PUBLISHER: Grand View Research | PRODUCT CODE: 1529754
PUBLISHER: Grand View Research | PRODUCT CODE: 1529754
The global bovine artificial insemination market size is anticipated to reach USD 4.54 billion by 2030 and is projected to grow at a CAGR of 6.32% from 2024 to 2030, according to a new report by Grand View Research, Inc. The primary market growth is due to the increasing demand for meat, dairy, and dairy products. According to OECD estimates for 2020 to 2029, cow milk accounts for approximately 80% of global milk production. China and India are expected to contribute more than 30% of global milk production by 2029. The OECD estimates that milk, fresh dairy products, butter, and cheese consumption will increase worldwide from 2022 to 2031. For instance, cheese consumption is projected to grow from 25,500 kt pw in 2022 to 28,136 kt pw in 2031.
The milk production in India increased from 187.30 million tons in 2018-2019 to 230.58 million tons in 2022-2023, growing at a CAGR of over 6%, according to the data published by the Press Information Bureau of India in May 2024. These factors are expected to fuel the demand for cattle AI products and services to ensure successful breeding regimes. The AI enables farm owners and ranchers to select the best semen for their cows, resulting in calves with desired traits like increased meat yield or milk production.
The advancements in breeding technology have made AI a more efficient and affordable option for farmers. Semen collected from top-performing bulls and stored for later use enables producers/ranchers to access superior genetics without the need to maintain bulls on their farms or purchase expensive bulls. In addition, governments in several key markets support the adoption of AI as a means of improving livestock productivity.
Improvement in semen processing and preservation techniques enhanced the quality and longevity of bovine semen. Advanced cryopreservation methods, such as the use of liquid nitrogen and extenders, enable the long-term storage & transportation of semen while maintaining high fertility rates. These developments significantly expanded the availability and accessibility of quality semen, promoting the use of AI.
Sexed semen technology allows cattle breeders to control the gender ratio of their calves, catering to specific market demands. Sexed semen technology creates new opportunities for dairy and beef producers by offering greater flexibility in breeding strategies & market specialization. In 2022, Genus plc, one of the key players in the market, reported USD 340.64 million in sales from its bovine genetics division-ABS Global. The company reported an increase of 3% in bovine volume, comprising semen and embryos, to reach around 25 million units. On the other hand, the company's Sexcel and IntelliGen product lines witnessed an 18% surge in volume.
In May 2024, the National Dairy Development Board of India (NDDB) developed a novel technology to produce "Sexed Sorted Semen Straws," intending to increase the chances of conceiving female calves to help boost milk production. The product is similar to a test tube that can store frozen semen, which can be later used for AI, and is manufactured to prevent impure semen from entering the system of the offspring due to natural mating.