Bovine Colostrum Market Forecast 2023 - 2030

Report ID : CBI_1047 |  Category : Pharmaceuticals And Healthcare   | Published Date:     |  Format :   ms word  ms Excel  PDF

Segments Covered :
By Form Powder and Liquid
By Application Dietary Supplements, Sports Nutrition, Functional Foods, Animal Nutrition, Infant Formula, and Others
By End Use Industry Food & Beverages, Personal care & Cosmetics, Pharmaceutical, Animal Feed, and Others
By Distribution Channel Online (Company Website, and E-commerce Platform) and Offline (Hypermarket/Supermarket, Convenience Store, Specialty Store, Drug Store, and Health & Wellness Store)
By Geography North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Snapshots :
Base Year: 2022
CAGR: 9.1%
Forecast Year: 2023 - 2030
Revenue 2022: $123.29 Mn
Revenue 2030: $243.23 Mn

Bovine Colostrum Market Forecast 2023 - 2030

Market Overview :

Consegic Business Intelligence analyzes that the bovine colostrum market is growing with a CAGR of 9.1% during the forecast period (2023-2030), and the market is projected to be valued at USD 243.23 Million by 2030 from USD 123.29 million in 2022.

Market Definition :

Bovine colostrum is the first milk produced by cows during the initial days after giving birth. It is a nutrient-rich fluid that provides essential nutrients and immune factors to newborn calves. Bovine colostrum is known for its high concentration of proteins, growth factors, antibodies, vitamins, minerals, and other bioactive compounds. Bovine Colostrum offers various benefits to the immune system such as repair, growth, and maturation of several tissues. This type of fluid is suitable for a wide range of applications such as additives and ingredients in animal nutritional products and functional foods. In addition, colostrum offers several benefits for diseases including infectious diarrhoea, gastrointestinal infections, and gut-barrier malfunction, among others.

Bovine Colostrum Market :

Bovine Colostrum Market

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Market Dynamics :

Bovine Colostrum Market Dynamics

Drivers :

  • Increasing demand for functional food is accelerating the growth of the market

    Bovine colostrum has been used in the development of functional foods, which are food products designed to provide specific health benefits beyond basic nutrition. The inclusion of bovine colostrum in functional foods aims to capitalize on its nutrient content and potential bioactive properties. Functional products are often marketed for their potential immune-boosting, gut health-promoting, and overall health-supporting properties. The wide adoption of bovine colostrum in functional food to increase the health or medical benefits owing to the characteristics such as antioxidants, growth-promoting factors, and anti-inflammatory is accelerating the demand for bovine colostrum.

  • Growing awareness regarding the benefits of bovine colostrum

    The growing awareness among consumers regarding the advantages of bovine colostrum-based products is urging the manufacturers operating in the bovine colostrum market. Bovine colostrum may offer an attractive digestible, complete protein source that can be integrated into a calorically appropriate diet. Manufacturers introduce bovine colostrum in various products such as food and dietary supplements. This is due to the benefits offered by bovine colostrum including various attachment factors, hormones, and nutrients. PanTheryx, a health and nutrition company offer bovine colostrum that is Generally Recognized As Safe (GRAS) for specific food and beverages. Hence, the growing awareness regarding the benefits of bovine colostrum is driving market growth.

Restraint :

  • The increasing frequency of bacterial contamination is likely to hamper the market growth

    Bacterial contamination in bovine colostrum can occur during the collation, storage, or processing stages. The common bacteria that may contaminate colostrum include Escherichia Coli, and Salmonella. Bacterial contamination including various high counts of spoilage bacteria and human pathogens is likely to hinder the use of bovine colostrum in the food & beverage industry. Such contaminants cause hives, itching, and trouble breathing. In addition, the growing concern regarding the spread of zoonotic diseases that originates from bovine is also hindering the demand for bovine colostrum. Therefore, the rising concerns regarding the potential bacterial contaminants in bovine colostrum are likely to hamper the market growth.

Opportunities :

  • The ongoing research and development activities to improve processing techniques

    The introduction of improved processing techniques and novel methods for the identification and isolation of colostrum serum is anticipated to present lucrative opportunities to the key players operating in the bovine colostrum market. Research is being conducted to evaluate the clinical application of bovine colostrum in various health conditions. Additionally, the ongoing research and development activities related to the therapeutic benefits of bovine colostrum are also propelling the market growth over the forecast period.

