The milk replacers market is projected to grow at a CAGR of 7.59% from 2017 to 2022, to reach a projected value of USD 3.54 billion by 2022. The market is driven by factors such as rise in milk prices, increase in awareness of cost-benefit and nutritional aspects of milk replacer products, adoption of precision nutrition techniques, concerns regarding mortality and health-related aspects, and rise in nutritional mismatches in the initial birth stage of livestock offspring.
The medicated milk replacers segment is projected to be the fastest-growing during the forecast period. The major growth driver is the increase in awareness regarding the benefits of medicated milk replacers.
The milk-based replacers segment was the largest in 2016 and is projected to be the fastest-growing during the forecast period, due to the nutritional benefit of the milk-based proteins, as against the non milk-based replacers. The powdered form of milk replacers is higher in demand as compared to the liquid form, due to its ease of procurement and handling. This trend is expected to continue during the forecast period.
To know about the assumptions considered for the study, download PDF brochure
The ruminants segment was the largest market in 2016 and is projected to be the fastest-growing in the milk replacers market from 2017 to 2022. The demand for milk replacers is projected to grow effectively in the ruminant sector as ruminant milk has commercial use, in terms of direct human consumption. The demand for milk replacers is also growing in the pet segment due to the increase in trend of pet keeping, resulting in early separation of the offspring from mother. This resulted in increased demand for the milk replacers, owing to its convenience of use and nutritional ability over the whole milk provided for feeding.
The Asia-Pacific region is projected to be the fastest-growing in the milk replacers market between 2017 and 2022. The growth of this market in the developing regions is fueled by the increase in demand for livestock products, rise in population of livestock, and growth in commercial rearing of livestock and dairy farming. The key players focus on expanding their businesses in the region through organic and inorganic growth.
The inclusion of antibiotics remains a matter of concern and is one of the major challenges faced by the milk replacers market. Antibiotics are added to some milk replacer products, mainly because producers usually rear their own livestock on-farm, and new diseases can be introduced through bought-in animals. Regular use of antibiotics increases the risk of cull calves being sold for slaughter with detectable levels of antibiotic residues in their carcasses. The EU banned the use of antibiotics in 2006; however, in the U.S., antibiotics are commonly added to milk replacers in an attempt to protect calves from infection.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Key players such as include Cargill (US), Archer Daniel Midland (US), CHS Inc. (US), Land O’Lakes Inc. (US), and Glanbia Plc (Ireland) have a strong presence in the Americas, followed by the Asia-Pacific region. These companies are focusing on strategizing their growth plans to expand their operations in the milk replacers market.