Global Pet Milk Replacers Market - 2022-2029

Global Pet Milk Replacers Market - 2022-2029

Market Overview

The global pet milk replacers market valued USD xx million in 2021 and is forecast to reach USD xx million by 2029, growing at a CAGR of xx% during the forecast period (2022-2029).

Pet milk replacement products are a healthy alternative for puppies & kittens. Sometimes mother animals are unable or unavailable to nurse their baby animals. Therefore, pet owners are slanted toward milk replacers to ensure the baby animals' maximum growth rate, such as puppies, calves, and others. A good milk replacer product has physical, chemical, and nutritional characteristics similar to whole milk, which can help fulfill the animals' energy and nutrient supply. Rising awareness of pet health has resulted in an increasing number of initiatives toward helping orphaned puppies and kittens. This result is expected to drive the growth of the pet milk replacer market over the forecast period.

Market Dynamics:

Increasing requirement for the nutritious and whole-food for pets

Over the last few years, the movement of household pets has significantly increased among consumers across the globe. The number of pets is substantially increasing across the globe, thus expanding the requirement for nutrition for pets. This factor is anticipated drive the market growth. As households adopt more cats and dogs, demand for industrial goods, such as milk replacement products, medicine, foods, and accessories, increased. According to the American Pet Product Association, an average U.S. household spent US$230.3 on pet food in 2020, including milk replacements, for young animals annually. Moreover, the milk replacers play an important role in improving and maintaining the health of various animals, especially puppies and kittens in their early stages. This nutritional food item offers a wide range of micronutrients, including minerals and vitamins, essential for the growth, development, and well-being of commercial pets, such as kittens and puppies. These nutritional factor products propelled the growth of the pet milk replacer market. Furthermore, the pet milk replacers market is driven by the rising adoption of a gluten-free diet among various animals.

However, the fluctuating cost of traditional ingredients such as milk powder, animal fat, and cereal flour used in the preparation of milk replacers is predicted to hamper the market growth. Moreover, the pet milk replacer that is not mixed correctly and fed is inappropriately given to the incorrect animals. The defect results cause the animal to become seriously ill or die. The result factors are expected to hinder the market growth.

Market Segmentation:

The non-medicated products held the highest market revenue share of xx% in the year 2021

Based on the product type, the non-medicated segment accounted for the largest share of more than xx% in 2021. The segment is owing to the large adoption of puppies by customers across the globe. Non-medicated milk replacers have widely been used to replace whole milk for cats, dogs, and calves. The product uses various vitamins, minerals, essential oils, herbs and extracts to help support digestive health and immune function. These factors are expected to impact segment growth over the next few years positively.

Based on the product form, powder form accounted for the largest revenue share of xx% in 2021 and is anticipated to maintain its lead over the forecast period. Consumers widely use the powder form of the product because of its longer shelf life, easy transportation, storage, and handling. In addition, powder-based products have the same fortified with vitamins and minerals as that regular milk.

Geographical Penetration:

North America is dominating the global pet milk replacers market in the year 2021

North America was dominating the global pet milk replacers market in 2021. The increasing tendency of the pet population among consumers in the U.S. is expected to fuel the demand for pet milk replacers over the forecast period. According to the American Pet Products Association's 2021-2022 National Pet Owners Survey, 114.3 million U.S. households own a pet. In addition, a rising number of animal shelters for orphaned animals, including kittens and puppies, is expected to boost the demand for pet milk replacers. Over the last few years, pets have been treated as members of the family. Hence, owners provide them with expensive food products and organic milk replacers. This tendency, combined with the high disposable income of consumers, particularly in the North American region, is expected to impact the market growth over the upcoming years positively.

Competitive Landscape:

The prominent players operating in the global pet milk replacers market are Glanbia plc, Calva Products, LLC, Lactalis Group, FrieslandCampina N.V., Alltech, CHS Inc., PetAg, Inc., Nutreco N.V., Archer Daniels Midland Company, and Cargill, Inc., among others. Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the pet milk replacers market.

For instance, in February 2021, Pet-Ag, Inc. launched Goat's Milk Esbilac liquid milk Replacer through its distributor and retailer channel partners. The Goat's Milk Esbilac is made with whole goat's milk protein for puppies with sensitive digestive systems.

In April 2018, Form-A-Feed launched of new calf product range, i.e., Prime Life. The prime life milk replacers are fortified with essential vitamins and minerals for improved calf health.

In March 2019, CHS Inc. acquired West Central Distribution, LLC, a full-service wholesale distributor of agronomy products. The company aims to expand its product portfolio, services, and technologies cooperatives with this acquisition.

Covid-19 Impact: Positive impact on the global pet milk replacers market

The world has witnessed a pandemic of COVID-19, which resulted in a countrywide lockdown in almost every country. The pandemic has led to the restriction on going outside houses. These panic times had propelled the demand for pet milk replacers, full of nutrition, and pets can consume them daily. In addition, during the Covid-19 pandemic, people worldwide adopted pet animals, most preferably responsive animals such as dogs, cats, birds, and others. Adopting pets was attributed to a rise in demand for pet milk replacers, which drove the market growth during the pandemic.