Overview and Scope
Livestock identification refers to the process of uniquely identifying individual animals or groups of animals for various purposes, such as traceability, disease control, and record-keeping. It involves keeping records on individual farm animals or groups of farm animals so that they can be easily tracked.
Sizing and Forecast
The livestock identification market size has grown rapidly in recent years. It will grow from $2.01 billion in 2023 to $2.24 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to disease control and traceability, food safety and quality assurance, market demands for quality assurance, supply chain efficiency, globalization of trade.
The livestock identification market size is expected to see strong growth in the next few years. It will grow to $3.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to climate change resilience, supply chain transparency, pandemic preparedness, sustainability initiatives, animal welfare concerns. Major trends in the forecast period include blockchain integration, data analytics and AI, remote sensing technologies, mobile applications and cloud solutions, environmental and climate monitoring.
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Segmentation & Regional Insights
The livestock identification market covered in this report is segmented –
1) By Type: Hardware, Software
2) By Products: Ear Tags, Microchips, Radio Frequency Identification Tags, Bolus Tags, Neck Tags, Other Identification Systems
3) By Technology: Radio Frequency Identification (RFID), Barcode, Global Positioning System (GPS), Other Technologies
4) By Application: Cattle, Poultry, Swine And Pig, Other Applications
North America was the largest region in the Livestock identification market in 2023. The regions covered in the livestock identification market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for animal welfare is expected to propel the growth of the livestock identification market going forward. Animal welfare refers to the ethical and moral responsibility humans have to ensure the physical and mental well-being of animals under their care or influence. Animal welfare demand arises due to growing public awareness and concern about the welfare of animals, driven by increased media coverage, education, and advocacy efforts. Livestock identification is employed to promote animal welfare by enabling more efficient and targeted management practices, facilitating disease control efforts, and ensuring that animals receive appropriate care and interventions to maintain their health and well-being. For instance, in 2022, according to reports published by the American Pet Products Association, Inc., a US-based non-profit association, $123.6 billion was spent on pet animal welfare in the US in 2021, which has since climbed to $136.8 billion by 2022. Therefore, the increasing demand for animal welfare is expected to propel the growth of the livestock identification market.
Key Industry Players
Major companies operating in the livestock identification market are DeLaval Inc., Livestock Improvement Corporation Limited, Nedap N.V., BouMatic LLC, SCR Dairy Inc., Ceres Tag Ltd, AEG Identification Systems, Y-Tex Corporation, Afimilk Ltd, MS Schippers B.V., Avid Identification Systems Inc., Shearwell Data Ltd, IdentiGEN Limited, Quantified AG, Animana B.V., Cainthus Ltd, Connecterra B.V., Cowlar Ltd, Datamars SA, Küpsan Hayvanclk, Moocall Ltd, CowManager B.V., Allflex Livestock Intelligence Ltd
The livestock identification market report table of contents includes:
1. Executive Summary
2. Livestock Identification Market Characteristics
3. Livestock Identification Market Trends And Strategies
4. Livestock Identification Market – Macro Economic Scenario
5. Global Livestock Identification Market Size and Growth
…..
32. Global Livestock Identification Market Competitive Benchmarking
33. Global Livestock Identification Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Livestock Identification Market
35. Livestock Identification Market Future Outlook and Potential Analysis
36. Appendix
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