The rising consumption of dairy products and the adoption of precision techniques are the key factors driving the growth of this market.
The global liquid milk replacers market size is expected to grow from USD 188 million in 2018 to USD 243 million by 2023, at a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period. The major driving factors in the liquid milk replacers market are increasing consumption of dairy products and the adoption of precision nutrition technique.
The major liquid milk replacers vendors include Liprovit, BV (Netherlands), Calva products LLC (US), PETAG Inc. (US), Cargill (US), Archer Daniels Midland Company (ADM) (US), CHS Inc.
(US), Land O’Lakes Inc. (US), Glanbia Plc (Ireland), Nutreco N.V. (Netherlands), and Lactalis Group (France).
These players have adopted various growth strategies such as expansions, acquisitions, and new product launches to expand their presence in the global liquid milk replacers market. Expansions has been the most dominating strategy adopted by major players from 2014 to 2018.
This has helped them to innovate their offerings and broaden their customer base.
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In line with the rising importance of the liquid milk replacers, Cargill has established its presence in diversified feed markets; this has helped it to minimize risks and dependency on any particular business segment. The company has a strong product portfolio and brand image, which enables it to strengthen its position in the market.
It has strong R&D capabilities, which provide it with a strategic advantage over its competitors. The company is focusing on R&D to meet the demands of the feed industry.
The company focuses on obtaining market-driven solutions to meet the increasing demand for milk replacers and other feed products. It is involved in various strategic growth initiatives such as expansions and investments.
For instance, Cargill opened a new animal nutrition technology application center in Izmir, Turkey, in January 2016, to aid the increase in local awareness for calf milk replacers.
Nutreco N.V. focuses on catering not only to the milk replacers market but the overall feed industry. The company leads in terms of operational and financial strength and has focused on growing within the milk replacers market through both organic and inorganic means.
It has expanded its product portfolio and geographic reach through new product launches, expansions, investments, and acquisitions. For instance, in 2017, Sprayfo altered the composition of its products in the above product range to reduce the usage of chemicals to a minimum level.
In 2016, Trouw Nutrition (Netherlands), a subsidiary of Nutreco (Netherlands), opened a new Calf & Beef Research Facility close to Boxmeer (Netherlands) to meet the demand for milk replacers in animal nutrition applications.
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