Lactoferrin Market Size, Share & Trends Analysis Report By Function (Iron Absorption, Intestinal Flora Protection), By Application (Personal Care Products, Infant Formula), By Region (APAC, Europe), And Segment Forecasts, 2021 - 2028

Report Overview

The global lactoferrin market size was valued at USD 219.2 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.2% over the forecast period. The rising awareness amongst consumers regarding health and diet, along with the rising prevalence of skin-related health conditions, is expected to boost the demand. Lactoferrin is believed to have antiviral, antibacterial, antiparasitic, catalytic, and anti-allergic functions and properties, which is anticipated to drive the product demand from the pharmaceutical and personal care industries. According to the American Academy of Dermatology, acne is the most prevalent skin condition in the U.S., affecting over 40 to 50 million people in the country every year. The acne treatment market is also subsequently expected to witness strong growth during the forecast period.

Various clinical trials have proven the ability of lactoferrin to effectively treat acne and other such skin conditions. Due to its anti-inflammatory properties, lactoferrin gets rid of the main food source for pathogens by neutralizing its contributors. According to the World Health Organization (WHO), 50% women and 42% men reported experiencing acne during their twenties, 35% women and 20% men reported experiencing acne during their thirties, 26% women and 12% men reported experiencing acne during their forties, and 15% women and 7% men reported experiencing acne during their fifties. The growing prevalence of acne in developed nations including the U.S., Canada, and Germany, along with proven testimonials and research findings for lactoferrin-induced acne treatment is expected to drive growth avenues for product manufacturers over the forecast period.

The global personal care market is a multibillion-dollar industry and is experiencing a shift from traditional brick-and-mortar stores to specialty and online stores. Women consumers of all age groups across the world prefer a cross-channel purchase approach, where they visit online portals to understand the product while purchasing from an offline retail outlet. Consumer awareness due to product marketing initiatives taken by brand owners coupled with an inclination toward organic products with minimal side effects and higher efficiency is expected to further bolster the product demand.

Lactoferrin is extensively applied in reducing dermal immune response and healing wounds by stimulating connective tissue with epidermal cells by regenerating the skin. Its soothing effect on inflammations prevents the formation of larger zits and cysts. Many clinical trials have proven that lactoferrin can also be effectively used in the treatment and prevention of gastrointestinal inflammatory cases. Rising consumer awareness regarding gut health coupled with the increasing product demand to prevent irritable bowel movement and bloating and to reduce intestinal inflammation is anticipated to boost the market growth over the forecast period.

Manufacturers are focused on understanding consumer buying patterns to serve the ever-changing demands. Companies have started investing in packaging and up-gradation of ingredients depending on whether the point-of-purchase is a specialty store, club warehouse, or online shopping portal. Consumers are naturally inclined toward organic products that have a lower carbon footprint. Research studies and experiments further strengthen the benefits offered by lactoferrin in various applications that are expected to propel its demand in the forthcoming years.

Lactoferrin possesses anti-inflammatory effects that could be significant in the pathophysiology of cases concerning COVID-19. In 2020, the unavailability of a cure or vaccine for the infection triggered a high demand for immunity boosters. Preventive measures for the COVID 19 infection have gained high popularity across the world, which led to the additional boost in demand for lactoferrin-based products in 2020.

The demand for lactoferrin-based infant formula products experienced immense demand, especially in the Asia Pacific region after the outbreak of COVID-19. This demand was backed by the growing acceptance of these products due to their anti-viral properties. For instance, Jatenergy Ltd., an Australian company, had announced a hike in sales in dairy-based infant nutrition products, which have lactoferrin as an ingredient. The company held a recorded monthly sale of USD 5.4 million in March. The sales decreased in the second quarter of the year, however, remained high in contrast with previous year’s sales.

Function Insights

The iron absorption segment accounted for the highest revenue share of more than 29% in 2020 and is expected to maintain its leading position over the forecast period. Iron deficiency usually leads to anemia, which roughly affects over 30% of the global population. Lactoferrin has been a crucial solution for anemia, its high level of bioavailability along with the ability to increase serum ferritin levels by five times allows efficient absorption of iron when compared to other iron sources.

