Animal Genetic Market was estimated at USD 7 billion in 2022 and is poised to reach at 12.2 billion in 2030 anticipated to expand at a compound annual growth rate CAGR of 7.3% for the forecast period of 2023-2030.
Several key factors are fueling this market expansion:
- Rising demand for animal protein: A growing global population necessitates increased food production, making efficient and productive livestock crucial.
- Focus on sustainability and resource efficiency: Genetic improvement reduces environmental impact and resource consumption by optimizing feed conversion and growth rates.
- Advances in genetic technologies: CRISPR-Cas9 and other tools are making selective breeding more precise and targeted, leading to faster development of desirable traits.
- Growing awareness of animal welfare: Genetic selection for disease resistance and improved health outcomes ensures better animal wellbeing.
- Increased focus on niche markets: Consumers demand specific characteristics like organic production or high-quality meat, which genetic technologies can facilitate.
Market Segmentation: A Diverse Landscape Across the Animal Kingdom:
The animal genetic market offers a rich tapestry of opportunities across various segments:
- By Live Animals:
- Porcine: Leading the market due to high demand for pork and rapid breeding cycles.
- Bovine: Significant focus on improving milk production and disease resistance in dairy cattle.
- Poultry: Efficient egg production and disease control drive genetic advancements in hens.
- Canine: Selective breeding for desirable traits in companion animals and working dogs.
- Others: Aquaculture, rabbits, and other livestock species also benefit from genetic improvements.
- By Genetic Material:
- Embryo: Offers precise control over genetic traits in offspring, but has ethical considerations.
- Semen: More widely used and cost-effective, but offers less control compared to embryo transfer.
- By Services:
- Genetic Trait Tests: Identify desirable traits like fast growth, high milk yield, or disease resistance.
- Genetic Disease Tests: Prevent the spread of genetic diseases and ensure healthy breeding stock.
- DNA Typing: Used for traceability, parentage verification, and breed purity confirmation.
- By Regions:
- North America: Dominates the market due to advanced technology adoption and a large meat production industry.
- Asia Pacific: Projected to witness the fastest growth due to its vast population and increasing demand for animal protein.
- Europe: A mature market with established regulations, but economic challenges may impact growth.
- Latin America and Africa: Emerging markets with significant future potential as access to technology and infrastructure improves.
Leading Players and Future Horizons:
The Key Players are Genus Plc, Envigo Corporation, Topigs Norsvin, CRV Holding B.V, Groupe Grimaud La Corbiere SA, Hendrix Genetics BV, Neogen Corporation, Zoetis, Inc; URUS and Animal Genetics, Inc. and others are shaping the market landscape.
Some of the key trends shaping the future of the animal genetic market include:
- Development of even more precise and efficient gene editing technologies for targeted trait improvement.
- Focus on personalized breeding strategies tailored to specific breeds, environments, and market demands.
- Integration of artificial intelligence and machine learning for data analysis and prediction of desirable genetic combinations.
- Growing emphasis on ethical considerations, animal welfare, and responsible use of genetic technologies.
- Collaboration between scientists, breeders, farmers, and policymakers to ensure sustainable and ethical development of the animal genetic sector.
The global animal genetic market stands at the forefront of a transformative era in agriculture. By embracing innovation, ensuring ethical practices, and fostering collaboration, stakeholders can harness the power of genetics to breed a future of resilient, high-performing livestock, contributing to enhanced food security, improved sustainability, and a healthier planet. As a leader in this field, [Company Name] is committed to [mention specific initiatives or goals] and playing a key role in shaping this revolutionary future.
Other Reports You May Like:
Consumer Healthcare market Size
Cell Banking Outsourcing Market Size
About US:
SNS Insider has been a leader in data and analytics globally with its authentic consumer and market insights. The trust of our clients and business partners has always been at the center of who we are as a company. We are a business that leads the industry in innovation, and to support the success of our clients, our highly skilled engineers, consultants, and data scientists have consistently pushed the limits of the industry with innovative methodology and measuring technologies.
We assist our clients to anticipate industrial, economic, and consumer trends to drive disruptive change by fusing global experience with local information from experts throughout the world. We bring context to strategic and tactical data by bridging approaches based on data science and field research, assisting you in addressing your most pressing problems and spotting possibilities.
Contact Us:
Akash Anand – Head of Business Development & Strategy,
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND),
Website: https://www.snsinsider.com
