Liquid Milk Replacers Market was valued at USD 3.5 Billion in 2022 and is projected to reach USD 6.5 Billion by 2030, growing at a CAGR of 8.5% from 2024 to 2030.
The liquid milk replacers (LMRs) market has experienced significant shifts from 2018 to 2022, reflecting a diverse range of factors such as consumer preferences, innovations in the food industry, and changes in dietary trends. The demand for LMRs was largely driven by an increasing shift towards plant-based diets, which accelerated as consumers sought alternatives to traditional dairy. In particular, the rise of veganism, lactose intolerance awareness, and the environmental concerns surrounding dairy production played a major role in expanding the market for liquid milk substitutes during this period. Additionally, advancements in food technology allowed for the development of LMRs that closely mimic the taste, texture, and nutritional value of cow’s milk, further boosting the market’s growth.
Looking ahead to the period from 2023 to 2033, the LMRs market is expected to undergo a continued transformation, with demand increasing as more consumers adopt plant-based diets, particularly in the wake of the COVID-19 pandemic. As consumers become more health-conscious, they are increasingly drawn to plant-based beverages like almond, soy, and oat milk, driven by their perceived health benefits, environmental sustainability, and ethical concerns regarding animal welfare. In addition to these social shifts, market demand will also be influenced by evolving regulatory frameworks and greater availability of LMRs in regions that were traditionally less receptive to these alternatives, such as developing countries in Africa and Asia. It is predicted that by 2030, the global LMRs market will see double-digit growth, with new product innovations catering to an expanding base of consumers who are looking for plant-based, dairy-free options.
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Cargill
Archer Daniels Midland
CHS
Land Olakes
Liprovit
Glanbia
Nutreco
Lactalis
Calva Products
PetAg
Nukamel
Calva Products
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Liquid Milk Replacers Market
Calf
Lamb
Piglet
Other
Based on Types the Market is categorized into Below types that held the largest Liquid Milk Replacers market share In 2023.
Whey Based
Skim Based
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Liquid Milk Replacers Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Liquid Milk Replacers Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Liquid Milk Replacers Market, By Type
6. Global Liquid Milk Replacers Market, By Application
7. Global Liquid Milk Replacers Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Liquid Milk Replacers Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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