The global bovine colostrum market was valued at US$ 2.75 billion in 2020 and is estimated to reach US$ 4.45 billion by 2028, registering a CAGR of 6.1% from 2021 to 2028.
Bovine colostrum is a milk-based fluid that comes from the cow's breasts for a few days after the cow gives birth to its child. The process is temporary and therefore, the milk is bound to be consumed within a few days. Bovine colostrum comprises proteins, fats, carbohydrates, and minerals with a variety of antibodies that prevents viruses and bacteria in the body. Bovine Colostrum finds a lot of end-uses and occupies a large market among athletes to build muscles, burn fat, enhance stamina and agility. It helps to attain a considerable improvement in overall performance, as the anti-bodies properties in bovine milk are greater and healthier than the regular milk. The major companies in the market are investing a considerable sum of capital into research and development, innovation, and enhancing the quality of milk-based products. The governments worldwide have started various research and development programs and are collaborating with the local and major companies in contemporary times to enhance and improve the quality of the product.
The incidence of bacterial and viral diseases has increased in domesticated animals owing to an increase in insects, thus driving the demand for supplements like colostrum which helps in the growth of immunity. Moreover, analyzing restraining factors of bolivian colostrum market, lack of awareness among the population is one of the major reasons for the population preventing the source of acquiring this nutritional food. Also, the population from developed countries owing to traditional beliefs prevent themselves from colostrum intake which also acts as a restraint to the market. However, the multiple benefits associated with the consumption of bovine colostrum would slow down the impact of the above mentioned restraints in the coming years.
The global bovine colostrum market is segmented into by type, application, distribution channel and geography. By type the market is further segmented into Liquid, Capsules, Tablets and Others. The application segment includes Nutritional Supplements, Pharmaceuticals, Sports Nutrition, Animal Nutrition, Cosmetics and Others. By type, tablet and powder form holds the major share in the global bovine colostrum market. Pharmaceuticals and sports nutrition companies are also expected to register high market growths, as the bovine colostrum is registering a substantial demand among athletes and fitness enthusiasts. The web market is also a very exciting segment as it provides an opportunity for manufacturers to connect directly with consumers. In contemporary times, there are a lot of companies that are selling their products through e-commerce websites.
The global bovine colostrums market is segmented into North America, Europe APAC, and RoW. North America is further bifurcated into the U.S, Canada, and Mexico. Europe includes the U.K, Germany, Italy, France, Spain, and others. APAC is fragmented into China, India, Japan, Australia, South Korea, and the Rest of APAC. The market of the rest of the world is segmented into South and Central America, The Middle East, and Africa. With the increase in hypertension in the population of the U.S.A in North America is dominating the colostrums market generating majority of the revenue in 2019. Asia-Pacific, however, is projected to be the fastest-growing region during the forecast period 2021-2028. This is owing to the rise in expansions to these regions by major players and the rise of new players here.
KEY PLAYERS OF BOVINE COLOSTRUM MARKET
Some of the major players in the global bovine colostrum market are NOW Health Group, Inc., APS Bio group, Genceutic Naturals, BiostrumNutritechPvt. Ltd., Sovereign Laboratories, Cure Nutraceutical PVT. LTD., Biodane Pharma A/S, Agati Healthcare Pvt Ltd, PuraLife, LLC., Bionatin B. V., MIP Colostrum NZ, Jarrow Formulas Inc., and BIN Science LLC, among others. Companies associated with bovine colostrum market are expecting a high growth considering the favoring factors.
SEGMENTATION OF GLOBAL BOVINE COLOSTRUM MARKET
BY DISTRIBUTION CHANNEL