Global lactoferrin market is anticipated to be driven on account of increasing fortification in functional food products. Growing application of lactoferrin as an additive in food & beverage industry on account of providing anti-allergic and digestion stimulation is expected to favourably impact the market. Rising importance of bone and muscle growth stimulants in sports nutrition products is anticipated to result in promoting lactoferrin market growth in the near future. Increasing fortification of lactoferrin in infant formula on account of stimulating growth is foreseen to have a positive impact on the market. In May 2012, European Food Safety Authority deemed the application of lactoferrin safe to use in food products. This regulatory move is expected to result in increasing lactoferrin market demand in food & beverage industry over the forecast period.
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Growing application of lactoferrin in pharmaceuticals industry on account of excellent antibacterial and antiviral properties is expected to favourably impact the market over the forecast period. Increasing R&D expenditure of lactoferrin in cancer medication on account of showing promising results in mouth, lung and liver cancer treatment is anticipated to open new avenues for the market in the near future. Growing application of lactoferrin owing to its blood sugar regulation property is foreseen to have a positive impact on the market. Technological improvement for the treatment of osteoporosis, alzheimer’s and cardiovascular disorders is hence expected to augment lactoferrin market growth over the next seven years.
Rising R&D expenditure for the deployment of nanotechnology aimed at use in pharmaceuticals industry is expected to have a positive impact on the market in the near future. Lactoferrin market is expected to witness growth in personal care industry on account of exhibiting antioxidant and antibacterial properties to manufacture products such as anti-aging skin creams and hair conditioning creams. Key players in the lactoferrin market include Fonterra, Ventrua Bioscience, Pharming, Synlait Milk Limited and Metagenics. In August 2014, Bill and Melinda Gates Foundation funded a research by the University of Sydney to use lactoferrin in treating iron deficiency anaemia during pregnancy. In March 2015, Nestle filed a patent for whey based lactoferrin aimed at stimulating brain maturation, improving memory and learning speed in children.
Information Source: Grand View Research