Key players in the market are now boosting production capacity in anticipation of the growth, Future Market Insights said in its report.
The market was worth €1.1bn ($1.3bn) in 2015 and is expected to rise to almost €1.2bn ($1.4bn) by the end of 2016.
“Increasing health awareness among consumers coupled with increasing demand for colostrum-based infant formula and probiotic yogurt are key factors fuelling market growth across the globe,” the team said.
A rise in “Consumer inclination towards purchasing organic colostrum products through e-retail channels is a major trend witnessed in the global colostrum market,” they added.
The biggest companies in the global colostrum market are APS BioGroup, La Belle, Ingredia Nutritional, The Saskatoon Colostrum Co., Biostrum Nutritech, Biotaris B.V., NIG Nutritionals, Good Health NZ, Sterling Technology and Cuprem, according to the report.
“Leading companies are focusing on expanding their production capacity and launching new product offerings in a bid to increase market share, expand customer base and achieve a competitive edge,” the analysts said.
The biggest growth regions include North America and Asia-Pacific, with Asia (excluding Japan) remaining the biggest buyers throughout the decade with an expected €737m ($834m) of the market share by 2026.
However, despite expected increase in sales figures, a slightly lower compound annual growth rate (CAGR) anticipated for the volume of colostrum sold than the monetary value suggests only a moderate price increase over the 2016 – 2026 report period.
“The global colostrum market is anticipated to register a CAGR of over 3.6% in terms of value and 3.2% in terms of volume during the forecast period,” the analysts said.
Whole colostrum powder is expected to be the biggest money-maker, accounting for €570m ($645m) of the almost €1.2bn ($1.4bn) market by the end of 2016.
This is due to an expected 2.3% increase in whole colostrum powder volumes sold between 2015 to 2016, which should exceed 6,508 tonnes by the end of the year, the analysts said.
One big driver for growth is an increase in prescriptions of branded infant food products containing colostrum, with sales in the sector predicted to rise at a steady 3.7% compound annual growth rate (CAGR). Volume is expected to grow by 3.5% CAGR between 2016 and 2026.
“In terms of value, infant food segment was the largest segment in the market and it is expected to retain its dominance over the forecast period,” the team said.
Many researchers continue to look into the benefits and mechanisms behind the various types of colostrum in breast milk and benefits for babies.
Probiotic use is another, the analysts said, adding: “Increasing demand for probiotic colostrum-based products is anticipated to fuel growth of the global colostrum market in the near future.”
The bacteria in probiotic supplements need colostrum to thrive in the gastrointestinal system, the Center for Nutritional Research states.
The animal feed segment is also a big driver, with predictions it will grow at the higher CAGR in terms of value over the decade.
Colostrum is a form of milk produced by mammals in late pregnancies and a few days after giving birth and is a major source of immunoglobin.
It is used for newborn infants since it contains high amounts of antibodies to strengthen immunity, and is useful for improving immune system for humans in general as a good source of immunoglobin, the team wrote.
“Cow colostrum contains higher levels of immunoglobulin such as IgG, IgA and IgM, where the amount of IgG is higher than others,” they added.