Bovine Artificial Insemination Market Size Is Anticipated To Reach USD 4.54 Billion By 2030

 San Francisco, 21 Aug 2023: The Report Bovine Artificial Insemination Market Size, Share & Trends Analysis Report By Solutions (Equipment & Consumables, Semen, Services), By Sector (Meat, Dairy), By Distribution Channel (Private, Public), By Region, And Segment Forecasts, 2023 - 2030

The global bovine artificial insemination market size is expected to reach USD 4.54 billion by 2030, registering a CAGR of 6.17% over the forecast period, according to a new report by Grand View Research, Inc. The market is driven by increasing demand for high-quality beef and dairy products, a focus on improving the genetic traits of bovines, as well as advancements in breeding technology. Artificial insemination facilitates animal owners to select the best sires for their cows, resulting in offspring with desirable traits such as increased milk production or meat yield.

As per OECD 2020-29 estimates, about 80% of the world’s milk production comprises cow milk. By 2029, India and Pakistan are projected to contribute to over 30% of the worldwide milk production. This is expected to propel the demand for bovine AI solutions to ensure efficient breeding programs. The COVID-19 pandemic limited access to artificial insemination solutions such as equipment, semen, and services. This led to dampened growth and reduced sales across the market. However, the market has recovered gradually since then, owing to unchanged underlying drivers.

For instance, advances in breeding technology have made artificial insemination a more efficient and affordable option for farmers. Semen can be collected from top-performing bulls and stored for use later, allowing farmers to access superior genetics without having to purchase expensive bulls or maintain them on their farms. Governments in many countries are also supporting the use of artificial insemination as a means of improving livestock productivity and reducing the environmental impact of animal agriculture.

Initiatives to ensure the highest possible genetic progress in bovines, such as cattle and buffaloes, are expected to fuel market growth. In December 2020, Evolution, VikingGenetics, and Masterrind came together to form a dairy and beef genetic cooperative - Arcowin. It is aimed at ensuring the highest possible and the most sustainable genetic progress. The leading stakeholders: Evolution, VikingGenetics, and Masterrind, are key cooperatives within cattle breeding, with strong bases in Finland, France, Germany, Denmark, and Sweden. The formation of Arcowin enabled the 3 organizations to use their genetic resources and investments better.

Access Research Report of Bovine Artificial Insemination Market @ https://www.grandviewresearch.com/industry-analysis/bovine-artificial-insemination-market-report

Bovine Artificial Insemination Market Report Highlights

• By solutions, the services segment dominated the market in 2022 with a share of around 39.0%. The semen segment, on the other hand, is projected to expand at the fastest CAGR of 6.88% through 2030
• The increasing awareness and uptake of bovine artificial insemination services is a key factor attributing to the high share of the segment
• AI Services (NI) Ltd., for instance, offers artificial insemination services to livestock producers across Northern Ireland. A key part of its business comes from the sale of high-quality semen to service users and D.I.Y. operators
• In terms of the distribution channel, private channels accounted for a larger share of the market in 2022 and are also expected to expand at the fastest rate of 6.73% during the forecast period
• The dairy segment dominated the market in 2022 in terms of sector and is also anticipated to advance at the fastest CAGR of 6.6% from 2023 to 2030
• In 2022, North America accounted for the highest share of about 30% of the market, in terms of region
• Asia Pacific is anticipated to grow at the fastest rate of over 7% during the projection period, owing to the thriving dairy and beef sector in key regional markets

Bovine Artificial Insemination Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 2.98 billion
Revenue forecast in 2030	USD 4.54 billion
Growth rate	CAGR of 6.17% from 2023 to 2030
Base year for estimation	2022
Actual estimates/Historical data	2018 - 2021
Forecast period	2023 - 2030

 List of Key Players in the Bovine Artificial Insemination Market

• Genus plc
• IMV Technologies
• SEMEX
• Jorgensen Laboratories
• URUS Group
• STgenetics
• National Dairy Development Board
• Munster Bovine 
• World Wide Sires, Ltd.
• Cogent Breeding Ltd.

Access Press Release of Bovine Artificial Insemination Market @ https://www.grandviewresearch.com/press-release/global-bovine-artificial-insemination-market