Animal Genetics Market Is Projected To Grow Robustly By 2030
Animal Genetics Industry
The global animal genetics market size is expected to reach USD 9.28 billion by 2030, registering a CAGR of 6.37% over the forecast period, according to a new report by Grand View Research, Inc. The primary drivers for market growth include increased animal protein preferences, rapid urbanization, and the widespread adoption of different genetic products and services. Furthermore, the increasing acceptance of innovative genetic techniques like embryo transfer and artificial insemination (AI) for the large-scale production of modified breeds is probably going to promote market growth. Animal genetics focuses on inheritance and genetic differences in both wild and farm animals. This technology is applied to the commercial sector for services including DNA typing, genetic trait testing, and genetic illness diagnostics.
Increased utilization of advanced genetic technologies, as well as innovations in reproduction, drives the animal genetics industry’s growth. According to an article published by CABI Agricultural and Bioscience, in March 2022, genetic improvement of cattle across the world has been and will continue to be a significant driver of animal sustainable development in agriculture. Cattle genetic improvement utilizes a variety of reproductive and molecular biotechnologies, and their combined effects work best to maximize the pace of genetic advancement when implemented in a well-organized breeding program with a specific breeding goal. One of the most recently developed methods for genetic enhancement is genome or gene editing (GnEd). Animal breeders can accurately target the insertion, deletion, or substitution of base pairs in the genetic code to impact desired traits with the help of advanced biotechnology.
Pig farming has become more technologically advanced, with progressive farmers using identical production techniques all around the world. Producers usually purchase breeding pigs and semen from specialized genetic improvement businesses or captive breeding programs in order to populate their farms. They then periodically obtain semen in order to take advantage of the most recent and effective genetics. The usage of sexing technology has increased significantly, allowing farmers to generate herd replacements from their best cows with fewer breeding attempts, considering an estimated 90% likelihood of a female. Other animals in the herd are being increasingly bred with cattle sperm to generate high-quality cross-bred beef calves. Between 2016 and 2023, the share of sexed and beef genetics that ABS-a global bovine genetics business-sold to the U.S. dairies increased from 16% to 78%.
Gather more insights about the market drivers, restrains and growth of the Global Animal Genetics market
Animal Genetics Market Segments Highlights:
- By type, the assistive reproduction technologies segment held the highest revenue share in 2023. The genomic/genetic testing segment, on the other hand, is anticipated to grow at the fastest CAGR over the forecast period.
- By animal type, the cattle segment held the highest revenue share in 2023. The introduction of a DNA test for beef-on-dairy cattle is anticipated to drive the market growth.
- By distribution channel, the private segment held the highest market share in 2023. The segment is also estimated to witness the fastest CAGR of about 6% from 2024 to 2030.
- North America held the largest market revenue share of about 30% in 2023. This share is attributed to the expanding demand for animal-derived products, advancements in genetic engineering technology, and increased awareness of the importance of animal genetic diversity in environmentally friendly agriculture.
Animal Genetics Market Report Segmentation
Grand View Research has segmented the global animal genetics market based on animal type, type, distribution channel, and region:
Animal Genetics Animal Type Outlook (Revenue, USD Million, 2018 - 2030)
- Cattle
- Pigs
- Sheep & Goats
- Companion Animals
- Others
Animal Genetics Type Outlook (Revenue, USD Million, 2018 - 2030)
- Assistive Reproduction Technologies
- Live Animals
- Genomic/ Genetic Testing
Animal Genetics Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
- Private
- Public
Animal Genetics Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- India
- China
- South Korea
- Australia
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Kuwait
Key Animal Genetics Company Insights
- Neogen Corporation
- Genetics Australia
- Hendrix Genetics BV
- URUS Group LP
- CRV
- Semex
- Swine Genetics International
- STgenetics
- Animal Genetics Inc.
- Generatio GmbH
- Zoetis
- Genus plc
Order a free sample PDF of the Animal Genetics Market Intelligence Study, published by Grand View Research.
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