|11-15-2018 07:06 AM CET - Advertising, Media Consulting, Marketing Research||
Liquid Milk Replacers Market worth $243 million by 2023
Press release from: MarketsandMarkets
The report "Liquid Milk Replacers Market by Type (Medicated and Non-Medicated), Livestock (Calves, Piglets, Kittens, Puppies, Foals, Kids & Lambs), and Region (North America, Europe, Asia Pacific and Rest of the World) - Global Forecast to 2023", The liquid milk replacers market is expected to grow from USD 188 million in 2018 to USD 243 million by 2023, at a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period. The major factors driving the liquid milk replacers market include the rising consumption of dairy products and the adoption of precision nutrition techniques.
The medicated type segment is expected to grow at the higher CAGR in the global liquid milk replacers market during the forecast period.
The liquid milk replacers market, by type, is estimated to be dominated by the non-medicated segment in 2018. This is attributed to the fact that infant livestock are being fed with milk replacers for the first 6-8 weeks of their birth. Non-medicated liquid milk replacers are fed to livestock infants for the first 1-2 weeks of their birth to protect them from diseases or certain deficiencies. In addition, these milk replacers are low in cost, as compared to medicated liquid milk replacers. This is one of the driving factors for the non-medicated milk replacers segment in developing countries such as Brazil, India, and China, where livestock bearers are price sensitive. Further, the dairy farming industry in these countries is becoming increasingly organized with the growing investments.
The calves segment, by livestock, is projected to occupy the majority of the market share and grow at the fastest rate during the forecast period.
The calves segment is projected to be the fastest-growing segment, by livestock, during the forecast period. Proper management of calves is a prerequisite to the success of a dairy farm. Raising healthy calves is one of the major aspects of livestock management, in general, given their use in dairy and meat production. The optimal level of nutrition in the early life of animals facilitates their faster growth and early maturity. Infant calves should be carefully reared so that they attain about 70%-75% of mature body weight at puberty. Poor feeding could lead to a higher age of calves at first calving and an overall reduction in their life spans.
Europe is projected to account for the largest market size in the liquid milk replacers market during the forecast period.
Europe is estimated to account for the largest share of the market in 2018. The consumption of liquid milk replacers in this region is majorly driven by the rising demand for milk and milk products among consumers. According to the Joint Research Center of European Commission, about 12.4% of the entire milk production in the region is used for general consumption; with 36.1% being used for cheese production, 28.7% being used for butter, and 11.5% for cream. This leaves about 20% of the produced milk available for young livestock consumption, providing a huge market opportunity for milk replacers. Milk replacers also form an important dietary input for livestock fattening purposes, wherein they constitute the major feed products and account for a majority of the feed cost for young livestock meant for slaughter. Milk replacers are majorly produced in countries such as France, Germany, Italy, the Netherlands, and Belgium; and are traded throughout the region.
Major vendors in the liquid milk replacers market include Liprovit, BV (Netherlands), Calva products LLC (US), PETAG Inc. (US), Cargill (US), Archer Daniels Midland Company (ADM) (US), CHS Inc. (US), Land O’Lakes Inc. (US), Glanbia Plc (Ireland), Nutreco N.V. (Netherlands), and Lactalis Group (France).
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This release was published on openPR.
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