Surge in clinical trials by pharmaceutical companies for the establishment of lactoferrin is expected to favor growth of the global bovine lactoferrin market, says Fortune Business Insights in a report, titled “Bovine Lactoferrin Market Size, Share & Industry Analysis, By Product (Spray-dried, and Freeze-dried), By Application (Infant Formula, Pharmaceuticals, Dietary Supplements, Food, and Others), and Regional Forecast, 2019-2026.” The global bovine lactoferrin market size was valued at USD 507.3 Million in 2018 is expected to reach USD 551.8 Million by 2026, exhibiting a CAGR of 1.0%.
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The Prominent Companies Operating In The Bovine Lactoferrin Market Are:
- MILEI GmbH
- Synlait Ltd.
- Glanbia Plc.
- Bega Cheese Ltd.
- Fonterra Co-operative Group
- Armor Proteines
- FrieslandCampina DOMO
- Warrnambool Cheese and Butter Factory Company Holdings Limited
- Hilmar Cheese Company, Inc.
- Westland Co-operative Dairy Company Limited
- Murray Goulburn Co-operative Co. Limited (Saputo Dairy Australia Pty Ltd)
- Nutriscience USA LLC.
As per the report, on the basis of product type, the bovine lactoferrin market is segmented into spray-dried and freeze-dried. The freeze-dried segment is predicted to account for the highest share in the market owing to the technical superiorities of freeze-dried lactoferrin including better quality and purity of the product, and comparatively higher iron-binding capacity over spray-dried lactoferrin.
The lower operating cost of freeze-drying technology is also an important factor that has impelled manufacturers to employ freeze-drying technology for the manufacturing of lactoferrin. This factor will further aid the growth of the market.
The report provides a summary of the bovine lactoferrin market. It calls attention to the recent developments witnessed in the market. Acquisitions and mergers commenced by key players in the market are thoroughly explained.
Besides this, it also offers superior insights into growth drivers and restraints.
Increasing Technological Advancements In Lactoferrin Will Propel Growth
The rising focus of key players towards optimizing the manufacturing of lactoferrin. This factor has led to the introduction of new techniques of lactoferrin production, which then offers advanced products into the market.
The operational and clinical benefits of the freeze-drying technique have impelled market players to adopt the manufacturing technique of lactoferrin. Furthermore, bovine lactoferrin market trends rising demand for bovine lactoferrin due to its advantages such as minimal effects of denaturation of proteins, improved quality and purity of the final product and better stability.
The announcement by Berga cheese Ltd., for the expansion of its Koroit, Australia plant will facilitate the growth of the market during the forecast period. For instance, Bega Cheese Ltd. announced the proposed expansion of its Koroit, Australia plant.
The proposed expansion is estimated to cost US$ 34 Mn and will double the lactoferrin production capacity of Bega Cheese Ltd.
Major Segmentation includes;
- Infant Formula
- Dietary Supplements
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Expansion of Dunsadel plant by Synlait ltd. Will Bolster Growth
The announcement of Synlait Ltd., for the development of its plant Will aid the growth of the market during the forecast period. For instance, Synlait Ltd., a canterbury-based dairy exporter expands into new regions and products, including domestic sales of milk and cheese.
The $18m expansion to its Dunsandel lactoferrin facility is expected to double its manufacturing capacity. Furthermore, the growing focus of manufacturers and researchers with an aim to reduce the operational costs and offer improved and advanced products by implementing new techniques for manufacturing lactoferrin.
This factor is predicted to encourage the growth of the market. In addition, the increasing focus of companies towards the agglomeration technique along with the freeze-drying process to obtain a uniform particle size of lactoferrin and improve its solubility is expected to further boost the bovine lactoferrin market shares during the forecast period.
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