The global livestock grow light market is projected to grow at a CAGR of 6.69% during the forecast period to reach US$8.347 billion by 2027, up from US$5.304 billion in 2020.
Grow lights are artificial electric lights used in livestock farms to help animals grow and develop without wasting time, and for ease of comfort, it helps in their reproductive system also. These lights are important for livestock growth as they impact the physiological response and comfort of animals. Environmental regulations for livestock can be categorised as behavioural and physiological factors, as well as their interactions with the physical setting. The important drivers that determine how to choose temperatures, airflow, and thermal management are physiological concerns. They are altered as a result of the limitations imposed by: the physical surroundings – for example, flooring, airspeed, light, and so on – and how the animal reconfigures its environment. Behaviour – for example, panting, huddling, and wallowing. The growing light is used to create such conditions that are conducive to livestock growth. Livestock grows lights are artificial grow lights that are used in commercial farms to help animals grow and evolve. These lights are important for development, and they also impact the physiological reaction and solace of the livestock. Growing lights like led bulbs, incandescent lights, HID lights, and fluorescent lights are used as light sources on farms. Over the forecast period, the increasing demand for the usage of animal-based products is expected to drive market growth. Furthermore, the growing emphasis on increasing livestock to increase animal-based production is predicted to drive the growth of the livestock grow light market. Smart animal farming procedures are expected to drive growth in grow lights in livestock farms in developed nations.
According to FAO, global meat production reached 342 million tonnes in 2018, an increase of 109 million tonnes from the previous year. Though many species are raised for meat-based products, three species account for the majority of global meat production: pigs, chickens, and cattle, with pig meat accounting for 35% of total produce, cattle meat accounting for 28%, and chicken meat accounting for 33% of the total production. This paints a clear picture of the rising demand for animal meat-based products, which is expected to be a major growth factor in the livestock industry due to the need for healthy animal-based products.
It can be predicted that adapting farm culture to meet the demand for animal-based products is expected to contribute to the market growth of livestock. As per the report of FAO, in 2019, the number of livestock is cattle, 1.5 billion, chickens, 25.9 billion, sheep, 1.2 billion, ducks, 1.2 billion, goats, 1.1 billion, and pigs,9 billion, all of which have been growing since then, which is expected to be the major growth factor in the livestock market.
COVID-19 had a significant impact on the livestock grow light market owing to the globally implemented rigorous lockdown regulations by several governments, resulting in a complete shutdown of many economies. The coronavirus jolted the supply chain and production units, which affected and slowed down the demand for the livestock growing light in the market for the foreseen period.
The Global Livestock Grows Light Market's Major Challenges In the global livestock grow light market, it is expected that the high installation cost of the product on a large-scale basis and the side effect of grow light on livestock can hamper the market for global livestock grow light. Any type of light, regardless of its source, has the potential to be dangerous for the eyes or skin at high enough intensities through persistent exposure to high temperatures or photo-chemical effects of infrared emissions, ultraviolet and/or blue light.
Europe is expected to dominate the market for livestock grow lights. The region's livestock grows light market is expected to be driven by the implementation of smart farm animal technologies to enhance farm profit. Furthermore, rising demand for beef, meat, and high-quality milk products is expected to drive the use of grow lights in livestock farms over the forecast period, allowing grow lights to aid in expanding farm productivity.
Due to the large population of livestock in the region, Asia Pacific is anticipated to grow in the forecasted period. As the livestock population increases, so does the size of existing farms. A spike in the proportion of new livestock farms is expected to fuel regional growth even further. Furthermore, factors such as rising spending power and strong economic growth lead to an increase in demand for animal-based products such as meat and eggs. In developing economies, livestock is important for development because it improves the lives of farmers.
|Market size value in 2020||US$5.304 billion|
|Market size value in 2027||US$8.347 billion|
|Growth Rate||CAGR of 6.69% from 2020 to 2027|
|Forecast Unit (Value)||USD billion|
|Segments Covered||Livestock, Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Genesis Scientific Limited, Once Inc, HATO, Sunbird, Shenzen Ohmax Optoelectronic Lighting Co. Ltd., Uni- lightled, Greengage Lighting|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the livestock grow lights market size by 2027?
A1. The livestock grows lights market is expected to reach a market size of US$8.347 billion by 2027.
Q2. What is the size of the global livestock grow lights market?
A2. Livestock Grow Lights Market was estimated to be worth US$5.304 billion in 2020.
Q3. What are the growth prospects for the livestock grow lights market?
A3. Livestock Grow Lights Market is expected to witness a CAGR of 6.69% over the forecast period.
Q4. What factors are anticipated to drive the livestock grow lights market growth?
A4. The increasing demand for the usage of animal-based products is expected to drive the global livestock grow light market growth
Q5. Who are the major players in the livestock grow lights market?
A5. The major players in the livestock grows lights market are Genesis Scientific Limited, Once Inc, HATO, Sunbird, and Shenzen Ohmax Optoelectronic Lighting Co. Ltd., among others.
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. LIVESTOCK GROWS LIGHT MARKET, BY LIVESTOCK
6. LIVESTOCK GROWS LIGHT MARKET, BY TYPE
6.4. High-Intensity Discharge
7. LIVESTOCK GROWS LIGHT MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.4.3. United Kingdom
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.3. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Genesis Scientific Limited
9.2. Once Inc
9.5. Shenzen Ohmax Optoelectronic Lighting Co. Ltd.
9.6. Uni-light LED
9.7. Greengage Lighting
Genesis Scientific Limited
Shenzen Ohmax Optoelectronic Lighting Co. Ltd.
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