Summary
The Latin America, Middle East and Africa Lactoferrin Market would witness market growth of 9.1% CAGR during the forecast period (2021-2027).
The surge in the usage of rice flour in the manufacturing of lactoferrin is due to its massive availability in this region. Rice is one of the most highly cultivated crops in various countries of this region. In addition, the simple manufacturing and processing of lactoferrin from rice flour for utilization in nutritional supplements increase its traction among the various sources utilized to create lactoferrin.
Production of lactoferrin from rice flour also eradicates the phase of purification before converting it into the desired end product, which is expected to be the ideal source for the production of lactoferrin. Hence, these factors are creating new growth avenues for the market.
Lactoferrin is highly utilized in infant formula products due to its capability to bolster the immune system of the infant by improving anti-inflammatory and anti-infective activities and better iron absorption in the gut of the infant. An upsurge in consumer awareness about the significance of infant health and nutrition along with the rising number of working women would create new growth avenues for lactoferrin in the global market.
The infant formula markers are constantly launching unique products with an aim to enhance the taste profile of infant formula products without the need to reduce their nutritive value, thereby propelling the growth of the global lactoferrin market. Moreover, the consumers prefer supermarkets and hypermarkets as a preferred medium to buy lactoferrin products in the last couple of years due to a broad variety of product segments available at one location. Thus, these factors are likely to augment the growth of the global lactoferrin market during the forecasting period.
The Brazil market dominated the LAMEA Antioxidant Market by Country in 2020, thereby, achieving a market value of $656.2 Thousands by 2027. The Argentina market would witness a CAGR of 10.1% during (2021 - 2027). Additionally, The Saudi Arabia market is expected to witness a CAGR of 9.7% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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:
By Function
• Iron absorption
• Intestinal flora protection
• Immune cell stimulation
• Antioxidant
• Antibacterial
• Anti-inflammatory
By Application
• Pharmaceuticals
• Food & Beverages
• Personal Care Products
• Infant Formula
• Sports & Functional Foods
• Animal Feed
By Country
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA
Companies Profiled
• 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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