PUBLISHER: The Business Research Company | PRODUCT CODE: 1464123
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464123
Livestock identification entails uniquely identifying individual animals or groups of animals for diverse purposes including traceability, disease control, and record-keeping. This process involves maintaining comprehensive records on farm animals to facilitate easy tracking.
The primary types of livestock identification encompass hardware and software solutions. Hardware includes physical components such as microchips, radio frequency identification (RFID) tags, bolus tags, neck tags, and other identification systems. These technologies leverage RFID, barcodes, global positioning systems (GPS), and others, and find application across various livestock sectors including cattle, poultry, swine, and more.
The livestock identification market research report is one of a series of new reports from The Business Research Company that provides livestock identification market statistics, including livestock identification industry global market size, regional shares, competitors with a livestock identification market share, detailed livestock identification market segments, market trends and opportunities, and any further data you may need to thrive in the livestock identification industry. This livestock identification market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 observed during the historic period can be attributed to several factors, including the emphasis on disease control and traceability within livestock populations, the focus on ensuring food safety and quality assurance standards, market demands for enhanced quality assurance measures, the drive for greater efficiency within supply chains, and the globalization of trade, which necessitates robust systems for tracking and monitoring livestock movements.
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 forecasted growth is driven by climate change resilience, supply chain transparency, pandemic preparedness, sustainability initiatives, and animal welfare concerns. Major trends include blockchain integration, data analytics and AI, remote sensing technologies, mobile applications, and environmental monitoring.
The escalating emphasis on animal welfare is poised to drive the expansion of the livestock identification market in the foreseeable future. Animal welfare, rooted in the ethical obligation to ensure the physical and mental well-being of animals under human care or influence, is fueled by a growing societal consciousness and concern, spurred by heightened media coverage, educational initiatives, and advocacy campaigns. Livestock identification serves as a pivotal tool in promoting animal welfare by facilitating more effective and targeted management practices, aiding disease control endeavors, and ensuring timely interventions to safeguard animal health and welfare. For instance, in 2022, reports from the American Pet Products Association, Inc., a US-based non-profit association, revealed a substantial increase in spending on pet animal welfare in the US, rising from $123.6 billion in 2021 to $136.8 billion by 2022. As such, the burgeoning demand for animal welfare is anticipated to propel the growth of the livestock identification market.
Leading enterprises within the livestock identification sector are channeling their efforts towards innovative advancements, exemplified by solutions such as SenseHub Feedlot, aimed at enhancing livestock monitoring capabilities. This software system is specifically tailored to monitor the health and well-being of cattle within feedlots, leveraging electronic ear tags to capture behavioral and biometric data, including body temperature and activity levels, enabling continuous monitoring of animal welfare. Notably, in February 2022, Merck & Co., Inc., a prominent US-based pharmaceutical company, unveiled senseHub Feedlot, designed to revolutionize cattle monitoring in feedlot settings. This cutting-edge technology facilitates early detection of illness in livestock, enabling prompt evaluation and treatment, thereby potentially reducing treatment costs, minimizing mortality rates, and improving treatment outcomes. Leveraging sensors to monitor cattle temperature and movement, the system delivers real-time data, enhancing the accuracy and efficiency of disease detection compared to traditional visual observation methods. Furthermore, its illuminating electronic ear tag simplifies the identification and sorting of cattle requiring attention, streamlining labor-intensive processes.
In June 2021, Datamars SA, a Switzerland-based global leader in data solutions, completed the acquisition of HerdInsights for an undisclosed sum. This strategic move was designed to establish a comprehensive resource for dairy farmers seeking cutting-edge livestock performance monitoring solutions. By joining forces, both companies aim to enhance their offerings and better serve the needs of their agricultural clientele. HerdInsights, based in Ireland, specializes in manufacturing reproductive and health monitoring systems, along with providing animal identification services.
Major companies operating in the livestock identification market report 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, Kupsan Hayvanclk, Moocall Ltd, CowManager B.V., Allflex Livestock Intelligence Ltd
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.
The countries covered in the livestock identification market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The livestock identification market includes revenues earned by entities by providing services such as RFID tagging services, ear tagging services, biometric identification services, consulting and integration services, and regulatory compliance services. The market value includes the value of related goods sold by the service provider or included within the service offering. The livestock identification market consists of sales of electronic identification (EID) tags, handling equipment, feed and nutrition products, electronic monitoring systems, branding equipment, and tattooing equipment. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Livestock Identification Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on livestock identification market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for livestock identification ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The livestock identification market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.