Sales of milking machines surge
A study by Fact.MR predicts that milking machines will see rising demand in the foreseeable future, as farmers look to improve business profitability with cost-competitive and tech-driven dairy farming.
More than 10,000 units were bought in 2018, and are estimated to see a 7% growth in 2019 and a CAGR of 8% through 2027. While price volatility in the industry shows no sign of abating, global milk production has been rising and farmers are adopting new technologies to stay ahead of the curve.
The study showed that the demand for cow milk is steadily exceeding the global supply, and eventually milking machines will replace labour-intensive operations in cow milk businesses. Manufacturers in the milking machine industry are increasingly focusing on small-scale businesses that are engaged in cow milk production, as local dairy businesses are primary suppliers to households in most developing countries.
Europe was the most lucrative market for milking machines, accounting for over 30% sales. However, Asia Pacific Excluding Japan (APEJ) is expected to emerge as an attractive region for stakeholders, with the rapid growth of the dairy industry in the region. It is highly likely that gains from milking machine sales in the APEJ will outpace those from the European Union (EU), alongside the rapid surge in milk production.
There is growing demand for fully automatic variants, offering time-effective, enhanced production for dairy farmers. Milking multiple animals in one go increases efficiency while reducing the dependency on labour and leads to quality improvement.