Approximating the Global Economic (market) Value of Farmed Animals

Overview

Journal Glob Food Sec

Publisher Elsevier

Date 2023 Dec 14

PMID 38093782

Authors

Peggy Schrobback

Gabriel Dennis

Yin Li

Dianne Mayberry

Alexandra Shaw

Theodore Knight-Jones

Thomas Lloyd Marsh

Dustin L Pendell

Paul R Torgerson

William Gilbert

Benjamin Huntington

Kassy Raymond

Deborah A Stacey

Theresa Bernardo

Mieghan Bruce

K Marie Mcintyre

Jonathan Rushton

Mario Herrero

Affiliations

Soon will be listed here.

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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