Precision Swine Farming Market worth $711 million by 2028 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 9, 2023 /PRNewswire/ -- The Precision Swine Farming Market is projected to reach USD 711 million by 2028 from USD 418 million by 2023, at a CAGR of 11.2% from 2023 to 2028 according to a new report by MarketsandMarkets™. The market for precision swine farming by software offering is experiencing growth due to the need for efficient data management and analysis in managing large numbers of pigs as there has been a surge in demand for pork products.
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Demand for needle-free injection systems by hardware offering drive the market due to the reduced risk of infection
The precision swine farming market is experiencing an increasing demand for needle-free injection systems. This can be attributed to the numerous advantages they offer, such as the reduction of infection risk and improved animal welfare. The use of needle-free injection systems can significantly reduce the risk of infection for both animals and workers by eliminating the possibility of needlestick injuries. This, in turn, can ensure the safety and health of livestock, while also safeguarding the health of workers. Moreover, needle-free injection systems also offer an array of benefits in terms of animal welfare. Traditional injection methods can be painful and stressful for animals, leading to a decrease in productivity. Needle-free injection systems alleviate the pain and stress associated with traditional injection methods, thereby ensuring the well-being of livestock.
By application, swine identification and tracking category hold a significant market share during the forecast period
Swine identification and tracking systems are increasingly in demand in the precision swine farming market. The technology provides crucial data for farmers to monitor individual pigs, optimize growth, and track their health status. With information on each pig's feed intake, weight gain, and behavior, farmers can adjust their management practices to ensure that every pig receives the appropriate level of care, improving efficiency and yield. This technology also helps prevent disease outbreaks by quickly identifying and isolating sick pigs, reducing the risk of spreading disease to healthy ones and minimizing the need for antibiotics. Swine identification and tracking systems also aid farmers in complying with regulatory requirements related to food safety and animal welfare. By keeping accurate records of pig movement, feed intake, and medication history, farmers can demonstrate their adherence to regulatory authorities, increasing credibility and avoiding penalties.
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Europe is projected to be the dominant region in the precision swine farming market
Europe holds the largest share in the precision swine farming market due to several factors, including a shortage of labor and an aging population, as well as a growing focus on sustainable pork production and an increasing demand for efficiency and productivity in swine farming. In response to the labor shortage and aging population, European farmers have been investing in precision farming technologies, which help to increase efficiency and productivity while reducing the need for manual labor. Additionally, the focus on sustainable pork production has driven the adoption of precision swine farming practices, as these technologies enable better resource management, waste reduction, and animal welfare. Furthermore, the increasing demand for efficiency and production has further contributed to Europe's dominance in the precision swine farming market. Precision farming technologies allow for real-time monitoring and timely interventions, leading to improved growth rates and profitability.
The key players in this market include Nedap N.V. (Netherlands), CTB, Inc. (US), Merck & Co., Inc. (US), Boehringer Ingelheim Animal Health USA Inc. (US), Guangzhou Yingzi Technology Co, Ltd. (China), Hotraco (Netherlands), VDL Agrotech BV (Netherlands), AcuShot Needle Free (Canada), Pulse NeedleFree Systems (US), Henke Sass Wolf GmbH (Germany), Big Dutchman (Germany), EN-CO Software Zrt (Hungary), Luda Farm AB (Sweden), AGCO Corporation (US) and Microfan (Netherlands). The study includes an in-depth competitive analysis of these key players in the precision swine farming market with their company profiles, recent developments, and key market strategies.
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