The North America bovine and goat colostrum market was valued at US$529.25 million in 2018 and is projected to reach US$ 761.76 million by 2027; it is expected to grow at a CAGR of 4.3% during the forecast period.
Mammals release colostrum, a whitish fluid, post delivery, which caters to the nutrition requirements of newborn babies. It primarily consists of antibodies that protect them against several diseases. Colostrum milk contains essential bioactive compounds and is one of the natural sources of growth and healing. The medical importance of colostrum has been globally gaining high traction for the treatment of various health diseases, such as chronic fatigue syndrome, cancer, and blood infections. Bovine colostrum is an enriched nutraceutical that is a rich source of vitamins, carbohydrates, minerals, fats, growth hormones, and digestive enzymes that stimulate tissue growth, immune maturation functions, and digestive system development. Also, the demand for organically produced colostrum in countries such as the US and Canada is providing impetus to the growth in the North America bovine and goat colostrum market.
The US accounted for the largest share in the North America bovine and goat colostrum market in 2018. The production and consumption of bovine and goat colostrum in the region are increasing owing to the growing demand for naturally derived products, with the rising disposable income of consumers. The benefits of colostrum have raised its demand among people that are highly conscious about their health and those with weak immune systems. The market growth is also ascribed to the rising awareness about the benefits of colostrum and increasing regulations directed at the dairy industry for the use colostrum as an ingredient. In addition, the region has high standards for animal welfare that are also expected to support the growth of the colostrum market during the forecast period.
Based on form, the bovine and goat colostrum market is segmented into liquid, powder, and tablets and capsules. The powder segment dominated the North American bovine and goat colostrum market, whereas the tablets and capsules segment is expected to register the highest CAGR during 2019–2027. The pharmaceuticals, animal nutrition, dietary supplements, sports nutrition, functional food, cosmetics, and infant formula manufacturers are the prime contributors to the growth of the market for bovine and goat colostrum powder. Moreover, rising popularity of consuming these products for boosting muscle strength and strengthening immunity, especially among bodybuilders, is anticipated to drive the market for the powder segment in the coming years.
A few of the key players in the North America bovine and goat colostrum market are Alphatech, NOW Foods, Swanson, APS BioGroup, Colostrum BioTec GmbH, Manna Pro Products LLC, LAND O’LAKES, INC., Farm-O-San, La Belle,Inc., and Biotaris B.V.
The COVID-19 pandemic has significantly affected the global food & beverages industry. The companies in this industry are facing challenges in the form of considerably reduced consumption and disrupted supply chains. Owing to the adverse effects on the supply of ingredients, food and beverages companies in the US are advised to line up alternate suppliers that satisfy the food safety requirements of the country. Moreover, the lockdown and transport restrictions are limiting the manufacturing, delivery schedules, and sales. All these factors have greatly affected the global bovine and goat colostrum market.
The North America bovine and goat colostrum market size has been derived in accordance with to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America bovine and goat colostrum market.