Animal Milk Replacer Market is Estimated to Reach $6.5 Billion by 2030, In-depth Analysis of Industry Players

According to a new report published by Allied Market Research, titled, "Animal Milk Replacer Market by Type, Animal Type, Form, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030.

The global animal milk replacer market was valued at $4.1 billion in 2020, and is estimated to reach $6.5 billion by 2030, growing at a CAGR of 4.9% from 2021 to 2030. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape.

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The bovine feed industry is rapidly expanding as milk producers begin to replace traditional cattle and domestic animal feed with nutritionally balanced compound feed and milk replacers, realizing the practical benefits of nutritional feed in terms of yield enhancement. Cattle output in the Asia-Pacific area has grown faster than any other agricultural sub-sector, owing mostly to rapid expansion of the pig, calf, and livestock sectors. The livestock business is the single most important component of agricultural growth. Livestock products account for almost 40% of the overall agricultural output in worldwide markets.

Consumption of animal byproducts has grown as a result of animal population expansion and rise in spending power of the people. This is projected to drive the animal milk replacer business forward. Agriculture's industrialization significantly altered food production methods around the world. The commercial animal sector is quickly industrializing, particularly in developing or emerging nations, where the majority of the rise in milk and meat output is expected. This aspect is predicted to propel the animal milk replacer industry in the future years. In the past, livestock agriculture and cow/calf feed production faced several changes and obstacles.

Milk replacer is available in several formats such as dairy based milk replacer, plant based replacer, and others. Generally, it is produced from bovine milk and has less protein, calories, fat, calcium, phosphorus, and carbs than whole milk.Lactose levels in pure bovine milk are greater than in canine or feline milk, which can induce diarrhea in pups and kittens, if fed directly. Milk replacer is less costly than complete cow's milk, resulting in better animal milk replacer market growth rates.

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On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (France, Germany, Italy, Spain, the UK, Russia, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, and Rest of LAMEA).

The players operating in the global animal milk replacer market have adopted various developmental strategies to expand their animal milk replacer market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Alltech, Beaphar, Cargill, Inc., FrieslandCampina N.V., Glanbia Plc, and Hubbard Feeds Inc., Lactalis, Koninklijke DSM N.V., Liprovit B.V., Manna Pro Products, LLC, and Nutreco.

Key Findings of the Study:

• On the basis of type, the plant-based segment is projected to witness the highest CAGR of 6.0%, in revenue terms, during the forecast period.
• On the basis of animal type, the calf segment is expected to dominate the market from 2021 to 2030.
• On the basis of form, the solid segment is projected to witness the highest CAGR, in revenue terms, during the forecast period.
• On the basis of distribution channels, the hypermarkets/supermarkets segment is expected to grow at a significant CAGR during the forecast period.
• On the basis of region, Asia-Pacific was the largest country, in terms of revenue generation for the animal milk replacer market in 2020.
• On the basis of region, Asia-Pacific is anticipated to witness the highest growth rate, registering a CAGR of 6.0% from 2021 to 2030.

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