Animal Genetics Market Size, Share, Analysis, Trends, Growth Report, 2032

Animal Genetics Industry Prospective:

The global animal genetics market size was worth around USD 6.60 Billion in 2023 and is predicted to grow to around USD 12.65 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 7.50% between 2024 and 2032.

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The report analyzes the global animal genetics market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the animal genetics industry. 

The report covers a forecast and an analysis of the animal genetics market on a global and regional level. The study provides historical data for 2018 and 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). The study includes drivers and restraints for the animal genetics market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the animal genetics market on a global and regional level.

In order to give the users of this report a comprehensive view of the animal genetics market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the animal genetics market on a global and regional basis.

Genetics of animals is the study of the genetic variation and inheritance that occurs in domestic and wild animals alike. Aspects of animal breeding, gene expression, and physical genetic characteristics, such as coat color, are included in the field of animal genetics. Generative concepts and principles are at the core of the field of animal genetics. In order to learn about the inheritance of different characteristics, the hybrid analysis is the primary method that is used. This method also plays a significant part in determining the essence of inheritance for a variety of biochemical, physiological, and morphological features.

Animal Genetics Market: Growth Drivers

The market for animal genetics is seeing substantial expansion, which is being driven by a number of important forces today. This increase is being driven by a number of factors, including population growth, rising wages, and shifting dietary preferences. One of the key factors contributing to this expansion is the growing need for high-quality protein sources around the world, which includes meat, milk, and eggs. As a result of this demand, there has been an increased focus on boosting the productivity and efficiency of cattle through the implementation of genetic improvement initiatives. In addition, significant developments in biotechnology and genomic technologies have brought about a revolution in animal breeding procedures.

These improvements have made it possible to select and breed animals with desirable characteristics such as resistance to illness, growth rate, and feed efficiency with greater precision. In addition, the increasing incidence of diseases in livestock and the requirement for ecologically responsible farming methods are driving the adoption of genetic technology in order to generate animal breeds that are resistant to diseases and friendly to the environment. In addition, the expansion of the market is being further fueled by efforts taken by the government that are favorable, investments made in research & development, and collaborations between various players in the industry. Taking all of these aspects into consideration, the animal genetics market appears to have a bright future ahead of it, with further growth projected in the years to come.

Animal Genetics Market: Report Scope

Segment Analysis Preview

The study provides a decisive view of the animal genetics market by segmenting the market based on product, service, and region. The segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032. By product, the animal genetics market includes live animals and genetic material. Live animals are further segmented into porcine, poultry, canine, bovine, and others. Genetic material is sub-segment into embryo and semen. The embryo is further segmented into equine, bovine, and others. Semen has been sub-segmented into porcine, bovine, canine, and others. By service, this market includes genetic disease tests, genetic trait tests, DNA typing, and others. The regional segment includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa, with its further divided into major countries, such as the U.S., Germany, France, UK, China, Japan, India, and Brazil.

Animal Genetics Market: Regional Analysis

North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the regions that are included in this market for the purpose of region. Because of the presence of key market participants in the region, the high acceptance of new technologies for animal genetics, and the well-established livestock sector, the animal genetics market in North America is projected to lead the market over the predicted time period. A combination of factors, including expanding urbanization, rising demand for animal products, and an increasing number of people who own pets, has made Europe the second largest market for animal genetics. A union representing the European pet food industry estimates that over 75 million households in Europe have companion animals. As a result of the increasing awareness of animal welfare and the high population of livestock, the Asia Pacific region is projected to experience significant growth over the period of time that is being forecasted. 

Animal Genetics Market: Competitive Landscape

The report also includes detailed profiles of various Animal Genetics market players, such as

• Hendrix Genetics BV
• Neogen Corporation
• Genus plc
• Alta Genetics Inc.
• VetGen
• CRV Holding B.V.
• Zoetis Inc.
• Topigs Norsvin
• Animal Genetics Inc.
• Groupe Grimaud
• among others.

This report segments the global animal genetics market into:

Global Animal Genetics Market: By Product

• Live Animals
  • Porcine
  • Poultry
  • Canine
  • Bovine
  • Others
• Genetic Material
  • Embryo
    • Equine
    • Bovine
    • Others
  • Semen
    • Porcine
    • Bovine
    • Canine
    • Others

Global Animal Genetics Market: By Service

• Genetic Disease Tests
• Genetic Trait Tests
• DNA Typing
• Others

Global Animal Genetics Market: By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa