Bovine Colostrum Market - Size, Industry Share, Growth Trends and Forecasts (2023 - 2030)

By Form :

The form segment is bifurcated into powder and liquid. In 2022, the liquid segment held the highest market in the bovine colostrum market share. The extensive deployment of it in various food and medicinal products to provide health benefits to the immune system is driving the market. In addition, the ability of this colostrum to improve cases of gastronomical inflammation, and respiratory among other diseases is also proliferating the market. Colostrum BioTec GmbH, headquartered in Europe, specializes in manufacturing liquid colostrum that contains a unique concentration of immunoglobulin G with an adequate amount of amino acids, minerals vitamins, enzymes, trace elements, and natural growth factors. Hence, the wide scope of health benefits offered by it is propelling the bovine colostrum market demand.

However, the solid segment is projected to grow at the fastest CAGR during the forecast period. Sold bovine serum is present in the form of tablets, capsules, and powder in the market. The tablets and powders are added in various beverages such as smoothies, and shakes or as an ingredient in recipes for foods such as protein bars or baking goods. Hence, the versatility offered by solid bovine serum is boosting the need for solid colostrum in the global bovine colostrum market.

By Application :

The application segment is categorized into dietary supplements, sports nutrition, functional foods, animal nutrition, infant formula, and others. In 2022, the functional food segment accounted for the largest market share. The growth of the segment is attributed to the wide adoption of functional food due to the rising awareness among consumers regarding the useful nutrients present in functional food. Additionally, the analysis of segmental trends shows that evolving lifestyles and changing trends in eating habits are other influencing factors that propel the bovine colostrum market trends.

Moreover, the dietary supplements segment is expected to witness the fastest CAGR in the market over the forecast period. The rising awareness regarding self-care among youngsters is expected to increase the demand for dietary supplements over the forecast period. In addition, segment trends analysis shows that the rising consumer need for macronutrients in the diet is another significant factor that is expected to boost the need for dietary supplements in the global bovine colostrum market.

By End Use Industry :

Based on the end-use industry, the market is classified into food & beverages, personal care & cosmetics, pharmaceuticals, animal feed, and others. The food & beverages sector held the largest market share of 53.21% in the overall bovine colostrum market share. The wide scope of applications including functional food, sports nutrients, and instant formula is contributing to the growing demand for it in the food & beverage sector. In addition, the rising consumer demand for healthy food alternatives such as functional food is also proliferating the food & beverage sector in the bovine colostrum market trends.

However, the personal care & cosmetic segment is expected to register the fastest CAGR in the market over the forecast period. The growing adoption of natural ingredients in cosmetics that offer various benefits due to the presence of components including cytokines, bioactive peptides, and lactoferrin, among others is expected to boost the market. Moreover, the deployment of it in various skincare and cosmetics products including moisturizers, and skin whitening creams owing to its anti-aging, and anti-inflammatory characteristics is also driving the bovine colostrum market expansion.

By Distribution Channel :

Based on the distribution channel, the market is bifurcated into online and offline. In 2022, the online segment accounted for the highest market share in the bovine colostrum market. The online segment is classified as a company-owned website and an e-commerce platform. The presence of it in various forms in the e-commerce platform such as tablets, capsules, and functional foods, among others is propelling the bovine colostrum market. Additionally, the analysis of segment trends shows that the presence of an enhanced shopping experience, attractive discounts, and sales are also driving the online segment.

Moreover, the offline segment is expected to register the fastest CAGR in the bovine colostrum market. The offline segment is divided into hypermarkets/supermarkets, convenience stores, specialty stores, drug stores, and health & wellness stores. The availability of premium products in the specialty stores owned by the key players or other distributors is also propelling the offline segment.

By Region :

The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

In 2022, Asia Pacific accounted for the highest market share at 35.21% valued at USD 43.41 million, and is expected to reach USD 82.41 million in 2030. In Asia Pacific, India accounted for the highest market share of 37.48% during the base year of 2022. As per the bovine colostrum market analysis, this is due to the rising government initiatives to address all forms of malnutrition. For instance, the Indian Government launched the Eat Right India movement along with the 16 largest food and beverage manufacturers in the country to promote the adoption of healthy alternatives. Additionally, the analysis of the market shows that the shifting consumer taste toward natural and functional food products to adopt a more holistic approach to a balanced diet is another significant factor proliferating the market in the region.

However, Europe is expected to register the fastest CAGR of 9.9% in the market during the forecast period. The growing awareness among consumers about food safety in the region is expected to proliferate the demand. In addition, the market analysis depicts that the rising concerns regarding health among consumers and government are another significant factor driving the market.