This report aims to provide detailed insights into the global Dairy Herd Management Market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=36572220
Global Dairy Herd Management Market Dynamics
DRIVER: Growing herd size of dairy farms
Globally, the herd size of dairy farms has increased significantly over the years. According to the OECD-FAO Agricultural Outlook 2019-2028, compared to the previous decade, the estimated growth of cowherds is 1.2% per annum and is higher than the estimated average yield growth (0.4%) as cowherds are projected to grow faster in countries with low yields.
RESTRAINT: Ongoing campaigns to restrict unethical practices in the dairy industry
Over the last few years, dairy cows have increased globally in line with the rising demand for milk and dairy products. However, with a major focus on increasing dairy cattle production, these animals are subjected to a constant cycle of pregnancy and birth, thus affecting their health. To save dairy animals from such unlawful practices, several campaigns have been initiated across various regions. Such ongoing campaigns and government initiatives targeting large-scale factory dairy farming practices are creating hurdles for small/medium-sized dairy farms to increase their scale of operations. This, in turn, is limiting the adoption of dairy herd management products.
OPPORTUNITY: Growth opportunities in emerging economies
The adoption of dairy herd management products or technology in developing countries is slow, primarily due to high installation costs and low awareness among farmers. However, growing demand for milk and dairy products, increasing per capita income of farmers in developing countries, rising herd size, and growing focus of governments on livestock farming and agricultural sector are expected to increase the demand for advanced dairy herd management solutions in developing countries in the coming years. Considering this, emerging markets such as India, China, Turkey, and other developing countries are expected to offer significant opportunities to key players operating in the dairy herd management market.
CHALLENGE: Dearth of trained dairy professional
With a decrease in the number of dairy farms and an increase in herd size globally, dairy farmers are increasingly opting for technologically advanced dairy herd management products over traditional tools for managing large dairy herds. Dairy herd management products are used in almost all functional aspects of modern dairy farms, such as animal comfort, calf management, feeding management, heat stress management, milk harvesting, and reproduction management. The smooth flow of these procedures requires great precision and skilled, trained professionals who can understand and operate dairy herd management systems efficiently.
COVID-19 impact on the dairy herd management market
Globally, the outbreak of COVID-19 has caused significant disruptions to businesses and economic activities across the world, including the dairy market. Due to the pandemic, the demand for ‘out of home’ dairy products has reduced significantly, misbalanced supply and demand, and negatively impacted global farmgate milk prices. Additionally, the profitability of dairy farms is reduced due to the increased feed costs, which are likely to last till the first half of 2021. Still, a recovery is expected during the second half of this year.
Due to the pandemic and the movement restrictions associated with it, the labor-intensive dairy industry has faced a production shortage as the majority of tasks in animal farms are performed by skilled laborers. This has hampered the supply of laborers in farms and processing plants and milk transportation.
Expected Revenue Growth: The global dairy herd management market is projected to reach USD 5.4 billion by 2026 from USD 3.7 billion in 2021, at a CAGR of 7.9% during the forecast period. The increasing herd size of dairy farms and growing consumption of milk and dairy products are the primary growth drivers for the dairy herd management market. Increasing public-private funding and investments in dairy farming and technological advancements are further aiding the market growth. On the other hand, ongoing campaigns to save dairy animals from unethical herd management practices are expected to restrain the growth of this market during the forecast period. Along with this, the shortage of trained dairy professionals is further expected to challenge the growth of this market. The dairy herd management market is segmented based on product, application, farm size and region.
Request Sample Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=36572220
Key Market Players
The prominent players operating in this market include DeLaval Inc. (Sweden), Merck Co., Inc. (US), GEA Group Aktiengesellschaft (Germany), BouMatic (US), and Afimilk Ltd. (Israel).
