Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Colostrum Market 2017-2027
Colostrum is the first milk produced by humans, cows, and other mammals that have given birth. It is highly nutritious and contains antibodies, which are essential to fight against infections and promote healthy growth in infants and newborn animals. Colostrum also stimulates immunity and improve gut health as they are a rich source of protein. Colostrum is also used to make supplements which are known as bovine colostrum it is rich in vitamins, fats, minerals, disease-fighting proteins, carbohydrates, growth hormones, and digestive enzymes. Bovine colostrum is highly nutritious and contains more nutrients as compared to regular milk.
The global colostrum market is projected to reach around US$ 2.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 4% during the forecast period (2019-2027).
The growing use of bovine colostrum by athletes which reduces the upper respiratory tract and the intestinal damage is accelerating the market growth. Moreover, colostrum enhances the overall athlete's immune system and is gaining an important dietary supplement among athletes. Hence, increasing consumption of bovine colostrum by athletes is projected to foster the market growth of colostrum over the forecast period.
The advantage of bovine colostrum such as anti-aging benefits that helps to reduces wrinkles on the face is expected to augment the market growth of colostrum. The growth hormone present in colostrum promotes the cell regeneration when regularly as these hormones promote cell growth in the skin, which ultimately enhances elasticity and thickness of the skin. Hence, anti-aging benefits associated with the bovine colostrum is expected to augment the market growth of colostrum over the forecast timeframe.
On basis of the region, Asia Pacific dominated the global colostrum market in 2018, accounting for 40.5% share in terms of value, followed by North America and Europe.
Figure 1. Global Colostrum Market, Revenue Share (%), By Country, 2018
Lack of awareness regarding the benefits of colostrum products is expected to hinder the market growth of colostrum. Moreover, there are very few associations associated with this industry such as the European Colostrum Industry, to spread awareness among consumers to overcome their misconceptions regarding colostrum products. This factor is hampering market growth.
Intense competition in the market due to the presence of a large number of manufacturers is projected to restrict the market growth of colostrum. Due to intense competition there remain a barrier for a new player to enter into the market and gain potential opportunity. This factor is expected to hinder the market growth.
Growing demand for probiotic colostrum products around the globe is expected to offer numerous growth opportunities to the market of colostrum. There has been significant growth in the consumption of probiotics such as lactobacillus acidophilus among consumers owing to its various health benefits such as improving the health of the gut. Hence, the rising demand for probiotic colostrum products is projected to fuel the market growth of colostrum.
Growing demand for yoghurt in colostrum products due to the presence of beneficial bacteria such as bifid bacterium is expected to propel the market growth of colostrum. All the bacteria promote the growth of good bacteria in the human body and enhances lactose digestion and eradicate symptoms of lactose intolerance. Various manufacturers are introducing yogurt-based colostrum products for lactose intolerance consumers and this will favor the market growth over the forecast period.
Figure 2. Global Colostrum Market– Opportunity Analysis
The rising trend of adopting smart strategies such as partnerships among major players is projected to accelerate the market growth of Colostrum. For instance, in July 2018, Parag Milk Foods (PMFL) announced that it is collaborating with Swedish research organization ColoPlus AB to launch a colostrum-based nutrition product in India. ColoPlus AB is a research and development company that develops colostrum-based therapeutic food.
The growing trend of using colostrum as a nutraceutical for animal application as it provides protection from a wide range of infections caused by bacteria and viruses which is projected to augment the market growth. The colostral immunoglobulins destroy the pathogens and protect the animals from attracting infections. Therefore, the rising demand for colostrum-based animal feeds is projected to propel the growth of the market.
Figure 3. Global Colostrum Market, Revenue Share (%), By Application, in 2018
On the basis of application, in 2018, the infant food has accounted the largest market share of 41.3% in terms of value, followed by the animal feed and functional food & nutritional supplements.
Key players operating in global colostrum market are APS Biogroup, Biostrum Nutritech Pvt. Ltd., La Belle, Inc., Sterling Technology, Good Health NZ Products Ltd., The Saskatoon Colostrum Co.Ltd., NIG Nutritionals Limited, Ingredia Nutritional, Cuprem Inc, and Biotaris B.V.