LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global animal transportation market to grow at a CAGR of over 3% during 2018-2022. The introduction of blockchain technology in the logistics industry is a key trend, which is expected to impact the growth of the market.
Blockchain technology is a digital platform that offers distributed transaction ledger, which helps various stakeholders in maintaining identical copies on multiple computer-controlled systems. This helps in developing a cost-efficient and effective supply chain. Various LSPs are implementing blockchain technology in their supply chain to improve efficiency and data security in the supply chain. Use of blockchain in animal transportation will help to streamline operations, reduce costs and expedite the sharing of information. Such developments will lead to the growth of the market during the forecast period.
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In this report, Technavio researchers identify the increased demand for animals from slaughterhouses and dairy industry as a key factor contributing to the growth of the global animal transportation market:
Increased demand for animals from slaughterhouses and dairy industry
The increase in consumption of meat, beef, poultry and dairy products over the last few years is driving the animal transportation market for safe transportation of animals. Meat consumption has increased by close to 21% over the decade between 2007-2017. Top meat consuming countries of the world include China, Argentina, Brazil, Mexico, Russia, the USA, and Japan. Also, there is an increase in demand for various dairy products such as milk, eggs etc. leading to the growing demand for livestock.
According to a senior analyst at Technavio for transportation and distribution research, “Vendors in the market need to ensure safety and hygiene during animal transportation. This mandates the need to ensure sufficient space, ventilation, and food during transit to ensure the transportation of healthy livestock.”
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Global animal transportation market - segmentation and analysis
This market research report segments the global animal transportation market by type (livestock, pets, and others) and key regions (Americas, APAC, and EMEA).
In 2017, the livestock segment dominated the market with more than 46% share of the market. This segment will also witness an increase in its market share over the forecast period owing to the high demand for meat, poultry, dairy products, and leather.
The Americas dominated the market with over 43% share of the market, followed by the EMEA and APAC in 2017. The market share of APAC is expected to witness the maximum growth over the forecast period while the other two leading regions will witness a small decline in their market shares.
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