The increasing herd size of dairy farms and growing consumption of milk and dairy products are the primary growth drivers for the dairy herd management market. Increasing public-private funding and investments in dairy farming and technological advancements are further aiding the market growth.
On the other hand, ongoing campaigns to save dairy animals from unethical herd management practices are expected to restrain the growth of this market during the forecast period. Along with this, the shortage of trained dairy professionals is further expected to challenge the growth of this market. The dairy herd management market is segmented based on product, application, farm size and region.
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Due to the pandemic and the movement restrictions associated with it, the labor-intensive dairy industry has faced a production shortage as the majority of tasks in animal farms are performed by skilled laborers. This has hampered the supply of laborers in farms and processing plants and milk transportation.
Due to the pandemic, the demand for ‘out of home’ dairy products has reduced significantly, misbalanced supply and demand, and negatively impacted global farmgate milk prices.
Increase the demand for advanced dairy herd management solutions in developing countries in the coming years. Considering this, emerging markets such as India, China, Turkey, and other developing countries are expected to offer significant opportunities to key players operating in the dairy herd management market.
Dairy herd management products are used in almost all functional aspects of modern dairy farms, such as animal comfort, calf management, feeding management, heat stress management, milk harvesting, and reproduction management.
Globally, the herd size of dairy farms has increased significantly over the years. According to the OECD-FAO Agricultural Outlook 2019-2028, compared to the previous decade, the estimated growth of cowherds is 1.2% per annum and is higher than the estimated average yield growth (0.4%) as cowherds are projected to grow faster in countries with low yields.