Livestock plays a crucial role in the world’s economy. It involves the controlled breeding and management of animals. Along with the enhancing traits and desirable qualities for farm utility and procuring food for human consumption. Animal husbandry improves genetic traits and behavior of animals which are valuable in terms of food and other products for humans. Since the outbreak of the pandemic coronavirus, the sector has largely been impacted. Animal husbandry has been a substituting way of livelihood for a number of the rural population apart from agriculture and allied activities. The governments across the regions have been banned all the activities in order to prevent the spread of the virus, which in turn has impacted the adoption of the meat and other animal products across the globe.
The global animal husbandry sector has been segmented on the basis of type as dairy, meat, poultry, aquaculture, and others (insects). The wake of the virus has made the peoples avoid the eating of such products, as there’s a rumor amongst peoples that there is a high risk of the infections or viruses spread. Due to such rumors, per capita consumption of meat and other animal products have been declined, due to which the wholesale prices of chicken and meat have been witnessed a sharp decline. Besides, animal husbandry also plays an essential role in providing employment, especially self-employment, along with a huge amount of livestock products aids in export earnings. Thus, this has stopped and canceled a lot of business deals, as there’s a low demand for chicken and meat.
Further, owing to a sharp decline in the chicken and meat sector, various other markets have been impacted including the import of maize and soybean and other items to prepare the chicken and other animal feeds. Thus, the unfounded rumors have primarily wedged on the farmers which are indulged in growing maize, soybean, corn among others, and also, due to the COVID-19 there has been a decline in the prices of these animals feed items.
Geographically, the industry analysis has been done on the various region-wise including North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific and Europe are the most affected regions of the coronavirus. Italy and China are among the largely impacted regions, where the market faces extreme downfall. However, continuous government support for these industries and farmers have balanced. And the declaration by the WHO, that coronavirus doesn’t jump from animals to humans might help the industry to sustain. Despite the rumors against the chicken and meat, growth in disposable incomes along with changing food habits to increase the consumption of meat has been expected shortly.
At last, as per the governments advice to stay at home and social distancing, it is expected that it will divert foodservice and on-the-go consumption back into the home, may push up retail purchases.
OMR global recently published a report titled ‘COVID-19 on Animal Husbandry Sector’ addressing the impact of COVID-19. The report includes analyses of different regions and countries. The sector has been largely affected, moreover, a surge in cases in Europe and Asia Pacific in March 2020 has affected the industries of these regions also. In the report, an expected recovery timeline of the industry will be provided with the best- and worst-case scenario which will aid the companies to take their future steps in the global animal husbandry industry.
