Lactoferrin Market Size, Share & Trends Report

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

  • Report ID: GVR-1-68038-871-8
  • Number of Pages: 125
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the lactoferrin market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for lactoferrin market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of lactoferrin market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Lactoferrin Market Categorization:

The lactoferrin market was categorized into three segments, namely function (Iron Absorption, Anti-inflammatory, Intestinal Flora Protection, Antibacterial, Immune Cell Stimulation, Antioxidant), application (Food & Beverages, Infant Formula, Sports & Functional Foods, mPharmaceuticals, Personal Care Products, Animal Feed), and region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).

Segment Market Methodology:

The lactoferrin market was segmented into function, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The lactoferrin market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twelve countries, namely, the U.S., Canada, Mexico; Germany; the UK; France; China; India; Japan; Australia; Brazil; UAE.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Lactoferrin market companies & financials:

The lactoferrin market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Hilmar Cheese Company, Inc. - Established in 1984 and headquartered in California, U.S., Hilmar Cheese Company specializes in the production of cheese and whey protein. In 2004, Hilmar Ingredients was founded as a subsidiary of Hilmar Cheese Company, Inc., focusing on the manufacturing of whey protein and lactose. With production facilities in California and Texas, the company serves customers in more than 50 countries across Europe, North America, Asia Pacific, and Central & South America. Hilmar Cheese Company's manufacturing facilities are certified to meet the requirements of the Global Food Safety Initiatives (GFSI). They produce natural cheese, such as Cheddar Colby and Monterey Jack, using pasteurized milk sourced from over 230 family-owned dairies. Hilmar Ingredients offers a range of whey protein products, including concentrates, hydrolysate, and lactose-free Whey Protein Concentrate. As of December 2019, the company employed 1,453 individuals.

  • Pharming Group NV - Pharming Group NV, founded in 1988 and headquartered in Leiden, Netherlands, specializes in the production and advancement of therapeutic proteins for human use. Additionally, the company manufactures lactoferrin, a key ingredient in various commercial food products and nutritional supplements. Notably, Pharming Group NV has obtained FDA approval for its lactoferrin products. With a strong focus on research and development, the company is making substantial investments to create innovative medical solutions. Among its notable products is Ruconest (rhC1INH), which aids patients in combating angioedema attacks. Pharming Group NV operates manufacturing facilities and conducts business operations in both the Netherlands and the United States. As of December 2020, the company boasts a workforce of 262 employees.

  • FrieslandCampina - FrieslandCamina, founded in 1871 and headquartered in Amersfoort, Netherlands, is a global company with branches in 38 countries. It exports its products to approximately 100 countries worldwide. By the end of 2020, the company had a workforce of 23,877 employees and collaborated with 11,100 dairy farms, which supplied around 10.064 billion kilos of milk. FrieslandCampina specializes in the manufacturing and sale of consumer products, including cheese and desserts, infant nutrition, and dairy-based beverages. Its subsidiaries operate in Africa, Asia, and European countries. Additionally, the company provides half-finished products and ingredients to manufacturers in the food, infant nutrition, and pharmaceutical industries. FrieslandCampina operates through four business groups: Consumer Dairy, Specialized Nutrition, Ingredients, and Dairy Essentials. The Consumer Dairy segment focuses on producing yogurt, milk, condensed milk, cheese, butter, dairy-based beverages, and creams for end-users in various sectors such as bakery, confectionery, and restaurants. Specialized Nutrition offers brands like Susu Bendera, Optimel HK, and Friso, catering to consumer groups ranging from infants to adults. This group is primarily active in the Asia Pacific, Europe, and the Middle East & Africa regions. The Ingredients group specializes in developing functional and nutritious ingredients using cheese whey, milk, and vegetables for infant and toddler nutrition products. Lastly, the Dairy Essentials group operates primarily in Europe and deals with milk powder, butter, and cheese.

  • Synlait Milk Ltd. - Synlait Milk Ltd was founded in the year 2000 and has its headquarters in Dunsandel, New Zealand. It operates as a subsidiary of Bright Dairy & Food Co., Ltd. and specializes in the production of nutritional milk powders and various other milk products. The company sources its milk from suppliers located within a 50-mile radius of its manufacturing plant. Synlait Milk's diverse product portfolio includes whole milk powders, skim milk powders, infant and adult nutrition powders, breastfeeding and pregnant mum formula, colostrum, lipidex phospholipid-rich powder, and night milk. With a processing capacity of 3.2 million liters of milk per day, the company can convert it into approximately 340 metric tons of milk powder. Synlait Milk's revenue growth can be attributed to several factors, including a 15% increase in cream and powder sales, a 21% increase in high-value consumer packaged infant formula sales, and a significant 33% increase in lactoferrin sales. The company's primary markets are Australia and New Zealand, which collectively contribute over 56% of its total sales. China follows with a 9% contribution, while the rest of Asia accounts for 25%. The Middle East and Africa contribute 7%, and the Rest of the World accounts for 3% of the company's sales. Furthermore, Synlait Milk has witnessed a substantial increase in lactoferrin production, with the volume rising from 8 tons in 2016 to an impressive 29 tons in the year 2020. As of 2020, the company employed a workforce of more than 316 individuals.

