The market for identifying livestock properties grows as the animal industry focuses more on detecting diseases and meeting government rules. This market consists of technologies that help operators maintain constant control of livestock from their life start to finish while protecting animal health and improving supply chain efficiency. The livestock industry needs more animal tracking because people want more food from animals, plus new technology helps make identifications better, plus governments require complete animal tracking records.
The Livestock Identification Market is expected to grow at a robust CAGR of 7.1% during the forecast period, owing to the strict government regulations for traceability and disease control, along with the growing adoption of RFID and IoT-based tracking for efficient herd management. In the coming years, the Asia Pacific region will expand its market at the fastest rate. The meat market demand in China, India, Australia, and Japan grows as their livestock numbers rise. For instance, India had the largest cattle inventory in the world in 2023 followed by Brazil and China. India's cattle inventory was reported at 307.5 million head in 2023, accounting for roughly 33% of the world's inventory. The expanding livestock sector, together with property owners gaining knowledge about livestock tracking software drives prospective buyers. China and India will be the fastest-growing countries in the region during the forecast period.
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