Asia Pacific Bovine Lactoferrin Market Size study, by Product (Freeze-dried, Spray-dried) by Application (Infant Formula, Dietary Supplements, Pharmaceuticals, Food, Others) and Country Forecasts 2022-2032
Asia Pacific Bovine Lactoferrin Market is valued approximately at USD 88.46 million in 2023 and is anticipated to grow with a healthy growth rate of more than 9.16% over the forecast period 2024-2032. Bovine lactoferrin is a glycoprotein found in cow's milk and other mammalian secretions, including human milk. It plays a crucial role in the innate immune system, acting as an antimicrobial agent and an iron-binding protein. Lactoferrin has various biological activities, including antibacterial, antiviral, antifungal, anti-inflammatory, and immunomodulatory properties. Moreover, consumers in the Asia Pacific region have been increasingly seeking functional foods and dietary supplements that offer health benefits which anticipated to create the demand for Bovine Lactoferrin Market. Bovine lactoferrin, known for its immune-boosting and antimicrobial properties, has gained popularity as an ingredient in various functional food and beverage products.
The nutraceutical industry in Asia Pacific is experiencing significant growth, driven by factors such as rising disposable incomes, changing lifestyles, and increasing health consciousness among consumers. Bovine lactoferrin is being increasingly used in nutraceutical products due to its perceived health benefits. Also, Bovine lactoferrin is a key ingredient in infant formula due to its resemblance to human breast milk and its nutritional benefits for infants. With the increasing birth rates and rising demand for infant formula in Asia Pacific countries, the demand for bovine lactoferrin as an ingredient in infant formula is also growing. However, the high cost of lactoferrin added products are expected to hinder the market growth during the forecast period 2024-2032.
The key countries considered for the Asia Pacific Bovine Lactoferrin market study includes China, India, Japan, South Korea, Australia and Rest of Asia Pacific. In 2023, In 2023, China was the largest regional market in terms of revenue. China's health supplement industry has been experiencing significant growth due to factors such as urbanization, increasing disposable incomes, and aging population. Bovine lactoferrin is widely used in various health supplements, contributing to the expansion of the market. Also, Bovine lactoferrin is also utilized in the animal feed industry for its antimicrobial and immunomodulatory properties, which can help improve animal health and productivity. As China's livestock industry continues to grow, there's a rising demand for feed additives such as bovine lactoferrin.
Major market player included in this report are:
Bega Cheese Ltd.
Beston Global Food Company Ltd
Noumi Limited
Company 4
Company 5
Company 6
Company 7
Company 8
Company 9
Company 10
The detailed segments and sub-segment of the market are explained below:
By Product
Freeze-dried
Spray-dried
By Application
Infant Formula
Dietary Supplements
Pharmaceuticals
Food
Others
By Region:
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and country level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market
The nutraceutical industry in Asia Pacific is experiencing significant growth, driven by factors such as rising disposable incomes, changing lifestyles, and increasing health consciousness among consumers. Bovine lactoferrin is being increasingly used in nutraceutical products due to its perceived health benefits. Also, Bovine lactoferrin is a key ingredient in infant formula due to its resemblance to human breast milk and its nutritional benefits for infants. With the increasing birth rates and rising demand for infant formula in Asia Pacific countries, the demand for bovine lactoferrin as an ingredient in infant formula is also growing. However, the high cost of lactoferrin added products are expected to hinder the market growth during the forecast period 2024-2032.
The key countries considered for the Asia Pacific Bovine Lactoferrin market study includes China, India, Japan, South Korea, Australia and Rest of Asia Pacific. In 2023, In 2023, China was the largest regional market in terms of revenue. China's health supplement industry has been experiencing significant growth due to factors such as urbanization, increasing disposable incomes, and aging population. Bovine lactoferrin is widely used in various health supplements, contributing to the expansion of the market. Also, Bovine lactoferrin is also utilized in the animal feed industry for its antimicrobial and immunomodulatory properties, which can help improve animal health and productivity. As China's livestock industry continues to grow, there's a rising demand for feed additives such as bovine lactoferrin.
