The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The report offers actionable and valuable market insights of Lactoferrin. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Lactoferrin Market across various industries and regions.
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The global Lactoferrin Market was estimated to be worth US$ 253.36 Mn in the year 2022 and is expected to grow with a steady CAGR of 8% during the forecast period, 2022- 2032. By the end of 2032, the market is predicted to reach a global valuation of US$ 546.77 Mn.
|Estimated value of the Lactoferrin Market in 2021||USD 234.5 Mn|
|Projected value of the Lactoferrin Market in 2022||US$ 253.36 Mn|
|Projected value of the Lactoferrin Market in 2032||US$ 546.77 Mn|
|CAGR during the forecast period, 2022-2032||8%|
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Lactoferrin market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Lactoferrin
This newly published and insightful report sheds light on Market Insights of Lactoferrin, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Lactoferrin Market.
Key Segments Covered in the Craft Beer Industry Survey
By Function :
- Immune Cell Stimulation
- Intestinal Flora Protection
- Iron Absorption
By Application :
- Animal Feed
- Personal Care Products
- Sports & Functional Foods
- Infant Formula
- Food & Beverages
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Key Takeaways from the Market Study
- The global lactoferrin market is expected to reach a market size worth US$ 253.36 Mn at the end of 2022.
- With a revenue share of over 41.5%, Asia Pacific will remain the largest regional market throughout the forecast period.
- Iron absorption market accounted for over 28.5% of the overall revenue.
- Infant formula segment accounts for more than 38.5% of the market’s revenue
- North America to accumulate a market share of 38% in 2022.
Increased awareness about maintaining gut health is prompting consumers to opt for lactoferrin products, providing manufacturers with the opportunity to introduce new products into the market, says a Fact.MR analyst.
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During the forecast period, both new entrants and existing players will focus on increasing their capacity in order to achieve a higher share of the market. The result will be a highly fragmented market by the year 2032.
- The Beston Global Food Company Ltd expanded its lactoferrin production capacity to 25 metric tonnes in 2021 in response to a rising demand for lactoferrin.
- Lactoferrin-based infant nutrition products made by Jatenergy Ltd., an Australian company, have seen an increase in sales. The company reported USD 5.4 million in sales in March 2020.
- To meet the growing demand in the market, Friesland Campina DOMO announced in September 2020 it will increase lactoferrin production in Veghel from 9 tons to 60 tons by 2022.
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