According to the WHO, anemia affects over 1.62 billion people across the globe, with the highest prevalence observed among pre-school-going children, accounting for 47.4% of the total affected population. Lactoferrin is a new-age solution for anemia and is widely recognized to be part of the transferrin family, which regulates the levels of free iron in body fluid along with increasing the levels of hemoglobin by enhancing the ability to bind iron.

The antibacterial functionality segment accounted for the second-highest revenue share in 2020. The ability of the product to inhibit bacterial growth and biofilm formation, which, in turn, increases its applicability as an antimicrobial therapeutic agent, is anticipated to fuel the segment growth in the coming years. Pharmaceutical companies have been increasingly observed to incorporate lactoferrin as an active ingredient in many antimicrobial and anti-bacterial products, which will support the segment growth.

The global population has become highly conscious of the immune system post-COVID-19, to control the infection intensity and its effects on the body. Therefore, the demand for lactoferrin in immune cell simulation function is expected to grow at a significant rate in the coming years

Application Insights

The infant formula segment held the highest revenue share of more than 38% in 2020 and will expand further at a steady CAGR from 2021 to 2028. The demand is anticipated to grow owing to the increase in the number of clinical studies supporting infant formula integration with lactoferrin and changing consumer dynamics towards infant supplementary foods. The demand for infant nutrition is majorly from the developed economies owing to the significant disposable income, busy work schedules, and rising incidences of iron deficiency among infants.

The personal care product application segment is anticipated to register the fastest CAGR during the forecast period. This growth can be credited to the rising product demand in the personal care industry due to its emollient nature and inherent properties that help reduce skin inflammation. It does this by inhibiting the production of cytokine mediators, which causes inflammation. The most prolific advantage of lactoferrin includes its potential usage as a non-toxic and anti-cancer agent.

Regional Insights

Asia Pacific emerged as the largest regional market in 2020 with a revenue share of more than 42%. The regional market is expected to maintain its position throughout the forecast period. Led by India, China, and Japan, the regional market growth can be attributed to the growing population and rising spending capacity of the consumers. Asia Pacific, unlike most other regions, has a sizable number of medium and small businesses. Moreover, with increasing literacy rate and rising consumer awareness regarding infant nutrition, personal care, and pharmaceutical products along with consumer inclination toward organic products are expected to drive the market growth.

North America was the second-largest regional market in 2020. The U.S. emerged to be the largest market in the region. The growing incidence of digestive distresses has driven product demand across the country. Furthermore, a rise in the numbers of specialty stores, hypermarkets, supermarkets, and incentivized marketing systems adopted by brand owners to expand their sales are projected to bolster the market growth in the coming years.

Key Companies & Market Share Insights

The market is highly fragmented and is characterized by numerous small and medium-sized companies. This is mainly due to the nature of logistical indifference created by dairy producers in different countries. Dairy products are perishable and need to reach the production plant on time, this creates a disparity among the producers and small-& medium-sized entities taking advantage by sourcing local dairy on time to meet the production schedule.

Factors, such as territorial market size, competition intensity, capacity, labor availability, and development of local logistical infrastructure, are predicted to impact the distribution of final products. Most companies are directly involved in retailing through online shopping platforms, hypermarkets, supermarkets, specialty stores, and local convenience stores. Some of the prominent players in the global lactoferrin market include:

• Hilmar Cheese Company

• Pharming Group NV

• FrieslandCampina

• Synlait Milk Ltd.

• Ingredia SA

• MP Biomedicals

• Tatura Milk Industries Ltd.

• Glanbia plc

• APS BioGroup

• ProHealth

• Fonterra Cooperative Group Ltd.

• Farbest Brands

• InVitria

• Milei GmbH

• Ferrin-tech LLC

Lactoferrin Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global lactoferrin market report based on function, application, and region:

• Function Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

  • Iron Absorption

  • Anti-inflammatory

  • Intestinal Flora Protection

  • Antibacterial

  • Immune Cell Stimulation

  • Antioxidant

• Application Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

  • Food & Beverages

  • Infant Formula

  • Sports & Functional Foods

  • Pharmaceuticals

  • Personal Care Products

  • Animal Feed

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • UAE