IAA: Livestock feeding robots to near 9% growth
by Katie Pfaff
The global market for livestock feeding robots are predicted to grow at a CAGR of 8.79%, according to report by market research firm, InsightAce Analytic Pvt. Ltd. The forecast is for the period of 2022 to 2030.
Demand across the world for animal products continues to increase. Cost conscious farmers also seek to efficiently manage their herds.
As livestock operations incorporate more technology, feeding robots can be used to manage animals with different nutritional demands. The technology allows farmers to differentiate feed for many different animals in their herds.
Technological advances such as feeding robots are thought to have the potential to increase yields for farmers such as better feed conversion ratios, increased health, and greater production of milk, etc. Automated care also reduces costs of labor in manually feeding varied diets.
Growth could be hindered by the high inaugural costs of beginning to use robotic feeding. This could make the practice financially difficult or not possible in small- and medium-sized farming operations.
By regional segment, North America was forecast to hold the greatest share of the market. This is expected as the demand for animal products remains high and the high degree of automation in many farms already, making addition of the technology possible with little impact. The region is also conscious of keeping production rates high and maintaining quality standards, and invests in R&D to keep farming practices efficient and efficacious.
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