PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1211710
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1211710
Animal Genetics Market size was valued at USD 6,308.9 Million in 2022, expanding at a CAGR of 8.2% from 2023 to 2030.
The study of genetics and how it affects living things are known as animal genetics. It serves as a biological blueprint for the structure, operation, and survival of organisms' genes and is thought to be a significant element affecting animal health and productivity. It uses a variety of genetic techniques, including twin, cytological, population, hybrid, and ontogenetic approaches. Regulate the population of livestock, it also helps to define the similarities and differences among different organisms. Animal genetics is currently used extensively around the world for DNA typing, genetic characteristic testing, and disease diagnosis.
Animal Genetics Market- Market Dynamics
One of the main factors favoring the market's growth is the expanding world population and rising food demand. Additionally, a positive market outlook is being produced by the expanding livestock population and increased consumer awareness of the advantages of consuming food products made from animals, such as dairy and meat, to meet nutritional needs. For instance, food derived from animals offers concentrated quantities of energy and a variety of other nutrients, such as fat, riboflavin, iron, zinc, calcium, and vitamins A, B, D, and E, and supports the growth of the body. Additionally, the market is expanding due to the simple accessibility of animal-based food products across both online and offline distribution channels, as well as a variety of facilities like doorstep delivery, alluring discounts, and secure payment gateways.
In addition, the market is growing as people become more aware of veterinary genetic illnesses and embrace cutting-edge genetic and molecular biology methods at a faster rate. In line with this, it is expected that the market would be driven by increasing investments in research and development (R&D) activities to establish techniques for evaluating molecular data and creating tools to combine data with current phenotypic and biological information.
Animal Genetics Market- Segmentation Analysis:
The Global Animal Genetics Market is segmented based on Live Animals, Genetic Materials, Services, and Region.
Based on a live animal, the porcine segment accounted for the largest market share and is expected to show its dominance over the forecast period. This largest share can be due to several variables, including a sizable market for pork meat and its byproducts as well as expanding use of cutting-edge genetic research. The market is also anticipated to expand as a result of environmental variables including relatively low land needs and minimal animal upkeep requirements.
The category for genetic disease tests, based on services, is predicted to experience the fastest growth rate during the projection period. In the case of farm owners, this growth might be ascribed to the increasing usage of genomic tests to prevent financial losses and loss of live animal productivity. Animal genetic firms' most popular service is DNA typing and parentage testing.
Animal Genetics Market- Geographical Insights
North America is the major shareholder in the animal genetics market, owing to extensive animal genetics research and industry companies' use of strategic actions such as acquisitions. For example, in 2018, Neogen finalized the acquisition of Livestock Genetic Services, a company that specializes in data administration and genetic examinations for cow breeding organizations. The acquisition aided the company's efforts to broaden its genetic evaluation capabilities.
Animal Genetics Market- Recent Development:
In March 2022, HKScan, Topigs Norsvin, and Royal Agrifirm Group agreed to collaborate on the establishment of a research and trial farm in Finland. The agreement states that cooperation will be used to create best practices in pork production for future demands.
In January 2022, the National Institute of Food and Agriculture (NIFA) committed $5 million to genetically improve livestock output across the country.
Key features of the study:
This proposed research study on the Animal Genetics market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for ` the Animal Genetics market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Animal Genetics market
The impact of COVID-19 on the Animal Genetics market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the Animal Genetics market post-COVID will also be covered.
To give the users of this report a comprehensive view of the Animal Genetics market, we have also included a competitive landscape and key innovator analysis for the Animal Genetics market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Animal Genetics market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Animal Genetics market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL ANIMAL GENETICS MARKET KEY PLAYERS
E.W. Group
Genus
URUS
NEOGEN CORPORATION
Topigs Norsvin
Groupe Grimaud
Zoetis
Hendix Genetics B.V.
Envigo
Animal Genetics Inc.
DanBre
VetGen
Tropical Bovine Genetics
Trans Ova Genetics
GLOBAL ANIMAL GENETICS MARKET, BY LIVE ANIMAL
Porcine
Bovine
Poultry
Canine
Others
GLOBAL ANIMAL GENETICS MARKET, BY GENETIC MATERIALS
Embryo
Semen
GLOBAL ANIMAL GENETICS MARKET, BY SERVICES
Genetic Trait Testing
Genetic Diseases Testing
DNA Typing
GLOBAL ANIMAL GENETICS MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA