Market Synopsis
As per the assessment by Market Research Future (MRFR), the global calf milk replacers market is anticipated to reach a significant value, at a CAGR of 6.7% during the forecast period from 2017-2023.
The growing dairy industry is anticipated to boost the calf milk replacers market 2020 due to the rising milk consumption for commercial use. The escalating demand for quality milk products is predicted to increase the need for calf replacers which is expected to underpin the market expansion. Calf milk replacers are likely to gain traction for it is an efficient alternative to cow's milk that can control the spread of disease to calves, which can strengthen the market in the review period. Furthermore, the product's long shelf is expected to increase its demand and support market expansion during the projection period
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On the flip side, the rising concerns about animal welfare are projected to obstruct the market from expansion during the review period. However, the adoption of precision techniques such as phase feeding processes is anticipated to aid calf milk replacers' demand, which can boost the market growth.
Market Segmentation
The segmental analysis of the global calf replacers market growth is done by type, form, and source.
The type-based segments of the global calf replacers market growth are medicated milk replacer and non-medicated milk replacer. Between the two segments, the non-medicated milk replacers are expected to dominate the market during the review period. On the other hand, the medicated calf milk replacer is expected to be the fastest growing segment during the projection period.
The form-based segments of the global calf replacers market growth are powder and liquid form. Between the two segments, the powdered segment is expected to acquire major market share during the forecast period.
The source-based segments of the global calf replacers market growth are dairy based and non-dairy based. Between the two segments, the dairy-based segment is expected to be the fastest-growing segment during the review period due to its high nutrition absorption.
Regional Analysis
Based on the region, the global market is segmented into North America, Asia-Pacific, Europe, and the Middle East & Africa.
As per the assessment by MRFR, the global market is expected to be dominated by Europe owing to the veal consumption. The European Commission is expected to focus on health and nutrition of animals at their growing stage which is expected to strengthen the regional market during the review period. Countries like the UK and Germany are predicted to make significant contribution in the forthcoming period.
North America is likely to take second position during the forecast period owing to the growing implementation of precision techniques. Besides, the increasing usage of milk product is expected to play an important role in growing the regional market.
The APAC region is likely to be the fastest-growing market during the review period. The regional expansion of the market can be attributed to the increasing demand for dairy products. Further, the presence of evolving economies like India and China are predicted to make significant contribution in the coming period.
The MEA region is expected to acquire a small market share during the evaluation period owing to the presence of under-developed economies. However, the presence of untapped market opportunities can augment the regional market.
Key Players
Some of the eminent players of the global calf replacers market growth are and Cargill Inc. (U.S.), Frieslandcampina (The Netherlands), Archer Daniels Midland Company (U.S.), CHS Inc. (U.S.), Lactalis Group (France), and Glanbia, PLC (Republic of Ireland).
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