Asia Pacific Milk Replacers Market size was approximately USD 0.5 billion in 2022. It is estimated to grow at a CAGR of 8% to cross USD 0.74 billion by 2028. It captures 20% of the global market share.
A milk replacer is commonly utilized as an alternative to feed the offspring of animals if the mother’s milk is not available.
A widely popular technique of precision nutrition, growing consumption of milk worldwide, cutting edge technological advancements in Milk Replacers and growth/investment opportunities are few of the trends in this market. Liquid milk replacers are capturing the growing demand as they are quite easy to digest, and provide nutrition to offspring needed in the right amount.
Major factors fuelling this market include the growing milk prices, increasing awareness of cost-benefits and nutritional aspects of milk replacer products, very wide ranging acceptance of precise nutrition techniques, growing concerns for the mortality and sundry health-related aspects, as well as an increase in nutritional mismatches in the early birth stage of livestock offspring.
Increasing input costs of milk replacer proteins coupled with availability and increasing utilization of waste or trans-species milk as an alternative are the primary factors hampering the development of this market. Many limitations on the range of milk replacers available to the formulators to undertake the development have arisen due to the strict regulatory controls imposed by the government on the usage of antibiotics. Further, feed cannot be manufactured without government sanction.
Asia Pacific Milk Replacers Market Segmentation Analysis:
The Asia-Pacific Milk Replacers market can be segmented 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 2018, powder milk replacers segment was the largest and fastest growing segment because of ease of use, handling, and storage.
By geography, the Asia-Pacific Milk Replacers market has been segregated into China, India, Japan, South Korea, and Australia. Asia-Pacific is the rapidly developing market. It is the third largest market globally. Rising demand in India and China is due to the fact that the livestock bearers are getting cost-conscious and the market is getting better organized.
Key Players in the Market:
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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