DUBLIN--(BUSINESS WIRE)--The "Global 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) - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
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.
Automated dairy management systems segment is expected to dominate the market during the forecast period
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.
Milk harvesting segment to dominate the market during the forecast period
Based on application, the dairy herd management market is categorized into milk harvesting, feeding, breeding, cow comfort and heat stress management, calf management, health management, and other applications (such as genetic management, cattle sorting, and weighing).
The milk harvesting segment held the largest share in 2020. The large share is attributed to the increasing preference for automated milk harvesting systems, high focus of farmers on increasing milk yield, and the growing demand for dairy products.
Large-scale dairy farms segment to dominate the market during the forecast period
Based on farm size, the dairy herd management market is categorized into small-scale, medium-scale, and large-scale dairy farms. The large-scale dairy farms segment is expected to hold the majority of market share and have the highest growth rate.
Large farms are capital-intensive but provide economies of scale to farm owners, thus making it feasible for them to use expensive technology such as milking robots or precision feeding systems.
Europe will dominate the market during the forecast period
The global dairy herd management market is segmented into North America (the US and Canada), Europe (Germany, the UK, France, Netherlands, and the Rest of Europe), Asia Pacific (Japan, China, India, New Zealand & Australia, and the Rest of Asia Pacific), and the Rest of World. In 2020, 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.
Market Dynamics
Drivers
- The growing herd size of dairy farms
- Increasing production and consumption of milk & dairy products
- Substantial cost savings associated with dairy herd management products
- Rising funding investments towards the development of dairy farms
Restraints
- Ongoing campaigns to restrict unethical practices in the dairy industry
Opportunities
- Growth opportunities in emerging economies
- Rapid urbanization
- Challenges
Trade barriers
- Negative environmental impact
- Dearth of trained dairy professionals
Companies Mentioned
- AB Agri Ltd
- Afimilk Ltd.
- Boumatic
- Cainthus
- Connecterra B.V.
- Cowmanager
- Dairymaster
- Delaval Inc.
- Fullwood Packo
- GEA Group Aktiengesellschaft
- Halo Systems
- Hokofarm Group
- Icerobotics Ltd
- Lely
- Merck & Co., Inc.
- Milkplan
- Mirobot
- Moocall
- Nedap Livestock Management
- Pearson International Llc
- Pellon Group
- Sum-It
- VAS (Valley Agriculture Software)
- Vansun Technologies Private Limited
- Waikato Milking Systems NZ LP
For more information about this report visit https://www.researchandmarkets.com/r/y8dmo8
