Dairy Herd Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2021 - 2031
Dairy Herd Management Market – Overview
The growth in the dairy herd management market has been owing to numerous factors. The market growth is generally attributed to the increasing size of the herd on the dairy farms. Along with this, the rising consumption of milk, as well as dairy products, has also been serving as one of the vital factors to boost growth impetuses in the global market in the coming years.
There has been a noteworthy increase in the funding from public-private sectors and growing investment in dairy farming. Further, technological advancements are also contributing to the growth impetuses in the global market.
On the flip side, there are numerous campaigns are conducted in order to save dairy animals from unethical herd management practices. Furthermore, the shortage of trained dairy professionals has also been estimated to restrict the growth avenues in the dairy herd management market in the near future.
Dairy Herd Management Market – Key Drivers
The size of the herd of the dairy farms has increased during the past few years which is also fueling growth opportunities in the global market in the upcoming years. Dairy cows have also increased in number with the growing demand for dairy products and milk. However, the manufacturers are concentrating to increase dairy cattle production and these animals have been the subject of the constant cycle of pregnancy and birth that put an impact on their health.
In order to save the dairy animals from unlawful practices, numerous campaigns are initiated around the regions. Further, the government initiatives and ongoing campaigns are targeting farming practices that are conducted at a large-scale and creating hurdles for the small as well as medium-sized dairy farms in order to increase their operations. These factors are further estimated to limit the adoption of the services from the dairy herd management market.
Dairy Herd Management Market – Recent Developments and Key Players
The dairy herd management market is marked by the presence of major players that are operating in the region as well as on global platforms. So, based on their presence, the market nature is becoming fragmented. Further, these industry players have also been focusing in order to incorporating novel growth strategies for the achievement of their desired objectives. In addition to these factors, increasing penetration of the global players along with growing awareness among consumers about industry brands is creating growth avenues in the global market. Launching of novel industry players, product portfolio expansion, mergers or tie-up, and growing R & D activities for the enhancement of the company portfolio are applied by prominent market players around the world.
For instance, Merck & Co. Inc. has entered into an agreement with New Zealand based company named LIC Automation Ltd. in 2021. The aim of the agreement is to strengthen portfolio of Merck & Co. Inc. along with increasing its consumer base. Further, LICA manufactures and supplies integrated and specialized herd management systems as well as milk-testing sensors for dairy industry.
Some of the key players in the dairy herd management market are:
Dairy Herd Management Market – Regional Assessment
The dairy herd management market has been operating in numerous regions around the world, and the prominent regions are North America, Asia Pacific, Europe, and the Rest of the World. Out of these major global areas, Europe has been estimated to hold a dominating position in the global market. This market dominance has been attributed to the significant funding for R & D activities in dairy herd management and the well-established industry of dairy herd management. Along with this, the high cost of labor, rapid technological adoption in the dairy farms, and growing size of the herd in the dairy farms are also contributing to the growth impetuses in the regional dairy herd management market.
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