Milk Replacers Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, August 13, 2024 /EINPresswire.com/ -- The milk replacers market has experienced robust growth in recent years, expanding from $3.87 billion in 2023 to $4.24 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to rising milk prices, increased livestock productivity, disease prevention, increasing demand for animal protein, droughts and feed shortages, livestock health management.
Strong Future Growth Anticipated The milk replacers market is projected to continue its strong growth, reaching $6.03 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to sustainability and environmental concerns, government initiatives and regulations, innovations in nutritional science, use in non-traditional livestock species, focus on animal welfare.
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Growth Driver Of The Milk Replacers MarketThe rapid growth in the usage of dairy products is expected to propel the growth of the milk replacer market going forward. Dairy products are milk and any meal manufactured from milk, such as butter, cheese, ice cream, yogurt, and condensed and dried milk. Due to rapid population growth, changing dietary habits, and increasing awareness of the health benefits of dairy products, consumers are shifting towards the use of dairy products. To meet the growing demand for dairy products, milk replacers can be used to as a substitute for milk, which will drive the growth of the market.
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Major Players And Market TrendsKey players in the milk replacers market include Cargill Incorporated, Archer Daniels Midland Company, CHS Inc., Alltech Inc., Nutreco Holding N.V., Glanbia Public Limited Company.Major companies operating in the milk replacer market are focused on developing innovative solutions, such as organic lecithins, to gain a competitive edge in the market. Organic lecithins are natural emulsifiers extracted from organic sources such as soybeans, sunflowers, or rapeseed.
Segments:1) By Type: Medicated, Non-Medicated2) By Source: Milk-Based, Non-Milk-Based, Blended3) By Form: Powder, Liquid4) By Livestock: Ruminants, Swine, Equine, Pets, Other Livestock5) By Distribution Channel: Online Retailing, Super Market, Hyper Market, Convenience Stores, Other Distribution Channels
Geographical Insights: Asia-Pacific Leading The MarketAsia-Pacific was the largest region in the milk replacers market in 2023. The regions covered in the milk replacers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Milk Replacers Market DefinitionMilk replacers are specially formulated products made from a combination of ingredients that mimic the composition of milk, such as milk proteins, fats, and carbohydrates. It is typically used as a substitute for milk in foods where more protein and less lactose are preferred.
Milk Replacers Global Market Report 2024 from The Business Research Company covers the following information:• Market size data for the forecast period: Historical and Future• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Milk Replacers Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on milk replacers market size, milk replacers market drivers and trends, milk replacers market major players, milk replacers competitors' revenues, milk replacers market positioning, and milk replacers market growth across geographies. The milk replacers market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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August 13, 2024, 14:00 GMT
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