February 26, 2024

Animal Genetics Market Size Assessment Expected to Reach USD 11.32 Billion by 2032 at a CAGR of 6.1%: Polaris Market Research

NEW YORK, November 23, 2023 /PRNewswire/ — A more recent research report [110+] pages with 360 degree visibility, titled “Animal Genetics Market Share, Size, Trends, Industry Analysis Report, by Animal (Poultry, Swine, Cattle, Canines and Other Animals); by Genetic Material; by Genetic Testing Services; by Region; Segment Forecast, 2023-2032” published by Polaris Market Research in their research repository.

Animal Genetics Market

Animal Genetics Market

“According to the research report, the global animal genetics market size/share was valued at US$6.27 billion in 2022 and is expected to play US$ 11.32 billion Until 2032growing in 6.1% CAGR during the forecast period.”

What is it Animal Genetics? What is the size of the animal genetics market?

Animal genetics is the study of genes. Genes influence an animal’s behavior and are passed from parents to offspring. The animals are studied and data is collected on the behavior or alleged attributes they demonstrate. This includes being difficult to fight disease or being able to evolve with few resources and more. The growing demand for the animal genetics market can be attributed to the use of contemporary technology to collect and process this data for each animal in the breeding program. This way, it is possible to meticulously evaluate the genetic potential of solitary animals and choose which are the main progenitors to generate healthier and more structured offspring.

Animal genetics is gaining more and more importance to improve the quality of livestock. Evolving research ventures in this territory may interest producers in resisting animal diseases and in finding degrees of disease by companies that practice non-vegetarian food processing. Across a wide range of domains, livestock populations provide people with many goods and services, such as meat, milk, eggs, fiber, and drought energy.

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(Sample of this report is readily available upon request. Sample report contains brief introduction to the research report, index, graphical introduction of regional analysis, key market players with their revenue analysis, and our research methodology.)

Key market insights from the report

  • The growing awareness of animal genetics is gaining momentum driven by technological progressions in industries. The growing alliances in the market are increasing the existence of the market.

  • The animal genetics market segmentation is mainly based on animals, genetic material, genetic testing services, and region.

  • Asia-Pacific dominated the largest market share in 2021.

Market growth drivers and trends

  • Animal genetics is one of the main pillars of livestock advancements, along with animal health, nutrition and husbandry decisions such as housing. The size of the animal genetics market is expanding as it makes a remarkable progress in solving various problems that producers encounter, such as lower productivity, lower nutritional substance and climate-driven diseases that can cause reduction in meat and dairy production. The advancement of technologies such as artificial insemination, cryopreservation and embryo delivery has shown superior results compared to conventional organic breeding among animals, causing the shift from organic breeding to assisted reproduction technology.

  • The genetic multiplicity existing in livestock herds acts as a starting point for human-managed genetic improvement programs and for advancement based on natural nomination in response to environmental changes. Sales in the animal genetics market are increasing, as these efforts are crucial to increasing yields and for the livestock population to adapt to challenges such as climate change, the emergence of diseases and the ultimatum regarding food and water resources. The growing human population and rapid global urbanization increase the acquisition of animal-derived proteins. Livestock is one of the prominent sources of protein and calcium for humans. Rising demand for purchased food products is anticipated to increase poultry and dairy production, thereby boosting the market. The growing demand for animal-sourced proteins has caused an escalation in awareness in the context of animal welfare. This caused the pronounced acquisition of animal health insurance, which ultimately increased the demand for genetic testing by pet owners and breeders to manufacture improvised animals to carry animal proteins.

Prominent players in the market

  • Animal Genetics

  • Cardinal Health

  • CRV Holding B.V.

  • sro genome

  • Gender

  • Genetic Technologies

  • Grimaud Group

  • Hendrix Genetics B.V.

  • Mars, Incorporated

  • Neogen Corporation

  • TOPIGS NORSVIN

  • URUS LP Group

  • Veterinary

  • Zoetis

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Animal genetics market perspectives & Scope

Report attributes

Details

Market value in 2023

US$6.64 billion

Market value in 2032

US$ 11.32 billion

Growth rate

6.1% from 2023-2032

Base year

2022

Historical date

2019-2021

Forecast period

2023-2032

Significant segmental division

Based on animal analysis, the beef segment witnessed the highest growth during the forecast period. Animal genetics market demand is increasing as there is a rapid increase in demand for dairy and beef. The shift in consumer bias towards a vegetarian diet is one of the prominent elements driving consumer demand for dairy products as it can restore the shortage of vitamins and minerals associated with zero intake by non-vegetarians. The growing demand for dairy products, including beef, is inspiring producers to adopt selective breeding as it sanctions contemporary species with greater nutritional value and decreases the opportunity for genetic diseases.

Based on the analysis of genetic material, the semen segment dominated the market. Animal genetics market trends include semen for animals involving healthy and fertile cattle, pigs, horses and other cattle, which will assist producers in scaling up milk and meat production in subsequent offspring. It also sanctions livestock farmers to increase their hostility to disease, increasing the productivity of meat and dairy products in the near future.

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Regional Analysis

  • Asia-Pacific: This region held the largest share in the animal genetics market as nations in the region are competently increasing meat and milk production through execution of strategies. For example, the government of India started the Rashtriya Gokul Mission to increase cattle and milk productivity, which includes using genetically outdated bulls for breeding. Under the pilot project, the policy is implemented under the name of Rashtriya Pashudan Vikas Yojna, with a financial estimate of 2,400 million from 2021-2026. These continued efforts by the government will further increase awareness of animal genetics among livestock producers in the region and bolster milk production.

  • Europe: O Europe The region is expected to experience rapid growth due to a surge in animal meat production. This will facilitate ample supply to consumers in the region. In 2021, Spain, France, IrelandIt is Greece produced most of the sheep meat caught in the EU. Greece It is Spain are the two main member states in goat meat production. To address quality issues and increase immunity against disease, producers can utilize genetic improvement technology to improve livestock genetics, which can cause an increase in the market in the region.

Browse the detailed report “Animal Genetics Market Share, Size, Trends, Industry Analysis Report, by Animal (Poultry, Swine, Cattle, Canines and Other Animals); by Genetic Material; by Genetic Testing Services; by Region; Segment Forecast, 2023-2032” with detailed TOC: https://www.polarismarketresearch.com/industry-analysis/animal-genetics-market

For additional information or media inquiries, please email us: sales@polarismarketresearch.com

Current Improvements

  • In June 2022, Zeotis acquired Basepaws to offer genetic testing, analysis and health risk assessments for pet owners.

What can the report help you find?

  • What is the estimated CAGR to be calculated for the growth of the animal genetics market?

  • What are the main segments covered?

  • What are the key factors driving the market?

  • Who are the key manufacturers in Animal Genetics market space?

  • What will be the estimated market value at the end of the forecast period?

Browse more research reports:

About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services to PMR’s clientele spread across different companies. We at Polaris are obliged to serve PMR’s diverse customer base, present in the healthcare, technology, semiconductor and chemical sectors, among several other sectors present throughout the world. We strive to provide PMR clients with up-to-date information on innovative technologies, high-growth markets, emerging business environments and the latest business-centric applications, always helping them make informed decisions and seize new opportunities. Adhered to a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris strive to provide value-added business solutions to PMR clients.

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