projections, By Country to 2022 to 2032
Figure 44: Europe Market Attractiveness Index, By Country to 2022 to 2032
Figure 45: MEA Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 46: MEA Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 47: MEA Market Share, By Application, 2022 & 2032
Figure 48: MEA Market Y-o-Y Growth Projections, By Application to 2022 to 2032
Figure 49: MEA Market Attractiveness Index, By Application to 2022 to 2032
Figure 50: MEA Market Share, By Function, 2022 & 2032
Figure 51: MEA Market Y-o-Y Growth Projections, By Function to 2022 to 2032
Figure 52: MEA Market Attractiveness Index, By Function to 2022 to 2032
Figure 53: MEA Market Share, By Country, 2022 & 2032
Figure 54: MEA Market Y-o-Y Growth Projections, By Country to 2022 to 2032
Figure 55: MEA Market Attractiveness Index, By Country to 2022 to 2032
Figure 56: Asia Pacific Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 57: Asia Pacific Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 58: Asia Pacific Market Share, By Application, 2022 & 2032
Figure 59: Asia Pacific Market Y-o-Y Growth Projections, By Application to 2022 to 2032
Figure 60: Asia Pacific Market Attractiveness Index, By Application to 2022 to 2032
Figure 61: Asia Pacific Market Share, By Function, 2022 & 2032
Figure 62: Asia Pacific Market Y-o-Y Growth Projections, By Function to 2022 to 2032
Figure 63: Asia Pacific Market Attractiveness Index, By Function to 2022 to 2032
Figure 64: Asia Pacific Market Share, By Country, 2022 & 2032
Figure 65: Asia Pacific Market Y-o-Y Growth Projections, By Country to 2022 to 2032
Figure 66: Asia Pacific Market Attractiveness Index, By Country to 2022 to 2032
Figure 67: US Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 68: US Market Share, By Application, 2021
Figure 69: US Market Share, By Function, 2021
Figure 70: Canada Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 71: Canada Market Share, By Application, 2021
Figure 72: Canada Market Share, By Function, 2021
Figure 73: Brazil Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 74: Brazil Market Share, By Application, 2021
Figure 75: Brazil Market Share, By Function, 2021
Figure 76: Mexico Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 77: Mexico Market Share, By Application, 2021
Figure 78: Mexico Market Share, By Function, 2021
Figure 79: Germany Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 80: Germany Market Share, By Application, 2021
Figure 81: Germany Market Share, By Function, 2021
Figure 82: U.K. Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 83: U.K. Market Share, By Application, 2021
Figure 84: U.K. Market Share, By Function, 2021
Figure 85: France Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 86: France Market Share, By Application, 2021
Figure 87: France Market Share, By Function, 2021
Figure 88: Italy Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 89: Italy Market Share, By Application, 2021
Figure 90: Italy Market Share, By Function, 2021
Figure 91: BENELUX Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 92: BENELUX Market Share, By Application, 2021
Figure 93: BENELUX Market Share, By Function, 2021
Figure 94: Nordic Countries Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 95: Nordic Countries Market Share, By Application, 2021
Figure 96: Nordic Countries Market Share, By Function, 2021
Figure 97: China Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 98: China Market Share, By Application, 2021
Figure 99: China Market Share, By Function, 2021
Figure 100: Japan Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 101: Japan Market Share, By Application, 2021
Figure 102: Japan Market Share, By Function, 2021
Figure 103: South Korea Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 104: South Korea Market Share, By Application, 2021
Figure 105: South Korea Market Share, By Function, 2021
Figure 106: GCC Countries Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 107: GCC Countries Market Share, By Application, 2021
Figure 108: GCC Countries Market Share, By Function, 2021
Figure 109: South Africa Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 110: South Africa Market Share, By Application, 2021
Figure 111: South Africa Market Share, By Function, 2021
Figure 112: Turkey Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 113: Turkey Market Share, By Application, 2021
Figure 114: Turkey Market Share, By Function, 2021
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
At what value will the lactoferrin market close as of 2022?
As of 2022, the global lactoferrin market is forecast to be valued at US$ 253.36 Mn
What was the last 6 years CAGR for the lactoferrin industry?
From 2015 to 2021, the lactoferrin industry expanded at a CAGR of 6.5%, as per Fact.MR
What is the projected value CAGR for the market for lactoferrin from 2022-2032?
From 2022 to 2032, lactoferrin sales are expected to surge at a CAGR of 8%
What is the projected market value for lactoferrin in the year 2032?
By 2032, demand for lactoferrin is expected to reach US$ 546.77 Mn, according to Fact.MR
How lucrative is the market for lactoferrin across North America?
North America is anticipated to account for 38% of overall lactoferrin sales through 2022
What are the growth prospects for lactoferrin across the Asia-Pacific?
As per Fact.MR’s report, Asia Pacific is expected to yield a revenue share worth 41.5%
Which function is expected to dominate the market for lactoferrin?
Iron absorption is expected to dominate, accumulating a market share of 28.5% in 2022
How opportunistic are prospects for antibacterial functionality?
Lactoferrin products for antibacterial functionality are expected to account for more than 1/3rd of global revenue
Which is the dominant application area for lactoferrin products?
Lactoferrin applications are expected to abound in infant formulae, capturing over 38.5% revenue
Lactoferrin Market