Livestock identification refers to identification and tracking of livestock through various means and is essential for ensuring traceability as well as quality assurance. Common identification methods include ear tags, RFID tags, electronic implants, branding, tattoos, etc. Growing emphasis on livestock traceability and quality assurance are driving demand for various livestock identification solutions globally. Livestock or cattle farming involves rearing of cattle, buffaloes, sheep, goats, pigs and poultry for milk, meat and other by-products. Identification of cattle plays a key role in tracking disease outbreaks, monitoring animal health, assisting breed associations, and ensuring quality in milk and meat.
The global livestock identification market is estimated to be valued at US$ 3.51 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising consumption of meat has enhanced consumer focus on food safety, purity and quality. This has increased implementation of livestock traceability programs worldwide. Traceability helps in tracing meat or animal products back to the farm of origin which aids in disease control and food safety surveillance. Further, traceability allows differentiation of products, supports official controls and facilitates continuity in the food supply chain. The growing emphasis on livestock traceability and quality assurance as referenced in the heading is positively impacting adoption of livestock identification solutions. Another driver for the market is growing cross-border trade of livestock and its products. International trade mandates traceability and identification of livestock for documentation purposes. This has boosted demand for reliable identification methods. Rising global population and urbanization are increasing demand for animal-source food products which is amplifying the scale of livestock farming. Larger livestock operations require robust identification systems for herd management and animal health monitoring, thereby favoring market growth over the forecast period.
Segment Analysis
The global livestock identification market is dominated by the cattle segment. Cattle farming is one of the major agricultural activities globally and cattle identification and tracking helps in maintaining records for milk production, meat production, disease control and genetic development. Cattle accounts for nearly 40% of the total livestock identification market owing to high demand for cattle identification products like ear tags, back tags, dangles tags etc. for the purpose of individual animal identification, herd management and cattle trade.
PEST Analysis
Political: Government regulations in many countries mandate livestock identification and tracking to ensure food safety and quality. Subsidies are provided for adoption of identification systems.
Economic: Livestock farming is a major economic activity globally. Identification helps in optimizing production, disease management and trade. Return on investment is high for identification solutions in large cattle farms and dairy farms.
Social: Livestock farmers associations promote adoption of identification solutions for traceability and sustaining livelihoods. Consumers demand traceability of meat and dairy products for food safety.
Technological: Advanced RFID tags, sensor tags, facial/retinal recognition, blockchain and AI are enhancing identification capabilities. Cloud-based management software helps real-time tracking and monitoring.
Key Takeaways
The Global Livestock Identification Market Size is expected to witness high growth supported by growing meat and dairy consumption globally. The global livestock identification market is estimated to be valued at US$ 3.51 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.
The North American region dominates the market currently owing to large cattle farming and stringent regulations regarding traceability of livestock and products.
Key players operating in the livestock identification market are Beiersdorf, Krylon, Estee Lauder Companies Inc., Amway, Avon Products Inc., CHANEL, CIATÉ, Coty Inc, Estée Lauder Inc, Johnson & Johnson, KRYOLAN, L’Oréal S.A, Revlon, Inc., Shiseido Company, Limited. Key players are focusing on partnerships, collaborations and launching advanced RFID and sensor-based tags for livestock monitoring. Adoption of technology like blockchain, AI and management software is expected to drive future growth.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it