February 3, 2023

The global pet milk replacers market size anticipates exponential CAGR during the forecast timescale on account of rising concerns for the health and nutrition of animals. The market has witnessed a risen awareness regarding the product potential followed by increased investments in the R&D for producing proficient milk replacers. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Pet Milk Replacers Market, 2021-2028.

The pet milk replacers market is gaining immense popularity due to high knowledge about milk replacers’ health benefits among pet owners. For instance, newborn animals can gain enhance long-term growth rate advantages. Milk replacers contain high nutrition that can ensure the proper growth and development of raring animals. Market growth factors like these, amongst several others, are described in-depth in the report.

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COVID-19 Impact-

The global pandemic has resulted in disrupted operations and supply chain networks. The shrunken revenues of players across different markets and industries can be witnessed as they struggle to stay afloat in the market. The questionable efficacy of vaccines and the countries experiencing lockdowns and social distancing norms due to the new emerging mutations of COVID-19 are hampering the pet milk replacers market. Nonetheless, the research report’s in-depth analysis will help you gain valuable insights into this niche market.

Segmentation-

Categorized by form, the market segments into powder and liquid. Based on type, the market segregates into medicated and non-medicated. Based on its end-use, the market segments into calves, kittens, puppies, and others (piglets, foals, etc.). Geographically, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage-

The report contains a detailed qualitative and quantitative analysis of this market. The report offers a thorough study of the various factors governing regional market growth, such as the technological, social, economic, and environmental status of that region. The information presented is gathered through interviews with multiple stakeholders and will help you understand the demographics of this niche market. The report also focuses on the recent advancements in the industry, including information on new product launches, expansions, and key market trends

Drivers & Restraints-

Rising Expenditure on Pet Food to Drive Market

The milk replacers offer high nutritious value and can be fed to baby animals without mothers. The physical, chemical, and nutritional traits of milk replacers are similar to whole milk and can fulfill the baby animals’ developmental needs. Pet owners’ awareness and concern regarding their pet’s wellbeing is gradually increasing. Hence, the rising expenditure by pet owners for pet food products is driving the growth of the market. Additionally, the availability of vitamins, minerals, and medicine replacers are expected to bring a positive impact on the product’s growth.

However, the traditional ingredients used to prepare milk replacers such as milk powder, animal fat, and cereal flour have experienced fluctuating costs in recent years. This is likely to act as a restraint in the market growth.

Regional Insights-

Europe to Hold a Significant Share in Global Market

A rising number of pet adoption in Europe is favoring the market growth. According to the Pet Food Industry Federation (FEDIAF), at least one pet is owned by an estimated 85 million European households, and the count is increasing. Additionally, the European Commission has increased its focus on animal health and nutrition during the early growth stages of pet animals. This is expected to bring fortune to the milk market replacers during the projected timescale. On the other hand, there has been a surge in demand for dairy products in the Asia Pacific. The concern for animal’s health and welfare is rising, which is a major source of income in many developing countries located in Asia Pacific. Scarce feed resources cause low productivity and poor growth of animals. Hence, the anticipated need for milk replacers is expected to aid growth in the region.

Competitive Landscape-

Key Players’ Trail-blazing Strategies to Uplift Pet Milk Replacers Industry

The market for pet milk replacers is fairly competitive. Several players are strategizing to stay at the top of the game. The dynamic consumer’s inclination towards nutritious and healthy pet food and the product’s awareness are key aspects to the market’s growth. Therefore, pushing key players to develop innovative offerings and bolster their market position.

Industry developments- 

  • February 2021: Pet-Ag Inc. launched its new Goat’s Milk Esbilac Liquid Milk Replacer via distributor and retail channel partners. The new, ready-to-use liquid facilitates convenience and more choices to fulfil the growing pet parent needs.
  • July 2018: Form-A-Feed launched Prime Life. A new calf product range that will cater to fit very calf through several milk replacers and calf feed product solution options.

List of Key Players in the Pet Milk Replacers Market:

  • Cargill
  • Archer Daniels Midland Company
  • Nutreco
  • Liprovit BV
  • Lactalis Group
  • Glanbia Plc.
  • FrieslandCampina
  • Alltech
  • CHS Inc.
  • PETAG Inc.

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https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/pet-milk-replacers-market-103839

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