Dairy Herd Management Market size is estimated to be valued at USD 3,073.6 Million in 2021 and is expanded to grow at a significant CAGR of 7.0% over 2022-2028. Consumer awareness will drive the dairy herd management market. Furthermore, the market will receive support from the rising disposable incomes and, as a result, willing to spend on organic food. Sales in developed markets are likely to remain high, supported by increased consumer awareness. Furthermore, their purchasing power is relatively high, which will help market growth. Individualized cow milking frequencies in the herd are now feasible due to the advancement of automated and robotic milking systems. These technological advancements allow for the most efficient use of an individual cow's production potential by focusing on their health, monitoring milk quality, effectively managing farms, increasing productivity, and supervising breeding. These advantages are increasing dairy farmers' interest in technologically advanced herd management products and, as a result, their adoption in the dairy industry. In the Dairy Herd Management Market, by type, the hardware dairy herd management segment has registered the highest market share of 53.7%, which accounted for US$ 1,650.3 Mn in 2021 and is anticipated to grow in the forecast years due to rising awareness among the dairy farmers in the developing countries such as India, China, etc. regarding the benefits of dairy herd management machinery and software solutions which increases the milk production, monitors the cow/buffalo about their feed and other advantages of herd management. Moreover, increasing mechanization in dairy farms due to the absence of labor and growing preference for automated herd management systems coupled with growing demand for dairy products are the major factors driving the market's growth.
Fastest Growing Market
Dairy is evolving from a regulated supply-led market to a demand-driven product. Technological advancements, the increasing herd size of dairy farms, strong demand growth, and improved productivity are also driving the market. High cost & lack of awareness in emerging economies, and advent of alternative dairy products will hinder the market growth.
The Dairy Herd Management Market is projected to expand at a CAGR of 7.0% during the forecast period.
Afimilk Ltd., BouMatic, Dairymaster, Waikato Milking Systems NZ LP, Stellapps Technologies, Sum-It Computer Systems Ltd.
Asia-Pacific is the fastest-growing of Dairy Herd Management Market