The functional milk replacers market is estimated to secure a valuation of USD 5.6 Billion in 2023 and is estimated to rise to USD 9.3 Billion by 2033. The market is anticipated to grow at a CAGR of 5.2% during the forecast period. The factors accelerating the demand for functional milk replacers are as follows-
The functional milk replacer is available in powder & liquid form, the availability of the product in powdered form makes it easy to use. The functional milk replacer is formulated with high-quality ingredients like proteins, vitamins, and other nutritional elements. Owing to this the functional milk replacers market is expected to experience a growth in demand throughout the forecast period.
Growing awareness among dairy farmers regarding the potential of products as a result they are using milk replacers to improve the health of the animal in their dairies. This factor is expected to drive the market for functional milk replacers. Also, the increased use of plant-based protein sources such as wheat protein & soy protein is expected to drive the demand for plant-based protein sources in the functional milk replacers market throughout the forecast period.
The functional milk replacers market in North America is growing rapidly owing to the increasing demand for high-quality animal feed products and growing demand for meat and dairy products.
Europe is expected to account for a substantial share of the functional milk replacers market. The growth of the market in the region is attributed to growing research & development activities and the growing cattle population in the region.
Asia Pacific is expected to witness the fastest growth in the functional milk replacers market owing to rising urbanization and increased demand for high-quality animal products. Moreover, the increased awareness regarding the nutritional benefits of milk replacers along with cost-effectiveness is likely to boost the demand for functional milk replacers in the region.
Some key market players in the functional milk replacers market include ADM, Cargill Incorporated, Bongrain Group, Viafield, Amore proteins, Roquette Strauss Feeds, Trouw Nutrition GB, MAXCARE, Purina Animal Nutrition LLC, ProviCo Pty.Ltd among others.
As a part of growth strategies, the leading market players are emphasizing strategic partnership mergers, and acquisitions, to establish a firm foothold in the market. Apart from the collaboration market, players are also investing in research & development for better product development. Also, the market players in the global functional milk replacers market are focusing on improving production and distribution capability.
For instance, in August 2022 -Maxcare launches three new products in the New Zealand market. The product range includes Maxcare Electrolyte premium, Maxcare probiotic paste premium, and Maxcare whole milk additive. All these products are specifically formulated using high-quality ingredients to ensure optimum health & nutrition in infant animals.
The functional milk replacers market is expected to grow significantly in the future driven by increased demand for nutritious animal feed and advances in formulation and manufacturing processes and growing awareness regarding animal health.
| Data Point | Key statistics |
|---|---|
| Expected Market value in 2023 | USD 5.6 Billion |
| Projected Market Value in 2033 | USD 9.3 Billion |
| Growth Rate (2023 to 2033) | CAGR of 5.2% |
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The global sales/shipment of functional milk replacers is predicted to grow at a rapid pace from 2021 to 2031. The profitability of the dairy and cattle-breeding industry depends on the efficient development of young calves.
Before weaning, liquid feed intake is frequently restricted to encourage early dry feed intake and allow for the development of ruminal function and early weaning. Functional milk replacers have been found to have an impact on neonatal calves' performance, behavior, health, and welfare, which is estimated to be a significant market driver from 2021 to 2031.
The inclusion of Spray-dried plasma (SDP), spray-dried serum (SDS), or globulin concentrate have been extensively researched for their functional properties in milk replacers.
Ongoing studies on the subject are expected to discover the best way to use SDP in functional milk replacers. More recent findings reinforce the concept that ingesting SDP maintains gut barrier function and decreases inflammatory response overstimulation.
Immunoglobulins, albumin, fibrinogen, lipids, enzymes, and other substances having specialised biological activity in the intestine are found in spray-dried plasma and serum. Spray-dried plasma is now widely utilised to improve feed intake, growth, and efficiency in nursery pig feed and calf milk replacers.
The industry's ongoing research and development activity is expected to shed light on boosting the efficiency of functional milk replacers, resulting in market growth.
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Plant-based protein sources for functional milk replacers are both affordable and abundant. For instance, hydrolyzed wheat protein is a high-quality wheat protein concentrate developed to substitute dairy proteins in the animal feed system for young animals. It is a safe, consistent product that is highly digestible and is made in a secure, contaminant-free environment.
Another extensively utilised protein in functional milk replacers is soya protein concentrate, which is a by-product of the soya bean oil industry. Plant-based protein sources play an essential role in the protein component of milk replacers for young animals and provide an opportunity to optimally utilise by-products from other industries, which is expected to drive the demand for plant-based protein sources in the functional milk replacers market ;throughout the forecast period.
Because of the large cattle population in the region, functional milk replacers in North America account for a substantial portion of the overall market. Due of shifting dairy feed prices, numerous breeders are expected to move to functional milk replacers during the forecast period.
Furthermore, the region's market is expected to rise due to the emergence of precision nutrition techniques, concerns about animal mortality, and the added nutritional value of functional milk replacers.
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The cattle population of Europe is slightly less when compared to North America, however, the per capita consumption of beef and dairy products is very high in the region and is estimated to rise during the forecast period.
The pattern of economic factors driving European dairy farmers to increase production per cow includes a milk-to-milk replacers price ratio that has generally shifted in favour of functional milk replacers, owing to the greater price stability associated it and the fact that on limited land resources, gross output and, thus, net output can be increased.
The flourishing cattle-breeding industry is estimated to drive sales of functional milk replacers in Europe during 2021 to 2031.
Some key functional milk replacers market players include
Based on Distribution Channel:
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Source 6.2. Type 6.3. Form 6.4. Distribution Channel 7. Global Market Analysis and Forecast, By Source 7.1. Milk Sources 7.2. Non-milk sources 8. Global Market Analysis and Forecast, By Type 8.1. Instantized Formula 8.2. Non-instantized Formula 9. Global Market Analysis and Forecast, By Form 9.1. Powder 9.2. Liquid 10. Global Market Analysis and Forecast, By Distribution Channel 10.1. B2B (Direct sales) 10.2. B2C (Indirect Sales) 10.3. Online retail 11. Global Market Analysis and Forecast, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. Asia Pacific 11.5. Middle East and Africa 11.6. Oceania 12. North America Sales Analysis and Forecast, by Key Segments and Countries 13. Latin America Sales Analysis and Forecast, by Key Segments and Countries 14. Europe Sales Analysis and Forecast, by Key Segments and Countries 15. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 16. Middle East and Africa Sales Analysis and Forecast, by Key Segments and Countries 17. Oceania Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Source, Type, Form, and Distribution Channel for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. ADM 20.2. Cargill Incorporated 20.3. Bongrain Group 20.4. Viafield 20.5. Amore Proteines 20.6. Roquette Frères 20.7. Strauss Feeds 20.8. Trouw Nutrition GB 20.9. MAXCARE 20.10. Purina Animal Nutrition LLC 20.11. ProviCo Pty. Ltd among others
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Functional Milk Replacers Market
