Dairy Herd Management Market: Key Trends and Forecast Report 2024-2033

Global dairy herd management market size is expected to reach $6.19 Bn by 2028 at a rate of 8.4%, segmented as by product type, hardware, standalone software, other products

Aug 19, 2024 - 15:30

Dairy Herd Management Market: Key Trends and Forecast Report 2024-2033

Overview and Scope

Dairy herd management refers to the comprehensive oversight and optimization of activities related to dairy farming, encompassing aspects such as animal health, milk production, and farm operations. It involves using advanced technologies and data-driven approaches to enhance efficiency and productivity in dairy operations.

Sizing and Forecast

The dairy herd management market size has grown strongly in recent years. It will grow from $4.11 billion in 2023 to $4.48 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to growing herd size of dairy farms, rising demand for dairy products, growing herd size of dairy farms and growing production and consumption of milk and dairy products, increasing demand for dairy products, and environmental sustainability.

The dairy herd management market size is expected to see strong growth in the next few years. It will grow to $6.19 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to Growth opportunities in emerging economies, growth opportunities in developing nations, rising investments and funding toward the development of dairy farms, focus on animal welfare, and globalization of dairy industry. Major trends in the forecast period include dearth of trained dairy professional, technological advancements, automation and robotics, remote sensing technologies, and predictive analytics.

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Segmentation & Regional Insights

The dairy herd management market covered in this report is segmented –

1) By Product Type: Hardware, Standalone Software, Other Products

2) By Application: Milk Harvesting, Feeding, Breeding, Cow Comfort And Heat Stress Management, Calf Management, Health Management, Other Applications

3) By End-User: Small-scale Dairy Farms, Large-scale Dairy Farms, Co-operative Dairy Farms

North America was the largest region in the dairy herd management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the dairy herd management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

Increasing dairy farm productivity is expected to propel the growth of the dairy herd management market going forward. Dairy farm productivity refers to the efficiency and output of milk production a dairy farm achieves. Dairy herd management systems empower users with the tools and information to optimize herd health, reproductive efficiency, feed management, and overall farm productivity. For instance, according to the Bureau of Agricultural and Resource Economics and Sciences (ABARES), a federal research branch of the Australian Government Department of Agriculture, Water, and Environment, in 2022-2023, the dairy industry in Australia achieved a record-high in farm cash revenue, with an average of $361,000 per farm, representing a 10% increase from the previous year. Therefore, increasing dairy farm productivity is driving the growth of the dairy herd management market.

Key Industry Players

Major companies operating in the dairy herd management market are Merck and Co. Inc., DeLaval Inc., GEA Group Aktiengesellschaft, Pearson International LLC, Dun & Bradstreet Inc., Nedap NV, Fullwood Packo, Trioliet, Dairy Master Inc., BouMatic LLC, Alta Genetics Inc., SCR Dairy Inc., Waikato Milking Systems, Afimilk Agricultural Cooperative Ltd, Milkline, Valley Agriculture Inc., Herdwatch, Mesoblast Ltd, Farmtec, SUM-IT, FarmWizard, FBS Systems Inc., Infovet S.R.L., Lely Holdings (S.A.R.L.)

The dairy herd management market report table of contents includes: