Market size refers to the total value of product sales. A large market may exist even with relatively low
quantities of product sales if prices are high. Market size (or potential market size) affects economic
viability and income potential associated with trade.
Wildlife species with a large market are more likely to be harvested for trade than those with a smaller
market. This is because trade is likely to present the most valuable use for the wildlife resource. A large
market improves the potential for business and livelihood benefits associated with trade. Whether larger
market size is a blessing or a curse for conservation depends on species and governance factors
(Sections 2.1 and 2.2), but a large market is not inherently a risk to biodiversity.
Small markets or no market for a wildlife product can also be a conservation risk. Where wildlife has no
market value, incentives may be inadequate for sustainable wildlife management. For many species,
cultural, spiritual or other non-use values (i.e. not harvested) ensure their conservation. However, for
others, insufficient markets can contribute to biodiversity loss as habitat is converted to more productive
uses (such as forestry monocultures or agriculture). Moreover, without a sufficient market, the potential
contribution of wildlife resources to improving livelihoods and development outcomes may not be realized.