1. What is the projected Compound Annual Growth Rate (CAGR) of the Bovine Lactoferrin Market?
The projected CAGR is approximately 3.7%.
Bovine Lactoferrin Market by Product (Spray-dried, Freeze-dried), by Application (Infant Formula, Pharmaceuticals, Dietary Supplements, Food, Others), by North America (U.S., Canada) Forecast 2025-2033
The Bovine Lactoferrin Market size was valued at USD 654.0 USD Million in 2023 and is projected to reach USD 843.39 USD Million by 2032, exhibiting a CAGR of 3.7 % during the forecast period. Bovine lactoferrin, a protein found in cow's milk, comes in two main types: apo-lactoferrin and holo-lactoferrin, carrying the capability of iron ion binding as a different feature. It is well-praised for its ability to fight microbes and protect a baby's body cells, hence health supplements, pharmaceuticals products, and functional foods all include it. It's no secret that the primary purpose of Aloe Vera is to facilitate the healing of wounds. This compound is equally potent in the treatment of inflammations of the skin. The market taste is shifting toward functional foods and nutraceuticals at the moment which consequently stimulates the growth of bovine lactoferrin products. Apart from this, the study of cancer and viral infections' potential benefits also adds fuel to the market. It gives the impetus and new steps for developments in this area of the sphere.
Product:
Application:
End-user:
Beston Global Food Company Ltd (Australia)
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 3.7% from 2019-2033 |
Segmentation |
|
Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 3.7%.
Key companies in the market include MILEI GmbH (Germany), Bega Cheese Ltd. (Australia), Fonterra Co-operative Group (New Zealand), FrieslandCampina DOMO (Netherlands), Beston Global Food Company Ltd (Australia), SAVENCIA SA (France), Saputo Dairy Australia Pty Ltd. (Australia), Noumi Limited (Australia), Synlait Ltd. (New Zealand), Glanbia Plc. (Ireland), Ingredia (France).
The market segments include Product, Application.
The market size is estimated to be USD 654.0 USD Million as of 2022.
Introduction of Cost-effective Manufacturing Processes to Drive Market Growth.
Increasing Number of Hospitals and ASCs Identified as Significant Market Trend.
High Cost of Lactoferrin and Lactoferrin Added Products to Limit Product Adoption.
February 2023 - Morinaga Milk Industry Co., Ltd. acquired shares of Le May Production, a company focused on the import and export of infant and toddler milk, with an aim to contribute to the construction of nutritional infrastructure in Asia.
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