by The livestock identification market involves identification and traceability solutions to track animals and shipments of livestock products for regulatory compliance, herd management and disease control purposes. Permanent identification methods including tags, tattoos and brands are installed on livestock at initial points such as farms, ranches or auctions to enable unique identification. The global livestock identification market provides stakeholders advantages like improved traceability, disease control and beef quality assurance. The demand for identification solutions has surged with stringent traceability regulations for beef and dairy cattle coming into effect.
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 key trends:
Governments are implementing strict rules to enable traceability of livestock and derived meat products back to the farm of origin within hours in order to control disease outbreaks. For instance, the U.S. introduced the mandatoryCountry of Origin Labeling (COOL) in 2002 while the European Union brought reforms to its traceability system with Regulation (EC) No 178/2002 and Regulation (EC) No 1825/2000. Such regulations have propelled adoption of identification tags, brands and other solutions for livestock traceability.
SWOT Analysis
Strength: Livestock farmers can easily trace and identify animals using tags/RFID for breeding purposes and better herd management. This helps improve productivity.
Weakness: High initial investment required for deployment of RFID technology-based identification systems. Technical issues like tags getting damaged over time.
Opportunity: Growing demand for traceability and transparency in food supply chain. Governments enforcing strict identification and traceability regulations.
Threats: Counterfeit tags can undermine the system. Privacy and data security concerns regarding animal and farmer information collected.
Key Takeaways
The Global Livestock Identification Market Size is expected to witness high growth. Advances in RFID technology and its declining costs are driving greater adoption. The market size for 2024 is estimated at US$ 3.51 billion indicating solid gains over the forecast period from 2023 to 2030.
Regional analysis comprises North America dominates the market currently due to strict regulations and growing importance of traceability systems. The Asia Pacific region is anticipated to grow at the fastest pace supported by rising meat consumption, developing livestock farming infrastructure and implementation of identification programs by China and India.
Key players operating in the livestock identification market are Beiersdorf, 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. They are focusing on expansion in emerging markets and introducing integrated solutions combining tags, readers, software and services.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
