Crocodile Farming Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

Introduction: -

Crocodile farming, a form of intensive animal husbandry, involves breeding, growing, and maintaining crocodilians for commercial purposes. The primary aim of crocodile farming is to obtain the skin, meat, oil & claws of crocodiles. Crocodile meat is known to have low cholesterol, good taste, and high protein. Every year, approximately 1.5 million skins are harvested from crocodilian species. The global crocodile farming market is estimated to flourish at a compounded annual growth rate (CAGR) of 5.0% during the forecast period of 2022-2030.

Growth Drivers:

Factors such as the increasing crocodile breeding activities for making medicines, leather goods, and food, the growing export of crocodile meat and skin, the proliferating awareness among people regarding the uses of crocodile products, and the rising number of regulations aimed at conserving the rare species of crocodiles are some of the primary factors driving the growth of the global crocodile farming market.

Over the last few years, the emergence of new crocodile farms has increased. For instance, the premium luxury French fashion brand Hermès recently built one of Australia’s biggest crocodile farms in the Northern Territory that can hold up to 50,000 saltwater crocodiles. The farm supplies skins for converting them into luxury goods such as handbags and shoes. This growing number of farms significantly boosts the overall crocodile farming market.

Also, crocodile-related events are getting highly popular in countries such as Malaysia, Thailand, Papua Guinea, and others. Thus, the farming and breeding of crocodiles are also proving to be beneficial for the growth of the tourism industry in these countries.

Moreover, the crocodile farming market players are seen to be actively engaging themselves in developing technologically advanced systems for crocodile farming. They are currently working on advanced digital systems which can aid farm operators in digitally accessing and monitoring their farms. Such advanced systems which aid in enhancing the overall efficiency of the farms are expected to further augment the growth of the global crocodile farming market during the forecast period.

However, the rising concerns pertaining to the spread of diseases from crocodile farming activities and the high level of complexity and cost involved in farming operations are expected to restrict the growth of the global crocodile farming market during the forecast period.

Crocodile Farming Market Segmentation:

By Product Type:

·         Siamese Crocodile

·         Thai Crocodile

·         Others

By Application:

·         Leather Goods

·         Food

·         Medicinal

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

Crocodile Farming Market: Product Type Review:

Based on product type, the global crocodile farming market is segmented into Siamese crocodile, Thai crocodile, and others. The Siamese crocodile segment captured the largest share of the market in 2021 and is expected to further continue to lead the market during the forecast period. The growth and dominance of this segment can be attributed to the large-scale export of this crocodile species all around the globe.

Crocodile Farming Market: Application Review:

Based on application, the global crocodile farming market is classified into leather goods, food, and medicinal. The food segment led the market in 2021. The segment is anticipated to maintain the trend over the forecast period. However, the leather goods segment, followed by the medicinal segment, is predicted to attain the highest growth in the market during the forecast period of 2022-2030.

Regional Outlook:

The crocodile farming research report offers detailed analysis and forecasts for five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The North American region dominated the global crocodile farming market in 2021, followed by Europe, with an estimation of the trend further continuing over the forecast period. The major factors responsible for the large share of this market include the presence of the major crocodile farms, the escalating technological advancements, the increasing production of leather items, and the high adoption of advanced technology in the region. The U.S. stands as the leading contributor to the growth of the market in the region.

On the other hand, the Asia Pacific region is expected to register the highest growth in the market during the forecast period. The growth of the market in the region can be ascribed to the growing number of crocodile farms in the region. Additionally, the increasing consumption and import of crocodile meat and the high usage of crocodile body parts in the making of various pharmaceuticals and traditional medicines are also substantially contributing to the growth of the market in the Asia Pacific region. The total contribution of the crocodile farming industry in Australia amounted to $54.3 million in 2014-2015. India, China, and Australia are the major contributors to the region, with Australia leading from the front.

The Middle East and Africa region also acquired a significant share of the global crocodile farming market in 2021. The region is predicted to experience stable growth in the market during the forecast period of 2022-2030. The presence of licensed crocodile farms and the growing export of crocodile meat, especially to Taiwan, China, and Hong Kong, are among the predominant factors driving the growth of the market in the region.

The report also identifies the country market outlook for crocodile farming, covering country-wise market size, growth rate, market share, segmentation, leading players, current trends, and opportunities.

Key Companies in Crocodile Farming Market:

The research report offers a competitive analysis of prominent companies operating in the global crocodile farming market. Some of the leading players profiled in the market research report include:

·         Koorana Crocodile Farm

·         Zhenshan Crocodile Culture

·         Shandong Yurui

·         Zhenjiang Shunda

·         Guangdong Fulu

·         Linyi Xuri Crocodile Breeding

·         Juncheng

·         Other Players