The global milk replacers market is anticipated to grow at a CAGR of 5.69% during the forecast period to reach a market value of US$4,187.049 million by 2024, from US$3,003.311 million in 2018. The growing demand for proper animal nutrition and rising animal population are the key factors that are positively impacting the milk replacers market growth.
Many countries in the world are pushing for better quality produce and overall health of the animals but improper nutrition of animals results in their poor overall health as well as poor quality produce. So, to ensure proper growth and health of animals, milk replacers are increasingly being used. Milk replacers are substitutes for cattle milk or animal milk and are fed to young animals when the animal milk is not available or feasible to feed. Milk replacers are made with four basic components that are protein, fat, lactose and ash and are an essential component of an animal’s daily diet during the early stages. Also, it is called the second feeding stage in a young animal.
Milk replacers are made using a variety of different materials and mimic the properties and nutritional values of animal milk. Milk replacers are generally of two basic types which are medicated and non-medicated milk replacers. Medicated milk replacers are milk replacers that have some amount of antibiotics added to it whereas non-medicated milk replacers have no antibiotics added to it. There are several major ingredients in a milk replacer which are crude protein, crude fat, and vitamins. Crude proteins are necessary for promoting muscle or structure growth. Protein levels typically range from 18%-30%, Crude fat is an essential major energy source for our calves and provides essential fatty acids. Fat levels range from 10-28% and vitamins A, D and E which are necessary for growth and health.
Owing to maintaining health standards and a well-balanced diet, there are some key players with a diverse range of such products. For example, a company MannaPro, headquartered in the US, sells some products such as UniMilk and Collustrum Supplement. UniMilk provides high-quality proteins that are necessary for optimum growth and also helps with good digestion and it is available for some species like calves, goat kids, foals and baby pigs. Similarly, Collustrum Supplement is enriched with vitamins and minerals and provides good gut health to different animals such as calves, foals, baby pigs, llamas, lambs, and alpacas. There are some changes that are being brought about in the use of medical milk replaces which is that medicated milk replacers containing a combination of drug neomycin sulfate (brand name Neomycin) and oxytetracycline (brand name Terramycin) can no longer be used in a 2:1 dosage ratio in milk replacer. A 1:1 concentration now is required. Another company Nutreco NV’s subsidiary Trouw Nutrition International has acquired a 51% share in a turkey company Interekim in 2007 to supply animal milk replacers
Thus, the market is expected to grow at a modest rate owing to the fact the proper nutrition is required by these animals and the burgeoning demand for quality products among the population is set to augment the milk replacers market growth in the upcoming years. This coupled with continued demand for meat is further going to bolster the milk replacers demand. But due to the cattle breeding and dairy market being unorganized a significant portion of the milk replacers market goes unaddressed thus restricting the market.
On the basis of type, the global milk replacers market is segmented as medicated and non-medicated medicated milk replacers are preferred more as they are more effective in dealing with animal health due to the fact that they have antibiotics added to them which ensures no disease is caught by the animals as well as they receive optimum nutrition., so they hold a significant amount of share in the market whereas non-medicated are cost-effective and are given to calves or animals who are healthy.
On the basis of form, the global feed market can be segmented as liquid and powder. The powder-based milk replacers are more easily mixable, have a better shelf life and composition, due to which they are a more widely used form of milk replacers.
By livestock, the global milk replacers market is segmented as calves, piglets, kittens, puppies, foals, and lambs. Calves hold a significant amount of share in the market owing to the fact that most calves are fed with milk replacers than other animals.
By geography, global milk replacers market is segmented as North America, Europe, Middle East & Africa, Asia-Pacific, and South America. Asia-Pacific holds a good amount of share in the market. In this region, China is one of the largest producers along with a good amount of growth in countries like Japan and India. In this region, the most consumed foods are pork and poultry, so the demand for poultry is expected to increase in the countries of this region due to factors such as the increase in population.
The global milk replacers market is competitive owing to the presence of well-diversified international, regional and local players. The competitive landscape details strategies, products, and investments being done by key players in different technologies and companies to boost their market presence.
The global milk replacers market has been segmented by type, livestock, form, source, and geography.