According to the report titled ‘Global Livestock and meat Market Size, Share & Trends Analysis Report By Animal Type (Cattle, Poultry ,Swine ,Equine ,Others), By application (milk harvesting ,breeding management, feeding management, animal health monitoring & comfort), Regional Forecasts 2021-2027’, available with Market Study Report, global livestock and meat market was valued at USD 4.1 billion in 2020 and is expected to grow at 15.9% CAGR during 2021-2027, thereby accumulating USD 11.5 billion by the end of analysis timeframe.
 

As suggested by the report, global livestock and meat market expansion is credited to surge in female labor engagement, rise in consumption of ruminant meat and meat products, bolstering meat prices, and improved disposable income.
 

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For the unversed, animals that are reared to be used for commercial purposes fall under livestock category. These animals including wild, domestic, and semi-domestic, are being used as a source of food and labor since time immemorial.
 

Constant efforts towards developing technologies for recovering protein content from meat, in consort with cognizance about the sustainability of meat co-products will further stimulate the industry outlook.
 

On the contrary, certain factors like inadequate veterinary facilities, scarcity of grazing land, issues related with parasites and diseases, alongside low milk production capacity in indigenous cattle are likely to restrain the growth of global livestock and meat market during the forecast timeline.
 

By animal type, the market is classified into poultry, cattle, swine, quine, and others. Speaking of application terrain, the industry is segmented into breeding management, feeding management, milk harvesting, and animal health monitoring & comfort.
 

Considering the geographical landscape, Asia Pacific market is anticipated to witness significant growth during the forecast timeline, owing to growth in income of the middle-class population, and rise in interest & demand for high-quality protein rich food commodities.
 

Prominent companies which are influencing the worldwide livestock and meat market trends are BouMatic LLC, Lely Industries N.V., Dairymaster, DeLaval Inc., Fullwood Packo Group, GEA Group AG, Fancom B.V., Sensaphone, Afimilk Agricultural Cooperative Ltd., and MSD Animal Health. These industry behemoths are undertaking strategies like mergers, collaborations, partnerships, and acquisitions to expand consumer reach and amplify their profits.