According to a new market study by Future Market Insights (FMI), the global dairy herd management market is forecasted to witness healthy growth in terms of value between 2020 and 2030.
The study attributes the growth of the market to the ever-increasing consumption of dairy products coupled with the rising number of dairy cattle across the world. To ensure that the products derived from dairy-producing animals retain superior quality while also maintaining a consistent quantity of production, an increasing number of dairy farmers are seeking dairy herd management systems.
The consumption of milk and milk products such as cream, butter, and cheese has remained high over the years and continues to rise in volume annually. Leveraging the opportunity, dairy farmers are leaving no stone unturned to attain high quality and quantity of products derived. This will continue to complement the adoption of dairy herd management solutions for the years to come.
Furthermore, the increasing incidence of diseases in animals and growing awareness among dairy farmers regarding the availability of advanced tools are aiding the growth of the market.
“Being highly reliant on macroeconomic factors such as growing population, favorable regulatory policies, and increased consumer spending on food, the dairy herd management market is set for robust growth through 2030” opines FMI analyst.
Dairy Herd Management Market – Key Takeaways
- The global dairy herd management market is forecasted to progress at a CAGR of 6.3% and will surpass a valuation of US$ 5.6 Bn by the end of 2030.
- By product type, milk management systems are forecasted to account for the majority of market share since milking is one of the most important operations in the dairy sector.
- Based on applications, milk harvesting and feeding are projected to collectively capture the majority of market share backed by a growing preference for automated milk harvesting systems to ease the process.
- On the basis of end-users, small scale farms are anticipated to channel the majority of revenue share ascribed to growing adoption in order to improve the overall productivity.
Dairy Herd Management Market – Key Trends
- Increased levels of disposable incomes and subsequent spending on organic food has enabled market players to enhance the technology used in farming operations, thus bolstering the adoption of dairy herd management systems.
- The advent of automation technologies has facilitated the development of advanced systems, which in turn, is mutually aiding manufacturers and end-users.
Dairy Herd Management Market – Regional Analysis
- Europe is projected to spearhead the regional landscape on the back of a strong presence of the dairy industry and the high consumption of dairy products in the region.
- North America and Asia will cumulatively account for a remarkable share in the overall market value ascribed to rising spending by dairy farmers to upscale production efficiencies.
- Dairy Herd Management Market – Competitive Landscape
Key players operating in the market include Alta Genetics Inc.; Dairymaster; Delaval Inc., Afimilk; BouMatic LLC, Fullwood Packo, GEA Group Aktiengesellschaft Lely, SCR Dairy Inc., Sum-it Computer Systems, Valley Agricultural Software, and Zoetis. Market players are focusing on entering strategic partnerships and maintaining competitive pricing to gain a competitive edge.
Source: Stockhouse Press Release