Research Nester published a report titled “Livestock and Aquaculture LED Lighting Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global livestock and aquaculture LED lighting market in terms of market segmentation by product type, watt, installation, distribution channel, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global livestock and aquaculture LED lighting market is anticipated to grow with a CAGR of 7.4% during the forecast period, i.e., 2022 – 2031. The market is segmented by product type into LED bulb, LED tube light, and LED fixtures. Out of these, the LED tube light segment is projected to garner the largest revenue of USD 4313.6 Million by the end of 2031. Moreover, in the year 2021, the market generated a revenue of USD 2123.6 Million.
The global livestock and aquaculture LED lighting market is estimated to garner a revenue of USD 9745.9 Million by the end of 2031, up from a revenue of USD 4811.1 Million in the year 2021. Numerous benefits associated with LED lighting, followed by the rise in demand for health and sustainable food products are some of the major factors anticipated to drive the growth of the market during the forecast period.
Geographically, the global livestock and aquaculture LED lighting market is segmented into North America, Europe, Asia Pacific, and Rest of World region. Out of these, the market in the Asia Pacific is anticipated to garner the largest revenue of USD 3922.7 Million by the end of 2031. Additionally, in the year 2021, the market generated a revenue of USD 1977.4 Million.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Surge in Consumption of Meat Globally to Drive Market Growth
The Food and Agricultural Organization (FAO), in one of its statistics, stated that the food consumption of meat worldwide touched 41.3 kg/capita in the year 2015 up from 24.2 kg/capita during 1944-1966. Further, by the end of 2030, this is expected to touch 45.3 kg/capita.
The consumption of meat and meat products around the globe is increasing significantly, backed by the increasing population worldwide. As a result, there is a growing need amongst the cultivators to increase their production by using sustainable agriculture practices. Such a factor is therefore anticipated to drive the demand for LED fixtures as these fixtures help to promote the growth of the living organisms that are under cultivation.
However, the limited awareness about the availability of smart lighting technologies, along with the high cost of LED lights are expected to operate as key restraint to the growth of global livestock and aquaculture LED lighting market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global livestock and aquaculture LED lighting market which includes company profiling of DeLaval, Big Dutchman, Les éclairs CBM inc., Aruna Lighting Holding B.V., HATO Agricultural Lighting, Sunbird Lighting Pty Ltd, Greengage Agritech Ltd., LED Livestock ApS, Fienhage Poultry-Solutions GmbH, Uni-light LED, J&D Manufacturing, Erilon, Agrilux (Thies Electrical Distributing Co. Inc.), Agri-Light Energy Systems Ltd., Once Inc., Shenzhen Hontech-Wins Electronics Co., Ltd., Lely International N.V., Adolf Schuch GmbH, Gasolec B.V., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global livestock and aquaculture LED lighting market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.