South Asia witness fastest growth in the global sheep supplies market. The sheep supplies market is driven by the increasing demand for sheep products such as wool, meat, and dairy. The use of precision livestock farming technology, such as sensors and GPS tracking systems, to improve the efficiency and productivity of sheep farming operations.
NEWARK, Del, Jan. 20, 2023 (GLOBE NEWSWIRE) — The market for sheep supplies is expected to grow from its current value of US$ 4.49 Billion in 2023 to US$ 6.97 Billion by 2033. During this forecast period, the market is anticipated to expand at a CAGR of 4.5%.
The forecast period is expected to see an increase in revenue for the global sheep supplies market. Increased demand for livestock farm equipment from all around the world is accountable for this surge. There is a wide variety of sheep farming equipment on the market nowadays including sheep supplies.
Numerous factors are driving the growth of the global sheep supply market. The development of sheep populations and technical advancements are two of the main contributors to this proliferation. A rise in demand from end users is also promoting market expansion.
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In addition, the growing need for automation of different sheep husbandry activities is another key factor in the expansion of the global market. The market is expected to rise as a result of the expansion of the livestock sector and the increased adoption of cutting-edge technology.
Multiple uses of sheep supplies, like feeding, milking, monitoring, and cleaning is creating demand in livestock farms. The application of these sheep supplies boosts productivity and guarantees optimal management. Demand for milk, meat, and other sheep products has significantly increased as a result of the growing global population. In addition, the rising demand for woolen goods is boosting the expansion of the global market for sheep supplies.
The demand for supplies used in domestic sheep husbandry is expanding. This is due to the fact that business owners are choosing to employ these technologies more frequently to boost output and revenue. Additionally, they use sheep supplies to keep their domestic sheep clean and more hygienic, which helps to prevent any disease.
Manufacturers continue to place a high priority on R&D initiatives in an effort to lower the current price of the supplies. The makers of sheep supplies are concentrating on enhancing their product range in order to boost sales.
North America is anticipated to rule the sheep supplies market. In recent years, understanding of the usage of livestock farming equipment has increased in the region along with practical experience. The advantages of using sheep supplies, such as increased farm efficiency, have made them quite popular.
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- The market for sheep supplies in the United Kingdom is anticipated to grow at a CAGR of 4.8% through 2033.
- The US dominated the sheep supplies market in 2022 holding a 28.0% share of the global market.
- Japan was reported to possess a 5.3% share of the global sheep supplies market in 2022.
- With a CAGR of 5.3% over the forecast period, India is predicted to grow rapidly in the market for sheep supplies by 2033.
- The sheep supplies market in China is expected to grow at a CAGR of 3.6% over the forecast period.
- Germany accounted for 18.1% of the global sheep supplies market in 2022.
The top manufacturers of the sheep supplies market are Ritchie, Te Pari, Cotter Agritech, O’Donnell, Tru-Test, Premier 1 Supplies, Cotter Agritech, OVI Handling, Huber Requirement, Arrowquip, Shepherdsmate, StowAg, Abattoir equipment & tools and others.
To increase their share in the global market for sheep supplies, these businesses have employed a range of strategies. They have boosted its clientele and earnings by utilising both organic and inorganic development strategies, such as the introduction of new products, acquisitions, corporate expansions, and collaborations.
- In May 2022, along with the targeted worming system known as the SmartWorm app, Cotter Agritech introduced the cottar crate sheep handling device for weighing.
- In June 2021, the VIMCO® Mastitis Vaccine for Goats and Sheep was advertised as a product offered by Premier 1 Supplies. A USDA-approved mastitis vaccination for goats and sheep has not been available in the USA up to this point.
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Sheep Supplies Market Segmentation
By Supply Type:
- Shearing Machine
- Nipple Drinker Machine
- Sheep Weighing Scales
- Roll Over Crate
- Fixed Sheep Race
- Feed Pellets
- Coarse Mash
By Farm Type:
- Large Farm
- Small Farm
By Sales Channel:
- Direct Sales
- Agro Stores
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.7. Regional Parent Market Outlook
4. Global Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
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