Livestock Production Support Services in the US
Demand for the Livestock Production Support Services industry depends on the level of activity in downstream livestock industries and these markets' propensities to outsource support services to external companies. Rising per capita meat consumption has encouraged many livestock farmers to increase levels of production over the past five years, though weak prices have hindered greater growth in these downstream industries. As consumer demand for meat products increases, livestock farmers are encouraged to expand their herds, generating demand for industry services. However, increasing demand for livestock has not yielded a similar increase in industry revenue as improved access to credit has caused many small-scale farmers to invest in the tools and infrastructure needed to conduct industry services in-house. However, industry performance is expected to improve slightly over the five years to 2023 as demand for boarding, farrier and breeding services from the Horse and Other Equine Production industry rises. Industry revenue is expected to increase as a result.
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.
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