Latin America Milk Replacers Market size was approximately USD 0.22 billion in 2022. It is likely to grow at a CAGR of 5% to reach USD 0.28 billion by 2028. It is second to last in terms of market share.
A milk replacer is sometimes used as a substitute for feeding the progeny of cows or other animals if the mother’s milk is not adequately available.
Widespread technique of precision nutrition, growing utilization of milk worldwide, latest technological developments in Milk Replacers and growth/investment opportunities are quite few of the observable trends in this market. Liquid milk replacers are steadfast in their growth to capture the rising demand as their digestion is easy, and provide appropriate nutrition to offspring.
Primary factors driving this market comprise the rising milk prices, increasing awareness of cost-benefits and nutritional aspects of milk replacer substances, wide ranging adoption of precision nutrition techniques, growing mortality concerns and other health-related issues, conjoined with increase in nutritional mismatches in the early birth stage of livestock offspring.
High costs of milk replacer proteins coupled with availability and rising utilization of waste or trans-species milk as a substitute are the primary factors inhibiting the growth of this market. Milk replacers market is limited by their availability to the formulators for development because of the stringent regulatory controls imposed by the government on the use of antibiotics. However, feed can’t be manufactured without government sanction.
Latin America Milk Replacers Market can be categorized 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 2016, powder milk replacers segment was the largest and fastest-growing segment because of ease of use, handling, and storage.
Geographically the Latin America Milk Replacers Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. It is second to last both in terms of market share and CAGR. Brazil commands the largest market share in the region.
Key Players in the Market:
Major Key Players in the Latin America Milk Replacers Market are
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