Global Animal Genetics Market: Trends, Challenges, and Future Outlook

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The animal genetics market involves identification of genes within the genome, which play a role in animal health and production traits. Genetic evaluation or genomic selection in livestock assists in identifying disease resistance or increased growth and milk production. Genetic testing helps farmers and breeders select animals with desirable production traits for breeding programs. Advancements in molecular genetics and genomics have enabled identification of DNA markers associated with traits of economic importance.

The Global Animal Genetics Market is estimated to be valued at US$ 6.6 Bn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030.

Key Takeaways
Key players operating in the animal genetics are BS Global (US), Groupe Grimaud (France), Zoetis (US), Hendrix Genetics (Netherlands), Topigs Norsvin (Netherlands), CRV Holding (Netherlands), and Neogen (US). The animal genetics market is expected to witness lucrative growth opportunities owing to increasing demand for animal protein and rising focus on animal welfare. Technological advancements such as genomic selection, genetic disease tests, and CRISPR gene editing are helping accelerate genetic improvement in livestock.

Market drivers
The major market driver for the animal genetics market is the increased focus on genetic improvements in livestock to ensure food security. Livestock production plays a vital role in global food supply and sustainable intensification of agriculture. Genetic selection helps enhance production traits and disease resistance in livestock. Rising meat consumption worldwide is also driving the need for improved animal yields through scientific breeding programs utilizing genetic technologies.

Current challenges in Animal Genetics Market

The animal genetics market is facing several challenges currently. Rising feed costs have negatively impacted the livestock farming business. Farmers are struggling with increasing costs of feed ingredients like corn and soybean. This has reduced profit margins for them. Another major challenge is outbreaks of diseases. New strains of animal diseases are constantly emerging due to factors like climate change, international trade, and lack of adequate vaccine development. Disease outbreaks can devastate livestock farming. Regulatory hurdles for genetic engineering of animals is also inhibiting market growth. Many countries have stringent regulations regarding genome editing of animals for agriculture due to ethical concerns. This long approval timelines discourage research and development in this field.

SWOT Analysis

Strength: Innovation in genomics and genome editing techniques is enhancing capabilities to improve production and disease resistance traits in livestock. Advanced genetic tools enable faster breeding of superior quality animals.

Weakness: High research & development costs involved in developing new genetic solutions. Regulatory oversight also increases costs.

Opportunity: Rising global demand for animal protein and dairy products creates scope to enhance productivity through advanced genetics applications. Genome editing can enable breeding of climate resilient livestock adapted to extreme weather conditions.

Threats: Opposition from special interest groups against genetic modification of animals. Strict laws can hamper commercialization of new technologies. Competition from alternative proteins may reduce future demand growth for conventionally produced meat and dairy products.

Geographical regions- value concentration

The animal genetics market in North America and Western Europe accounts for over 60% of the global market value currently. This is because of stringent quality standards and focus on high output, disease resistant breeds in the intensive livestock industry in these regions. The US, Brazil, and major EU countries collectively lead the global market.

Fastest growing region

Asia Pacific region is expected to witness the fastest growth in the animal genetics market during the forecast period between 2023 to 2030. Rapidly rising demand for animal protein to feed growing populations will drive heavy investments in advanced genetics solutions to boost productivity of livestock in countries like China, India, and Indonesia. Adoption of advanced breeding technologies is also increasing at a rapid pace in this high potential region.

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