Animal Milk Replacer Market to Reach $6.5 Bn, Globally, by 2030 at 4.9% CAGR: AMR

Drivers, restraints, and opportunities

Rise in population and increased standard of living coupled with surge in concerns among people over their baby animals have boosted the growth of the global animal milk replacer market. However, lack of awareness and faith in traditional ways of feeding animals hamper the market growth. On the contrary, increase in pet adoption would unlock new opportunities in the future.

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Covid-19 scenario:

The dairy based segment held the largest share

By type, the dairy based segment held the largest share in 2020, accounting for more than one-third of the global animal milk replacer market, due to the greater availability of raw materials. However, the plant based segment is expected to register the highest CAGR of 6.0% during the forecast period, owing to rising preferences of people toward plant-based food products for their pets and animals globally.

The calf segment dominated the market

By form, the calf segment held the lion's share in 2020, contributing to nearly half of the global animal milk replacer market, owing to rise in production of calf and livestock. However, the puppies segment is estimated to manifest the highest CAGR of 6.0% from 2021 to 2030, due to increase in adoption rate of puppies in Asia-Pacific and Latin America.

Asia-Pacific held the largest share

By region, the global animal milk replacer market across Asia-Pacific dominated in 2021, holding more than two-fifths of the market. In addition, the region is projected to portray the highest CAGR of 6.0% during the forecast period, owing to increasing urbanization and rising investment of manufacturers in the region, owing to rise in concerns of pet owners over their nutritional diet and advanced technologies adopted by manufacturers in the region.

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Major market players

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