North America Lactoferrin Market By Function (Iron absorption, Intestinal flora protection, Immune cell stimulation, Antioxidant, Antibacterial and Anti-inflammatory), By Application (Pharmaceuticals, Food & Beverages, Personal Care Products, Infant Formula, Sports & Functional Foods and Animal Feed), By Country, Growth Potential, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Get in-depth analysis of the COVID-19 impact on the North America Lactoferrin Market
Market Report Description
The North America Lactoferrin Market would witness market growth of 8.26% CAGR during the forecast period (2021-2027).
Lactoferrin refers to a protein supplement that is available in milk. It is utilized as medicine for the treatment of various diseases such as hepatitis C, stomach & intestinal ulcers, and diarrhea. It also plays the role of antioxidant against viral and bacterial infections. It offers various advantages for the body that involves preventing tissue damage, activating the immune system, reducing the possibility of cancer, and other advantages that are beneficial for the overall growth of the body. It is completely safe to consume in food; though, its high consumption can cause some side effects. It is highly available across online as well as offline retail channels. Moreover, it is majorly available in the form of powder.
North America is home to some of the key market players, hence is a leading region of the global lactoferrin market. In addition, the high availability of lactoferrin across different supermarkets and hypermarkets in this region would propel the adoption of the products. The key market players are adopting various strategies such as branding & marketing initiatives that have boosted the popularity of their items using informative leaflets and circulars, hence accelerating the demand for lactoferrin in the regional market.
Makers are aiming to understand the constantly changing consumer purchasing behavior in order to cater to the ever-changing demands. Companies are increasingly putting hefty investment in packaging and improvements of ingredients based on the fact that if the point-of-purchase is a specialty store, online shopping portal, or club warehouse. Consumers prefer organic products that have fewer carbon footprints. Various research and experiments further bolster the advantages provided by lactoferrin in several applications that would fuel its demand over the upcoming years.
Lactoferrin has anti-inflammatory effects that may be effective in the pathophysiology of cases regarding COVID-19. The demand for immunity boosters is propelled by the unavailability of a vaccine or cure for the novel coronavirus in 2020. Preventive steps for the COVID-19 infection have achieved massive traction around the globe, leading to higher demand for products based on lactoferrin in 2020.
The USA market dominated the North America Immune cell stimulation Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $10,736 Thousands by 2027. The Canada market is experiencing a CAGR of 8.9% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 11.1% during (2021 - 2027).
Based on Function, the market is segmented into Iron absorption, Intestinal flora protection, Immune cell stimulation, Antioxidant, Antibacterial and Anti-inflammatory. Based on Application, the market is segmented into Pharmaceuticals, Food & Beverages, Personal Care Products, Infant Formula, Sports & Functional Foods and Animal Feed. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Lactoferrin Market is Estimated to Reach USD 408 Million by 2027 at a CAGR of 8.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Royal FrieslandCampina N.V., Glanbia PLC, Fonterra Co-operative Group Limited, Moringa Milk Industry Co., Ltd., Ventria Bioscience, Inc. (InVitria), Farbest Brands, Bega Cheese Ltd (Tatura Milk Industries Ltd.), MP Biomedicals LLC (Valiant Co., Ltd.), Synlait Milk Limited, and Pharming Group NV.
Scope of the Study
Market Segments Covered in the Report:
- Iron absorption
- Intestinal flora protection
- Immune cell stimulation
- Food & Beverages
- Personal Care Products
- Infant Formula
- Sports & Functional Foods
- Animal Feed
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Royal FrieslandCampina N.V.
- Glanbia PLC
- Fonterra Co-operative Group Limited
- Moringa Milk Industry Co., Ltd.
- Ventria Bioscience, Inc. (InVitria)
- Farbest Brands
- Bega Cheese Ltd (Tatura Milk Industries Ltd.)
- MP Biomedicals LLC (Valiant Co., Ltd.)
- Synlait Milk Limited
- Pharming Group NV
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