The goat handling equipment market size is anticipated to grow from US$ 2,740 million in 2023 to US$ 4,215 million by 2033, at a CAGR of 4.4% during the forecast period. The growth in the market is driven by several factors including increasing population and growing demand for protein, rising consumer awareness about the health benefits of consuming goat products, and growing demand for sustainable and organic farming practices.
The increasing demand for goat meat and dairy products, particularly in developing countries where the consumption of goat meat is a cultural norm, is expected to drive the sales of goat handling equipment. In addition, growing awareness about the health benefits of consuming goat products, such as lower cholesterol and fat content than other meats, is anticipated to drive demand for goats.
The trend of sustainable and organic farming practices is also expected to drive the adoption of goat handling equipment during the forecast period. With increasing awareness of environmental and animal welfare concerns, many consumers are looking for more sustainable and organic food options, leading to an increase in the demand for organic and sustainable goat farming, and propelling the goat handling equipment market growth.
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Manufacturers in the goat handling equipment industry are shifting towards automation and cost-efficient solutions to meet the demands of the market. Automation and robotics are being adopted to improve efficiency and reduce labor costs. Automated feeders, milking machines, and other devices are being developed that can improve efficiency, reduce labor costs, and increase productivity.
IoT technology is also being used by several manufacturers to monitor and track the health and well-being of goats and to gather data on their behavior and preferences. This technology can help farmers improve the productivity and quality of their goat herd, and increase the adoption of goat handling equipment.
Key Takeaways from the Goat Handling Equipment Market:
- The shearing machine segment is expected to lead the market by 2033, with a 25% market share.
- In 2022, the stainless-steel category held 40% of the market. However, market trends indicate that the carbon steel category would likely be in high demand over the projection period.
- During the projected period, the automatic segment is predicted to lead the goat handling equipment industry with a CAGR of 6%.
- The goat handling equipment market in the United States is expected to exceed US$ 777.2 million by 2033, growing at an 8% CAGR during the forecast period.
- Germany is expected to account for 17.5% of the worldwide goat handling equipment market.
- The German goat handling equipment market is expected to be valued at US$ 459.2 million by 2033, growing at a CAGR of 5% during that period.
- According to FMI, the goat handling equipment industry in the United Kingdom is expected to be worth US$ 361 million by 2033, with a projected CAGR of 4.7% throughout the forecast period.
- The goat handling equipment industry in Japan is expected to reach US$ 139.4 million by 2033, developing at a moderate CAGR of 4.8% during the forecast period.
- With a 3.5% CAGR throughout the forecast period, China accounts for 8.6% of the goat handling equipment market.
- China’s goat handling equipment industry is predicted to surpass US$ 318.1 million by 2033, owing to the region’s strong consumption of goat meat.
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Who is Winning?
Significant market players are working on generating innovative products to meet farmers’ diversified needs. The usage of automated feeding devices for goats is one of the leading trends in the market. These systems employ sensors to monitor the feed level in the trough and automatically distribute feed as needed. Also, some companies are now manufacturing equipment that can be used for milking and breeding goats, which can make the process easier.
Manufacturers of goat handling equipment are working on improving health management devices. These include weighing scales and feed analysis devices, which assist farmers and ranchers in monitoring the health and nutritional deficiency of their goats.
Recent Developments in the Market:
- “Smart Shepherding” introduced a remote monitoring system for goats that employs wireless technology to track the animals’ health and behavior, allowing farmers to make better management decisions.
- “Allflex” invented a tracking device that uses RFID technology to rapidly and easily identify and monitor particular goats. This method is ideal for tracking health information and breeding records.