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.

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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.

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.