The rising consumption of dairy products and the adoption of precision techniques are the key factors driving the growth of liquid milk replacers market.
Milk replacers act as an important dietary requirement for pre-weaning livestock, wherein their proper portioning and formulation results in improved biosecurity, better livestock performance, and greater economic viability. Furthermore, liquid milk replacers, when strategically formulated, could also help improve livestock growth and performance, which could essentially result in a better outcome than what is attainable with a whole milk diet. These factors have led livestock farms to use liquid milk replacers. The adoption of precision nutrition techniques among livestock rearers is further expected to propel the market growth for liquid milk replacers. MarketsandMarkets expects the global liquid milk replacers market 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.
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The medicated segment, by type, is projected to grow at the higher CAGR during the forecast period. 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. Infant livestock requires enhanced nutritional diet; this has led livestock rearers to use medicated liquid milk replacers. Livestock rearers feed these products to cater to the nutritional requirements of infant livestock and to eliminate diseases and contamination risks of feeding waste milk. These products also contain ingredients that are protein-rich and easy to digest. In addition, these ingredients also contain fat, vitamins, and minerals. Consumption of liquid milk replacers further helps in preventing bacterial enteritis caused by E coli and bacterial pneumonia caused by Pasteurella multocida.
The calves segment, by livestock, is projected to grow at the highest CAGR during the forecast period. Proper management of calves is a prerequisite to the success of a dairy farm. Raising healthy calves is one of the major aspects of livestock management, in general, given their use in dairy and meat production. The optimal level of nutrition in the early life of animals facilitates their faster growth and early maturity. Infant calves should be carefully reared so that they attain about 70%-75% of mature body weight at puberty. Poor feeding could lead to a higher age of calves at first calving and an overall reduction in their life spans. 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; they contain nutrients such as protein, fats, vitamins, and minerals in the optimum required ratio to ensure optimal growth.
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In terms of geographical coverage, the liquid milk replacers market has been segmented into 4 regions, namely, North America, Asia Pacific (APAC), Europe, RoW (Rest of the World). North America is projected to record the highest growth rate during the forecast period. This is due to their irreplaceable dietary value and ease of access, which has created a robust market for liquid milk replacers in the region. Most market players, such as Calva Products, LLC (US) and Liprovit (Netherlands) have an established and well-networked market for liquid milk replacers in these regions, with the majority of their revenues being generated from North America and Europe.
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