PUNE, India, April 12, 2017 /PRNewswire/ --
The report "Milk Replacers Market by Type (Medicated, and Non-Medicated), Livestock (Ruminants, and Swine), Source (Milk-based, Non milk-based, and Blended), Form (Powdered, and Liquid), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to grow at a CAGR of 7.59% from 2017, to reach a projected value of USD 3.54 Billion by 2022.
Browse 73 market data Tables and 70 Figures spread through 151 Pages and in-depth TOC on "Milk Replacers Market"
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The market has been gaining importance due to the increase in milk prices, growth in awareness regarding the benefits of the milk replacer products, adoption of precision nutrition techniques, and concerns about mortality and health-related aspects of the livestock.
"Non-medicated milk replacers segment accounted for the largest share in the Milk Replacers Market in 2016"
The non-medicated milk replacers segment accounted for the largest share in the Milk Replacers Market in 2016. The upsurge in demand for non-medicated milk replacers is attributed to its lower prices and ease of availability of raw materials. The demand in developing countries such as Brazil, India, and China is increasing as livestock bearers are cost-conscious and the dairy farming industry is being increasingly organized.
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"Milk-based replacers segment accounted for the largest share in the Milk Replacers Market in 2016"
The milk-based replacers are considered ideal as the digestive system of offspring is adapted to function on milk, which helps to absorb maximum nutrition from the milk-based replacers. These replacers are mostly used in developed countries due to high awareness among livestock rearers regarding the benefits of milk-based replacers.
"Europe accounted for the largest Milk Replacers Market in 2016"
The European region was accounted for the largest market for milk replacers due to the focus of the European Commission on reducing input costs and enhancing animal health in the early stages of growth. The increase in use of scientific methods of livestock rearing due to modernization of the livestock industry is fueling the demand for milk replacers in the region.
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