Market Trends of Lactoferrin Industry
This section covers the major market trends shaping the Lactoferrin Market according to our research experts:
Strong Growth Potential in the Developing Countries
The consumer’s preference for cosmeceutical products that combine cosmetic and pharmaceutical features, such as acne treatment and anti-aging, is increasingly becoming popular and is estimated to witness growth at 10% - 20% per annum in the Asia-Pacific region. Personal care is a major market in China, Australia, and India. Hence, lactoferrin is expected to record a surging demand for its applications in acne care products, as lactoferrin combined with vitamin A and zinc acts as a key ingredient for mild to moderate acne. Dairy proteins are considered the most important sources of bioactive peptide. There has been an increase in the usage of these peptides in various sports nutrition and nutraceuticals, owing to the rise in awareness on various health issues, along with growing population and increasing disposable income.
Europe Holds the Major Share
Owing to the robust performance in Germany and the United Kingdom, Europe generated a significant revenue share during the review period. Germany's most innovative food and industry sectors include the dairy industry with approximate milk production volume for 313 million metric ton in 2017. This, in turn, has provided a great opportunity to the lactoferrin manufacturers with increased application in different dairy products, such as organic yogurts. The increasing demand for performance nutrition is also driving the market. Consumers have started to opt for healthier beverages rather than carbonated drinks and soft drinks
