South Korea Bovine Artificial Insemination Market Size & Outlook
South Korea bovine artificial insemination market, 2018-2030 (US$M)
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South Korea bovine artificial insemination market highlights
- The South Korea bovine artificial insemination market generated a revenue of USD 14.5 million in 2023 and is expected to reach USD 24.1 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.5% from 2024 to 2030.
- In terms of segment, services was the largest revenue generating solution in 2023.
- Semen is the most lucrative solution segment registering the fastest growth during the forecast period.
Bovine artificial insemination market data book summary
| Market revenue in 2023 | USD 14.5 million |
| Market revenue in 2030 | USD 24.1 million |
| Growth rate | 7.5% (CAGR from 2023 to 2030) |
| Largest segment | Services |
| Fastest growing segment | Semen |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Equipment & Consumables, Semen, Services |
| Key market players worldwide | Genus PLC, Wolverine World Wide Inc, Cogent Biosciences Inc, Immersion Corp, Semex Alliance, Jorgensen Laboratories, Pond Technologies Holdings Inc, STgenetics, National Dairy Development Board, Munster Bovine |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.2% of the global bovine artificial insemination market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China bovine artificial insemination market is projected to lead the regional market in terms of revenue in 2030.
- Thailand is the fastest growing regional market in Asia Pacific and is projected to reach USD 3.2 million by 2030.
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Bovine Artificial Insemination Market Scope
Bovine Artificial Insemination Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea bovine artificial insemination market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to bovine artificial insemination market will help companies and investors design strategic landscapes.
Services was the largest segment with a revenue share of 41.38% in 2023. Horizon Databook has segmented the South Korea bovine artificial insemination market based on equipment & consumables, semen, services covering the revenue growth of each sub-segment from 2018 to 2030.
Genetic improvement programs have been established in the country to develop economic breeds of bovine, thereby supporting meat and milk production through artificial selection & insemination techniques. The country’s Dairy Cattle Improvement Center (DCIC) has been the sole AI center for distributing and producing cattle/bovine semen since 1962.
Local farmers have used AI breeding to raise Hanwoo (native cattle breed) for years to expand their production rate. A 2021 article published in the Journal of Animal Science and Technology states that AI is commonly preferred in South Korea to breed Hanwoo cattle. These factors are expected to support the country’s market over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea bovine artificial insemination market , including forecasts for subscribers. This country databook contains high-level insights into South Korea bovine artificial insemination market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea bovine artificial insemination market size, by solution, 2018-2030 (US$M)
South Korea Bovine Artificial Insemination Market Outlook Share, 2023 & 2030 (US$M)
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