Lactoferrin Market Worth $411.8 Million By 2028 | CAGR: 8.2%
Lactoferrin Industry Overview The global lactoferrin market size was valued at USD 219.2 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.2% from 2021 to 2028. The rising awareness amongst consumers regarding health and diet, along with the rising prevalence of skin-related health conditions, is expected to boost the demand. Lactoferrin is believed to have antiviral, antibacterial, antiparasitic, catalytic, and anti-allergic functions and properties, which is anticipated to drive the product demand from the pharmaceutical and personal care industries. According to the American Academy of Dermatology, acne is the most prevalent skin condition in the U.S., affecting over 40 to 50 million people in the country every year. The acne treatment market is also subsequently expected to witness strong growth during the forecast period. Various clinical trials have proven the ability of lactoferrin to effectively treat acne and other such skin conditi...