According to a new report Global Lactoferrin Market, published by KBV research, The Global Lactoferrin Market size is expected to reach $408 Million by 2027, rising at a market growth of 8.5% CAGR during the forecast period.
The iron absorption segment obtained the maximum revenue share of the lactoferrin market in 2020. In addition, the segment would exhibit a similar kind of position even during the forecasting period. The deficiency of iron generally results in anemia, which approximately affects 3 out of 10 individuals of the worldwide population.
The personal care product application segment would display the fastest growth rate during the forecast period. Factor such as the increase in the product demand in the personal care industry because of its emollient nature and inherent properties that assist in decreasing skin inflammation is responsible for the growth of this segment. It does this by restricting the generation of cytokine mediators that is responsible to cause inflammation. The use of lactoferrin as a non-toxic and anti-cancer agent is one of the major benefits of lactoferrin.
North America procured the prominent revenue share of the global lactoferrin market in 2020. The US was the biggest market in this region. The growth of the US market is fueled by the surge in cases of digestive distresses. Moreover, the regional market would witness bright growth prospects due to the increasing number of specialty stores, supermarkets, hypermarkets, and incentivized marketing systems deployed by brand owners in order to increase their sales.
Full Report: https://www.kbvresearch.com/lactoferrin-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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