  • Ingredia SA - Ingredia SA, founded in 1991 and headquartered in Arras, France, is a privately held company and a subsidiary of La Prosperite Fermiere Societe Cooperative Agricole. The company specializes in the manufacturing and distribution of dairy products. Its diverse product portfolio includes bioactive ingredients, functional systems, milk proteins, and milk powders. Additionally, Ingredia SA offers a wide range of nutritional and functional products, such as dairy powders, nutritional proteins, protein isolates, micellar casein, milk protein concentrates, whey permeates, powdered whole and skim milk, and powdered cream. These high-quality products find applications in the health, food, and nutrition industries. With manufacturing and sales operations in the UAE, Singapore, the U.S., and France, Ingredia SA ensures a global presence to cater to the needs of its customers.

  • MP Biomedicals - MP Biomedicals, founded in 1959 and headquartered in California, United States, is a privately owned company that operates in multiple sectors. These sectors include diagnostic products, fine chemicals, chemistry, applications, dosimetry, and life sciences. The company specializes in the manufacturing and distribution of various milk proteins such as casein, lactalbumin, and lactoglobulin. Additionally, MP Biomedicals produces a wide range of proteins, including molecular biology enzymes, kinases and phosphatases, protease inhibitors, growth proteins, cytoskeleton and extracellular matrix proteins, as well as activators, inhibitors, and substrates. With regional operations and offices in Asia Pacific, Australia, and Europe, MP Biomedicals employs over 500 individuals as of 2020.

  • Tatura Milk Industries Ltd. - Tatura Milk Industries Ltd, founded in 1907 and headquartered in Victoria, Australia, is engaged in the production, distribution, and sale of dairy products. In addition to its core products such as milk, milk powders, and cream cheese, the company also manufactures lactoferrin, a key ingredient used in nutraceutical powders, yogurts, and infant formulas. The company's diverse product portfolio includes nutritional powders tailored for different life stages, catering to the specific needs of the elderly, adults, and newborns. Moreover, the cream and cheese products offered by Tatura Milk Industries Ltd are widely utilized in the hospitality sector, serving as essential ingredients for processed cheese, desserts, dips, pastry crusts, and savory snacks. With a workforce exceeding 2,000 employees as of 2019, the company continues to thrive in the dairy industry.

  • Glanbia PLC - Glanbia plc was established following the merger of Avonmore Foods plc and Waterford Foods plc. The company was founded in 1997 and is headquartered in Kilkenny, Ireland. It is a publicly traded company listed on both the Euronext Dublin (the Irish Stock Exchange) and the London Stock Exchange. Glanbia operates through two main business units, namely Glanbia Nutritionals and Glanbia Performance Nutrition. Glanbia Nutritionals specializes in providing nutritional and functional ingredient solutions, as well as precision premixes for the nutrition-enhanced food and beverage markets. They also offer cheddar cheese and protein ingredients that are used in various food products such as bars, cereal, bakery items, and dairy products. On the other hand, Glanbia Performance Nutrition focuses on manufacturing performance nutrition products, including protein powder, protein bars, ready-to-drink beverages, capsules and tablets, and smoothies. These products are distributed through specialty retail, mass retail, and online channels. Some of the well-known brands associated with Glanbia Performance Nutrition include Optimum Nutrition (ON), BSN Supplements, Isopure, Nutramino, ABB, ThinkThin, Amazing Grass, Body & Fit, and SlimFast. Glanbia has significant production facilities located in Ireland, Germany, the United States, China, and the United Kingdom. The company operates in more than 34 countries worldwide, including China, India, Brazil, and Australia. As of 2020, Glanbia has a workforce of 7,632 employees.

  • APS BioGroup - APS BioGroup, founded in 2003 and headquartered in Arizona, United States, is a privately held company engaged in the manufacturing, selling, and marketing of health products. The company provides a range of lactoferrin and colostrum products, available in powder fill sachets, tablets, and capsules. APS BioGroup's product portfolio includes whole colostrum powders, skim colostrum powders, immulox products, and specially formulated powders. These products find applications in animal nutrition, infant formula, sports nutrition, and dietary supplements. As of 2020, APS BioGroup employed more than 85 individuals.

  • ProHealth - ProHealth, founded in 1988 and headquartered in California, United States, is a privately held organization that specializes in the production, packaging, and distribution of health products. The company's primary focus is on manufacturing lactoferrin-based capsules, which are designed to boost immune strength and promote gastrointestinal health. In addition to these capsules, ProHealth also manufactures a wide range of other products, such as amino acids, antioxidants, energy supplements, essential fatty acids, minerals, multivitamins, probiotics, and salicylate supplements. These products serve various purposes, including immune support, digestive support, detoxification, pain management, sleep enhancement, adrenal and thyroid regulation, as well as energy optimization.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Lactoferrin Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2020, historic information from 2017 to 2019, and forecast from 2021 to 2028). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Lactoferrin Market Report Assumptions:

  • The report provides market value for the base year 2020 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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