Animal Produce Global Market Report 2024

The animal produce market size has grown strongly in recent years. It will grow from $5039.94 billion in 2023 to $5415.42 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth observed during the historical period in the field of animal produce can be attributed to various factors, including consumer preferences and demand for different animal products, the regulatory landscape governing the industry, global economic conditions influencing trade and production, disease outbreaks affecting livestock and food safety, as well as increasing concerns about environmental sustainability. These factors collectively contributed to the development and trends in the animal produce sector during the historic period.

The animal produce market size is expected to see strong growth in the next few years. It will grow to $7091.07 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the forecast period in the field of animal produce can be attributed to several factors, including the increasing focus on health and wellness trends, the adoption of precision agriculture and smart farming practices, adherence to stringent regulatory standards, economic growth and urbanization influencing consumption patterns, and efforts to mitigate the impacts of climate change. Key trends expected in the forecast period encompass the emergence of cultured and cellular agriculture, the globalization of animal produce markets, the emphasis on health and functional benefits in products, the rise of online retail and direct-to-consumer sales channels, and the diversification of animal products to meet evolving consumer preferences. These trends collectively contribute to the continued evolution and expansion of the animal produce sector.

The animal produce market is poised for significant growth, driven primarily by the escalating demand for meat, dairy products, and other animal-derived goods. These products, derived from an animal's body, encompass items such as meat, milk, and more, extensively consumed by individuals. The surge in demand for such products, including meat and dairy, is expected to drive the market for animal produce. For example, data from the United States Department of Agriculture in January 2023 revealed that Americans consumed around 227 pounds of poultry, beef, and pork in 2022, reflecting a notable increase from the 224.9 pounds of meat consumed in 2021. Consequently, this heightened demand for meat, dairy, and other animal-based goods fuels the growth of the animal produce market.

The burgeoning disposable income among consumers serves as a significant catalyst propelling the animal produce market forward. Disposable income, the residual income available for spending and saving after tax deductions, significantly influences the purchasing power of consumers. The rise in disposable income often leads to increased spending on animal produce, representing a significant portion of discretionary spending. For instance, Trading Economics data indicated that in Canada, Disposable Personal Income surged to 1584768 CAD Million in the second quarter of 2023 from 1544960 CAD Million in the first quarter of the same year. This increase in disposable income contributes substantially to driving the animal produce market.

Technological advancements are becoming a prominent trend within the animal produce market, with major companies focusing on implementing cutting-edge technologies to enhance farm operations and fortify their market presence. Notably, companies in the animal produce sector are leveraging advanced technologies, particularly data management systems, to optimize farm operations. An instance of this is JBS Live Pork, a subsidiary of JBS, a US-based pork producer, which implemented Cloudfarms' Swine Data Management System across its 90 US sow farms. This system facilitates the precise collection of data related to daily farm operations, including servings, relocations, and animal health management, directly from the barn. This integration of innovative technologies is expected to revolutionize operational efficiency and further solidify the position of companies within the animal produce market.

Major players in the animal produce market are prioritizing the implementation of real-time monitoring platforms as a strategy to fortify their standing within the industry. These platforms offer continuous and immediate tracking of various factors crucial to animal produce, including livestock health, behavior, and environmental conditions. By employing such platforms, companies aim to optimize production efficiency while ensuring the well-being of animals under their care. For instance, in July 2021, MSD, a US-based healthcare company specializing in innovative health solutions, introduced the Poultry Sense platform. This platform was specifically designed for real-time monitoring of broiler production. By leveraging sensors strategically positioned within sheds, the platform captures and records an array of vital data, such as bird weight, air pressure, humidity, temperature, and carbon dioxide levels. Through this comprehensive data collection, farmers can predict flock health, enhance overall performance, and ultimately advance sustainability practices at the farm level, thereby ensuring better productivity and animal welfare.

In November 2022, Founders’ Armand Agra and Seattle Fish Company, both US-based entities specializing in food businesses and seafood distribution respectively, jointly acquired Lombardi Brothers Meats. This undisclosed acquisition aims to broaden Armand Agra's offerings, strengthen its position in sustainability efforts, and bolster industry leadership across a wider spectrum of protein-related products. Lombardi Brothers Meats, a US-based meat provider, has been a key player in the industry, and this acquisition is anticipated to expand the collective influence of the acquiring companies while diversifying their protein-focused portfolio.

Major companies operating in the animal produce market report are Cargill Incorporated, Sysco Corporation, JBS USA Holdings Inc., Tyson Foods Inc., Sanderson Farms Inc., Koch Foods Inc., Smithfield Foods Inc., Hormel Foods Inc., National Beef Packing Company LLC, OSI Group LLC, Conagra Brands LLC, Wen's Food Group, Wellhope Agri-Tech Co. Ltd., Charoen Pokphand Group, Industrias Bachoco S.A.B. de C.V., Perdue Farms Inc., American Foods Group LLC, Mountaire Farms Inc., Seaboard Foods LLC, Archer Daniels Midland Company, Land O'Lakes Inc., Purina Animal Nutrition LLC, Kent Corporation, Alltech Inc., New Hope Group Co. Ltd., Guangdong Haid Group Co. Ltd., ForFarmers N.V., Nutreco N.V., De Heus Animal Nutrition B.V., DLG Group, Charoen Pokphand Foods plc, Japfa Ltd., MHP SE, Cherkizovo Group Public Joint Stock Company, BRF S.A., Marfrig Global Foods S.A., Minerva Foods S.A., NH Foods Ltd., Nippon Ham Group, Toyo Suisan Kaisha Ltd..

Asia-Pacific was the largest region in the animal produce market in 2023. The regions covered in the animal produce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the animal produce market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of animal produce include live animals, meat, milk, eggs, skin and hide, wool, and honey. Live animals are those currently in existence, and they may be organic or conventional in nature. These animals are utilized for various applications, including availability in hypermarkets or supermarkets, convenience stores, online retail platforms, and other outlets.

The animal produce market research report is one of a series of new reports that provides animal produce market statistics, including animal produce industry global market size, regional shares, competitors with an animal produce market share, detailed animal produce market segments, market trends, and opportunities, and any further data you may need to thrive in the animal produce industry. This animal produce 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 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.


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