PUBLISHER: Grand View Research | PRODUCT CODE: 1571802
PUBLISHER: Grand View Research | PRODUCT CODE: 1571802
The India bovine artificial insemination market size is expected to reach USD 785.03 million by 2030, and it is projected to grow at a CAGR of 8.94% from 2024 to 2030, according to a new report by Grand View Research, Inc. The primary driver of this market growth is the increasing efforts from the government to boost the production of milk in the country.
According to a March 2024 article published by The Hindu, Meenesh Shah, chairman of the National Dairy Development Board of India (NDDB), discussed the government's aim to contribute more than 30% by 2030. To achieve this, the authorities are working actively to increase the bovine population's productivity by focusing on areas like breeding, nutrition, and animal health.
One of the approaches being used by the authorities in this regard is the structurization of dairy production across the country. Currently, despite the widespread penetration of dairy production and overall artificial insemination use, the sector is largely disorganized. According to a September 2024 article from the Financial Express, authorities like NDDB are formulating a novel and improvised cooperative model for the country's dairy sector. This model aims at providing government assistance to struggling cooperatives and also bringing in more and more farmers under the umbrella of the government. One of the methods that NDDB uses is taking over the functioning of a struggling dairy cooperative from a state for a limited amount of time, and example, taking over Mahananda Cooperative Dairy in Maharashtra and Sreeja Cooperative Dairy in Uttar Pradesh by the NDDB.
Furthermore, the authorities in the country are also partnering with banks across the country in order to revive the struggling dairy sector agencies across the country. For example, in May 2024, NDDB signed a MoU with the Punjab National Bank (PNB) for the development of comprehensive dairy infrastructure. Under this partnership, the NDDB and PNB will provide financial aid to the beneficiary organizations (BOs) in the cooperative sector, such as milk unions/federations, multi-state cooperatives, producer-owned institutions like producer companies, and NDDB's subsidiary companies.
Another crucial driver fueling the market growth is the increasing digitization of AI services in the country. Leading players in the dairy sectors are increasingly digitizing the processes for both, themselves as well as the farmers. For example, starting 2020, Amul launched India's first artificial insemination digital platform for their customers.
By making dairy infrastructure more accessible and efficient, government support for financially troubled cooperatives, collaborations with banks, and the restructuring of dairy production will propel the market growth in India. The market growth will be further enhanced by the digitization of AI services, which will offer dairy players and farmers creative solutions. Artificial insemination will become more widely used as a result, improving cattle productivity and breeding. With everything taken into account, these variables will support the expansion and modernization of India's bovine artificial insemination industry.