Calf Milk Replacers Market expected to expand at a steady CAGR through 2023
Growing awareness regarding the product benefits is further boosting the growth of the market. Long shelf life of the product is an added advantage for the growth of the Calf Milk Replacers Market. However, high input costs of milk replacer proteins may hamper the growth of the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 6.7% of calf milk replacers market during the forecast period, 2017-2023.
Demand for calf milk replacers is witnessed to be growing over the past few years. Increasing awareness among the dairy farmers regarding the product potential is driving the growth of the market. Moreover, the global rise in milk consumption and increasing demand for milk-related products are influencing the growth of calf milk replacers market.
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Milk replacer companies have developed milk replacers with high protein, enabling better growth comparable to whole milk which is boosting the growth of the market. Continuous R&D and new product innovations with additional value to assist the calf growth is anticipated to propel the growth of calf milk replacers market. However, despite their convenience, very few tropical dairy farmers use CMR as an alternative to feeding whole milk. Usage of waste milk or trans-species milk as an alternative may hamper the growth of the calf milk replacers market.
Growing calf population is driving the growth of calf milk replacers market. Moreover, growth of dairy industry is boosting the growth of this market owing to increase in milk consumption for commercial use. Johne’s bacteria, E. coli, salmonella, and mycoplasma are some of the health threats for claves which is influencing the demand for calf milk replacers.
The major players in the Calf milk replacers market
- Land O’lakes, Inc. (U.S.)
- Cargill Inc. (U.S.)
- Archer Daniels Midland Company (U.S.)
- Frieslandcampina (The Netherlands)
- CHS Inc. (U.S.)
- Glanbia, PLC (Republic of Ireland)
- Lactalis Group (France)
Calf milk replacers market is segmented on the basis of type, source, form, and region.
Calf milk replacers market is segmented on the basis of type such as medicated milk replacer and non-medicated milk replacer. Non-medicated milk replacers are witnessed to hold a leading share in the market owing to comparative cost-effectiveness. However, medicated calf milk replacer is anticipated to be the fastest growing segment based on the growing concern for increasing diseases among calves.
Based on the source, the calf milk replacers market is segmented into dairy based and non-dairy based. Among them, the dairy-based milk replacers are projected to be the fastest growing segment based on high nutrition absorption from the dairy based calf milk replacers.
On the basis of form, the calf milk replacers market is segmented into powder and liquid form. The powdered segment is holding a major market for calf milk replacers. However, the liquid segment is projected to be the fastest growing segment based on its ease of digestibility resulting in the optimum intake of nutrition.
The Global Calf Milk Replacers Market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Europe is accounted to hold the highest share of calf milk replacers. Promotion of veal calves consumption in the EU is majorly driving the growth of calf milk replacers in this region. North America is estimated to have a moderate expansion in the market share of calf milk replacers over the estimated period with the U.S. as its major contributor.
Asia Pacific is witnessed to be the fastest growing region in calf milk replacers market. India and China are the two countries majorly contributing to the growth of calf milk replacers in this region. Latin America is anticipated to gain a moderate growth rate over the estimated period.