Major market player included in this report are:
Bega Cheese Ltd.
Beston Global Food Company Ltd
Noumi Limited
Company 4
Company 5
Company 6
Company 7
Company 8
Company 9
Company 10
The detailed segments and sub-segment of the market are explained below:
By Product
Freeze-dried
Spray-dried
By Application
Infant Formula
Dietary Supplements
Pharmaceuticals
Food
Others
By Region:
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and country level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market
CHAPTER 1. ASIA PACIFIC BOVINE LACTOFERRIN MARKET DEFINITION AND RESEARCH ASSUMPTIONS
1.1. Research Objective
1.2. Market Definition
1.3. Research Assumptions
1.3.1. Inclusion & Exclusion
1.3.2. Limitations
1.3.3. Supply Side Analysis
1.3.3.1. Availability
1.3.3.2. Infrastructure
1.3.3.3. Regulatory Environment
1.3.3.4. Market Competition
1.3.3.5. Economic Viability (Consumer’s Perspective)
1.3.4. Demand Side Analysis
1.3.4.1. Regulatory frameworks
1.3.4.2. Technological Advancements
1.3.4.3. Environmental Considerations
1.3.4.4. Consumer Awareness & Acceptance
1.4. Estimation Methodology
1.5. Years Considered for the Study
1.6. Currency Conversion Rates
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Asia Pacific Bovine Lactoferrin Market Size & Forecast (2022- 2032)
2.2. Regional Summary
2.3. Segmental Summary
2.3.1. By Product
2.3.2. By Application
2.4. Key Trends
2.5. Recession Impact
2.6. Analyst Recommendation & Conclusion
CHAPTER 3. ASIA PACIFIC BOVINE LACTOFERRIN MARKET DYNAMICS
3.1. Market Drivers
3.2. Market Challenges
3.3. Market Opportunities
CHAPTER 4. ASIA PACIFIC BOVINE LACTOFERRIN MARKET INDUSTRY ANALYSIS
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economic
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion
CHAPTER 5. ASIA PACIFIC BOVINE LACTOFERRIN MARKET SIZE & FORECASTS BY PRODUCT 2022-2032
5.1. Freeze-dried
5.2. Spray-dried
CHAPTER 6. ASIA PACIFIC BOVINE LACTOFERRIN MARKET SIZE & FORECASTS BY APPLICATION 2022-2032
6.1. Infant Formula
6.2. Dietary Supplements
6.3. Pharmaceuticals
6.4. Food
6.5. Others
CHAPTER 7. ASIA PACIFIC BOVINE LACTOFERRIN MARKET SIZE & FORECASTS BY COUNTRY 2022-2032
7.1. China Bovine Lactoferrin Market
7.1.1. Product breakdown size & forecasts, 2022-2032
7.1.2. Application breakdown size & forecasts, 2022-2032
7.2. India Bovine Lactoferrin Market
7.3. Japan Bovine Lactoferrin Market
7.4. Australia Bovine Lactoferrin Market
7.5. South Korea Bovine Lactoferrin Market
7.6. Rest of Asia Pacific Bovine Lactoferrin Market
CHAPTER 8. COMPETITIVE INTELLIGENCE
8.1. Key Company SWOT Analysis
8.1.1. Company
8.1.2. Company
8.1.3. Company
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Bega Cheese Ltd.
