Livestock Market Key Trends & Industry Highlights

Deliverable Overview

The animal health team at Grand View Research has compiled a quantitative and qualitative analysis of key trends and industry highlights in the livestock market. Herein, livestock populations for key species, such as cattle, sheep, chickens, pigs, goats, and others, are estimated from 2017 to 2022 for key countries mentioned in the scope. The report further includes the estimated global number of livestock farms and farmers, the estimated number of disaster insurance providers for livestock, a list of key disaster insurance providers coupled with key details, a list of government organizations offering subsidies for livestock farmers coupled with key insights, and in-depth competitive landscape on smart ear tags market for livestock. The report also provides a detailed research methodology, market drivers, opportunities, and challenge analysis of the livestock industry. The dataset is provided in Excel & PDF format.

Key Insights

The global livestock market is highly dynamic, with developing countries rapidly responding to the growing demand for animal-derived food products. World Organization for Animal Health (OIE) projects the demand for livestock products to increase by 70% between 2005 and 2030. The rapid growth of the livestock industry is seen in low- & middle-income countries, with modest growth in high-income countries. Mostly due to the rising population and changing lifestyle preferences in the urbanized economy, the growth of the livestock market is anticipated to continue in the coming decades. Such optimistic growth in livestock production is, in turn, creating several opportunities for global sustainable development. According to an article published on May 2021 by the WOAH (OIE), the livestock sector plays multiple roles in positively impacting the global Sustainable Development Goals (SDGs).

The Food and Agriculture Organization (FAO) reported that during the last three decades, the global livestock sector has rapidly expanded in animal product consumption and production, leading to a “livestock revolution.” The mentioned source also suggests that livestock will provide 50% of the global agricultural output value in the next 10 years (as of 2021, it contributed 40%).

The trade of livestock animals can serve as a store of wealth for low-income producers. Despite the limitations caused by the COVID-19 pandemic in several countries, livestock import forecast by the United States Department of Agriculture (USDA) predicts year-on-year growth. The following data shows the 2022 and forecasted 2023 export and import quantity of cattle & swine worldwide, according to the USDA report published on January 2023:

As per Livestock Research for Rural Development (LRRD) Organization, livestock production largely contributes to the socio-economic development and livelihood of the rural community, with a positive impact on equity in terms of poverty reduction, employment, & income. For instance, over 70% of rural households in India own livestock farms with cattle, sheep, goats, chickens, and pigs, among others.

Governments of various countries, in collaboration with global animal health or welfare organizations, are taking numerous steps to support livestock farmers with several benefits.

Some of the major livestock-supportive measures implemented by the government include:

• Clear standards & laws on animal welfare, food safety, and the environment

• High-quality research & education in agriculture

• Financial support for farmers in terms of subsidies to promote innovative housing & husbandry units.

• Financial protection for farmers in natural disasters