An Insightful Overview of Milk Replacers Market
People who are responsible for raising calves on the farm have goals such as keeping the offspring in good health and analyzing their progress to meet the target objectives. There are several milk replacers available in the market, which vary in terms of protein content, fat content, and sources. Different sources of expensive proteins are also incorporated into the milk replacers.
The benefits of milk replacers include the calf’s healthy growth. Due to the increase in the demand for calves, the milk replacers market is brimming with huge profits. When appropriately fed, the high-quality milk replacers allow the calf growth greater than that attainable with whole milk. Based on the type of ingredients, manufacturing technology, and the nutritional quality the cost of the milk replacers varies significantly.
A Pragmatic Analysis of Milk Replacers Market: The Growth and Outlook
The global milk replacers market is estimated to grow at a CAGR of 7.6% with the market share of milk replacers projected to reach USD 3.48 billion by the end of 2021. There are two types of milk replacers – medicated and non-medicated milk replacers. In this category, non-medicated replacers occupy the largest share of the global milk replacers market.
The surge in demand for non-medicated milk replacers can be attributed to various factors such as lower costs and ease of availability of the raw materials. Owing to the cost-consciousness of livestock bearers, the demand for milk-replacers in developing countries such as Brazil, India, and China is increasing. The increase in the dairy farming industry is also likely to enhance the growth of the global milk replacers market.
Out of the three sources of milk replacers – milk-based, non-milk-based, and blended, the milk-based replacers are considered ideal, as the digestive system of the offspring is adapted to function on milk. By utilizing them, it would be helpful to absorb maximum nutrition from the milk-based replacers. The usage of these replacers is high in the developed countries due to high awareness among the livestock farmers regarding their benefits.
The livestock industry usually consists of ruminants, swine, and others (both equines and pets). In this segment, ruminants stand out as the fastest growing market during the forecast period. Raising healthy calves has been one of the major driving factors for the livestock industry and especially the ruminant segment, because of their application in dairy and meat production. The increase in the demand for milk replacers for the livestock industry has also been attributed to the upsurge in the commercialization of dairy farms and the need for milk among the consumers.
The global milk replacers market consist of products that are available in both powdered and liquid forms. The milk replacers in the powdered form have the highest share in the global milk replacers market. It is also emerging as the fastest growing product over the coming decades. Unlike the liquid milk replacers, the powdered milk replacer is cost-effective, thereby driving the growth of the global milk replacers market.
Geographically, Europe has the largest market in the world. The focus of European Commission on reducing the costs and improving animal health has driven the growth of the market. Increase in the utilization of scientific methods in the livestock industry due to modernization is also fuelling the demand for milk replacers in this region. North America holds the second position in the global milk replacers market whereas Asia Pacific stands in the third position with China, India, and South Korea as the dominant countries in this regional market.
Extensive R&D investment to drive sustainable development, increasing awareness regarding the product potential, adoption of precision nutrition techniques and increasing milk consumption are the primary driving factors for the growth of global milk replacers market. The high costs of milk replacer proteins and the use of waste or trans-species milk as an alternative is restricting the market growth of global milk replacers market.
The companies playing a key role in the global milk replacers market are Cargill, Alltech, Archer Daniels Midland Company, Land O’Lakes, CHS Inc from US, Lactalis Group (France), Glanbia, Plc (Ireland), VanDrie Group, FrieslandCampina, Nutreco N.V. from Netherlands, Nukabel B.V, Bewital Agri GmbH & Company Kg etc.
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