Global Dairy Herd Management Market Size Anticipated to Achieve US $6.83 Billion By 2032, at 7.1% CAGR, According to Polaris Market Research
NEW YORK, Nov. 22, 2023 /PRNewswire/ -- A latest research report [110+] pages with 360-Degree visibility, titled "Dairy Herd Management Market Share, Size, Trends, Industry Analysis Report, By Type; By End-use (Small-scale, Large-scale, Cooperative Farms); By Region, And Segment Forecasts, 2023 - 2032" published by Polaris Market Research in its research repository.
According to Polaris Market Research latest [115+ Pages] research report, the global dairy herd management market size and share is predicted to grow from USD 3.43 billion in 2022 to USD 6.83 billion in 2032. It is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 7.1% from 2023 to 2032, according to the latest report by Polaris Market Research.
What is Dairy Herd Management? How Big is Dairy Herd Management Market Size?
- A Quick Report Review
The methodical and thorough approach to managing a dairy herd's health, procreation, and productivity is known as dairy herd management. For dairy farms to sustain long-term high output, it is a crucial component. They must effectively oversee the feeding, comfort, reproduction, and milking of cows, among other critical considerations.
Furthermore, by increasing reproductive efficiency, maintaining herd health, and optimizing milk output, dairy herd management plays a critical role in guaranteeing the sustainability and profitability of dairy farming operations, boosting the dairy herd management market demand. To efficiently manage the herd and satisfy the expectations of the dairy sector, a mix of knowledge, skills, and attention to detail is needed.
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Who are the emerging companies in the global industry?
- Alta Genetics Inc.
- DeLaval
- GEA Group Aktiengesellschaft
- Lely
- Afimilk Ltd.
- BouMatic
- Herdlync
- Dun & Bradstreet, Inc.
- SUM-IT
- VAS
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Key Highlights from the Report:
- It is anticipated that there will be a rise in demand for milk and its derivatives, including butter, cream, and cheese, which will propel market expansion.
- The technological advancements in monitoring livestock are playing a significant role in driving the market growth.
- The dairy herd management market segmentation is mainly based on end use, type, and region.
- Europe has dominated the market with the largest share in 2022.
Dairy Herd Management Market Global Scope & Outlook
Report Attributes | Details |
Market value in 2023 | USD 3.67 Billion |
Market value in 2032 | USD 6.83 Billion |
CAGR | 7.1% from 2023 ? 2032 |
Base year | 2022 |
Historical data | 2019-2021 |
Forecast period | 2023-2032 |
Market's Prime Determinants of Growth, Trends, and Opportunities
Growth Drivers
- Technological Advancements: The dairy herd management market size has grown significantly due to the large part of livestock monitoring technology. Farmers can now more accurately and easily monitor the behavior, health, and productivity of individual cows or the whole herd in real time by utilizing RFID tags, modern sensors, and data analytics. With the aid of this technology, infections may be detected early, breeding and feeding methods can be optimized, and overall herd management can be improved.
- Efficiency and Profitability: Dairy farmers may now measure their output and make ongoing adjustments to livestock behavior and farm operations by implementing data-driven processes. This increases the profitability and efficiency of farms.
Trends and Opportunities
- Rising Popularity: The dairy business is seeing a greater transition toward automation and sophisticated animal management, which is shown in the growing popularity of herd management. Taking advantage of this trend, dairy businesses are improving herd management for a variety of cattle and livestock applications. In the upcoming years, automated milking parlors, robots, micro-sensor technology, and smartphone apps for data analysis are anticipated to become commonplace on dairy farms, expanding the dairy herd management market growth.
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Segmental Analysis
- Milk Management Systems Sector Accounts for the Largest Share
In the dairy businesses, the milk management systems sector holds the largest share. This is due to the labor-intensive nature of milking cows and the fact that the amount of labor needed has been greatly decreased with the adoption of milk management technologies. Therefore, more advancements can be made by automating and replacing some of the operator's activities, which will make their work more effective and less physically taxing. Increasing the number of milking units in a larger dairy can boost productivity.
Moreover, breeding management is also anticipated to expand at a quick rate. This sector of the dairy herd management market is quite important. It is specifically made to make dairy herd reproduction more efficient. This allows farmers to monitor fertility, supervise breeding cycles, and promote genetic selection for higher milk yield and better herd health.
- Large Scale Dairy Farms Sector Holds the Largest Share
The largest proportion is held by large-scale dairy farms in the industry. This is because of the fact that these farms can afford to purchase dairy herd management software, which raises revenue. On the other hand, small-scale farms frequently experience financial losses because their production value is insufficient to pay for all expenses, including the owners' time and capital investments.
Furthermore, dairy herd management technologies used by cooperative farms have the potential to reduce production costs for individual farms and help them reach economies of scale, which will accelerate their growth. They can then compete with larger farms on price by passing this cost decrease on to customers.
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Regional Insights
Which Country has the Largest Dairy Herd?
Europe: Due to the increased understanding of the advantages of automation among dairy farm owners in the region, Europe has dominated the dairy herd management market. The adoption of milk and nutrition management systems in the European dairy industry has significantly increased as a result of this knowledge.
Asia Pacific: It is anticipated that the Asia Pacific region will grow rapidly due to government measures that include financial support for automation technologies. Farmers are becoming more conscious of the productivity and efficiency boosts that come with implementing advanced dairy farm automation systems.
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Key Questions Answered in the Report
- What is the current and expected dairy herd management market value?
- At what CAGR is the market expected to grow during the forecast period?
- Which factors are driving the market growth?
- What are the key market trends and opportunities?
- Which segment accounts for the largest dairy herd management market share?
- Who are the prominent players in the industry?
About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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