The Latin America dairy herd management market size is expected to reach 0.52 billion in 2024 and reach USD 0.76 billion by 2029, growing at a CAGR of 8.02% from 2024 to 2029.
Dairy herd management is a process that regulates the productivity and health of dairy animals. Growth in herd size and demand for milk and other dairy products in different regions are the major factors that drive the market growth. Moreover, dairy herd management is a cost-saving process that implements smart farming techniques. Furthermore, an increase in government initiatives toward dairy herd management in developing countries is among the key driving factors for the global dairy herd management market. Be that as it may, factors such as campaigns against unethical practices with animals and a lack of professionals trained in dairy management hinder the market growth.
The dairy herd management market is expected to witness strong growth in the coming years due to an increase in consumers' demand for dairy products. Increased labor cost coupled with cost benefits associated with automated dairy cattle management techniques is expected to augment the market growth over the forecast period. A shift from traditional and manual herd management systems to dairy herd management systems due to their cost-benefit is further expected to drive the market. Increasing annual milk production across the globe is further expected to boost the market demand over the forecast period. Technological advancement in software used in dairy herd management systems is one of the key factors driving the market over the past few years. An increase in the population is further anticipated to boost milk product demand, which in turn will lead to the expansion of the herd management market over the forecast period. Nevertheless, low adoption rates of dairy herd management in developing countries are expected to hinder market growth over the next seven years. In addition, trade barriers coupled with stringent government regulations are expected to hamper the market growth.
Hardware systems accounted held the largest share in this market segment due to an increase in the demand for milk management systems. Standalone software systems are projected to register the highest growth rate due to technological advancements in automated milking systems which will further help in reducing the overall cost of dairy production.
The milk harvesting segment is anticipated to account for the largest share of the market in 2016. Factors such as growing preference for automated milk harvesting systems, the high focus of farmers towards increasing milk yield, and growing demand for dairy products are driving the market growth in this application segment. The reproduction management segment is projected to register the highest CAGR due to an increase in the availability of innovative reproductive technologies such as artificial insemination (AI) for proper management of cattle in the gestation period.
Latin America Dairy Herd Management Market geographical segmentation by Argentina, Brazil and Mexico. The growth in this region can be attributed to an increase in the demand for milk and milk products as a result of the growth in the population, growth in the disposable incomes, rapid urbanization, and implementation of government initiatives towards the development of the dairy farming industry.
The major Latin America Dairy Herd Management Market leaders are Afimilk Ltd., BouMatic, Dairy Master, DeLaval, GEA Group AG, Infovet, Lely Holdings S.A.R.L, SCR Dairy Inc., Sum-It Computer Systems, Ltd, and Valley Agriculture Software.
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