The global bovine lactoferrin market size is projected to reach USD 949.0 million by the end of 2027. Technological advancements in manufacturing processes will have a positive impact on the growth of the overall market in the coming years. According to a report published by Fortune Business Insights, titled “Bovine Lactoferrin Market Size, Share & COVID-19 Impact Analysis, By Product (Spray-dried, and Freeze-dried), By Application (Infant Formula, Pharmaceuticals, Dietary Supplements, Food, and Others), and Regional Forecast, 2020-2027,” the market was worth USD 546.6 million in 2019 and will exhibit a CAGR of 5% during the forecast period, 2020-2027.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/bovine-lactoferrin-market-101656
Lactoferrin is an anti-microbial that has the ability to fight severe diseases such as Crohn’s disease. The product is a protein that protects the body from necrotizing enterocolitis and is also used to reduce conditions such as diarrhea. The product is said to boost the fight against intestinal ulcers and critical diseases such as hepatitis C. Accounting to its properties, lactoferrin is used to treat viral infections. The substance is found in human milk like colostrum, the first milk produced after the baby is born. Due to several advantages of the product with regard to human health, bovine lactoferrin is being studied on a wider scale across the world. The massive investments in research and development of the product associated with its effects on human health will bode well for the growth of the overall market in the coming years.
Increasing Number of Product Launches will Contribute to Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the constant innovations associated with bovine lactoferrin, coupled with the increasing number of variants introduced by large scale companies, has had the highest impact on the growth of the market in recent years. The report includes the strategies adopted by these companies, along with their respective products in bovine lactoferrin industry. In April 2018, Ingredia announced the launch of a new lactoferrin in the global market
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