Global Bovine Lactoferrin Market 2021-2028 Size, Share, Growth Factors, Revenue, Competitive Landscape, Forecast Report
Pune, India, Nov. 24, 2021 (GLOBE NEWSWIRE) — The global bovine lactoferrin market size is projected to reach USD 949.0 million by the end of 2027. Technological advancements in manufacturing processes will have a positive impact on the growth of the overall market in the coming years. According to a report published by Fortune Business Insights, titled “Bovine Lactoferrin Market Size, Share & COVID-19 Impact Analysis, By Product (Spray-dried, and Freeze-dried), By Application (Infant Formula, Pharmaceuticals, Dietary Supplements, Food, and Others), and Regional Forecast, 2020-2027,” the market was worth USD 546.6 million in 2019 and will exhibit a CAGR of 5% during the forecast period, 2020-2027.
Lactoferrin is an anti-microbial that has the ability to fight severe diseases such as Crohn’s disease. The product is a protein that protects the body from necrotizing enterocolitis and is also used to reduce conditions such as diarrhea. The product is said to boost the fight against intestinal ulcers and critical diseases such as hepatitis C. Accounting to its properties, lactoferrin is used to treat viral infections. The substance is found in human milk like colostrum, the first milk produced after the baby is born. Due to several advantages of the product with regard to human health, bovine lactoferrin is being studied on a wider scale across the world. The massive investments in research and development of the product associated with its effects on human health will bode well for the growth of the overall market in the coming years.
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List of Key Players in Bovine Lactoferrin Market:
- FrieslandCampina DOMO, Amersfoort, Netherlands
- Synlait Ltd., Canterbury, New Zealand
- Glanbia Plc., Kilkenny, Ireland
- Bega Bionutrients, Melbourne, Australia
- Saputo Dairy Australia Pty Ltd., Victoria, Australia
- Fonterra Co-operative Group, Auckland City, New Zealand
- Armor Protéines, Saint-Brice-en-Coglès, France
- Hilmar Cheese Company, Inc., California, U.S
- Murray Goulburn Co-operative Co. Limited, Victoria, Australia
- Ingredia, Arras, France
To get to know more about the short-term and long-term impact of COVID-19 on this market,
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Despite Several Barriers, Covid-19 Pandemic to Present Several Growth Opportunities
The recent coronavirus outbreak has created a sense of panic across the world. As the Covid-19 cases continue to rise, governments of several countries across the world are taking strict measures to curb the spread of the disease. Although this has had a negative impact on several businesses, the bovine lactoferrin market is likely to derive growth from this situation. Recent market studies have indicated that bovine lactoferrin can also be used in the fight against coronavirus; a factor that is pivotal to the growth of the market. As a result, the Covid-19 pandemic will have a positive impact on market growth.
March 2019 – Hong Kong Jin Gang Trade Holding Limited announced that it has completed the acquisition of Westland Co-operative Dairy Company Limited with an aim to strengthen its market position in New Zealand.
April 2018 – Ingredia announced the launch of a new product in the lactoferrin space. The company introduced PROFERRIN lactoferrin in the global market. This product was intended to be used in improving gut health and to exhibit anti-microbial and anti-inflammatory properties.
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