South Korea Lactoferrin Market Size & Outlook, 2023-2028
South Korea lactoferrin market, 2017-2028 (US$K)
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South Korea lactoferrin market highlights
- The South Korea lactoferrin market generated a revenue of USD 3,660.1 thousand in 2023 and is expected to reach USD 5,553.8 thousand by 2028.
- The South Korea market is expected to grow at a CAGR of 8.7% 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.
Lactoferrin market data book summary
| Market revenue in 2023 | USD 3,660.1 thousand |
| Market revenue in 2028 | USD 5,553.8 thousand |
| Growth rate | 8.7% (CAGR from 2023 to 2028) |
| Largest segment | Iron absorption |
| Fastest growing segment | Intestinal Flora Protection |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 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, South Korea accounted for 1.3% of the global lactoferrin market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2028.
- In Asia Pacific, China lactoferrin market is projected to lead the regional market in terms of revenue in 2028.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 5,553.8 thousand by 2028.
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Lactoferrin Market Scope
Lactoferrin Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea 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 30.09% in 2023. Horizon Databook has segmented the South Korea 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.
South Korea is one of the promising markets for lactoferrin owing to increasing health considerations in the country. Growing sales through the e-commerce platform for functional foods and beverages is fueling the demand for lactoferrin in the country. Increasing health awareness and rising disposable incomes are responsible for the increased per-capita spending on functional foods in the country.
South Korea has recorded increased sales of meal replacement products for slimming and convalescence and is expected to showcase similar trends over the forecast period. The outbreak of the COVID-19 pandemic is expected to increase the demand for lactoferrin in the country owing to its immunity-boosting properties.
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Our clientele includes a mix of lactoferrin market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea lactoferrin market , including forecasts for subscribers. This country databook contains high-level insights into South Korea lactoferrin market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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South Korea lactoferrin market size, by function, 2017-2028 (US$K)
South Korea Lactoferrin Market Outlook Share, 2023 & 2028 (US$K)
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