Livestock Grow Lights Market Analysis & Growth Trends and Industry Statistics

Livestock Grow Lights Market by Type (Fluorescent, Light-Emitting Diode (LED), Incandescent, and Hid), Livestock (Cattle, Poultry, Swine, and Others), Installation Type (Retrofit and New Installation), and Region - Global Forecast to 2023

(EMAILWIRE.COM, April 26, 2021 ) The livestock grow lights market is projected to grow from USD 6.3 billion in 2018 to USD 8.6 billion by 2023, at a CAGR of 6.4% during the forecast period. This is attributed to technological innovations and the adoption of smart livestock farming practices. However, the increase in the demand and consumption of livestock-based products and the rising focus on livestock growth and welfare together with the emphasis on livestock productivity drives the demand for using grow lights in livestock barns.

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By type, the LED segment is projected to witness the fastest growth in the livestock grow lights market during the forecast period.

The LED segment is projected to witness the fastest growth due to its significant energy savings and longer durability properties. In addition, it is more energy-efficient with one-fifth of the power consumption of incandescent bulbs. LED grow lights provide a wide range of spectrum from blue to red that can be customized to the desired spectrum as per the spectral sensitivity of the livestock. By optimizing different spectrum levels and radiation, farmers could create lighting environment that is best suited for their livestock’s wellbeing.

The cattle segment is projected to account for the largest market share during the forecast period

Based on the livestock segment, the market is estimated to be dominated by the cattle segment in 2018. In dairy farms, grow lights help in improving the output of milk production from dairy cattle; whereas in beef cattle, grow lights are used to stimulate muscle growth to increase meat production. Further, the constantly rising demand for dairy & dairy-based products including milk, cheese, yogurt, and butter in both, developed and developing economies are projected to drive the demand for grow lights in cattle farms.

Asia Pacific is projected to account for the largest market share during the forecast period.

The Asia Pacific market accounted for the largest share in the livestock grow lights market. The large market share in this region is attributed to the presence of large livestock population (FAO STATISTICS 2016) and their growth. Furthermore, the rising number of livestock farms and the growing size of existing farms are also projected to contribute to the large market of the Asia Pacific region.

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The major vendors in the global market are OSRAM (Germany), Signify Holding (Netherlands), DeLaval (Sweden), Big Dutchman (Germany), Uni-light LED (Sweden), Once Inc. (US), AGRILIGHT BV (Netherlands), Aruna Lighting (Netherlands), HATO BV (Netherlands), Shenzhen Hontech-Wins (China), CBM Lighting (Canada), Fienhage Poultry Solutions (Germany), SUNBIRD (South Africa), ENIM UAB (Lithuania), and Greengage Lighting (UK).

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