Latin America Lactoferrin Market Size & Outlook, 2023-2028
Latin America lactoferrin market, 2017-2028 (US$K)
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Latin America lactoferrin market highlights
- The Latin America lactoferrin market generated a revenue of USD 21,228.5 thousand in 2023.
- The market is expected to grow at a CAGR of 8.1% from 2024 to 2028.
- In terms of segment, iron absorption was the largest revenue generating function in 2023.
- Intestinal Flora Protection is the most lucrative function segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2024 to 2028.
Latin America data book summary
| Market revenue in 2023 | USD 21,228.5 thousand |
| Market revenue in 2028 | USD 31,358.6 thousand |
| Growth rate | 8.1% (CAGR from 2023 to 2028) |
| Largest segment | Iron absorption |
| Fastest growing segment | Intestinal Flora Protection |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2028 |
| Quantitative units | Revenue in USD thousand |
| Market segmentation | Iron Absorption, Antiinflammatory, Intestinal Flora Protection, Antibacterial, Immune Cell Stimulation, Antioxidant |
| Key market players worldwide | Hilmar Cheese Company, Pharming Group, FrieslandCampina, Synlait Milk Ltd, Ingredion Inc, MP Biomedicals, Glanbia PLC, Fonterra Co-operative Group |
Other key industry trends
- In terms of revenue, Latin America region accounted for 7.7% of the global lactoferrin market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2028.
- Europe is the fastest growing regional market and is projected to reach USD 94,359.7 thousand by 2028.
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Lactoferrin Market Scope
Lactoferrin Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America lactoferrin market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to lactoferrin market will help companies and investors design strategic landscapes.
Iron absorption was the largest segment with a revenue share of 29.18% in 2023. Horizon Databook has segmented the Latin America lactoferrin market based on iron absorption, antiinflammatory, intestinal flora protection, antibacterial, immune cell stimulation, antioxidant covering the revenue growth of each sub-segment from 2017 to 2028.
Brazil and Argentina were observed to be some of the largest markets for lactoferrin within the region. The demand for lactoferrin in the region is driven by various factors including rising incidences of digestive issues & skin disorders, and advancements in technology as regards the production of milk and milk-based products.
Younger and adult consumers are more becoming more receptive to health and wellness trends in the country, thereby leading to increasing consumption of lactoferrin. Furthermore, growing consumer interest in healthy lifestyles coupled with untapped opportunities in Latin America is some of the other factors that are expected to offer the regional market a healthy prospect.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America lactoferrin market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America lactoferrin market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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Latin America lactoferrin market size, by country, 2017-2028 (US$K)
Latin America Lactoferrin Market Outlook Share, 2023 & 2028 (US$K)
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