 

Bovine Colostrum Market Report Coverage:

Report Attributes Report Details
Study Timeline 2017-2030
Market Size in 2030 USD 243.23 Million
CAGR (2023-2030) 9.1%
By Form Powder and Liquid
By Application Dietary Supplements, Sports Nutrition, Functional Foods, Animal Nutrition, Infant Formula, and Others
By End Use Industry Food & Beverages, Personal care & Cosmetics, Pharmaceutical, Animal Feed, and Others
By Distribution Channel Online (Company Website, and E-commerce Platform) and Offline (Hypermarket/Supermarket, Convenience Store, Specialty Store, Drug Store, and Health & Wellness Store)
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Key Players NOW Foods, Pantheryx, BIOSTRUM NUTRITECH PVT. LTD, Cure Nutraceutical PVT. LTD, AGATI HEALTHCARE PVT LTD, PuraLife LLC, Farbest Brands, Sterling Technology (a subsidiary of Glanbia plc), Colostrum Biotec GmbH, and Deep Blue Health New Zealand

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Market Segmentation :

By Form :

The form segment is categorized into powder and liquid. In 2022, the liquid segment held the highest market share in the market. The extensive deployment of liquid bovine colostrum in various food and medicinal products to provide health benefits to the immune system is driving market growth. In addition, the ability of the bovine colostrum to improve cases of gastronomical inflammation, and respiratory among other diseases is also proliferating the growth of the market. Colostrum BioTec GmbH, headquartered in Europe, specializes in manufacturing liquid bovine 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 the liquid form of bovine colostrum is propelling the market growth.

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 bovine colostrum market.

By Application:

The application segment is categorized into dietary supplements, sport 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, evolving lifestyles and changing trends in eating habits are other influencing factors that propel the growth of the bovine colostrum market.

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, 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 bovine colostrum market.

By End Use Industry:

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

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 demand for bovine colostrum. Moreover, the deployment of bovine colostrum in various skincare and cosmetics products including moisturizers, and skin whitening creams owing to the anti-aging, and anti-inflammatory characteristics is also driving the growth of the market.

Global Bovine Colostrum Market, By End Use, 2022

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By Distribution Channel:

On the basis of 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 bovine colostrum in various forms in the e-commerce platform such as tablets, capsules, and functional foods, among others is propelling the growth bovine colostrum market. Additionally, the presence of an enhanced shopping experience, attractive discounts, and sales is also driving the growth of 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 hypermarket/supermarket, convenience store, specialty store, drug store, and health & wellness store. 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, Middle East and Africa, and Latin America.

 
Asia Pacific Bovine Colostrum Market Size, 2022 (USD Million)

Regional Growth Insights

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In 2022, Asia Pacific accounted for the highest market share at 35.21% and was 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. This is due to the rising government initiatives to address all forms of malnutrition. For instance, Indian Government launched 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 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 growth 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 for bovine colostrum. In addition, the rising concerns regarding health among consumers and government is another significant factor driving the market growth.

Asia Pacific Bovine Colostrum Market, By Countries (2022)

Details Countries Growth Insights

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Bovine Colostrum Market Competitive Landscape:

The bovine colostrum market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-

Recent Developments :

  • In November 2022, APS La Belle, a subsidiary of PanTheryx Inc announced a strategic partnership to conduct clinical research on bovine colostrum and develop new products.
  • In March 2021, PanTheryx Inc, a nutrition and biotechnology company acquired TruBiotics and their trademarks from Bayer HealthCare LLC.
 

Frequently Asked Question

What was the market size of the bovine colostrum industry in 2022?+

In 2022, the market size of bovine colostrum was USD 123.29 million

What will be the potential market valuation for the Bovine Colostrum industry by 2030?+

In 2030, the market size of bovine colostrum will be expected to reach USD 243.23 million.

What are the key factors driving the growth of the bovine colostrum market?+

Growing awareness regarding the benefits of bovine colostrum and increasing demand for functional food are the key factors driving the growth of the bovine colostrum market.

What is the dominating segment in the bovine colostrum market by end use industry?+

In 2022, the food & beverage segment accounted for the highest market share of 53.21% in the overall bovine colostrum market.

Based on current market trends and future predictions, which geographical region will have the fastest impact on the Bovine Colostrum market's growth in the coming years?+

Europe is expected to be the fastest-growing region in the market during the forecast period.