The global animal genetics market in terms of revenue is estimated to be worth USD 7.1 billion in 2023 and is poised to reach USD 11.78 billion by 2030, growing at a CAGR of 7.5% from 2023 to 2030.
Animal genetics is a branch of genetics that studies the appearance, breeding, colour and health of animals. It employs standard genetic concepts as well as hybrid, population, ontogenetic and statistical approaches. A hybrid analysis can identify inheritance patterns, biochemical features and physiology due to each animal’s unique chromosome makeup; due to this diversity comes unique traits passed down through generations. This discipline focuses on investigating how genes influence productivity levels, fertility rates, viability rates and more by investigating these links between genes and traits.
Market growth will be slowened due to an increasing focus on finding superior breeds resistant to disease. Animal geneticists have discovered genes that promote animal growth and health, increasing output while decreasing environmental impact. Nearly one billion people depend on livestock and other animals for their livelihoods and food security; 40% of global agricultural output comes from these creatures, so it is crucial to study animal genetics in order to produce resistant breeds.
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The growing consumption of animal-derived proteins and dairy products is driving the animal genetics market. Livestock and fowl provide humans with essential calcium and proteins, while veal, eggs, milk products and beef remain popular foods that are expected to become even more sought-after in the coming years.
The growing demand for companion animals will ultimately determine the growth of animal genetics. Major driving forces behind this market expansion include urbanization and an expanding global population. Furthermore, major market drivers for future expansion in this space include increasing investment in genetic services to prevent genetic diseases, as well as increased spending on healthcare infrastructure.
The growth of animal genetics markets will be hindered by the increasing availability of alternative meats, such as lab-based. While meat consumption is on the rise, some of it is offset by high quality products being sought. Changes in consumer attitudes and tastes regarding meat consumption along with its effects on environment health and global greenhouse gas emissions may prompt consumers to shift away from animal-based proteins altogether, leading to a decrease in demand for animal-based proteins and delaying adoption of animal genetics technologies.
The Animal Genetics Market report includes key players:
Genus PLC
Hendrix Genetics
EW Group
Zoetis
CRV Holding
Grimaud
Topigs Norsvin
Alta Genetics
Neogen Corporation
Envigo
Here are some facts about the Animal Genetics market report
– The Animal Genetics report contains a market overview, demand, supply ratios, supply chain analysis, and details about import/export.
– Key Market players endorse the use of different approaches and procedures in this report to make business decisions that are efficient.
This report contains information about production value, market strategies (Animal Genetics), and the products/services that they offer.
Animal Genetics market leading segment:
These are the major product types included in the Animal Genetics market report.
Animal Genetics Products
Animal Genetics Testing Services
Applications are included in the Animal Genetics Market Report:
Poultry
Porcine
Bovine
Others
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Table of content:
| Report Attribute | Details |
| Market size value in 2023 | USD 7.1 billion |
| Revenue forecast by 2030 | USD 11.78 billion |
| Growth Rate | CAGR of 7.5% |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of the World |
| Historical Years | 2017-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
| Long-Term Projected Year | 2030 |
Primary research collects data from interviews, surveys, and questionnaires, as well as opinions from business owners and Animal Genetics market leaders. Secondary research gathers information from industry journals, paid databases, and public records. The collected data was analyzed using SWOT, PESTLE, and PORTER’s five force model.
The Key Highlights of this Animal Genetics Market Report:
Strategic Market Entry – We offer detailed Animal Genetics market research support to clients, including mapping the product’s life cycle, key market participants, consumer behavior, and analysis of the company’s market position.
Sales Maximization – The Animal Genetics market research report examines various avenues for maximizing sales, including threat evaluation, identification of potential clients and distributors, and the assessment of market risks. This report gives customers qualitative insights into the market, which allows them to assess their business profitability.
Consumer & Competitive Scenario – The report offers macro- and micro-level insight into consumer demand and product preferences. The Animal Genetics report profiles companies that include detailed analyses of their financial performance, strategic initiatives, and SWOT analysis. Porter’s analysis gives market intelligence that can be used to assess the competitive threat.
The market research report’s major section is titled Animal Genetics Market Estimates and Forecasts. This section focuses on quantitative analysis. Every business segment is analyzed, along with its market drivers, restraints and market expansion opportunities, and growth rates. The report provides both a country-wise and region-wise breakdown of the global market as well as business segments.
Vendor and customer analysis – This report lists the top vendors in the Animal Genetics market, along with their product portfolios, patents, market presence, and distribution network. This chapter allows enterprises to identify the best vendor to meet their requirements and needs.
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