Lactoferrin Market Size, Share, Growth Analysis, By Function(Iron Absorption, Intestinal Flora Protection), By Application(Personal Care Products, Infant Formula), By Region - Industry Forecast 2024-2031

Lactoferrin Market size was valued at USD 245 million in 2019 and is poised to grow from USD 265.83 million in 2023 to USD 553.94 million by 2031, growing at a CAGR of 8.5% in the forecast period (2024-2031).

The Lactoferrin market is relatively fragmented, with a high level of competition. Few large players, like Hilmar Cheese Company, Pharming Group NV, and Synlait Milk Ltd., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'Tatura Milk Industries Ltd.', 'Fonterra Co-operative Group Limited', 'Morinaga Milk Industry Co., Ltd.', 'Glanbia Nutritionals', 'FrieslandCampina DMV', 'Synlait Milk Ltd.', 'Tatua Co-operative Dairy Company Limited', 'Ingredia SA', 'Milei GmbH', 'Agennix AG', 'Westland Milk Products', 'ProHealth, Inc.', 'Proline Biotec', 'Metagenics, Inc.', 'Ferrin-Tech, LLC', 'Vitalus Nutrition Inc.', 'Bega Cheese Limited', 'ProBio Health Holding Company Ltd.', 'Farbest Brands', 'Avestia Pharma', 'In April 2022, Leniolisib, a potential treatment for activated phosphoinositide 3-kinase delta syndrome (APDS) in children, must first pass through the regulatory process of having an agreed-upon Paediatric Investigation Plan (PIP) before it can be approved for sale on the market. Leniolisib has been given the Promising Innovative Medicine (PIM) designation, which is an early indicator that it may be eligible for the Early Access to Medicines Scheme run by the MHRA.', 'In May 2021, The Governor of Kansas, Laura Kelly, and representatives from Hilmar Cheese Company, Inc. announced that the Company has decided to construct a brand new, cutting-edge cheese and whey protein production plant in Dodge City, Kansas.', 'In September 2020, FrieslandCampina Ingredients announced that it will increase the amount of lactoferrin it can make in Veghel, Netherlands, by 60 metric tonnes by the year 2022. This will help the company's Early Life Nutrition and Adult Nutrition segments grow strategically. With its new capacity of 70 mt per year, FrieslandCampina Ingredients will be the biggest producer of lactoferrin in the world.'

Demand for lactoferrin-related products is likely to go up because consumers are becoming more aware of health and diet, and because skin-related health problems are becoming more common. Lactoferrin is thought to have antiviral, antibacterial, antiparasitic, catalytic, and anti-allergic properties and functions, which is why the pharmaceutical and personal care industries are expected to drive lactoferrin product demand.

Demand for lactoferrin has skyrocketed in recent years. Infant formula was until 2015 thought to be the primary use. While research continues, the focus is now squarely on potential uses in areas including food, pharmaceuticals, and nutritional supplements. An increasing number of people in both industrialized and developing nations are turning to dietary supplements containing additional lactoferrin as an alternative to consuming artificial compounds.

Asia-Pacific accounted for the biggest regional market with more than 42.0% of the revenue in the year 2021. India, China, and Japan are driving the growth of the region's markets, which are also growing because more people are living there and they have more money to spend. Also, the market for lactoferrin in the region is likely to grow because more people are getting aware of infant nutrition, personal care, and pharmaceutical products, and more people are interested in buying organic products.