The report "Dairy Herd Management Market by Product (Automated Systems (Milking, Feeding/Nutrition Management), Software (Cloud based, AI, Data Analytics)), Application (Breeding, Calf Management, Feeding,), Farm Size (Large, Medium, Small) - Global Forecast to 2026", The global dairy herd management market is projected to 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, increasing public-private funding and investments in dairy farming and technological advancements are the major factors driving the growth of the dairy herd management market.
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The global dairy herd management market is consolidated. 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).
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.
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The automated dairy management systems segment is expected to grow at the highest CAGR during the forecast period in 2020.
Based on product, the dairy herd management market is segmented into automated systems and software. Automated dairy management systems accounted for the largest share of the dairy herd management market in 2020. The large share of the automated systems segment is attributed to the increasing preference for automated systems due to their cost and labor efficiency.
Europe was the largest regional market for the dairy herd management market in 2020
The dairy herd management market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of World. Europe dominated the global dairy herd management market, followed by North America. The large share of the European market can be attributed to a well-established dairy herd management industry, significant funding for research in dairy herd management, increasing herd size of dairy farms, rapid technological adoption in dairy farms, and the high cost of labor.
However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. The increasing demand for milk & milk products due to the rising population, growing disposable incomes, rapid urbanization, and implementation of government initiatives for the development of the dairy farming industry are the major factors driving the growth of the dairy herd management market in the Asia Pacific.
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