The increasing demand for products derived from dairy producing animals and rising population of dairy herd are driving this market. Also, the rising incidence of diseases in animals is aiding in the growth of this market.
However, factors such as unethical conduct with respect to animals may impact the market of dairy herd management services negatively. Increasing demand for milk and milk products such as cream, butter, and cheese is anticipated to boost the market over the forecast period
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Regionally, the global dairy herd management services market covers North America, Latin America, Europe, East Asia, South Asia, Oceania and the Middle East and Asia. Among these regions, Europe currently leads the market in terms of market share.
Growing contribution of dairy industry, the rising number of dairy cows and increasing dairy exports in developed countries due to increasing consumption of dairy products are bolstering growth in Europe and Asia Pacific.
Increasing per capita income, growing population and government initiatives for the development of dairy farming industry is a major contributor towards the growth of this market.
Rising awareness among consumers will drive dairy herd management services market. In addition to this, the market will benefit from their increasing disposable incomes and consequent willingness to spend on organic food. In developed markets, sales are likely to remain high, aided by the presence of high awareness among consumers. Also, their purchasing power is comparatively high, which will support the growth of the market.
Increasing demand for milk and milk products such as cream, butter, and cheese is anticipated to boost the market over the forecast period. However, the dairy herd management market dynamics are compromised due to the recent coronavirus outbreak.
Amidst this unforeseen chain of incidents that commenced with the outbreak following the implementation of lockdown and various preventive measures, the dairy herd management services market is facing tough days.
Furthermore, consumers are unlikely to exhibit demand as expected during this period due to restricted mobility and scare regarding the spread of the disease. This could result in restrained growth of the market in the near future.
The dairy herd management market is likely to secure a CAGR of 7.9% through 2032.
The dairy herd management market size is estimated to cross USD 9.21 Billion by 2032.
The dairy herd management market is likely to record a value of USD 4.31 Billion in 2022.
North America is likely to lead the dairy herd management market.
The global dairy herd management market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
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Dairy Herd Management Market
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