8.3.1.1. Key Information
8.3.1.2. Overview
8.3.1.3. Financial (Subject to Data Availability)
8.3.1.4. Product Summary
8.3.1.5. Market Strategies
8.3.2. Beston Global Food Company Ltd
8.3.3. Noumi Limited
8.3.4. Company
8.3.5. Company
8.3.6. Company
8.3.7. Company
8.3.8. Company
8.3.9. Company
8.3.10. Company
CHAPTER 9. RESEARCH PROCESS
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
1.1. Research Objective
1.2. Market Definition
1.3. Research Assumptions
1.3.1. Inclusion & Exclusion
1.3.2. Limitations
1.3.3. Supply Side Analysis
1.3.3.1. Availability
1.3.3.2. Infrastructure
1.3.3.3. Regulatory Environment
1.3.3.4. Market Competition
1.3.3.5. Economic Viability (Consumer’s Perspective)
1.3.4. Demand Side Analysis
1.3.4.1. Regulatory frameworks
1.3.4.2. Technological Advancements
1.3.4.3. Environmental Considerations
1.3.4.4. Consumer Awareness & Acceptance
1.4. Estimation Methodology
1.5. Years Considered for the Study
1.6. Currency Conversion Rates
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Asia Pacific Bovine Lactoferrin Market Size & Forecast (2022- 2032)
2.2. Regional Summary
2.3. Segmental Summary
2.3.1. By Product
2.3.2. By Application
2.4. Key Trends
2.5. Recession Impact
2.6. Analyst Recommendation & Conclusion
CHAPTER 3. ASIA PACIFIC BOVINE LACTOFERRIN MARKET DYNAMICS
3.1. Market Drivers
3.2. Market Challenges
3.3. Market Opportunities
CHAPTER 4. ASIA PACIFIC BOVINE LACTOFERRIN MARKET INDUSTRY ANALYSIS
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economic
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion
CHAPTER 5. ASIA PACIFIC BOVINE LACTOFERRIN MARKET SIZE & FORECASTS BY PRODUCT 2022-2032
5.1. Freeze-dried
5.2. Spray-dried
CHAPTER 6. ASIA PACIFIC BOVINE LACTOFERRIN MARKET SIZE & FORECASTS BY APPLICATION 2022-2032
6.1. Infant Formula
6.2. Dietary Supplements
6.3. Pharmaceuticals
6.4. Food
6.5. Others
CHAPTER 7. ASIA PACIFIC BOVINE LACTOFERRIN MARKET SIZE & FORECASTS BY COUNTRY 2022-2032
7.1. China Bovine Lactoferrin Market
7.1.1. Product breakdown size & forecasts, 2022-2032
7.1.2. Application breakdown size & forecasts, 2022-2032
7.2. India Bovine Lactoferrin Market
7.3. Japan Bovine Lactoferrin Market
7.4. Australia Bovine Lactoferrin Market
7.5. South Korea Bovine Lactoferrin Market
7.6. Rest of Asia Pacific Bovine Lactoferrin Market
CHAPTER 8. COMPETITIVE INTELLIGENCE
8.1. Key Company SWOT Analysis
8.1.1. Company
8.1.2. Company
8.1.3. Company
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Bega Cheese Ltd.
