Milk Replacers Global Market Report 2024

The milk replacers market has grown strongly in recent years. It will grow from $3.87 billion in 2023 to $4.24 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. During the historical period, the expansion can be attributed to several factors, notably the escalation in milk prices, heightened productivity within the livestock sector, proactive disease prevention measures, amplified demand for animal-based protein, challenges stemming from droughts and feed shortages, as well as advancements in livestock health management practices.

The milk replacers market is expected to see strong growth in the next few years. It will grow to $6.03 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The anticipated growth in the upcoming forecast period is poised to stem from several key factors. Paramount among these are the burgeoning concerns surrounding sustainability and the environment, coupled with governmental initiatives and regulations. Additionally, advancements in nutritional science, particularly innovations therein, are set to play a pivotal role. Furthermore, the utilization of milk replacers in non-traditional livestock species and an intensified focus on ensuring animal welfare are anticipated to contribute significantly to this growth trajectory.

Anticipated expansion in dairy product consumption is poised to drive the milk replacer market's growth. The term "dairy products" encompasses items derived from milk such as cheese, butter, yogurt, and condensed or dried milk. Factors such as burgeoning population, evolving dietary preferences, and increased awareness of dairy's health benefits steer consumers toward these products. To meet the rising demand, milk replacers serve as viable alternatives to milk, stimulating market growth. For example, in September 2021, the U.S. Department of Agriculture reported a notable increase in average American dairy consumption, rising from 652 to 655 pounds per individual from 2019 to 2020, reflecting a shift in consumption patterns and a surge in demand driving the milk replacer market.

The burgeoning preference for clean-label goods is set to propel the milk replacer market. Clean-label products feature straightforward, recognizable ingredients, aligning with consumer preferences for transparency and wholesomeness. Milk replacers often streamline ingredient lists, catering to consumers seeking simplicity and familiarity in their products. Notably, a September 2023 survey conducted by FONA International Inc. revealed that 83% of respondents favored clean or natural ingredients, with 68% willing to pay a premium for products boasting recognizable ingredient lists. This consumer inclination is instrumental in fueling the growth of the milk replacer market.

Enhancing nutritional profiles stands as a prominent trend driving the milk replacer market. Industry leaders prioritize fortifying milk replacers with essential nutrients, aiming to augment their market presence. A case in point is PetAg Inc.'s February 2021 launch of Goat's Milk Esbilac, a scientifically formulated liquid milk replacer enriched with heightened nutritional content. Tailored for puppies, this product mirrors the nutrient composition of mother's milk, fortified with crucial vitamins, minerals, and amino acids for optimal nutrient absorption. Its comprehensive nutrient blend adheres to AAFCO dog nutrient profiles, emblematic of the market's push toward nutrition-centric product development.

Major players in the milk replacer market are concentrating on innovative solutions, such as organic lecithins, to gain a competitive edge. Organic lecithins, derived from sources such as soybeans or sunflowers, serve as natural emulsifiers. Notably, AgroHorizon Lecithin & Solutions Limited introduced Agrolec LVL-5 Bio and Agrolec LVL-8 Bio in June 2021, tailored for instantizing food powders, particularly within dairy and infant formula categories. Organic lecithin's protective properties shield powders from degradation, extending shelf life, and its natural, minimally processed nature appeals to food manufacturers seeking cleaner labels. This strategic utilization of organic lecithins underscores a drive for innovation within the milk replacer market.

In December 2022, Butterfly Equity, a prominent U.S.-based private food company, successfully completed the acquisition of Milk Specialties Global. The acquisition, executed for an undisclosed sum, marks a strategic move aimed at expanding, diversifying, and enhancing Butterfly’s existing product portfolio. By integrating Milk Specialties Global into its operations, Butterfly gains access to a range of science-driven nutritional dairy products and dairy protein ingredients, notably including milk replacers.

Major companies operating in the milk replacers market report are Cargill Incorporated, Archer Daniels Midland Company, CHS Inc., Alltech Inc., Nutreco Holding N.V., Glanbia Public Limited Company, Land O'Lakes Creameries Inc., Groupe Lactalis SA, Van Drie Holding BV, BEWITAL agri GmbH & Co. KG, Nukamel B.V., Kent Nutrition Group, Calva Products LLC, Hi-Pro Feeds LP, Milk Products LLC, Manna Pro Products LLC, Pet-Ag Inc., Lactalis Group, Royal FrieslandCampina N.V., Liprovit BV, Trouw Nutrition, Volac International Limited, Nor-Feed Sud, Bonanza Calf Nutrition, Merrick's Inc., Grober Nutrition, Agribrands Purina Canada Inc., Koninklijke DSM N.V., ForFarmers NV, Harbro Nutrition Inc.

Asia-Pacific was the largest region in the milk replacers market in 2023. The regions covered in the milk replacers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the milk replacers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categorizations of milk replacers are medicated and non-medical. Medicated variants pertain to formulas or feeds designed for young animals, such as calves or lambs, featuring medications aimed at preventing or treating specific illnesses or conditions. Available in both powder and liquid forms, these products come in milk-based, non-milk-based, and blended varieties. Milk replacers find application in feeding various livestock animals, including ruminants, swine, horses, pets, and others. Distribution channels for these products encompass online retailing, supermarkets, hypermarkets, convenience stores, and other relevant outlets.

The Milk replacers market research report provides Milk replacers market statistics, including Milk replacers industry global market size, regional shares, competitors with a Milk replacers market share, detailed Milk replacers market segments, market trends and opportunities, and any further data you may need to thrive in the Milk replacers industry. This Milk replacers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The milk replacers market consists of sales of whole milk replacers, skim milk replacers, specialty milk replacers, acidified milk replacers, and non-dairy milk replacers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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