Approximating the global economic (market) value of farmed animals

Peggy Schrobback^{1

2}, Gabriel Dennis^{1

2}, Yin Li^{1

2

3}, Dianne Mayberry^{1

2}, Alexandra Shaw⁴, Theodore Knight-Jones^{1

5}, Thomas Lloyd Marsh^{1

6}, Dustin L Pendell^{1

7}, Paul R Torgerson^{1

8}, William Gilbert^{1

9}, Benjamin Huntington^{1

9}, Kassy Raymond^{1

10}, Deborah A Stacey^{1

10}, Theresa Bernardo^{1

11}, Mieghan Bruce^{1

12}, K Marie McIntyre^{1

9

13}, Jonathan Rushton^{1

9}, Mario Herrero^{1

14}

Affiliations

¹ Global Burden of Animal Diseases Programme, UK.
² Commonwealth Scientific and Industrial Research Organisation (CSIRO), Agriculture & Food, St Lucia, Australia.
³ Murdoch University, Murdoch Veterinary School, Perth, Australia.
⁴ Infection Medicine, Deanery of Biomedical Sciences, Edinburgh Medical School, The University of Edinburgh, UK.
⁵ International Livestock Research Institute (ILRI), Addis Ababa, Ethiopia.
⁶ Washington State University, School of Economic Science, Pullman, USA.
⁷ Kansas State University, Department of Agricultural Economics, Manhattan, USA.
⁸ University of Zurich, Vetsuisse Faculty, Section of Epidemiology, Zurich, Switzerland.
⁹ University of Liverpool Institute of Infection, Veterinary and Ecological Sciences, Liverpool, UK.
¹⁰ University of Guelph, School of Computer Science, Guelph, Canada.
¹¹ University of Guelph, Ontario Veterinary College, Department of Population Medicine, Guelph, Canada.
¹² Murdoch University, School of Veterinary Medicine and Centre for Biosecurity and One Health, Harry Butler Institute, Perth, Australia.
¹³ Newcastle University, Evidence and Policy Group, School of Natural and Environmental Sciences, Newcastle, UK.
¹⁴ Cornell University, Department of Global Development, College of Agriculture and Life Sciences, and Cornell Atkinson Center for Sustainability, Ithaca, USA.

PMID: 38093782
PMCID: PMC10714036
DOI: 10.1016/j.gfs.2023.100722

Approximating the global economic (market) value of farmed animals

Peggy Schrobback et al. Glob Food Sec. 2023 Dec.

. 2023 Dec:39:100722.

doi: 10.1016/j.gfs.2023.100722.

Authors

Affiliations

¹ Global Burden of Animal Diseases Programme, UK.
² Commonwealth Scientific and Industrial Research Organisation (CSIRO), Agriculture & Food, St Lucia, Australia.
³ Murdoch University, Murdoch Veterinary School, Perth, Australia.
⁴ Infection Medicine, Deanery of Biomedical Sciences, Edinburgh Medical School, The University of Edinburgh, UK.
⁵ International Livestock Research Institute (ILRI), Addis Ababa, Ethiopia.
⁶ Washington State University, School of Economic Science, Pullman, USA.
⁷ Kansas State University, Department of Agricultural Economics, Manhattan, USA.
⁸ University of Zurich, Vetsuisse Faculty, Section of Epidemiology, Zurich, Switzerland.
⁹ University of Liverpool Institute of Infection, Veterinary and Ecological Sciences, Liverpool, UK.
¹⁰ University of Guelph, School of Computer Science, Guelph, Canada.
¹¹ University of Guelph, Ontario Veterinary College, Department of Population Medicine, Guelph, Canada.
¹² Murdoch University, School of Veterinary Medicine and Centre for Biosecurity and One Health, Harry Butler Institute, Perth, Australia.
¹³ Newcastle University, Evidence and Policy Group, School of Natural and Environmental Sciences, Newcastle, UK.
¹⁴ Cornell University, Department of Global Development, College of Agriculture and Life Sciences, and Cornell Atkinson Center for Sustainability, Ithaca, USA.

PMID: 38093782
PMCID: PMC10714036
DOI: 10.1016/j.gfs.2023.100722

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.

Keywords: Aquaculture; Farmed animals; Food security; Livestock; Market; Non-market value; Total economic value.

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Conflict of interest statement

The authors declare the following financial interests/personal relationships which may be considered as potential competing interests: Corresponding author and all co-authors report that financial support was provided by Bill and Melinda Gates Foundation. Corresponding author and all co-authors reports financial support was provided by Commonwealth and Development Office of UK government.

Figures

**Fig. 1**
Total Economic Value of farmed animals.

**Fig. 2**
Global asset value, output value and mass of farmed animals and crops between 1998 and 2018 Notes: Aquaculture estimates are not included in asset value as global data are unavailable. ‘B’ for billion, ‘T’ for trillion. Values are presented in constant 2014–2016 USD. Sources: FAO (2021a), FAO (2021b).

**Fig. 3**
Approximation of the true global market value of farmed animals and global crop value (1998–2018) Note: The shaded area represents the value range within which the true total global economic (market) value of farmed animal may be found. ‘T’ for trillion. Values are presented in constant 2014–2016 USD. Sources: FAO (2021a), FAO (2021b).

**Fig. 4**
Spatial distribution of combined global farmed animal asset value and output value in 2018 Notes: Values are presented in International Dollars (Int. $) to account for purchasing power parity (PPP). NA indicates that data were not available including for either stocks/quantities, price/value or local currency unit/standard local currency data for 2018. ‘B’ for billion USD. Sources: FAO (2021a), FAO (2021b), The World Bank (2022).

**Fig. 5**
Average annual changes in asset value and output value between 2005 and 2018 Notes: NA indicates that data were not available including for either stocks/quantities, price/value or local currency unit/standard local currency data. All values in constant 2014–2016 USD. Sources: FAO (2021a), FAO (2021b), The World Bank (2021).

See this image and copyright information in PMC

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Approximating the global economic (market) value of farmed animals

Affiliations

Approximating the global economic (market) value of farmed animals

Authors

Affiliations

Abstract

Conflict of interest statement

Figures

References

LinkOut - more resources

Full Text Sources