Milk Replacers Market forecast 2020 can possibly cover significant grounds at a rapid pace over the evaluation period (between 2018 and 2023), says MRFR/Market Research Future. We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Top Drivers and Barriers
Countries across the globe are trying to achieve higher quality produce as well as optimum health of animals, however; the lack of sufficient nutrients is leading to poor health sand subsequently dismal quality produce. Therefore, for ensuring proper health and growth of animals, demand for Milk Replacers Market forecast has been rising significantly worldwide. Also, the escalating demand for milk-based products and beef-based products has been enhancing the growth of livestock breeding. In order to maintain and bolster the quality of the final livestock products right from when the calf is born, the key focus remains on the diet of the offspring. As milk is considered to be a primary product to be sold and is utilized as a raw material in several milk-based products, animals are fed high quality milk replacers, benefitting the overall market.
Developed economies generally pressurize the meat and dairy products to adopt processes that help bolster the quality of the produce and also prevent the spread of any disease that can arise from an unregulated diet. The expanding pool of organized dairy producers across developing countries is also fostering the demand for milk replacers, and can emerge as an attractive opportunity for global players in the following years.
The well-established vendors in the global market have the advantage of sufficient products, better performance, impeccable technical as well as after-sales services. The market is also witnessing a rise in the number of well-diversified local and regional players gaining entry. The competitive landscape is quite extensive with most of the players taking up strategies that include product innovation and new launches that helps them gain a significant share in the global market.
The milk replacers has been segregated into type, livestock and source.
The various types of milk replacers that are available in the global market are medicated as well as non-medicated.
The livestock-based segments are swine, ruminants, and more.
The Milk Replacers Market forecast, depending on source, caters to non-milk based, blended as well as milk based.
The market’s regional segmentation comprises Europe, Asia Pacific or APAC, North America, along with RoW or rest of the world.
Europe is all set to secure the top position in the global market over the next few years, primarily owing to the rising consumption of milk replacers backed by European Commission’s efforts to reduce the input cost and bolster animal health as well as performance. Italy, France and Germany are some of the strongest markets in the region for milk replacers, given the thriving livestock sectors in these countries. Robust demand for various dairy products, be it butter and milk or protein rich drinks, has been the result of a multitude of factors that include notable advancements in the economic status combined with the mounting awareness level with regard to the nutritional values of milk replacers. Also, with the significant growth of dairy farms in the region, to maintain the profitability players in the Milk Replacers Market forecast are trying to redefine their growth strategies that include product innovations and more.
The APAC market, on the other hand, can give tough competition to Europe and garner the fastest growth rate with India and China taking the lead in the years ahead. Milk replacers are gaining immense traction in the region on account of the rampant need for top quality animal products in line with the growth in urbanizations along with the surge in health consciousness. Farmers are increasingly striving to focus on the nutritional aspect of the young livestock to maximize productivity. Many of the players based in the region are focusing on developing products that facilitate better feeding rates and help modify the composition to improve the nutrient intake, which accelerates the market growth.
The highly renowned market contenders include Nutreco N.V. (The Netherlands), Lactalis Group (France), CHS Inc. (US), Cargill Inc. (US), Alltech (US), Royal FrieslandCampina N.V. (The Netherlands), Archer Daniels Midland Company (US), Vandrie Group (The Netherlands), Glanbia, PLC (Ireland), Land O'lakes, Inc. (US), and more.
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