The 2022 global animal genetics market reached a valuation of USD 5.02 billion and is poised to exhibit a revenue CAGR of 7.1% throughout the forecast period. The primary drivers of market revenue growth include the escalating demand for animal protein products and a heightened emphasis on animal health and welfare. The market’s upward trajectory is further propelled by advancements in genetic testing technologies and the increasing adoption of sophisticated breeding techniques among livestock farmers.
A pivotal factor contributing to the burgeoning revenue of the animal genetics market is the increasing global demand for animal protein products, encompassing meat, milk, and eggs. The surge in the global population coupled with rising disposable incomes in emerging economies has resulted in a heightened consumption of animal protein products. Consequently, there is a growing need for genetically superior livestock breeds capable of delivering elevated yields of meat, milk, and eggs. Furthermore, the escalating preference for organic and naturally produced animal protein products is fostering the adoption of advanced breeding techniques.
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Market Overview:
The animal genetics market on a global scale exhibits intense competition, marked by the presence of numerous active players. Key industry participants are actively involved in diverse strategic initiatives, including mergers, acquisitions, partnerships, collaborations, and the introduction of new products. These endeavors aim to augment their market presence, expand their market share, and fortify their standing within the market. The global animal genetics market report highlights several prominent companies, including:
Key Players covered in this report are
- Neogen Corporation
- Genus plc
- Hendrix Genetics BV
- Zoetis Inc.
- Topigs Norsvin
- Grimaud Frères
- Groupe Grimaud
- Semen Cardona S.L.
- Alta Genetics Inc.
- Alltech
Based on Product Type market is segmented into:
- DNA Typing
- Genetic Trait Tests
- Genetic Disease Tests
Based on Application market is segmented into:
- Live Animal
- Genetic Material
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Based on Region market is segmented into:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Major Points covered in this report are as below:
- An analysis of Animal Genetics industry development trends and marketing channels, as well as an assessment of the feasibility of new investment projects, is presented in the study.
- In addition to providing key statistics on the industry, the report provides valuable guidance and direction for companies and individuals interested in this market through tables and figures.
- In addition to developing policies and plans, this report analyzes manufacturing processes and cost structures. It also provides information about import/export demand, costs, prices, revenues, and gross margins.
- This report provides information on the market status of Animal Genetics manufacturers and provides valuable insight into the market for companies and individuals.
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