Overview and Scope
Animal genetics refers to the practice of selective breeding of farm and companion animals by humans for specific benefits. This includes the use of genetic modification and selective breeding practices to increase the yield of animal-derived products. Animal genetics allows for the selection of desirable traits in livestock, such as higher milk yield, better meat quality, disease resistance, and improved growth rates.
Sizing and Forecast
The animal genetics market size has grown strongly in recent years. It will grow from $6.29 billion in 2023 to $6.76 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increasing demand for high-quality animal proteins and meat, government initiatives and funding support, increasing prevalence of genetic diseases, growing livestock populations, increasingly conscious of animal welfare.
The animal genetics market size is expected to see strong growth in the next few years. It will grow to $9.11 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to increased adoption of advanced genomic technologies, development of portable and cost-effective genetic testing solutions, increased demand for animal-derived products, increasing demand for better nutrition, the growing demand for animal-derived dietary supplements. Major trends in the forecast period include next-generation sequencing (NGS), techniques like CRISPR-Cas9 enable precise alterations to the genetic code, advanced genetic identification methods, including DNA typing, genetic disease tests, advances in reproductive technologies.
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Segmentation & Regional Insights
The animal genetics market covered in this report is segmented –
1) By Type: Animal Genetics Products, Genetic Materials, Embryo
2) By Service: Genetic Disease Tests, DNA Typing, Genetic Trait Tests, Other Services
3) By Animal Type: Cattle, Pigs, Sheep And Goats, Companion Animals, Other Animals
4) By End User: Veterinary Hospitals and Clinics, Academic And Research Institutes, Animal Breeders, Pet Owners
North America was the largest region in the animal genetics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the animal genetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for animal protein is expected to propel the growth of the animal genetics market going forward. Animal protein refers to the protein derived from animal sources such as meat, poultry, fish, eggs, and dairy products. There is a growing preference for protein-rich diets, particularly in developed countries, driven by health consciousness, fitness trends, and cultural preferences. Animal genetics helps increase animal protein production by enabling the selection and breeding of animals with superior traits, such as higher muscle mass, disease resistance, and improved reproductive efficiency, leading to more efficient and productive livestock farming. For instance, according to revised data published in December 2023 by the Food and Agriculture Organization, an Italy-based specialized agency of the United Nations, global meat production increased steadily from 350 million tons in 2021 to 355 million tons in 2022. Therefore, the increasing demand for animal protein is driving the growth of the animal genetics market.
Key Industry Players
Major companies operating in the animal genetics market are Zoetis Services LLC, CRV, Genus, Neogen Corporation, Groupe Grimaud , URUS Group LP, Cobb-Vantress Inc., Topigs Norsvin, Hendrix Genetics BV, Accelerated Genetics, Cogent Breeding, Alta Genetics Inc. , ABS Global, Trans Ova Genetics, Embark Veterinary Inc., Tropical Bovine Genetics, EW Group , Wisdom Panel, VetGen, Animal Genetics Inc. , Paw Print Genetics, Orivet, EasyDNA, Sandor Animal Biogenics Pvt. Ltd., SEK Genetics
The animal genetics market report table of contents includes:
1. Executive Summary
2. Animal Genetics Market Characteristics
3. Animal Genetics Market Trends And Strategies
4. Animal Genetics Market – Macro Economic Scenario
5. Global Animal Genetics Market Size and Growth
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32. Global Animal Genetics Market Competitive Benchmarking
33. Global Animal Genetics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Animal Genetics Market
35. Animal Genetics Market Future Outlook and Potential Analysis
36. Appendix
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