The pet milk replacers market is projected to grow at a CAGR of 7.9% during the forecast period. The market is anticipated to cross a market share of US$ 480 million by 2033 while witnessing a revenue of US$ 225 million in 2023.
Growing adoption of pets coupled with the commercialized pet industry has bloomed during the previous forecast period as it thrived at a higher CAGR of 10.7% between 2017-2022. However, the pandemic led people to live alone and have a pet partner. The expanded pet market is followed by the latest forecast period.
– Vendors focus on creating milk replacer formulas identical to organic milk by adding the same proportion of nutrients and other elements. High demand comes from pet parents who have puppies and kittens as their pets.
– The awareness about the health and development of pets has increased along with the caring behaviour towards them. The increasing trend of treating pets as their family members has helped the pet-based market to gain traction, including the pet milk replacers market.
– Advanced technology creates the right proportion of protein and other elements for baby pets. Organizations that take care of orphaned puppies and kittens adopt commercial pet milk replacers through homemade milk replacers are likely to hamper the per milk replacers market growth through homemade puppy milk replacers are likely to restrict growth of pet milk replacers market.
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Key Points
- The US market is the biggest and the rapidly growing market for pet milk replacers and is expected to cross a value of US$ 172.2 MN by 2033. The regional market is expected to grow at an elevated 7.8% between 2023 and 2033.
- The China market for pet milk replacers thrives at a CAGR of 8.9% during the forecast period. This market is also likely to reach a value of US$ 34.7 Mn by 2033.
- The dogs segment is likely to flourish under the pet type category as dogs are the most preferred pets around the world, along with milk being an essential element in a puppy’s overall development. This segment is also expected to witness a CAGR of 7.5% during the forecast period.
The medicated segment leads the product type tally with a CAGR of 7.1% between 2023 and 2033, while it witnessed a CAGR of 10.2% during the previous forecast period.
Competitive Landscape
Some of the prominent players working in the Pet milk replacers market are Cargill, Archer Daniels Midland Company, Glanbia plc and, CHS Inc., Nutreco N.V. The competitors in the market focus on delivering the most identical milk type along with the higher amount of nutrients. Moreover, Key players are also trying to advance the digestibility of these milk replacers.
For instance:
- Cargill has introduced its HerdFirst milk replacers such as HerdFirst 20:20, HerdFirst 22:20, HerdFirst Early Calf 22.5:20 etc. These milk replacers provide support for enteric and overall health during the critical weeks.
- Archer Daniels Midland has introduced the calf milk replacer line that has been developed under the component ADM Alliance Nutrition and calf and heifer feeding programs.
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Key Segments
By Pet Type:
- Dogs
- Cats
- Others
By Product Type:
- Medicated
- Non-medicated
By Form Type:
- Liquid
- Powder
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
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