New York, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Consumption of calf milk replacers in the European market in 2022 stands at 732,864 tons and is expected to reach 1,056,173 tons by 2032, registering a CAGR of 3.7%.
Calf milk replacers are steadily becoming popular with substantial research to back their benefits in calf rearing. The nutrition requirements of calves can be fulfilled by calf milk replacers, which are obtained as a by-product of the dairy industry. Milk waste like whey from cheese processing, which is not consumed by humans, can act as suitable feed for animals. Dairy-based replacers hold a majority of the market share in Europe.
Rapid urbanization in developing areas coupled with the steadily increasing demand for more food resources has resulted in the growth of this industry all across Europe. The effort to obtain the maximum yield with optimized inputs is a key factor that has resulted in the growing calf milk replacer market in the European region.
“The market is expected to witness high demand in the agricultural sector and regions where animal husbandry is prominent,” says a Persistence Market Research Analyst.
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Key Takeaways from Market Study
- Demand for calf milk replacers in the European market is expected to increase at a volume CAGR of 3.7% during the forecast period (2022-2032).
- Russia and Germany account for 13.1% and 13% market shares, respectively.
- Utilization of dairy-based calf milk replacers is anticipated to reach US$ 2.17 Bn by 2032.
- Based on form, consumption of powdered calf milk replacers is expected to increase at a CAGR of 4.2% and hold 95.2% market share by 2032.
- The market in France is likely to exhibit a volumetric CAGR of 3.3%. This is due to the cheese industry being prominent in the country, resulting in higher milk by-product generation.
The increasing global population requires a significant boost in food resource production. Increasing milk production is essential as it happens to be a good source of protein and calcium, among other essential nutrients that impact development in children as well as adults. It becomes essential to make sure that calves are provided with optimum nutrition so that they can reach maturation faster and produce more amounts of milk as compared to cattle that have not been treated with milk replacers.
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Competitive Landscape
Companies involved in the manufacturing of calf milk replacers are constantly trying to optimize their processes and incorporate the latest technologies to gain an advantage in this highly competitive industry. This involves being abreast of advancements in the field of animal husbandry so as to have an edge over their counterparts. Providing high quality products to consumers requires constant efforts, which can be seen through the capital investments made by leaders in the market.
- Archer Daniels Midland Company constantly focuses on developing innovative products and applications by optimizing the use of raw materials to serve its customers in the animal nutrition industry. The company has set up a global network of research and development centers, including 13 applied research facilities in each key operating country.
- VanDrie Group utilizes its proprietary safety guard quality system to ensure feed and food safety during every interval in the manufacturing value chain. This strategy enables the company to guarantee that its products are produced in a high-quality, safe, and reliable manner.
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Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the calf milk replacer market in Europe, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights on the basis of form (powder, liquid), source (dairy-based, non-dairy-based), and type (medicated, non-medicated), across the European region.
For additional insights on how the growth of the Europe calf milk replacer market will shape up over the decade, write to media@persistencemarketresearch.com
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