(PharmaNewsWire.Com, July 30, 2019 ) Growing herd sizes, the rising production & consumption of milk & dairy products, increasing investments in dairy farm development, and technological advancements in management systems have all played a significant role in driving market growth.
The global dairy herd management market is expected to reach USD 3.55 Billion by 2022 from USD 2.42 Billion in 2016 at a CAGR of 6.7% during the forecast period.
Market Dynamics
+ Drivers
+ Increasing Herd Size of Dairy Farms
+ Increasing Production and Consumption of Milk & Dairy Products
+ Technological Advancements
+ Substantial Cost Savings Associated With Dairy Herd Management
+ Rising Investments and Funding Towards the Development of Dairy Farms
The market is segmented into milk harvesting, feeding, breeding, animal comfort & heat stress management, calf management, health management, and other applications (such as genetic management, cattle sorting, weighing, and data analysis). In 2017, the milk harvesting segment is estimated to command the largest share of the dairy herd management market. The focus of farmers towards increasing milk yield while ensuring the heath of the cattle is supporting the growth of the milk harvesting segment.
The market is segmented into small-scale dairy farms, large-scale dairy farms, and cooperative dairy farms. In 2017, small-scale dairy farms are expected to account for the largest share of the market. The growing demand for dairy products and increasing support from various public-private organizations for small-scale dairy farmers in developing countries are the major factors driving the demand for dairy herd management products in this end-user segment.
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