8.3.1.1. Key Information
8.3.1.2. Overview
8.3.1.3. Financial (Subject to Data Availability)
8.3.1.4. Product Summary
8.3.1.5. Market Strategies
8.3.2. Beston Global Food Company Ltd
8.3.3. Noumi Limited
8.3.4. Company
8.3.5. Company
8.3.6. Company
8.3.7. Company
8.3.8. Company
8.3.9. Company
8.3.10. Company
CHAPTER 9. RESEARCH PROCESS
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
LIST OF TABLESTABLE 1. ASIA PACIFIC BOVINE LACTOFERRIN MARKET, REPORT SCOPE
TABLE 2. Asia Pacific Bovine Lactoferrin market estimates & forecasts by Country 2022-2032 (USD Million)
TABLE 3. Asia Pacific Bovine Lactoferrin market estimates & forecasts by Product 2022-2032 (USD Million)
TABLE 4. Asia Pacific Bovine Lactoferrin market estimates & forecasts by Application 2022-2032 (USD Million)
TABLE 5. Asia Pacific Bovine Lactoferrin market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 6. Asia Pacific Bovine Lactoferrin market by country, estimates & forecasts, 2022-2032 (USD Million)
TABLE 7. Asia Pacific Bovine Lactoferrin market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 8. Asia Pacific Bovine Lactoferrin market by country, estimates & forecasts, 2022-2032 (USD Million)
TABLE 9. Asia Pacific Bovine Lactoferrin market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 10. Asia Pacific Bovine Lactoferrin market by country, estimates & forecasts, 2022-2032 (USD Million)
TABLE 11. Asia Pacific Bovine Lactoferrin market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 12. Asia Pacific Bovine Lactoferrin market by country, estimates & forecasts, 2022-2032 (USD Million)
TABLE 13. Asia Pacific Bovine Lactoferrin market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 14. Asia Pacific Bovine Lactoferrin market by country, estimates & forecasts, 2022-2032 (USD Million)
TABLE 15. China Bovine Lactoferrin market estimates & forecasts, 2022-2032 (USD Million)
TABLE 16. China Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 17. China Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 18. India Bovine Lactoferrin market estimates & forecasts, 2022-2032 (USD Million)
TABLE 19. India Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 20. India Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 21. Japan Bovine Lactoferrin market estimates & forecasts, 2022-2032 (USD Million)
TABLE 22. Japan Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 23. Japan Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 24. Australia Bovine Lactoferrin market estimates & forecasts, 2022-2032 (USD Million)
TABLE 25. Australia Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 26. Australia Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 27. South Korea Bovine Lactoferrin market estimates & forecasts, 2022-2032 (USD Million)
TABLE 28. South Korea Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 29. South Korea Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 30.
TABLE 31. RoAPAC Bovine Lactoferrin market estimates & forecasts, 2022-2032 (USD Million)
TABLE 32. RoAPAC Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 33. RoAPAC Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 34. List of secondary sources, used in the study of Asia Pacific Bovine Lactoferrin Market.
TABLE 35. List of primary sources, used in the study of Asia Pacific Bovine Lactoferrin Market.
TABLE 36. Years considered for the study.
TABLE 37. Exchange rates considered.
TABLE 2. Asia Pacific Bovine Lactoferrin market estimates & forecasts by Country 2022-2032 (USD Million)
TABLE 3. Asia Pacific Bovine Lactoferrin market estimates & forecasts by Product 2022-2032 (USD Million)
TABLE 4. Asia Pacific Bovine Lactoferrin market estimates & forecasts by Application 2022-2032 (USD Million)
TABLE 5. Asia Pacific Bovine Lactoferrin market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 6. Asia Pacific Bovine Lactoferrin market by country, estimates & forecasts, 2022-2032 (USD Million)
TABLE 7. Asia Pacific Bovine Lactoferrin market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 8. Asia Pacific Bovine Lactoferrin market by country, estimates & forecasts, 2022-2032 (USD Million)
TABLE 9. Asia Pacific Bovine Lactoferrin market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 10. Asia Pacific Bovine Lactoferrin market by country, estimates & forecasts, 2022-2032 (USD Million)
TABLE 11. Asia Pacific Bovine Lactoferrin market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 12. Asia Pacific Bovine Lactoferrin market by country, estimates & forecasts, 2022-2032 (USD Million)
TABLE 13. Asia Pacific Bovine Lactoferrin market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 14. Asia Pacific Bovine Lactoferrin market by country, estimates & forecasts, 2022-2032 (USD Million)
TABLE 15. China Bovine Lactoferrin market estimates & forecasts, 2022-2032 (USD Million)
TABLE 16. China Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 17. China Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 18. India Bovine Lactoferrin market estimates & forecasts, 2022-2032 (USD Million)
TABLE 19. India Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 20. India Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 21. Japan Bovine Lactoferrin market estimates & forecasts, 2022-2032 (USD Million)
TABLE 22. Japan Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 23. Japan Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 24. Australia Bovine Lactoferrin market estimates & forecasts, 2022-2032 (USD Million)
TABLE 25. Australia Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 26. Australia Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 27. South Korea Bovine Lactoferrin market estimates & forecasts, 2022-2032 (USD Million)
TABLE 28. South Korea Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 29. South Korea Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 30.
