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Global Bovine Lactoferrin Market Overview
Bovine lactoferrin is best known for fighting infections. Bovine lactoferrin have anticarcinogenic properties and correspondingly runs anti-bacterial bustle to human infants. The growing infections have elevated the demand for Bovine lactoferrin in the global market. The Bovine Lactoferrin market is expected to grow at a single-digit CAGR. Bovine Lactoferrin functions as an immune-modulator and antimicrobial protein, helps mature the gastrointestinal and immune system in new-borns, quandaries to DNA and other molecules in milk like casein, IgA, albumin, etc. The market is anticipated to showcase significant growth in the forecast period due to the rising demand for multifunctional protein across the regions.
The multifunctional protein eliminates any content, which is responsible for stimulating bacterial activity and helps to separate the iron, which is free in the body and is expected to drive the Bovine Lactoferrin market. Exclusively responsible for prevention and curing of infectious diseases, makes Bovine Lactoferrin widespread in the healthcare sector. This factor is expected to rocket the global Bovine Lactoferrin market over the forecast period.
Global Bovine Lactoferrin Market Dynamics
Cumulative Norm of Bovine Lactoferrin in Infant Formula to Drive Growth
Bovine Lactoferrin is one of the most protuberant protein in breast milk and breastfeeding is the best food for new-borns. Across the world, Bovine Lactoferrin’s bovine version has been legal for insertion in infant formulae and is being largely used in the alimentary product preparations for infants. This is expected to boost the global Bovine Lactoferrin market over the forecast period.
Moreover, the rising birth rate has led to an expansion in demand for infant formula-based products. According to the Population Reference Bureau, the world population in 2018 is 7.6 billion and is estimated to increase to 9.8 billion by 2050, which is a key driver for the rise in demand for Bovine Lactoferrin. The introduction of the two-child policy in China since 1 January, 2016 has further fuelled demand for Bovine Lactoferrin-based products in the country.
Prevalence of Online Shopping Sites
Rising use of modern technology and social sites is propelling the use of online shopping of Bovine Lactoferrin-based infant formula in the developed and developing countries. In developed countries, online sales of Bovine Lactoferrin-based infant formula have increased as compared to offline sales. Working mothers are an obvious area of focus for the e-commerce marketers in the Bovine Lactoferrin market. Sale of Bovine Lactoferrin-based infant formula products over the online shopping sites provides customers with a convenient option to purchase and choose from a wide variety of Bovine Lactoferrin-based infant formula products in much lesser time and thus acts as a price differentiator for non-premium consumers.
Increasing Lifestyle Diseases
In the recent past, there has been a stable upsurge in occurrences of lifestyle ailments, such as diabetes, obesity and high blood pressure due to changing lifestyle patterns and chaotic schedules. Thus, consumers are taking preventive measures for reducing the effects of lifestyle diseases. Hence, Bovine Lactoferrin should be consumed to prevent and reduce the effects of such diseases. This is expected to propel the growth of global Bovine Lactoferrin market.
Global Bovine Lactoferrin Market Segmentation
The global Bovine Lactoferrin market can be segmented on the basis of source as:
The global Bovine Lactoferrin market can be segmented on the basis of grade as:
The global Bovine Lactoferrin market can be segmented on the basis of end-use industry as:
The global Bovine Lactoferrin market can be segmented on the basis of the geographical region as:
Global Bovine Lactoferrin Market Regional Overview
Demand for premium Bovine Lactoferrin-based products is gaining popularity in North America, due to rising consumer awareness about high-quality Bovine Lactoferrin-based products available in the market. More specialized Bovine Lactoferrin-based products are also becoming increasingly available, particularly in Argentina and Mexico. The trend of production expansion by Bovine Lactoferrin manufacturers has gained popularity in Europe over the past few years. Increasing adoption of infant formula as a breast milk substitute, is the factor anticipated to fuel the demand for baby foods in major countries, such as the Asia Pacific, including India, China and Australia, among others, over the forecast period. Consumer buying decision for any particular Bovine Lactoferrin-based products in the MEA region is influenced by suggestions from physicians, pediatricians and pharmacists. In certain countries, such as Yemen, Bovine Lactoferrin-based products are only sold on a doctor’s prescription.
Global Bovine Lactoferrin Market Key Players
Some of the key market participants in the global Bovine Lactoferrin market are:
The research report presents a comprehensive assessment of the Bovine Lactoferrin market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Bovine Lactoferrin market segments such as geographies, source, grade, and end-use industries.
The Bovine Lactoferrin market report covers exhaustive analysis on:
Regional analysis for Bovine Lactoferrin Market includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments of Bovine Lactoferrin. The report also maps the qualitative impact of various market factors on market segments and geographies.