Dairy Herd Management Market: Opportunities & Challenges

Posted on 2019-11-12 by MarketsandMarkets in Agriculture, Food & Beverage, Healthcare, Marketing, Pharmaceuticals // 0 Comments

CITY, Country, 2019-Nov-12 — /EPR Network/ —

The global dairy herd management market is projected to reach USD 3.55 billion by 2022 from USD 2.57 billion in 2017, at a CAGR of 6.7% from 2017 to 2022. Growth in the dairy herd management market is driven by the increasing herd size of dairy farms, rising consumption and production of milk and dairy products, technological advancements, substantial cost savings associated with dairy herd management, and rising investments and funding towards the development of dairy farms. On the other hand, the dearth of trained dairy professionals and ongoing campaigns to save dairy animals from unethical herd management practices are expected to restrain the growth of this market during the forecast period.

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What are the opportunities in emerging markets?

The increasing demand for milk and dairy products along with the rapidly growing population, growing GDP, increasing herd size, and growing focus on the farming and agricultural sector, are increasing the demand for dairy herd management products in developing countries. Considering this, emerging markets, such as India, China, and Turkey are expected to offer significant growth opportunities to key players operating in the dairy herd management market.

The rising population base, especially in India and China, will offer a sustainable market for dairy herd management products. According to the United Nations (UN), in 2015, China and India had a population base of 1.38 billion and 1.31 billion, respectively; these figures are expected to reach 1.45 billion and 1.53 billion by 2030.

To leverage the high-growth opportunities for dairy herd management products in these markets, key market players are undertaking strategic initiatives, such as expansions, acquisitions, conducting training programs, and entering into agreements/partnerships with regional/domestic players.

How trade barriers are posing challenges?

The dairy industry is one of the most regulated industries in the developed countries. Regulations control the quantity and quality of dairy products and help in establishing minimum prices and parameters for their storage and supply. Various trade barriers and government programs are prohibiting countries from establishing trade in regulated markets. These barriers are preventing multilateral and bilateral trade negotiations from progressing, thus decreasing export opportunities and impeding the growth of the dairy industry.

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The USDA has imposed extensive regulatory controls on agricultural markets to promote safety and reduce the incidence of diseases. In September 2008, the Government of India prohibited the import of milk and milk products from China, due to some issues with milk (containing melamine, a deadly chemical); this prohibition was extended for one more year in June 2015 (source: Directorate General of Foreign Trade). As compared to developed countries, developing countries in the APAC region impose high import duties and sales tax on dry milk, which is creating trade barriers among APAC countries. The Indian government imposes a 10% import duty on the purchase of dry milk, whereas, developed EU countries impose 1.7% import duty. Likewise, other emerging countries, such as China, Vietnam, and Pakistan impose relatively high import duties (6%, 15%, and 20%, respectively) on dry milk (source: Pitney Bowes Inc.). The high import duty increases the cost of dry milk imported from foreign countries, which in turn reduces its affordability and consumption among customers.

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