Livestock Production Support Services in the US
While rising per capita meat consumption has encouraged many livestock farmers to increase levels of production over the past five years, overall demand for the Livestock Production Support Services industry's offerings has declined, largely due to a shift toward vertical integration among the industry's downstream markets. As consumer demand for meat products increases, livestock farmers are encouraged to expand their herds, generating demand for industry services such as animal spraying and vaccinations. However, this increase in demand for livestock has not yielded a similar increase in industry revenue, as improved access to credit, loans and overdrafts has caused many small-scale farmers to invest in the tools and infrastructure needed to conduct industry services in-house. Moving forward, industry performance is expected to improve slightly over the five years to 2022. Moreover, levels of per capita meat consumption and per capita disposable income are projected to grow consistently during the five-year period, boosting demand for both livestock production and livestock support services.
This industry includes companies that mainly provide support services for raising livestock. Livestock is a term used to describe animals, such as cattle, goats, hogs, horses, poultry and sheep, which have been domestically raised for meat, milk, wool and work. Support services provided to livestock producers include breeding services, pedigree record services and vaccination. Activities related to aquaculture are excluded.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.