Global Pet Milk Replacers Market by Form (Liquid, Powder), by Pet Category (Cats, Dogs), by Product (Non-medicated, Medicated) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global pet milk substitutes market was worth USD 184.3 million in 2019. It is projected to grow at a compound annual rate (CAGR of 7.5%) between 2020 and 2027. Market growth is largely due to the increasing number of household pets. The market will also be driven by the increasing demand for whole-food and nutritious pet food.

The number of households with pets has increased significantly over the last few years. There is a significant increase in the number of pets worldwide, which creates a business opportunity. The demand for industry goods such as medicine, food, and accessories has increased with more households adopting cats and dogs. The American Pet Product Association estimates that the average cat or dog owner spends between USD 200 and USD 300 annually on pet foods, as well as milk replacements for their young animals.

These milk substitutes are vital in maintaining and enhancing the health of animals, particularly puppies and kittens at their earliest stages. This nutritional food item provides a broad range of micronutrients including vitamins and minerals that are essential for the development and growth of commercial pets such as kittens or puppies.

This is an economical way to feed infants, as it is less expensive than regular milk. These milk substitutes are made from the same ingredients as mother's milk, and are intended to be fed to young animals. These pet milk substitutes can contain vitamins and minerals that aren't found in mother's milk and can be delivered to different animals according to their needs. These factors will have a positive effect on the industry's growth in the coming years.

In many regions, rising milk prices are driving demand for milk substitutes. These pet milk substitutes are expected to be popular due to their low price and enhanced nutritional value. The pet milk substitutes market is also supported by the growing adoption of a gluten free diet among different animals.

The world witnessed a pandemic of COVID-19 at the beginning of 2020. This led to a lockdown across almost all countries. The restriction on going outside has resulted in the ban on all pets from leaving their homes. These times of panic are driving the demand for pet milk substitutes. They are rich in nutrition and can be consumed by pets on a daily basis. These market trends will continue to drive demand for pet milk substitutes in 2020.

Insights on the Pet Category

The largest revenue share was 51.4% for the dogs category segment in 2019. It is expected that it will continue to lead the market over the forecast period due to the high adoption of puppies by customers around the world. The segment's growth is expected to be positive due to the shift towards dog adoption as a companion for families. In emerging economies like India, China and Brazil, pet owners have seen a rise in their spending power, which has led to an improvement in the segment.

Due to the growing popularity of cats as companion animals, the cats category will be the fastest-growing over the forecast period. France is home to many cat-loving households.

Product Insights

In 2019, the non-medicated segment held the largest share at more than 70%. This is due to the high adoption of puppies by customers around the world. Non-medicated milk substitutes are widely used to replace whole milk in cats, dogs, and calves. To support an animal's growth, the product uses a variety of vitamins, probiotics, ionophores and coccidiostats. These factors will have a positive effect on the segment's growth in the coming years.

The fastest-growing segment in the forecast period is expected to be medicated products. Pets can only be given medicated milk substitutes if they have been born with a disease or a deficiency. Because of the possibility of the intestinal system of a newborn pet being incompatible with the product, these replacers cannot be given to healthy pets.

Form Insights

The largest revenue share, 90.1%, was held by powder form in 2019. It is expected to continue its lead during the forecast period. Because of their longer shelf lives, ease of transportation, storage, handling, and transport, powder form is popular. Powder products are also comparable to regular milk in nutritional content and cost-effective compared to liquid milk substitutes.

During the forecast period, the industry will see new opportunities through continuous R&D from various companies in order to broaden the product's use and create new products.

Over the forecast, the fastest-growing segment is expected to be liquid milk replacers. Factors such as increasing milk consumption and the development of precision nutrition techniques are driving demand for liquid milk substitutes. The segment's growth could be impeded by logistical and preservation advantages of dry milk substitutes.

Regional Insights

North America was the country with the highest revenue share, exceeding 35.0% in 2019, Over the forecast period, the rising trend in pet adoption by Americans is expected to drive the demand for pet milk substitutes. The demand for pet milk replacements will also be boosted by the increasing number of unclaimed animals shelters, including puppies, kittens and dogs.

In the last few years, pet owners have treated their pets like family and provided them with high-end organic and natural milk substitutes. The market is expected to grow in the coming years due to this trend and the high disposable income of North American and European consumers.

Asia Pacific will be the region with the fastest growth over the forecast period. Consumer spending on pet care has been boosted by the growing trend towards humanization and increasing disposable income in countries like South Korea, Japan, India, China, and China. Over the forecast period, this is expected to have an impact on the market.

Market Share Insights & Key Companies

Due to the presence strong players, the global market is somewhat consolidated. Many other companies are expanding their product lines to compete in the lucrative market for milk substitute. These companies are using a variety of marketing strategies to reach their target market, such as new product launches, expanding product portfolios, mergers & acquisitions, and product expansion.

CHS Inc., a major player in the animal nutrition market and supplement market, is making changes to their top management to expand the market. Jay Debertin was appointed CEO and President of CHS Inc. in May 2017. The company wanted to increase its product and service offerings, and strive for operational excellence.

CHS Inc., Cargill, Incorporated, PetAg Inc., and Liprovit BV are key manufacturers that have adopted marketing strategies such as expanding their distribution channels to increase their customer base around the world. CHS Inc., for example, announced in March 2019 that it had acquired West Central Distribution, LLC, which is a wholesale distributor of agronomy product. The company plans to increase its product range, services and technology cooperatives with this acquisition. The following are some of the most prominent players in pet milk replacements:

• CHS Inc.

• Pet-Ag, Inc.

• Cargill, Incorporated

• Archer Daniels Midland Company

• Land O'Lakes

• Glanbia plc

• Liprovit BV

• Calva Products, LLC

• Jordan Agri Limited

• Nutreco N.V.

Up Market Research published a new report titled “Pet Milk Replacers Market research report which is segmented by Form (Liquid, Powder), by Pet Category (Cats, Dogs), by Product (Non-medicated, Medicated), By Players/Companies Nutreco NV, Calva Products LLC, Jordan Agri Limited, Archer Daniels Midland Company, Cargill Incorporated, Liprovit BV, Pet-Ag Inc, Glanbia plc, CHS Inc, Land O’Lakes”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Pet Milk Replacers Market Report Segments:

The market is segmented by Form (Liquid, Powder), by Pet Category (Cats, Dogs), by Product (Non-medicated, Medicated).

Pet Milk Replacers Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Pet Milk Replacers Market

Overview of the regional outlook of the Pet Milk Replacers Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Pet Milk Replacers Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Pet Milk Replacers Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Liquid

                2. Powder

                1. Cats

                2. Dogs

                1. Non-medicated

                2. Medicated

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Pet Milk Replacers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Pet Milk Replacers Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.