Lactoferrin is a type of iron-binding glycoprotein which is mostly secreted from bodily fluids including milk, saliva, tears, etc. It provides anti-bacterial resistance to infants and also has anti-carcinogenic properties.
Major factors driving growth of the global lactoferrin market include high adoption of lactoferrin in infant formulas, which helps to boost immune systems of infant and helps to fight bacterial infections. Increasing use of lactoferrin in various applications such as pharmaceuticals, cosmetics, animal feed, functional foods is another important factor expected to contribute growth in the global lactoferrin market. However, various side effects associated with over consumption of lactoferrin is a major factor restraining growth of this market over the forecast period.
The global lactoferrin market has been segmented on basis of function, application, and region. On basis of function, the global lactoferrin market is segmented into iron absorption, anti-inflammatory, intestinal flora protection, antibacterial, immune cell stimulation, and antioxidant. Iron absorption accounted for highest revenue share among all function segments, owing to its antibacterial and anti-fungal properties.
On the basis of applications, the market is segmented into food & beverages, infant formula, sports & functional food, animal feed, pharmaceuticals, and personal care products. Infant formula emerged as largest segment with highest revenue contribution of XX.X%. This can be attributed to various health benefits of lactoferrin, increasing urbanization, and higher disposable incomes.
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On the basis of region, the global lactoferrin market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is estimated to dominate the global lactoferrin market in terms of revenue, owing to factors such as high birth rate of infants in emerging economics such as China, and India in countries in the region. Europe is expected to account for second-highest revenue share, owing to high demand for functional foods in counties in the region. North America is also growing significantly, owing to high demand for lactoferrin from pharmaceuticals industry in countries in the region.
Key players in the global lactoferrin market include Fonterra Co-Operative Group Ltd., Glanbia Nutritionals, Synlait Milk Ltd., Vitalus Nutrition Inc., Metagenics, Inc., Ingredia SA, Agennix Inc., Morinaga Milk Industry Co. Ltd., Taradon Laboratory S.P.R.L, and Ventria Bioscience Inc.