The global liquid milk replacers market size is expected to grow from USD 188 million in 2018 to USD 243 million by 2023, at a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period. The major driving factors in the liquid milk replacers market are increasing consumption of dairy products and the adoption of precision nutrition technique.
The major liquid milk replacers vendors include Liprovit, BV (Netherlands), Calva products LLC (US), PETAG Inc. (US), Cargill (US), Archer Daniels Midland Company (ADM) (US), CHS Inc. (US), Land O’Lakes Inc. (US), Glanbia Plc (Ireland), Nutreco N.V. (Netherlands), and Lactalis Group (France). These players have adopted various growth strategies such as expansions, acquisitions, and new product launches to expand their presence in the global liquid milk replacers market. Expansions has been the most dominating strategy adopted by major players from 2014 to 2018. This has helped them to innovate their offerings and broaden their customer base.
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In line with the rising importance of the liquid milk replacers, Cargill has established its presence in diversified feed markets; this has helped it to minimize risks and dependency on any particular business segment. The company has a strong product portfolio and brand image, which enables it to strengthen its position in the market. It has strong R&D capabilities, which provide it with a strategic advantage over its competitors. The company is focusing on R&D to meet the demands of the feed industry. The company focuses on obtaining market-driven solutions to meet the increasing demand for milk replacers and other feed products. It is involved in various strategic growth initiatives such as expansions and investments. For instance, Cargill opened a new animal nutrition technology application center in Izmir, Turkey, in January 2016, to aid the increase in local awareness for calf milk replacers.
Nutreco N.V. focuses on catering not only to the milk replacers market but the overall feed industry. The company leads in terms of operational and financial strength and has focused on growing within the milk replacers market through both organic and inorganic means. It has expanded its product portfolio and geographic reach through new product launches, expansions, investments, and acquisitions. For instance, in 2017, Sprayfo altered the composition of its products in the above product range to reduce the usage of chemicals to a minimum level. In 2016, Trouw Nutrition (Netherlands), a subsidiary of Nutreco (Netherlands), opened a new Calf & Beef Research Facility close to Boxmeer (Netherlands) to meet the demand for milk replacers in animal nutrition applications.
By type, the medicated segment is expected to be the faster growing in the market during the forecast period.
The medicated segment is projected to grow at the higher CAGR between 2018 and 2023. Medicated liquid milk replacers provide various health benefits and improve the performance of infant livestock. These milk replacers are mainly fed to infant livestock that has physical and nutritional deficiencies, weaknesses, or diseases; and requires an enhanced nutritional diet. This has led livestock rearers to use medicated liquid milk replacers.
By livestock, the calves segment is growing at the fastest rate during the forecast period.
The calves segment, by livestock, is projected to be the fastest-growing store type in the global market. Calves are born with only the abomasum, i.e., the fourth stomach functioning; and their digestion is only dependent on the enzymes existing in the abomasum. For this reason, infant animals are fed with high-quality milk replacers, as they fulfill their nutritional needs and boost their immunity toward diseases. Liquid milk replacers for calves are nutritious concentrate mixes and contain nutrients such as protein, fats, vitamins, and minerals in the optimum required ratio to ensure optimal growth.
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Europe is projected to account for the largest market size in the liquid milk replacers market during the forecast period.
Europe is estimated to account for the largest share of the market in 2018. The consumption of liquid milk replacers in this region is majorly driven by the rising demand for milk and milk products among consumers. According to the Joint Research Center of European Commission, about 12.4% of the entire milk production in the region is used for general consumption; with 36.1% being used for cheese production, 28.7% being used for butter, and 11.5% for cream. This leaves about 20% of the produced milk available for young livestock consumption, providing a huge market opportunity for milk replacers. Milk replacers also form an important dietary input for livestock fattening purposes, wherein they constitute the major feed products and account for a majority of the feed cost for young livestock meant for slaughter. Milk replacers are majorly produced in countries such as France, Germany, Italy, the Netherlands, and Belgium; and are traded throughout the region.