Bovine Colostrum Market Set to Value at US$ 243.23 Million By 2030, Insights By Consegic Business Intelligence

New York, June 06, 2023 (GLOBE NEWSWIRE) -- According to a recent report by Consegic Business Intelligence, the bovine colostrum market is poised for strong expansion and is expected to reach USD 243.23 Million by 2030. The market, which was valued at USD 123.29 Million in 2022, is predicted to grow at a compound annual growth rate of 9.1% during the period 2023-2030. The report highlights the increasing adoption of bovine colostrum in the pharmaceutical industry as a dietary supplement. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the bovine colostrum market. Request Sample Now

Bovine colostrum is the milk produced by mammals during the first few days after birth that contains various biomolecules such as protein, vitamins, minerals, and growth factors, among others. Colostrum is considered therapeutic for a wide range of gastrointestinal and immunogenic diseases that is deployed as an additive in food & beverage products such as bakery goods, shakes, and smoothies. Additionally, in the pharmaceutical industry, milky fluid is employed in dietary supplements to protect against bacteria and pathogens.

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The global bovine colostrum market is driven by the increasing application in the food & beverage industry as an additive to increase the nutritional value of food products. In addition, the rising pharmaceutical industry, due to the increasing prevalence of the diseases is also proliferating the growth of the bovine colostrum market. Therefore, the increasing demand for functional food and dietary supplements owing to rising consumer health awareness among consumers is proliferating the market growth.

urther, the market is expected to grow in the coming years, driven by the increasing demand for bovine colostrum due to the wide range of applications from the animal feed industry. In addition, the growing shift towards natural and organic substances is also anticipated to offer lucrative opportunities to the key market players operating in the bovine colostrum market.

Global Bovine Colostrum Market Segmentation Details:

Based on form, the powder segment is expected to register the fastest CAGR over the forecast period in 2022. In the food & beverage industry, the powder form of bovine colostrum is deployed as an additive in various food products including bakery goods and smoothies. Additionally, the wide scope of application of bovine colostrum in sports nutrition due to the presence of high protein formulations such as elevating protein and IgG is expected to drive the market over the forecast period.

Based on Application, the functional food segment held the largest share of the market. The utilization of functional food by various end users including clinical nutrition, sport nutrition, and weight management is propelling the demand for bovine colostrum. The increasing inclination of consumers towards food containing functional ingredients including bovine colostrum owing to the rising health awareness is another influencing factor for the segment growth.

Based on End Use Industry, the food & beverages segment held the largest market share in the bovine colostrum market. The wide scope of applications including functional food, infant formula, and sport nutrition is accelerating the growth of the bovine colostrum market. For instance as per the article published by the Institute of Food Technologists, sales of sports drinks reached USD 9.5 billion. Therefore, the increasing commercialization of sports nutrients enriched with various elements such as protein and vitamins is driving the demand for bovine colostrum in the food & beverages industry.

Based on Distribution Channel, in 2022, the online segment accounted for the highest share in the bovine colostrum market due to increased smartphone and internet penetration. The recent rise in digitalization has led to an influx of investment in e-commerce which is creating a base for new market players. For instance, according to the India Brand Equity Foundation, the E-commerce market is projected to reach USD 111 billion by 2024. Hence, the presence of large quantity products that could enhance the shopping experience is contributing to the market growth.

Based on Region, in 2022, Europe is expected to register the fastest CAGR in the market over the forecast period. The shifting consumer taste toward natural and organic additives including bovine colostrum is anticipated to proliferate the market growth in the region. In addition, bovine colostrum is widely deployed in the pharmaceutical industry as a dietary supplement in the form of capsules and tablets. Hence, the well-established pharmaceutical industry in the region is anticipated to contribute to the growth of the market.

Global Bovine Colostrum Market: Report Attributes

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Key Market Takeaways

• Asia Pacific held the largest market share of the bovine colostrum due to the shifting consumer taste towards natural and organic ingredients.
• Based on form, the liquid segment accounted for the highest market share in the bovine colostrum market in 2022.
• Based on application, the dietary supplement segment is expected to witness the fastest CAGR over the forecast period.
• By end use industry, the food & beverage segment accounted for the highest market share in the bovine colostrum market.
• By distribution channel, the online segment accounted for the largest market share in the bovine colostrum market in 2022.

Competitive Landscape

According to research, NOW Foods, Pantheryx, BIOSTRUM NUTRITECH PVT. LTD, and Cure Nutraceutical PVT. LTD are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies such as the development of efficient, cost-effective, and organic bovine colostrum as compared to other ingredients. Further, the bovine colostrum market is expected to grow steadily due to rising demand from the food & beverage industry, especially in the Asia Pacific, North America, and Europe regions are estimated to boost the market statistics in the coming years. Additionally, the trend towards increasing adoption of bovine colostrum in the pharmaceutical industry is also estimated to drive demand for such starch ethers which is anticipated to increase the competition in the market.

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Recent Developments

• In November 2022, APS La Belle that is a subsidiary of PanTheryx Inc announced a partnership in order to conduct clinical research on bovine colostrum for the development of new products. Through this partnership, APS announced the introduction of Immunoglobulin G formula and Colostrum Basic Protein.
• In March 2021, PanTheryx Inc, acquired TruBiotics that is a probiotic supplement brand.

List of Major Global Bovine Colostrum Market:

• NOW Foods
• Pantheryx
• BIOSTRUM NUTRITECH PVT. LTD
• Cure Nutraceutical PVT. LTD
• AGATI HEALTHCARE PVT LTD
• PuraLife LLC
• Farbest Brands
• Sterling Technology (subsidiary of Glanbia plc)
• Colostrum Biotec GmbH
• Deep Blue Health New Zealand

Global Bovine Colostrum Segmentation: 

• By Form
  • Powder
  • Liquid
• By Application
  • Dietary Supplements
  • Sport Nutrition
  • Functional Foods
  • Animal Nutrition
  • Infant Formula
  • Others
• By End Use Industry
  • Food & Beverages
  • Personal care & Cosmetics
  • Pharmaceutical
  • Animal Feed
  • Others 
• By Distribution Channel
  • Online
    • Company Website
    • E-commerce Platform
  • Offline
    • Hypermarket/Supermarket
    • Convenience Store
    • Specialty Store
    • Drug Store
    • Health & Wellness Store

Frequently Asked Questions in the Bovine Colostrum Market Report

• 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 is expected to reach USD 243.23 million.
• What are the key restraints of the bovine colostrum market?
  • Increasing concerns regarding potential contaminants are likely to serve as the key restraint of the 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.

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