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Approximating the global economic (market) value of farmed animals

Lookup NU author(s): Dr Marie McIntyreORCiD

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This work is licensed under a Creative Commons Attribution 4.0 International License (CC BY 4.0).

Abstract

Understanding the global economic importance of farmed animals to society is essential as a baseline for decision making about future food systems. We estimated the annual global economic (market) value of live animals and primary production outputs, e.g., meat, eggs, milk, from terrestrial and aquatic farmed animal systems. The results suggest that the total global market value of farmed animals ranges between 1.61 and 3.3 trillion USD (2018) and is expected to be similar in absolute terms to the market value of crop outputs (2.57 trillion USD). The cattle sector dominates the market value of farmed animals. The study highlights the need to consider other values of farmed animals to society, e.g., finance/insurance value and cultural value, in decisions about the sector’s future.

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Author(s): Schrobback P, Dennis G, Li Y, Mayberry D, Shaw A, Knight-Jones T, Lloyd Marsh T, Pendell DL, Torgerson PR, Gilbert W, Huntington B, Raymond K, Stacey DA, Bernardo T, Bruce M, McIntyre KM, Rushton J, Herrero M

Publication type: Article

Publication status: Published

Journal: Global Food Security

Year: 2023

Volume: 39

Print publication date: 01/12/2023

Online publication date: 05/10/2023

Acceptance date: 25/09/2023

Date deposited: 05/10/2023

ISSN (electronic): 2211-9124

Publisher: Elsevier BV

URL: https://doi.org/10.1016/j.gfs.2023.100722

DOI: 10.1016/j.gfs.2023.100722

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