Animal Genetics Market Size, Share, & Trends Analysis Report 2020 – 2027
The global animal genetics market is anticipated to reach a market size of USD 9.12 Billion by 2027. The market is anticipated to grow at a CAGR of 4.5% between 2020 to 2027 as per a new market research report by confianza research. The growth can be attributed to increasing demand for animal proteins, investments in animal genetic experiments, and a growing world population. Additionally, technological improvement in genetics such as embryo implant & transfer, Artificial Insemination is expected to further boost the market growth.
Animal Genetics is mainly focused on the retention of inheritance and producing genetic variations in domestic animals for better animal product production. For example, genetically modifying cows to produce more milk or to diagnose and eliminate some hereditary diseases such as few animal respiratory diseases among others.
Moreover growing attention toward animal welfare and technological advancement in animal genetics is expected to drive the market growth over the forecast period. Additionally increasing consumption of meat worldwide to meet the increasing demand for animal protein is expected to further boost the market growth substantially. However, there are certain restraints for animal genetics practices such as stringent government regulations for genetic modification of animals, the high operational cost for genetic modification, and lack of skilled professionals.
Companies around the world are investing in research and development activities to produce better quality animal products for human consumption and are expected to further grow the market.
The market is segmented based on live animal type into poultry, canine, bovine & porcine types. The porcine segment dominated the market in 2019 as demand for pork meat has increased substantially over the last few years. Moreover, the poultry segment is expected to attract exponential demand as white meat is gaining attention as it is the cheapest source of protein and also has a low animal disease rate compared to other meat types. The poultries are easy to maintain and offer a great return on investment therefore many farmers Around The World consider poultry as preferred business type besides farming.
Considering the hazardous impact of red meat on the environment many Consumers especially in the European region are shifting towards consuming white meat, This sudden shift is expected to bring more opportunities for the animal genetics market.
The market can be segmented based on the genetic material into embryo & semen types. The embryo segment accounted for the largest market share in 2019, as embryos are easily transferable, low cost & offer greater efficiency. Embryo transfer aunt is done to increase animal production to meet the increasing demand worldwide. Semen segment is expected to witness the fastest growth rate owing to the increasing practice of artificial insemination in various livestock.
Based on service type, the market can be segmented into genetic trait testing, genetic disease testing & DNA typing. The disease testing segment is anticipated to account for the largest market size in 2019, as farm owners are focusing on genomic testing to avoid animal deaths & financial losses. Moreover, the increasing trend of having a pet is expected to further boost the market growth. Animal Genetics is used for testing genetic traits of animals including its breed, color, Presence of any hereditary diseases, search helps to increase the pet population.
Genetic disease testing services segment is expected to rise over the forecast period as the trend of genetic testing to ensure disease-free livestock breed is rising in the North America and Europe region
North America region accounted for the largest animal Genetics market share in 2019, as the regional investment in research activities for animal Genetics has increased substantially in the last few decades. Moreover, the United States is one of the largest meat consuming countries in the world, therefore to meet the increasing demand for white meat in the region companies rely on animal genetic testing and other related services. The region also has the presence of top animal genetic companies which is expected to support the regional market growth.
Growing awareness towards animal welfare in the European region is expected to boost the regional market growth. Europe also has one of the largest pet owner population in the world, as a support for the animal genetics industry.
The Asia-pacific region is emerging as the fastest-growing Animal Genetics market, as awareness for such services is rising in the regional market. The Middle East and Africa region are lagging due to lack of required infrastructure and skilled professionals animal Genetic in the region. The regional market great future potential due to the increasing demand for meat in the region as most of the meat is imported from other countries.
The global animal genetics market is a low competitive market as only a few players are operating in this market owing to the high initial investment, stringent government regulations, and technical knowledge requirements. Key companies operating in this market include Groupe Grimaud La Corbiere SA; URUS; Topigs Norsvin; Neogen Corporation; Genus Plc; and others.
|Base year for estimation||2019|
|Actual estimates/Historical data||2017 – 2019|
|Forecast period||2020 – 2027|
|Market representation||Revenue in USD Billion & CAGR from 2020 to 2027|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Country scope||U.S., Canada, UK, Germany, France, China, India, Japan, South Korea, Taiwan, Brazil, Mexico, UAE, and KSA|
|Report coverage||Market size estimates and forecast, company market share analysis, competitive landscape, market dynamics, drivers, restraints, opportunities & challenges, qualitative analysis and trends|
|25% free customization scope (equivalent to 9 analysts working days)||Do you have any additional requirements? We can incorporate the same at no extra cost.|
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