Global Liquid Milk Replacers Market to 2023 - Rising Consumption of Dairy Products and the Adoption of Precision Techniques are the Key Factors Driving Market Growth
DUBLIN, Nov. 7, 2018 /PRNewswire/ --
The "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" report has been added to ResearchAndMarkets.com's offering.
The market for liquid milk replacers 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 rising consumption of dairy products and the adoption of precision techniques are the key factors driving the growth of this market.
By type, the medicated segment is expected to be the faster-growing in the liquid milk replacers market during the forecast period.
The medicated segment is projected to grow at the higher CAGR between 2018 and 2023. Medicated liquid milk replacers provide various health benefits and improve the performance of infant livestock. These milk replacers are mainly fed to infant livestock that has physical and nutritional deficiencies, weaknesses, or diseases; and requires an enhanced nutritional diet. This has led livestock rearers to use medicated liquid milk replacers.
By livestock, the calves segment is growing at the fastest rate during the forecast period.
The calves segment, by livestock, is projected to be the fastest-growing store type in the liquid milk replacers market. Calves are born with only the abomasum, i.e., the fourth stomach functioning; and their digestion is only dependent on the enzymes existing in the abomasum. For this reason, infant animals are fed with high-quality milk replacers, as they fulfill their nutritional needs and boost their immunity toward diseases. Liquid milk replacers for calves are nutritious concentrate mixes and contain nutrients such as protein, fats, vitamins, and minerals in the optimum required ratio to ensure optimal growth.
Europe is expected to account for the largest market share during the forecast period.
Europe is the major revenue-generating region in the global liquid milk replacers market. The consumption of liquid milk replacers in the region is further driven by the growing focus of the European Commission on health and nutrition of animals during their early growth stages.
The European legislation dictates that all calves are required to have access to their mothers for a minimum of two weeks after their birth, for colostrum consumption. To be able to substitute this colostrum successfully, they are then transferred to specialized calf rearing farms, where they are provided with milk replacers that successfully help mimic cow's milk. The usage of different liquid milk replacers extensively depends on factors such as cost-effectiveness, ingredient availability, and different feed regulations prevalent in the country. These factors are expected to impact the market growth for liquid milk replacers in Europe.
Recent Developments:
- In January 2017, Sprayfo altered the composition of its products in the above product range to reduce the usage of chemicals to a minimum level.
- In April 2016, Trouw Nutrition, a subsidiary of Nutreco, opened a new Calf & Beef Research Facility close to Boxmeer (Netherlands) to meet the demand for milk replacers in animal nutrition applications.
- In January 2016, Trouw Nutrition, a subsidiary of Nutreco, acquired Micronutrients (US) to strengthen its product portfolio for powder milk replacers division.
- In January 2016, Cargill opened a new animal nutrition technology application center in Izmir, Turkey. This center demonstrates the performance of Provimi's calf milk replacers in the local environment to its customers.
Key questions addressed by the report:
- Who are the major market players in liquid milk replacers?
- What are the regional growth trends and the largest revenue-generating region for liquid milk replacers?
- Why are milk replacers necessary for infant livestock?
- What are the major types of liquid milk replacers fed to infant livestock?
Companies Mentioned
- Archer Daniels Midland Company
- CHS Inc.
- Calva Products, LLC
- Cargill
- Glanbia, PLC
- Lactalis Group
- Land O'lakes Inc.
- Liprovit BV
- Nutreco N.V.
- Petag Inc.
For more information about this report visit https://www.researchandmarkets.com/research/2wwzvk/global_liquid?w=5
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SOURCE Research and Markets
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