TABLE 31. RoAPAC Bovine Lactoferrin market estimates & forecasts, 2022-2032 (USD Million)
TABLE 32. RoAPAC Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 33. RoAPAC Bovine Lactoferrin market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 34. List of secondary sources, used in the study of Asia Pacific Bovine Lactoferrin Market.
TABLE 35. List of primary sources, used in the study of Asia Pacific Bovine Lactoferrin Market.
TABLE 36. Years considered for the study.
TABLE 37. Exchange rates considered.
LIST OF FIGURES
FIG 1. Asia Pacific Bovine Lactoferrin market, research methodology
FIG 2. Asia Pacific Bovine Lactoferrin market, market estimation techniques
FIG 3. Asia Pacific market size estimates & forecast methods.
FIG 4. Asia Pacific Bovine Lactoferrin market, key trends 2023
FIG 5. Asia Pacific Bovine Lactoferrin market, growth prospects 2022-2032
FIG 6. Asia Pacific Bovine Lactoferrin market, porters 5 force model
FIG 7. Asia Pacific Bovine Lactoferrin market, pestel analysis
FIG 8. Asia Pacific Bovine Lactoferrin market, value chain analysis
FIG 9. Asia Pacific Bovine Lactoferrin market by segment, 2022 & 2032 (USD Million)
FIG 10. Asia Pacific Bovine Lactoferrin market by segment, 2022 & 2032 (USD Million)
FIG 11. Asia Pacific Bovine Lactoferrin market by segment, 2022 & 2032 (USD Million)
FIG 12. Asia Pacific Bovine Lactoferrin market by segment, 2022 & 2032 (USD Million)
FIG 13. Asia Pacific Bovine Lactoferrin market by segment, 2022 & 2032 (USD Million)
FIG 14. Asia Pacific Bovine Lactoferrin market, Country snapshot 2022 & 2032
FIG 15. Asia pacific Bovine Lactoferrin market 2022 & 2032 (USD Million)
FIG 16. Asia Pacific Bovine Lactoferrin market, company market share analysis (2023)
FIG 1. Asia Pacific Bovine Lactoferrin market, research methodology
FIG 2. Asia Pacific Bovine Lactoferrin market, market estimation techniques
FIG 3. Asia Pacific market size estimates & forecast methods.
FIG 4. Asia Pacific Bovine Lactoferrin market, key trends 2023
FIG 5. Asia Pacific Bovine Lactoferrin market, growth prospects 2022-2032
FIG 6. Asia Pacific Bovine Lactoferrin market, porters 5 force model
FIG 7. Asia Pacific Bovine Lactoferrin market, pestel analysis
FIG 8. Asia Pacific Bovine Lactoferrin market, value chain analysis
FIG 9. Asia Pacific Bovine Lactoferrin market by segment, 2022 & 2032 (USD Million)
FIG 10. Asia Pacific Bovine Lactoferrin market by segment, 2022 & 2032 (USD Million)
FIG 11. Asia Pacific Bovine Lactoferrin market by segment, 2022 & 2032 (USD Million)
FIG 12. Asia Pacific Bovine Lactoferrin market by segment, 2022 & 2032 (USD Million)
FIG 13. Asia Pacific Bovine Lactoferrin market by segment, 2022 & 2032 (USD Million)
FIG 14. Asia Pacific Bovine Lactoferrin market, Country snapshot 2022 & 2032
FIG 15. Asia pacific Bovine Lactoferrin market 2022 & 2032 (USD Million)
FIG 16. Asia Pacific Bovine Lactoferrin market, company market share analysis (2023)
