The global animal genetics market is projected to reach USD 7.7 billion by 2026 from USD 5.5 billion in 2021, at a CAGR of 7.1% during the forecast period. The growth in this market is driven by the increasing consumption of animal-derived protein, growing global population & rapid urbanization, growing focus on identifying superior breeds, increased adoption of genetic services to prevent genetic diseases & business loss, and increased adoption of advanced genetic technologies. On the other hand, the shortage of skilled professionals in veterinary research, and emergence of alternatives like lab-based meat are some factors restraining market growth.
“The live animals accounted for the largest share of the animal genetics market in 2020.”
Based on products and services, the animal genetics market has been segmented into live animals, genetics materials, and animal genetic testing services. The factors attributing to the large revenue of the live animals segment include the high demand for live animals for breeding purposes. The introduction of disease-resistant animals has further boosted the demand for live animals, as they are economically viable for owners and increase their profitability.
“The market in Asia Pacific is projected to witness the highest growth rate during the forecast period (2021–2026).”
Europe accounted for the largest share of the animal genetics market in 2020. Better accessibility to technologies and well-established distribution channels, the growing demand for livestock food products, high intake of animal-derived proteins, and increasing animal welfare activities in the developed countries of Europe and North America account for their larger market shares.
A breakdown of the primary participants referred to for this report is provided below:
- By Company Type (Supply-side): Tier 1: 25%, Tier 2: 35%, and Tier 3: 40%
- By Designation: C-level: 20%, Director-level: 55%, and Managers: 25%
- By Region: North America: 40%, Europe: 25%, Asia-Pacific: 20%, Latin America: 10% and Middle East & Africa: 5%
The major players in the animal genetics market include Neogen Corporation (US), Genus (UK), URUS (US), EW Group (Germany), Groupe Grimaud (France), CRV Holding (Netherlands), Topigs Norsvin (Netherlands), Zoetis (US), Envigo (US), Hendix Genetics (Netherlands), Animal Genetics (US), VetGen (US), DanBred (Denmark), Tropical Bovine Genetics (India), Trans Ova Genetics (US), Inguran LLC dba ST Genetics (US), Semex Alliance (Canada), Genetic Veterinary Sciences (US), Cobb-Vantress (US), Milk Source (US), Eurogene AI Services (Ireland).
The report analyzes the animal genetics market and aims at estimating the market size and future growth potential of this market based on various segments such as product and services, and region. The report also includes competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.
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The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one, or a combination of the below mentioned five strategies.
This report provides insights into the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the animal genetics market. The report analyzes the market based on the products and services, and region.
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the animal genetics market.
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various types of animal genetics solutions across regions.
- Market Diversification: Exhaustive information about products, untapped regions, recent developments, and investments in the animal genetics market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the animal genetics markets.