8 Most Profitable Livestock Business Ideas For 2023

Livestock rearing has been a good source of income for human beings since ancient times. Currently, livestock farming is undoubtedly one of the most profitable businesses – both at small-scale or large-scale. If you want to start a livestock farming business then here are some of the most profitable ideas that will double your income in 2022.

If you have little space at your backyard then you can start farming there or else you can hire a space on rent. The only thing you need to keep in mind is to select an animal that has good demand in the market, do a little research and begin with your business.

Best Livestock Farming Business Ideas for 2023

Below we have mentioned 8 most lucrative livestock business ideas that anyone can start with little guidance;

Goat Farming

Goat farming is one of the most profitable business livestock farming businesses at present as it gives us milk as well as meat. Moreover, goat farming is a low-investment & high-profit livestock farming business. They don’t need a big area for housing due to their small body size in comparison to other livestock animals. In addition, goat farming ensures quick and high ROI depending on the investment amount.

You can start with 6-7 goats at the beginning and once your business gets established you can increase the numbers.

Pig Farming

Another profitable livestock business idea is pig farming. More than 1 billion pigs are butchered every year worldwide and the largest pig exporting nations include the US, European Union and Canada. The majority of pigs are used for human food but their skin, fat & other materials are also used as clothing, cosmetics, processed foods ingredients, and for medical use. In India, pig farming is done mainly in the northeast regions.

Dairy Farming

Dairy farming is popular all over the world. It is a great way for farmers to double their income and access to more nutritious food for their families. While subsistence dairy farming gives not only fresh milk & a source of basic income, value-added products like yogurt & cheese, provide a higher source of revenue.

To start with dairy farming, you can select some of the top cattle breeds in India.

Sheep Farming

Sheep farming is also a lucrative business for the farmers. One can raise sheep for its milk, meat, & fiber. But, you need to choose specific breeds depending on the agro-climatic condition of your region. Some of the important sheep-producing countries include mainland China, Australia, India, Iran etc. Before starting a sheep farming business, you must draft a clear business plan that should include financial costs & revenue.

Fish Farming

Fish farming is another money-making business for anyone who has ample water bodies. However, you can also raise fish on small tanks or ponds in your backyard. You can select different types of carp fishes, shrimp, catfish, prawns, and salmon. While starting a fish farming business, it is important to do a market study to understand the local demand. These days, ornamental fish farming and biofloc fish farming are very demanding. 

Pearl Farming

Presently, the cultured pearl industry is getting huge prominence. These cultured pearls make up almost 100 percent of the pearls sold nowadays. You can produce pearls artificially in a pearl farm.  Pearl farming is a highly lucrative livestock business, though it requires long-term planning.

There are many farmers who are earning lakhs every month by doing pearl farming. There is a farmer who even grows pearls at home in buckets. 

Poultry Farming

A person can start poultry farming for eggs as well as meat. In general, egg-producing hens are layers & meat-producing hens are broilers. As the demand for chicken meat is growing day-by-day, poultry farming is a profitable livestock business for farmers. You can easily start a poultry farm on a small-scale or large-scale basis.

Quail Farming

Although quail is a small poultry bird but its farming is very profitable. The benefits of quail farming include quick growth, early sex maturity, short generation interval & prolificacy in egg production. Also quail meat has less fat & fewer calories, making it an ideal food for health-conscious people. Quail eggs as well as meat are well-known for being rich source of vitamins, essential amino acids, phospholipids and unsaturated fatty acids. And all of these are essential for human physical & mental development.

Loans and subsidies for Livestock Business 

The best thing is you can easily get loans from banks to start these businesses. Moreover, the government also provides mudra loans to all those who wish to start their own business. All you need to do is go to your nearest bank and tell them about your business plan. the amount of loan will depend upon the type of business & requirement for the same.