(I-BusinessNews.Com, January 13, 2018 ) The size of the North American Milk Replacers was around USD 1.08 billion in 2016. Estimated to grow at a CAGR of 6.5% will likely catapult it to reach USD 1.49 billion by 2021. Currently, it captures the second largest market share of 25% globally.
Often used as a substitute a milk replacer feeds the progeny of animals if the mother’s milk is not adequately available.
Commonly adopted technique of precision nutrition, rising consumption of milk globally, technological developments in Milk Replacers and investment/growth opportunities are some of the observable trends in this market. Liquid milk replacers are adequately capturing the rising demand as their digestion is easy, and provide optimum nutrition to progeny.
Key factors propelling this market include the high milk prices, cost-benefits and healthier nutritional aspects of milk replacer products, growing acceptance of precision nutrition techniques, concerns regarding mortality, as well as the increase in nutritional mismatches in the early stages of birth of the livestock offspring.
Hefty input costs of milk replacer proteins along with availability and growing utilization of waste or trans-species milk as a lucrative alternative are the key factors hindering the growth of this market. Limitations on the range of milk replacers available for the development by formulators have come to light due to the stringent regulatory controls imposed by the government on the usage of antibiotics. In addition, feed can’t be manufactured without government sanction.
The North America Milk Replacers market can be categorized into four categories: by type, by livestock, by source and by form. On the basis of type, Milk Replacers market is classified into medicated and non-medicated. Non-medicated accounts for the largest share. It is because of its degenerate prices. On the other hand, medicated is the fastest growing segment. If we go by livestock, Milk Replacers market is segmented into ruminants, swine, and others which include equine and pets. Further, on the basis of source the market can be categorized into milk based, non-milk based and blended. Milk based are the ideal since the digestive system of the progeny is genetically designed to function on milk which maximises nutrition absorption from the milk based replacers. Last but not the least comes the segmentation on the basis of form which comprises powder and liquid. In 2016, powder milk replacers segment was the largest and fastest growing segment because of ease of use, handling, and storage.
By geography, the North America Milk Replacers market has been categorized into US and Canada. It is the second largest market in terms of market share and third largest in terms of CAGR. US is the leading market in the region.
Following are the major players in the market Cargill (U.S.), Archer Daniels Midland Company (U.S.), CHS Inc. (U.S.), Land O’ Lakes (U.S.), and Lactalis Group (France), Glanbia, Plc (Ireland), VanDrie Group (Netherlands), FrieslandCampina (Netherlands), Nutreco N.V. (Netherlands), and Alltech (U.S.).
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