Livestock and Aquaculture LED Lighting Market Trends

Growth Drivers

• Increasing Adoption of Smart Livestock Farming and Aquaculture Practices –Smart farming, smart livestock, and aquaculture are estimated to increase the production, quality, and usage of maximum resources and reduce the environmental effect. The use of automatic lighting systems to control the temperature and brightness of the light prevents excessive coldness and heat in cattle sheds. The value of smart farming in India was projected to reach a worth of USD 890 million by the end of 2028.
• Rising Production Associated with LED Lighting in Livestock and Agriculture – The growth of the aquaculture production of all fishes was estimated to reach USD 240 billion out of USD 400 billion of the global economy.
• Rising Consumption of Animal Based Products Across the World – As of 2021 Americans consume more than 270 pounds of meat every year on average.
• Growing Aquariums in Homes and Malls to Enhance the Appearance – As of 2022 statistics, more than 1.8 million households across the globe have saltwater aquariums with over 780,000 in the U.S.
• Rising Consumption of Dairy Products for Various Food Items and Dishes – In the United States alone, more than 130 pounds of milk products are consumed by every person as of 2021 reports.

Challenges

• Limited Awareness About the Availability of Smart Lighting Technologies
• High Cost of LED Lights – The manufacturing of LEDs is complex compared to regular halogen bulbs which makes them inexpensive. Also, many parts are used in the production of LED, and these components are costly that increase the investment price. All these factors hamper the market growth.
• Lack of Awareness of the Benefits of LED lights