According to the report titled ‘Global Lactoferrin Market - Analysis By Application, Function, Distribution Channel, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global lactoferrin market reached a value of USD 514.3 million in 2020 and is anticipated to record a healthy growth rate over the analysis period 2021-2026.

As per the report findings, rising consumer awareness regarding superfood ingredients and benefits associated with supplements is fueling global lactoferrin market growth.

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In terms of function, the industry is split into anti-bacterial, anti-inflammatory, and iron absorption. The iron absorption segment is expected to progress at a momentous pace over the analysis period. This can be ascribed to the iron-binding characteristic of lactoferrin which initiates a bacteriostatic effect, making it favorable for use in the treatment of anemia and other iron-deficiency-related diseases. Moreover, it also aids in lowering inflammatory reactions in the human body.

Considering distribution channels, the market is divided into supermarkets/hypermarkets, online retail, and pharmacy. The supermarkets segment captures high demand share than other channels, however, increasing internet penetration and rising customer inclination toward e-commerce platforms will augment the growth of the online retail segment in the upcoming years.

With respect to geographical bifurcation, global lactoferrin industry size and scope are defined by North America (United States, Canada), Europe (United Kingdom, Germany), Asia Pacific (China, Japan), and LAMEA. Asia Pacific market is anticipated to grow tremendously in the upcoming years, creditable to prevalence of a massive consumer base, rising birth rates, and the presence of some key players in the region.

Elaborating on the competitive landscape, Morinaga Milk Industry Co., Ltd., Glanbia PLC, Beston Global Food Co., Synlait Ltd., Royal FrieslandCampina N.V., and Bega Cheese Ltd are the prominent players in global lactoferrin business sphere. These companies are focusing on R&D investments and partnerships to elevate their position in the marketplace.