Livestock Grow Lights Global Market Report 2024

The livestock grow lights market has grown strongly in recent years. It will grow from $6.71 billion in 2023 to $7.29 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The expansion observed in the historical period can be ascribed to the introduction of initial agricultural lighting solutions, the use of incandescent and fluorescent lighting, improved control over spectrum and wavelength, a heightened emphasis on animal welfare and behavior, and the adaptation of lighting systems for specific livestock.

The livestock grow lights market is expected to see strong growth in the next few years. It will grow to $9.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The anticipated growth in the forecast period can be attributed to market expansion and growth, changes in regulatory standards, a heightened emphasis on energy efficiency, a growing demand for customized solutions, and the integration of smart controls. Key trends in the forecast period involve the expansion into indoor farming, a focus on longevity and durability, the integration of UV lighting, customized lighting solutions, and ongoing research in animal behavior.

The anticipated increase in livestock productivity is set to drive the growth of the livestock grow lights market. Livestock productivity, denoting the efficiency and effectiveness of raising livestock for diverse outputs such as meat, milk, eggs, and other animal products, can be enhanced through the use of livestock grow lights. These lights emulate natural light, creating a physiological effect on livestock that fosters growth and increased production. Eurostat reported that Europe's pig meat production reached 23.4 million metric tons in 2021, and the Food and Agriculture Organization stated a global dairy output of 930 million tons in 2022, indicating a 0.6% rise from the previous year. Consequently, the surge in livestock productivity is a key driver for the livestock grow lights market.

The increasing investment in agriculture is expected to contribute significantly to the growth of the livestock grow lights market. Agricultural investment involves allocating financial resources to various facets of the agricultural sector with the goal of enhancing productivity, sustainability, and overall efficiency. Investments in livestock grow lights play a pivotal role in advancing lighting technology in animal farming environments. The US Department of Agriculture (USDA) announced an investment exceeding $12.5 million to support 76 small businesses engaged in high-quality research in food and agriculture in August 2023. This underscores the positive impact of growing agricultural investment on the livestock grow lights market.

A prominent trend in the livestock grow lights market is the emphasis on product innovations. Major companies operating in the market are introducing innovative products, particularly sustainable LED grow lights, to maintain their market standing. In July 2021, Light Science Technologies launched NurturGrow LED grow lights, featuring 85% reusable components for quick upgrades and cost savings in animal farming and indoor growing. This product's variable length of up to 2.78 meters positions it as the longest luminaire on the market, showcasing industry-leading LED lighting innovation for premium and high-performance grow lights.

Innovative technological product launches continue to be a focal point for major companies in the livestock grow lights market. For instance, Polymatech Electronics launched the next-generation horticulture LED grow light, Ravaye, in January 2023. Ravaye is designed to provide enhanced lighting for professional horticulture applications in greenhouses and vertical farming. Its broader spectrum of light and higher photosynthetic photon flux efficacy contribute to faster and healthier plant growth.

In January 2022, Scotts Miracle-Gro Company's acquisition of Luxx Lighting aligns with its strategy to enhance offerings for commercial cannabis cultivators and enhance stakeholder value. Luxx Lighting, a developer of high-performance grow lights based in the US, is poised to contribute to Scotts Miracle-Gro's position in the market.

Major companies operating in the livestock grow lights market report are Fienhage Poultry Solutions GmbH, Greengage Lighting & Glo-bulb Company, HATO Agricultural Lighting, Shenzhen Hontech-Wins Electronica Co. Ltd., Sunbird Poultry Lighting Systems Ltd., Big Dutchman AG, Aruna Lighting, Uni-Light LED, Light Engine Limited, ONCE by Signify, Waveform Lighting, Tetra Laval Corporation, Agrilight BV, ams-OSRAM AG, Gavita International B.V., CBM Lighting Inc., Lighting company Hybrite Co. Ltd., Black Dog Horticulture Technologies & Consulting, California LightWorks, Cree Inc., Current Lighting Solutions LLC, Growers Choice, Heliospectra AB, Hortilux Schréder B.V., Illumitex Inc., Kind LED Grow Lights, Koppert B.V., Lumileds Holding B.V., MaxLite, Morsen Light.

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

The primary categories of livestock growth lights encompass fluorescent, light-emitting diode (LED), incandescent, and high-intensity discharge lights. Fluorescent lights generate visible light through a process known as fluorescence and find applications in the growth of various livestock, including cattle, poultry, swine, and others. The diverse light colors used include green, red, white, and blue. Installation methods are typically categorized as retrofits or new installations.

The livestock grow lights market research report provides livestock grow lights market statistics, including livestock grow lights industry global market size, regional shares, competitors with livestock grow lights market share, detailed livestock grow lights market segments, market trends and opportunities, and any further data you may need to thrive in the livestock grow lights industry. This livestock grow lights 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 livestock grow lights market consists of sales of high-pressure sodium (HPS) and compact fluorescent lamps. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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